The National Credit Union Administration today issued two proposals with significant and troublesome implications for taxpayers.
Browsing: Community Banking
In an American Banker op-ed today, American Bankers Association Chair Laurie Stewart called attention to the “disturbing trend” of large, tax-exempt credit unions purchasing taxpaying community banks.
Increasing scarcity of both buyers and sellers will drive bank mergers and acquisitions in 2020, a top bank deal lawyer says on the latest episode of the ABA Banking Journal Podcast.
With several serial acquirers out of the market, scarcer targets for purchase and non-traditional deals on the rise, expect banks to turn to experienced matchmakers in 2020 to navigate M&A.
Federal Reserve Governor Michelle Bowman will deliver a keynote address at ABA’s Conference for Community Bankers—to be held Feb. 9-12 in Orlando, Florida.
The Colorado State Banking Board today denied the sale of a Colorado community bank to one of the state’s largest credit unions. The board found that the deal—in which Boulder, Colorado-based Elevations Credit Union would purchase the assets of Cache Bank and Trust, headquartered in Greeley—did not meet the requirements of state law.
Speaking to attendees at a mortgage industry event in Kansas City, Missouri, today, Federal Reserve Governor Michelle Bowman expressed optimism about the trajectory of the housing market but raised concerns about the declining number of community banks remaining in the consumer real estate mortgage market.
“When you think about what’s happening in America, there’s a bifurcation that’s happening,” says Orvin Kimbrough. “You have more and more people pushing to the upper echelons of economic continuum, and you have many more who are pushing to the lower end, and the middle group is being squeezed.”
Federal Reserve Governor Lael Brainard, the agency’s point person for the Community Reinvestment Act modernization process, today outlined the Fed’s approach to revising CRA rules and explained why the Fed did not join the notice of proposed rulemaking issued last month by the OCC and the FDIC.
As banking becomes ever more technology-driven, many banks are shifting from a mindset that puts big tech projects off to one side to one that embraces ongoing innovation, development and deployment. Regions Bank exemplifies the latter mindset.