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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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Key looks to offload risk in deal with Blackstone

American Banker

The Cleveland-based regional bank is shedding credit risk in a partnership with the private equity giant Blackstone. It's the latest tie-up between asset managers and regional banks that are looking to free up balance-sheet capacity.

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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. Crypto Regulations. Banking, Eyed by the Fed.

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US Retail Vacancies Hold Steady At 10.2 Percent

PYMNTS

In the fourth quarter, the regional and super regional mall vacancy rate fell slightly as overall retail vacancies in the U.S. Cities like Austin and Orlando saw the most growth in retail rents, as cities such as Cleveland and Salt Lake City saw the largest drops. stayed constant. percent, CNBC reported.

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Scotiabank to buy 14.9% of KeyCorp for about $2.8B

BankInovation

Bank of Nova Scotia agreed to buy a minority stake in KeyCorp, which was among the US regional banks hit hardest in last year’s tumult, for about $2.8 of Cleveland-based KeyCorp by buying shares at $17.17 billion as part of a focus on North America. Scotiabank will acquire 14.9% each, representing an 11% premium to […]

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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.