Ashton Ryan, the New Orleans bank's CEO, and two other officers are accused of disguising the financial condition of certain borrowers before the bank's 2017 collapse.
Two state assembly members introduced legislation that would let the California Infrastructure and Economic Development Bank accept deposits from public entities and provide financing to small businesses and local governments.
While they are not dramatically opposed, Jelena McWilliams and Brian Brooks have articulated their own ideas on postal banking and the use of artificial intelligence in lending.
The pandemic will accelerate the drive toward a supervision process in which both regulators and banks will need the digital tools that enable sophisticated remote exams. Expect a heightened focus, too, on customers' financial health.
After drawing industry opposition, legislation that would have added broad new borrower protections during the pandemic failed to advance out of the state Assembly.
A blueprint that includes more CRA and tax credits for lower-income African Americans would help a demographic disproportionately harmed by the coronavirus pandemic.
Recent steps that would help nonbank lenders enter the traditional banking system, like a proposal clarifying the industrial loan company charter, are needed but face strong opposition.
