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Key has big ambitions for its new CDFI partnership

American Banker

The Cleveland-based regional bank recently announced a $20 million line of credit for Lendistry, a Los Angeles-based, minority-led community development financial institution.

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Community banks most likely to approve small business loans

Abrigo

According to a recent survey from four Federal Reserve Banks, small regional and community banks have the highest approval rate for small business loans. The 2014 Small Business Credit Survey was a joint operation conducted by the Federal Reserve Banks of New York, Atlanta, Cleveland and Philadelphia.

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KeyCorp raises community investment plan to $40 billion

American Banker

The Cleveland company is more than doubling an earlier commitment in order to support racial equity and environmental sustainability.

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Payroll Fraud Could Cost KeyCorp $90M

PYMNTS

Regional banking firm KeyCorp disclosed a massive instance of fraud on Tuesday (July 16) that could potentially cost $90 million, according to a report by CNBC. In a K-8 filing, KeyCorp, which is based in Cleveland, said the fraud involved a “business customer” and that it was discovered “on or about” July 9. Shares fell on the news.

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Facebook Faces Billions In Possible GDPR Fines

PYMNTS

Also in Europe, the European financial markets regulator has said that it wants to spend one million euros to promote market stability in the region as pertains to cryptocurrencies and FinTechs. That document focuses on budgets and regulatory efforts across the region. community banks and small business lending.

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Amid Contentious M&A Deal, KeyCorp Pledges $16.5B of Lending

American Banker

KeyBank, a $93 billion-asset bank headquartered in Cleveland, announced plans Friday to direct $16.5 billion in lending toward low- and moderate-income communities over five years beginning in 2017.

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18 Corporate Innovation Labs In Healthcare

CB Insights

Notable projects: The Mayo Clinic OB Nest explores ways for women with low-risk pregnancies to reduce the number of their in-person doctor visits through a combination of dedicated nurses, a special online community, and in-home monitoring. Cleveland Clinic — Cleveland Clinic Innovations (CCI). Founded: 2000.