American Banker Magazine - March 2020

Not for Sale

The Minnesota bank is locked in a bitter legal battle to preserve its independence. Its foe? The charitable organization set up by its founder.

Popular’s branch in a Brooklyn neighborhood faced an uncertain future until it was designated as a bank development district. Now it’s eligible to receive millions of dollars in municipal deposits.

Lenders that depend on the Export-Import Bank to back loans to exporters are already seeing business borrowing pick up after Congress reauthorized the agency in December.

The payments company is working with nonprofit organizations, law enforcement authorities, victims and others to make it harder for the criminals behind the modern slave trade to move money.

The city's decision to drop a lawsuit alleging predatory ending by Wells Fargo, JPMorgan Chase, Bank of America and Citigroup highlights the challenges municipalities face in taking on deep-pocketed financial institutions.

Rellevate, founded by Stewart Stockdale, will offer pay advances, fast bill pay payment and international remittances for consumers who live paycheck to paycheck.

Ludwig, a former regulator and CEO of Promontory Financial, and Mahan, the head of Live Oak Bancshares, say they want to back tech startups that support community banks. The ABA and ICBA are among the fund's investors.

Gavin Newsom's proposal to create a consumer watchdog modeled after the CFPB includes a provision that would make it easier for upstart financial firms to obtain industrial loan charters.

Users of the challenger bank's app can automatically save money over the course of a month to cover their mobile charges.

Anticipating a weaker economy and added pressure on stock prices, banks authorized more repurchases of outstanding shares last year.

Banks are so caught up in the newest technology trends that they lose sight of the need to build a talented workforce and a purpose-driven organization.