Chronicles

Court denies CFPB suit for restitution against lender

Earlier this month, the Consumer Financial Protection Bureau was dealt a setback in federal court in California.

The bureau was seeking penalties and restitution from a lender for violations of law. The court agreed with the CFPB in levelling a $10 million fine but denied the bureau’s bid to assess $287 million in restitution and penalties. [Continue]

Audience response to poll questions offers insight

Audience polling conducted at the 24th annual Acquire or Be Acquired conference in Phoenix on Jan. 29 offered insights into bankers: Forty-nine percent of bankers at the conference identified themselves as buyers. Just over half the audience (52 percent) said deposits are the most important feature of any bank they would consider for acquisition. Market … Read more

Associated gets go-ahead on acquisition

Associated Bank’s first acquisition in more than a decade has received regulatory approval, the Green Bay, Wis., bank announced Tuesday. Associated agreed to purchase Bank Mutual Corporation in mid-July for $482 million. Both the Office of the Comptroller of the Currency and the Federal Reserve Board needed to sign off on the merger, which will increase Associated’s size to $32.7 billion in assets. [Continue]

Large and small banks pass tax savings to employees

One teller at Ohnward Bank & Trust began work the Wednesday before Christmas. On her second day, she received a $1,000 bonus. Ohnward Bancshares, Maquoketa, Iowa, gave a “tax relief, holiday bonus” to each of its employees, no matter how long they had been on staff, hence that teller’s lucky break. [Continue]

Indiana’s 1st Source develops niche with solar

In just its first full year of lending to the commercial solar industry, 1st Source Bank, South Bend, Ind., provided financing for 10 projects in five states. The solar emphasis helps 1st Source customers and gives the $5.8 billion bank experience in an emerging industry. [Continue]

ABA economists project growth

In part thanks to the tax reform bill signed in December, the United States economy may progress quicker than previously expected, even though forecasts attempted to factor in the then-hypothetical tax bill ahead of time, according to the Economic Advisory Committee of the American Bankers Association. A strong close to 2017 influenced forward-looking projections perhaps as much as the tax bill did. [Continue]

Economist is bullish on continued expansion

Participants in BankBeatGroups’ inaugural webinar Jan. 18, received an optimistic economic forecast from KC Mathews, executive vice president and chief investment officer for UMB Bank, Kansas City, Mo. “Is This as Good as it Gets?” Mathews asked in the title of his presentation. Outlining what he called “the Magnificent 7,” he provided the answer: no. [Continue]