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Bank of Guam's transformation into a more digital institution

American Banker

Some of the challenges Bank of Guam faces are unique. But its search for vendors and local talent will feel familiar to community banks across the U.S.

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HUD announces 2023 loan limits for FHA forward mortgages and HECMs

CFPB Monitor

In Alaska, Guam, Hawaii and the U.S. For forward mortgage loans in non-high cost areas, the amount for a single unit home increased from $420,680 in 2022 to $472,030 in 2023. In high cost areas, the amount for a single unit home increased from $970,800 in 2022 to $1,089,300 in 2023.

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FHFA Announces 2023 Conforming Loan Limits

CFPB Monitor

For high-cost areas, and also for Alaska, Guam, Hawaii and the U.S. As was expected based on the significant increase in housing prices during 2022, the limits increased substantially. The standard loan limit for a one-unit home increased from $647,200 in 2022 to $726,200 for 2023.

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Bank of Hawaii offers Zelle in Saipan, Guam

The Paypers

Bank of Hawaii has announced that Zelle is now available to Guam and Saipan customers in its mobile banking app, bringing residents a person-to-person payment option.

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Report: Address Verification APIs Fix eTailers’ Last-Mile Problem

PYMNTS

based Bank of Hawaii has announced it will be expanding its onboarding solutions to allow new customers in Guam, Palau and Saipan to sign up for its services. Relying upon digital onboarding can also help entities expand the number of markets — and thus the number of consumers — that entities can target.

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Zuckerberg Visits DC To Talk Tech Laws With Senators  

PYMNTS

AGs from 39 states, as well as Puerto Rico, Guam and the District of Columbia, have all signed a letter to the FTC asking it to look at a large range of factors when it comes to how Big Tech is harming consumers.

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More PPP Funds Would Help CDFIs Lend Money To Micro Businesses

PYMNTS

CDFIs — which exist in all 50 states, the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands — offer loan money in times of disaster to businesses that typically can’t get funding from banks. CDFIs focus on serving the needs of the poor and working-class in urban and rural communities and are typically controlled locally.