In his annual letter to shareholders, M&T Bank chief Robert Wilmers laid out in compelling detail how government policies intended to protect American families have ultimately stymied economic growth.
Community banks, big commercial banks and Wall Street investment houses are finding common ground in small-business loan funds that help Main Street, minimize potential losses on credit extended to young companies and sometimes lead to new business prospects.
Ann Marie Mehlum, who has joined a lending platform called SmartBiz Loans after stints as a community banker and an SBA official, says the combination of fintech and old-fashioned banking could bring back small-business loans under $100,000.
None of the initial steps banks can take to modernize business lending are cutting-edge innovation ideas, but they can still improve the borrowing experience, giving businesses fewer reasons to look elsewhere.
Jim Rosenthal previously served as chief operating officer at the Wall Street investment bank. He joins the board of an online lender that has recorded losses in five straight quarters.
U.S. bank regulators have tentatively agreed to ease an appraisal requirement that could help commercial real estate borrowers, said people familiar with talks among the agencies.
