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Yesterday, we published a blog post in which I urged the CFPB to agree to extend the relief granted by the Texas federal district court in the lawsuit challenging the CFPB’s final small business lending rule (Rule) to all entities covered by the Rule.
The topics we discuss are: implications of the SCOTUS Seila Law decision on CFPB rules, past consent orders, ongoing enforcement, and the Texas lawsuit challenging the CFPB payday loan rule; DOJ/FTC auto dealer fair lending actions, status of disparate impact, and Google targeted advertising changes; the CFPB’s new advisory opinion program; timing (..)
To exemplify, here are three Texas bank''s "Business" and "Business Strategy" sections to their most recently filed 10k. I picked Texas because of their perceived independent streak. Lending services include commercial loans to small to medium-sized businesses and professional concerns as well as consumers. Independent?
Here, we highlight some of last year’s most successful loan producers in the areas of agriculture, commercial and consumer/mortgage lending. Using FDIC data for 2021, we calculated a lender score out of 100 for each community bank. Ag lending in the South: Relationships matter. It also indirectly benefits our lending business.
The other provision is Section 22324 which prohibits “contract[ing] for or “negotiat[ing] in this state for a loan to be made outside of the state for purpose of evading or avoiding” California lending law. OppFi has filed a motion to compel arbitration which is opposed by the plaintiff.
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. State Bank of Texas. United Texas Bank. 300 million to $1 billion. 3-yr average pre-tax ROA. Overland Park. Gateway First Bank. Plains Commerce Bank.
To date, CFPB enforcement actions have raised “rent-a-charter” challenges only in the context of tribal lending, most notably in its enforcement action against CashCall. The CFPB’s lawsuit broke new ground by asserting UDAAP violations based on CashCall’s efforts to collect loans that were purportedly void in whole or in part under state law.
Bank Acquisition of the Year has to go to SouthState Corporation for its big move into Texas with the acquisition of Independent Bank Group. Holland, who started his first bank at age 26, had a dream of building a Texas banking category killer when he and team members founded Veritex 15 years ago. billion in market cap.
Inside the FDIC: Thirty Years of Bank Failures, Bailouts, and Regulatory Battles 2015 Louis D. The Great Texas Banking Crash: An Insider's Account 1996 Howard Green Green, Howard Banking On America: How TD Bank Rose to the Top and Took on the U.S.A. Giannini: Banker of America 1994 Richard X. Bove Bove, Richard X. 2013 Joshua R.
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