Washington DC

Proposed eleventh-hour change to CECL has bankers scrambling

11/09/18

The Financial Accounting Standards Board is considering a plan to have banks break out charge-offs and recoveries on a year-by-year basis. Bankers fear new systems would be needed to comply.

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SBA scrapping plan to back disaster loans by banks

10/25/18

The agency says lenders lacked the risk appetite, while bankers point to concerns over turnaround times and strict loan terms.

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VisionBank files application to open in Washington

10/24/18

Organizers plan to raise $25 million to $35 million in initial capital to focus on small and midsize businesses in northern Virginia.

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Wells Fargo to commit $1.6B in D.C. for neighborhood investment

10/23/18

Through the "Where We Live" program, the bank will direct philanthropic giving to two wards in the nation's capital and provide financing for affordable housing.

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Union to gain scale around Washington with $600M acquisition

10/05/18

Union Bankshares will gain 15 branches and $2 billion in loans in northern Virginia after it buys Access National.

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Are SBA loans for underserved in jeopardy?

09/26/18

Some lenders fear a moratorium on new participants, and other restraints, could be the beginning of the end for the agency's Community Advantage program.

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Small banks seethe at GAO’s downplaying of reg burden

09/19/18

Community bankers reject the conclusions of a Government Accountability Office report that say regulatory burdens only had a “modest effect” on the declining number of banks since 2010.

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Mark Olson served as Fed governor, PCAOB chair, community banker in 50-year career

09/14/18

Olson ran a bank founded by his father in his hometown of Fergus Falls, Minn., before a long career in Washington.

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HSBC customer was on U.S. list of suspected weapons traffickers

08/06/18

The unnamed customer, who was on a list of suspects involved with weapons of mass destruction, used an HSBC credit card to make 12 payments in the second quarter, the company told shareholders Monday.

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Head of D.C. de novo group disputes former insider's claims

08/03/18

Tekalign Gedamu, who would chair Marathon International Bank, says that Zekarias Tamrat is bad-mouthing the de novo effort following his dismissal and a subsequent payment disagreement. Tamrat was slated to be the bank's president.

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