Articles

Agencies Issue Clarifying Statement on Banking Hemp-Related Businesses

February 28, 2020 - 2 min read

On December 3, 2019, the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Financial Crimes Enforcement Network (FinCEN), and the Office of the Comptroller of the Currency (OCC) in consultation with the Conference of State Bank Supervisors (CSBS), issued a statement, “Providing Financial Services to Customers Engaged in…

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LoanPricingPRO® Registers Record Increase in Client Use in 2019!

January 9, 2020 - 3 min read

  Many thanks to our new and continuing clients – we couldn’t do it without You! LoanPricingPRO® software, the commercial loan pricing system from ProBank Austin, had its best year ever in 2019, experiencing client utilization growth of 21%, following solid growth of over 10% in 2018. Growth was fueled by both new clients signing…

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Agencies Issue Final Rule to Update Management Interlock Rules

January 7, 2020 - 1 min read

On October 2, 2019, the OCC, FDIC, and Federal Reserve issued a final rule that increases the thresholds in the major assets prohibition for management interlocks for purposes of the Depository Institution Management Interlocks Act (DIMIA). The DIMIA major assets prohibition prohibits a management official of a depository organization with total assets exceeding $2.5 billion…

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ProBank Austin Advisor

October 21, 2019 - 1 min read

Confusion was heightened with the release of data last week. Fuel for those anticipating a recession was provided last week. Retail sales were reported as having dropped by 0.3% for the month of September. For those forecasting a recession in the next twelve months this was viewed as proof the consumer has slowed spending. Consumer…

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ProBank Austin Advisor

October 14, 2019 - 1 min read

The Fed is caught between some progress on risks and no inflation pressures The decision the Fed will make in two weeks became more difficult last week. The inflation data came in much lower than has been the case in the last three months. The PPI dropped by 0.3% in September which took the year-over-year…

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Credit Report Freezes (Including Minors)

October 8, 2019 - 7 min read

Section 301 of the Economic Growth, Regulatory Relief, Consumer Protection Act revised the Fair Credit Reporting Act to provide for new rules regarding national security freeze procedures for credit reports. A security freeze is a restriction that prohibits a consumer reporting agency from disclosing the contents of a consumer report that is subject to such security…

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ProBank Austin Advisor

October 7, 2019 - 1 min read

The solid labor market report for September makes any change by the Fed difficult. An increasing number of forecasts for a recession in 2020 have been based on a slowdown in growth in the labor market. The September labor data calls this into question. The biggest surprise was the drop in the unemployment rate to…

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ProBank Austin Advisor

September 30, 2019 - 1 min read

A new uncertainty, impeachment, has now been added to existing risks. On top of the uncertainties cited by the Fed in their decision to cut managed interest rates in the last two months, we are now dealing with political instability with impeachment proceedings. None of this can be good for either business or consumer confidence….

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Michigan Banking Summary – East Meets West and North Heads South

September 26, 2019 - 5 min read

September 18th marked another notable day in Michigan banking, as shareholders at two in-state institutions involved in a pending merger approved their proposed union, while leadership at two other in-state banks announced plans to combine resources. Banking consolidation is nothing new, and most assuredly will continue. Considering recent statistics that reflect a universe that is…

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ProBank Austin Advisor

September 23, 2019 - 1 min read

The Fed added to uncertainty last week with no consensus coming from the meeting. As expected, the Fed dropped the target range for Fed Funds by 25 basis points last week. The problem was they sent no signal as to future changes in monetary policy. It was clear from the vote on the FOMC and…

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