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Sylvia C. Brown, in blue with megaphone, marched at a King Day eventin Hope. A social impact advocate and public policy strategist, she believes a Community Reinvestment Act update would benefit many Arkansans. [Steve lewis]

Federal Lawsuit Delays New Community Reinvestment Act Rules, Leaving Banks in LimboLock Icon

Since Jimmy Carter signed it in 1977, the CRA has required federal agencies to review thousands of banks’ efforts to meet the credit needs of their communities, particularly low- and moderate-income areas. read more >
U.S. Rep. French Hill has issued a list of 25 priorities to “Make Community Banking Great Again.” [photo provided]
Small Business

Views From the Chair: French Hill’s Plans for Leading Financial Services PanelLock Icon

U.S. Rep. French Hill, as chairman of the House Financial Services Committee, plans to reduce regulatory burdens for community banks while promoting innovation and transparency in finance. read more >
Banking & Finance / Public Companies

Simmons’ Q2 Income Falls 30% on Rising Deposit Costs, Credit Provisions

The bank reported earnings of 32 cents per share, which surpassed Wall Street expectations. read more >
Banking & Finance / Government & Politics

Bank of England Hit With $1.5M Penalty for Deceptive Loan Practices

The FDIC handed down the penalty after a string of violations at Bank of England's former loan production office in West Bloomfield, Michigan. read more >
Banking & Finance / Industry

Why Do Banks Fail? Arkansas Execs Offer Some AnswersLock Icon

Johnny Allison, CEO of Centennial Bank of Conway, and Randy Dennis, who leads DD&F, share their thoughts. read more >
Banking & Finance / Industry / Investments

Inside Bank OZK: George Gleason’s 10 Defining MomentsLock Icon

With 45 years to choose from, George Gleason has plenty of options for naming the biggest events during his tenure at Bank OZK. read more >
Banking & Finance / Government & Politics / Legal

FDIC Sanctions Nine Bank of England Mortgage Employees

Federal bank regulators said a branch in suburban Detroit engaged in bait-and-switch tactics and other systemic deception of customers. read more >
Banking & Finance / Public Companies

Simmons Profit Falls on FDIC Assessment, Securities Losses in Q4

The bank reported net income of $23.9 million, down 71.3% from the same quarter the previous year. read more >
Banking & Finance / Public Companies

Banks Upbeat on US Consumer Despite Bank Profit Declines, Inflation and Rising Debt Levels

The biggest banks in the country posted strong profits last year, helped by higher interest rates and a strong economy, despite having to deal with the lingering industry costs of last year's banking crisis that caused the collapse of Silicon Valley Bank and Signature Bank. read more >
Banking & Finance / Public Companies

Arkansas Bank Deposit Growth Slows to 1.5%

It's the slowest growth since 2014, bringing total deposits to slightly more than $97 billion as of June 30. read more >

Money Stored in Payment Apps Could be Vulnerable, Financial Watchdog Warns

The alert comes several weeks after the failure of Silicon Valley Bank, Signature Bank and First Republic Bank, which all experienced bank runs after fearful customers with uninsured deposits pulled their money en masse. read more >
Banking & Finance / Government & Politics

Former CEOs of Failed Banks to Testify Before Senate Panel

The Senate Banking Committee indicated Tuesday that it will hold a hearing May 16 with Silicon Valley Bank's former CEO, Gregory Becker, as well as Signature Bank's former chairman and co-founder, Scott Shay, and its former president, Eric Howell. read more >
The Federal Deposit Insurance Corp. in Washington, D.C.
Banking & Finance / Government & Politics / Insurance

FDIC Recommends Overhauling US Insurance Deposit System

Under the proposal, the FDIC would offer business account coverage a higher levels than ordinary consumer deposits receive, the FDIC said. read more >
A First Republic Bank office in Newport Beach, California
Banking & Finance / Government & Politics

First Republic Bank Seized, Sold to JPMorgan Chase

San Francisco-based First Republic is the third midsize bank to fail in two months. It is the second-biggest bank failure in U.S. history, behind only Washington Mutual, which collapsed at the height of the 2008 financial crisis and was also taken over by JPMorgan. read more >
Michael Barr, the Fed's vice chair for supervision, testifies before the U.S. Senate Banking Committee on March 28, 2023
Banking & Finance / Government & Politics

Fed Faults Silicon Valley Bank Execs, Itself in Bank Failure

The report also points out underlying cultural issues at the Fed, where supervisors were unwilling to be hard on bank management when they saw growing problems. read more >
Banking & Finance / Government & Politics

Fed Official: Bank Rules Under Review in Wake of SVB Failure

Senate Republicans questioned whether new rules were needed and noted that the Fed had had the authority to force Silicon Valley to address its shortcomings. read more >
Silicon Valley Bank headquarters in Santa Clara, California
Banking & Finance

Troubled Silicon Valley Bank Acquired by First Citizens

More than half of Silicon Valley's assets will remain in U.S. receivership. read more >
Silicon Valley Bank headquarters in Santa Clara, California
Banking & Finance / Government & Politics

Will Americans End Up Footing the Bill for Bank Failures?

The White House is desperate to avoid any perception that average Americans are "bailing out" the two banks in a way similar to the highly unpopular bailouts of the biggest financial firms during the 2008 financial crisis. read more >
Fed Chair Jerome Powell speaks during a meeting of the U.S. House Financial Services Committee on Dec. 1, 2021. 
Banking & Finance / Government & Politics

Fed Faces a Blurrier Outlook as it Meets to Weigh Rate Hike

Most Fed watchers expect the central bank to announce on Wednesday afternoon a relatively modest quarter-point hike in its benchmark rate. read more >
The Federal Deposit Insurance Corp. in Washington, D.C.
Banking & Finance / Government & Politics

Experts, Banks Look for Ideas to Stop Next Bank Failure

The search for causes and culprits — and solutions — is refocusing attention on a 2018 federal law that rolled back tough bank regulations. read more >