With constantly changing rules and rising fear that the loans may not be forgiven, the stampede for Paycheck Protection Program Loans (PPP) money slowed to a trot. Phase 1 dollars were all tapped in less than weeks; as of June…
Month: June 2020
Banks Report Lowest Net Income in a Decade
First quarter 2020 net operating income at the nation’s banks was $43.1 billion lower than a year ago. That’s a 71.6% drop, and the lowest number we’ve seen since the last recession. Some of that decrease can be attributed to…
Industrial Banks Stage a Comeback
Industrial Banks or Industrial Loan Companies (ILCs) are state-chartered, FDIC-insured depository institutions subject to the same regulations as other bank charter types. Only a handful of states allow the charter. Utah in particular, has always been very open to the…
New Bank Star-Ratings and a Gaping CBLR Hole
It’s been quite a year so far. And with so much going on, one very important change in bank reporting has gone largely unnoticed by the public and the media. In an effort to ease regulatory burden for well-capitalized community…
CRA was Now or Never for Joseph Otting
Joseph M. Otting steps down as Comptroller of the Currency effective Friday, May 29th. But before leaving, he made sure that years of work towards improving the Community Reinvestment Act had not been done in vain. The agency went solo…
Otting CRA: Now or Never
Joseph M. Otting steps down as Comptroller of the Currency effective Friday, May 29th. But before leaving, he made sure that years of work towards improving the Community Reinvestment Act had not been done in vain. The agency went solo…