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Higher expenses and an uptick in problem loans weighed down quarterly profits at Community Trust Bancorp (CTBI) in Pikeville, Ky.
July 17 -
Community Trust Bancorp in Pikeville, Ky., has a promoted a veteran banker to chief financial officer.
May 1
The Federal Reserve may be preparing to fine Community Trust Bancorp (CTBI) in Pikeville, Ky., for deceptive overdraft practices.
Fed staff has recommended that its consumer-affairs division cite the $3.6 billion-asset lender for unfair and deceptive methods of assessing overdraft fees, Community Trust disclosed Friday in a
The company did not immediately return calls seeking comment, and the filing did not specify what practices the Federal Reserve has been investigating. Community Trust believes the practices in question "are neither unfair nor deceptive and are consistent with methodologies prevalent in the banking industry," the filing stated.
The Consumer Financial Protection Bureau began investigating the banking industry's use of overdraft fees in 2012. The regulator