Community banks took on an outsized share of Paycheck Protection Program lending, according to a blog post today by the Conference of State Bank Supervisors. Nationwide, community banks’ outstanding balance of PPP loans to total assets was 6.04%, compared to 1.81% for non-community banks.
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The FDIC today released a new staff study highlighting how economies of scale developed at community banks (those with $10 billion or less in assets) between 2000 and 2019.
In an interview with NPR Marketplace’s Kai Ryssdal Friday, former ABA Chair Laurie Stewart said that additional funding for the Small Business Administration’s Paycheck Protection Program would be appropriate as many small businesses continue to struggle due to the coronavirus and will likely face a very challenging winter.
In response to feedback from banks and fintech providers, the Federal Reserve, working with other financial regulatory agencies, is developing a fintech vendor due diligence guide for community banks, that would provide specific information about the documents and information they need to successfully complete their due diligence obligations, Federal Reserve Governor Michelle Bowman said in a speech today.
FDIC-insured banks and savings institutions earned $51.2 billion in the third quarter of 2020, a 10.7% decline from the year prior, but a significant improvement from the first half of the year, the FDIC reported today in its Quarterly Banking Profile.
By Bert Ely As bankers and other FCW readers know all too well, American agriculture…
The American Bankers Association added three banks to its Nasdaq Community Bank Index (ABAQ) today. The index now includes 309 community banks with a combined market cap of $222.5 billion.
The CFPB today finalized an advisory opinion pilot program that allows entities seeking to comply with existing regulations to request an advisory opinion from the bureau to address areas of uncertainty.
Small business credit card customer satisfaction declined nine points from last year (falling to 840 on a 1,000-point scale) as 91% said their business has been affected by the pandemic, according to a new survey by J.D. Power.