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After buying bank accused of redlining, Cadence gets top CRA score

American Banker

The FDIC gave Cadence Bank in Mississippi the highest possible rating on its most recent Community Reinvestment Act evaluation. Cadence was the product of a 2021 merger completed just months after the acquired bank settled a federal lending discrimination case.

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CFPB and DOJ settle fair lending claims involving allegations of redlining, discretionary underwriting and pricing, and overt discrimination

CFPB Monitor

The CFPB and DOJ recently announced a proposed consent order with BancorpSouth Bank to settle charges that the bank’s mortgage lending practices violated the Fair Housing Act and the Equal Credit Opportunity Act. While focused on mortgage lending, the settlement has significant fair lending implications for many types of non-mortgage credit.

Lending 60
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Sizzle Or Fizzle: Facebook, Online Lending, Cash – And The Twilio Surge

PYMNTS

This week it was Minnesota, and then yesterday Walmart really got warmed up and announced the expansion of their new payments service in: Michigan, Virginia, the Carolinas, Indiana, Iowa, Kentucky, Nebraska, North Dakota, South Dakota, Tennessee, Louisiana, Missouri, Mississippi and Washington, D.C. Online lending .

Lending 101
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CFPB enters into consent order with small-dollar lender to settle alleged TILA and UDAAP violations

CFPB Monitor

against Main Street, which represents “the total title finance charges made directly or indirectly by Affected Title Consumers to [Main Street] that exceed the amount of finance charges stated in the required TILA disclosure box in the Mississippi auto-title pledge agreements those consumers received.”

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Who were ICBA’s Top Lenders of 2022?

Independent Banker

Here, we highlight some of last year’s most successful loan producers in the areas of agriculture, commercial and consumer/mortgage lending. The score combines the average of the bank’s percentile rank for lending concentration and for loan growth over the past year in each lending category. By Ed Avis. Methodology. AGRICULTURE.

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CFPB announces advisory committee members

CFPB Monitor

Nikitra Bailey, EVP, Center for Responsible Lending (Durham, NC). Bruce Ocko, Senior VP Director of Mortgage & Consumer Lending, Bangor Savings Bank (Bangor, ME). Lee Chair, Mississippi State University (Mississippi State, MS). Nadine Cohen, Managing Attorney, Greater Boston Legal Services (Boston, MA).

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CFPB and All American Check Cashing agree to settlement conference

CFPB Monitor

The CFPB and All American Check Cashing have filed a status report with the Mississippi federal district court indicating that they have agreed to a settlement conference before a magistrate judge.