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GAO: FinTech Firms, FIs Seek Alternative Data Clarity In Lending

PYMNTS

Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. Such alternative data, said the GAO, could pose risk to such lending decisions. Sandboxes, Gathering Steam.

Lending 150
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Crowdfunding, Deferred Loan Payments Jumpstart SMB Relief

PYMNTS

Each week, PYMNTS will round up some of the latest initiatives from governments, banks and FinTechs around the world to lend support for small businesses struggling as a result of the coronavirus. have launched new crowdfunding programs to support SMBs’ need for capital. Fed Calls On Small Banks. FinTechs Encourage SMB Crowdfunding.

Payments 173
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How a Wyoming credit union is doing more lending despite lower demand

American Banker

Consumer appetites for new loans have slowed in the face of record interest rates, but Sunlight Federal Credit Union's partnership with Avana Capital helps identify commercial real estate opportunities in markets both local and national.

Wyoming 81
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Zions Bancorporation goes live on TCS BaNCS Core Banking software

Bobsguide

The core transformation program, titled “FutureCore,” is divided into phases and Consumer Lending for the 7 affiliate banks is the first phase to go live, with other phases to follow. The completion of this consumer lending installation represents our first step toward having a fully integrated core loan and deposit system.

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All Pain, No Gain

Independent Banker

Nearly one year after the Basel III capital rules went into effect, community bankers say that now recognize just how much more complex and how much more difficult this new set of capital rules will make life and business for them if they remain in place. Kim DeVore, chief financial officer for Jonah Bank of Wyoming, in Casper, Wyo.,

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The top-performing community banks of 2021

Independent Banker

Wyoming Bank & Trust. In order to compete as a small bank, we have been forced to keep higher-than-peer capital levels, so that our lending limit allows us to service local borrowers’ needs. Capital Community Bank. First Western Federal Savings Bank. Rapid City. Bank of Montana. First Bank of Ohio. First State Bank.

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From Farce to Menace

Independent Banker

Even more obviously absurd, one provision would allow community credit unions in seven states—Montana, Alaska, Delaware, North Dakota, South Dakota, Vermont and Wyoming—to serve their entire state. Basically, all air-breathing mammals in the United States would qualify to be credit union members.