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DOJ Settles with Patriot Bank for Redlining in Memphis

CFPB Monitor

million to resolve allegations that the Bank engaged in a pattern or practice of redlining majority-Black and Hispanic neighborhoods in Memphis, Tennessee from 2015 to at least 2020, in violation of the Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA). Continue Reading

Memphis 125
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Judge blocks Memphis credit union's acquisition of local bank

American Banker

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Memphis 99
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FedEx Eyes Stake In Germany’s Hermes Delivery Service

PYMNTS

The Memphis-based delivery company has instead seen a massive upswing in low-margin personal home deliveries as people start to shift to eCommerce during the pandemic. FedEx has been seeing an upheaval of its business and may have to tap into debt to make up for the dearth of the usual high-profit business shipments.

Memphis 215
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SoftBank’s Vision Fund 2 Prepping Future Investments

PYMNTS

Sources have said that the Japanese conglomerate is reportedly in talks about funding Alto Pharmacy , a pharmaceutical delivery startup; Creator , which is focused on robotic burger-making; and Memphis Meats, a maker of lab-grown meat. It is still raising money for the new fund, which is expected to be larger than its first Vision Fund.

Memphis 100
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SoftBank’s Vision Fund 2 Could Back Burger Maker, Pharma Delivery Firm

PYMNTS

Sources have said that the Japanese conglomerate is reportedly in talks about funding Alto Pharmacy , a pharmaceutical delivery startup; Creator , which is focused on robotic burger-making; and Memphis Meats, a maker of lab-grown meat. It is still raising money for the new fund, which is expected to be larger than its first Vision Fund.

Memphis 100
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Digital Bank Startup Branch Offers Mobile Payments

PYMNTS

In addition to its partnership with Mastercard, Evolve Bank & Trust, the Memphis-based lender, will provide a free checking account and debit card. Along with Branch’s identity-verification process, mobile wallets offer additional safety features, Branch said. .

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Listen: Opportunities in crypto for banks, FIs

BankInovation

This is the message from Lawrence Pruss, senior vice president at Memphis, Tenn.-based As interest and investment in cryptocurrency spikes this year, banks and financial institutions (FIs) must decide whether and how to become involved, or potentially lose revenue and customers if they opt out.

Memphis 98