by Ken Chase | Mar 5, 2023 | Banks, News
The United States Department of Justice recently announced that Ohio-based Park National Bank has agreed to a $9 million settlement over allegations of redlining lending discrimination. According to the DOJ, Park National has cooperated with the department to correct...
by Ken Chase | Mar 5, 2023 | News
A new report from the Consumer Financial Protection Bureau was published this week, and provided insight into consumer use of Buy Now, Pay Later options. The “Consumer Use of Buy Now, Pay Later Insights from the CFPB Making Ends Meet Survey” report found that BNPL...
by Ken Chase | Mar 3, 2023 | Banks, News
In a press release this week, Redemption Holding Company (RHC), a black investor group, announced that it is acquiring Holladay Bank and Trust, a Utah commercial bank. According to the RHC statement, the purchase will be the first time that an existing commercial bank...
by Ken Chase | Feb 27, 2023 | Financial, News
The United States Supreme Court has agreed to consider a case involving the constitutionality of the Consumer Financial Protection Bureau’s (CFPB) funding structure. The justices confirmed on Monday that they will hear arguments when the court’s next term begins in...
by Ken Chase | Feb 27, 2023 | Banks, News
A group of U.S. regulatory agencies released a joint statement this week, calling on the nation’s banks to be vigilant to potential liquidity risks associated with cryptocurrency. The statement urged financial institutions to focus on implementing tools and systems to...
by Ken Chase | Feb 26, 2023 | Banks, News
Several major banks have reportedly decided to restrict the use of OpenAI’s ChatGPT chatbot by their employees, according to a report this week from Bloomberg. The banks are apparently concerned about an array of issues related to the technology, including concerns...
