First Independence Bank was founded 50 years ago to help rebuild Detroit’s economy in the wake of damaging urban violence. Today, in a new era of economic hardship due to the coronavirus pandemic, and protests and unrest in response to incidents of racial injustice, minority depository institutions continue to have a unique role in serving distressed communities.
Noting the growing risk of “sudden and disruptive unwinding” of lending relationships, the federal banking agencies today issued no-action relief under Regulation O for banks lending to investment fund-controlled companies under specific conditions.
While generally welcoming the Securities and Exchange Commission’s proposed updates to “Guide 3,” ABA urged the SEC to allow more time before adding disclosures specific to the Current Expected Credit Loss model.
Senior House Financial Services Committee member Blaine Luetkemeyer (R-Mo.) and Ranking Member Patrick McHenry (R-N.C.) today wrote to Securities and Exchange Commission Chairman Jay Clayton expressing concerns about the coming CECL loan loss accounting approach and its effects on markets and investors.
ABA added 10 banks to its Nasdaq Community Bank Index (ABAQ) today.
ABA added 12 banks to its Nasdaq Community Bank Index (ABAQ) today.
ABA added two banks to its Nasdaq Community Bank Index (ABAQ) today. The index now includes 334 community banks with a combined market cap of nearly $259 billion.
The Securities and Exchange Commission is seeking comments on the disclosures publicly reporting bank holding companies are required to provide to investors.
Ten practical steps banks can take to fight—and win—when activists come calling.
Simple tips to be prepared when a activist investor shows up.