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Estonia Shelves Plans For National Cryptocurrency

PYMNTS

Estonia has shelved plans to develop its own national cryptocurrency after the idea prompted criticism by banking authorities and Mario Draghi, the Italian economist and president of the European Central Bank. In 2012, more than €7.3 Other options aren’t on the table. We’re not building a new currency,” the official told Bloomberg.

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Nonprofit Supports Community Entrepreneurs Amid Pandemic

PYMNTS

Quite the contrary,” says Bob Brennan, chairman of the National Expansion Council and one of the directors of a nonprofit organization called Entrepreneurship for All (EforAll) based in Boston, Massachusetts. “I But what about the entrepreneurs who are still hanging onto their dreams of starting a retail business? And what is that model?

Community 148
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The Future of Noninterest Income at Financial Institutions

Abrigo

Takeaway 3 Community banks have seen less volatility in noninterest income, and many are still eyeing growth across the category. Lawmakers and the regulatory community have taken notice of the increase in bank service charges and fee income and have responded, specifically regarding overdraft fees. Community banks target growth.

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Mom And Pop Pharmacies Dwindle Amid Competition

PYMNTS

A survey by the National Community Pharmacists Association last fall found the number of independent pharmacies fell by nearly 20 percent to 18,478 stores last year, down from 23,029 in 2012. Long before the coronavirus pandemic struck, the health of independent pharmacies was suffering.

Survey 200
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HUD Issues Final Rule Permitting Private Flood Insurance with FHA Loans

CFPB Monitor

As previously reported in February 2019 federal regulators issued a joint final rule (the “Joint Final Rule”) to implement provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 (the “Act”) that require regulated financial institutions to accept private flood insurance policies.

Policies 148
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Lending to nonprofits: Considerations for credit analysis

Abrigo

Based on filings with the IRS, however, reporting nonprofits’ revenues and assets grew more quickly between 2012 and 2013 than did their expenses, the Urban Institute said. notes that some nonprofits facing tighter funding from federal and state governments are turning to community banks for commercial loans and lines of credit.

Analysis 150
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What SEC Filers Have Learned About CECL Implementation

Abrigo

Ours, who is Senior Vice President and Director of Credit Administration of Summit and its 32-location bank subsidiary, Summit Community Bank Inc., Ours said that for Summit Community, which decided to use the cohort methodology, which is a loss migration approach, the choice came down to the availability of quality data. “We