Mulvaney makes CFPB name change official
After quietly beginning to institute a new name at the Consumer Financial Protection Bureau earlier this year, Acting Director Mick Mulvaney is making the change official. [Continue]
After quietly beginning to institute a new name at the Consumer Financial Protection Bureau earlier this year, Acting Director Mick Mulvaney is making the change official. [Continue]
American Bank & Trust, Huron, S.D., will acquire Farmers State Bank, with locations in Stickney, Carthage and Iroquois. American Bank & Trust has branch locations in Wessington Springs, Alpena, Mellette, Miller, Wolsey, Huron, De Smet, Pierre and Sioux Falls. [Continue]
The Office of the Comptroller of the Currency fined Wells Fargo $500 million over risk management, auto loan and mortgage practices. [Continue]
Bankers are good at their jobs and most have a strategic plan that’s meant to guide their institutions. Sometimes that plan just sits on a shelf. Few bankers, though, have a formalized management system that keeps them accountable to their mission or allows them to effectively communicate their vision to staff. [Continue]
Associated Bank, N.A., Green Bay, announced it will commit $2.4 billion in loans and investments in minority communities, low- to moderate-income communities, and small businesses throughout Wisconsin, Illinois and Minnesota between now and 2020. Highlights of what Associated calls its Community Commitment Plan include: [Continue]
I have long been an advocate for “pruning and planting” in the credit portfolio. Now, the notion of “planting” is usually pretty familiar to the credit staff I work with around the country. Especially these days, growing the credit portfolio is on everyone’s mind. All credit institutions are working hard to plant more assets in their portfolios. [Continue]
Though 96 percent of the 275 state chartered banks in Iowa have a CAMELS rating of 1 or 2, there’s been a slight increase in the number of 3-rated banks in Iowa in the past two years. “You may think this increase is expected because of the current ag environment,” said Ron Hansen, Superintendent of Banking for Iowa. “I would tell you it’s as much caused by a decrease in the management component of the CAMELS rating as it has been by the asset quality component.” [Continue]
The rules that govern the use and cost of a bank’s debit card program are written by a small group companies and these rules set the terms for cardholder access as well as the costs borne by a financial institution. In its effort to support its customers and re-balance the power wielded by the largest players in the arena, Johnston, Iowa-based Shazam made a strategic decision to engage in advocacy on this and other issues. [Continue]
Triumph Bancorp, Inc., (TBK), Dallas, announced April 9 that it has signed definitive agreements to acquire First Bancorp of Durango, Inc., and Southern Colorado Corp. The company also announced the entry into an asset purchase agreement by Advance Business Capital d/b/a Triumph Business Capital to acquire the transportation factoring assets of Interstate Capital Corporation. [Continue]
At its annual shareholder meeting, Merchants Financial Group, Inc., Winona, Minn., celebrated a record year, recognized new leaders and thanked retiring board members. [Continue]