Over the past 20 years, the location of the nearest full-service bank branch for urban consumers has remained stable at 1.5 miles and has improved for rural customers, falling from 4.6 miles to 4.3 miles, despite an increase in bank consolidation, according to a new report from the Federal Reserve Bank of Cleveland.
Testifying before a House Financial Services subcommittee today, bank CEO Jim Reuter said that a controversial proposal by the Biden administration requiring banks to report information to the IRS on gross inflows and outflows on customer accounts, “is yet another regulatory burden that would only lead to further consolidation in the industry.”
The future of banking is bright, provided the policy environment continues to support growth, bank CEO Jim Reuter said in prepared testimony submitted ahead of a House Financial Services subcommittee hearing today.
In 2020, local business conditions were top of mind for community bankers. This year, the lingering effect of COVID-19 on local economies has created a new concern: historic levels of deposits and narrow net interest margins.
The Community Development Financial Institutions Fund today awarded more than $10.8 million in grants through the 2021 Small Dollar Loan Program.
Some bank leaders believe that focusing on climate can help banks gain relevance, especially with younger customers.
FDIC-insured banks and savings institutions earned $70.4 billion in the second quarter of 2021, a 281% increase from a year before at the height of the COVID-19 pandemic, the FDIC reported today in its Quarterly Banking Profile.
The federal banking agencies today released a guide to help community banks asses risks when considering partnerships with fintech companies.
Despite the pandemic, the FDIC has not lost sight of its forward-looking initiatives, FDIC Chairman Jelena McWilliams said today during the Texas Bankers Association annual convention.
Community banks look to the senior loan market for solutions to liquidity, competition, yield and growth.