While many larger banks have created “chief diversity officer” roles over the past several years, that role has been more of a rarity at smaller banks. Until now.
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Time is running out for the Federal Reserve to make a simple but critical fix to ensure infusions of funds reach disadvantaged communities.
The CFPB found that depository lenders had the highest amount of publicly available information about diversity and inclusion in the financial services sector.
The Federal Reserve has released a long-awaited set of frequently asked questions regarding its approach with regard to OCC-regulated federal savings associations and federal mutual savings banks that choose to exercise the option to become a “covered savings association,” as allowed by Section 206 of the 2018 S. 2155 regulatory reform law.
With the Treasury Department investing $8.7 billion in community development financial institutions and minority depository institutions through its Emergency Capital Investment Program, ABA and several other trade groups this week urged the Federal Reserve to revise quickly its regulatory treatment of ECIP investments to support the program’s success.
The Small Business Administration has issued a final rule outlining procedures for appealing final SBA Paycheck Protection Program loan review decisions to its Office of Hearings and Appeals
n a surprise announcement today at an mutual bank virtual forum co-hosted by the FDIC and OCC, a Federal Reserve official announced that the Federal Reserve has, via interpretive letter, determined that OCC-regulated savings associations that choose to exercise the option to become a “covered savings association” under Section 206 of the 2018 S. 2155 regulatory reform law will now be treated as national banks for purposes of regulation by the Federal Reserve.
For Bernard Tynes, realizing the power of marketing takes the perfect combination of gut feeling and hard information.
In a letter to Acting Comptroller of the Currency Blake Paulson this week, American Bankers Association President and CEO Rob Nichols raised concerns about recent attempts by credit unions to purchase federally chartered banks, including federal mutual savings associations.
Culture is important for every bank, but never more so than when employees are remote amid the COVID-19 pandemic. Pat Weigel discusses how Norway Savings Bank’s employees build its “high-achievement, high-support” culture.