Originally established in 1977, The Community Reinvestment Act (CRA) was designed to encourage banks to meet the credit needs of their entire community (and end redlining), with a particular focus on low to moderate income areas. A fresh look at…
Not All Bank Service Fees are Junk Fees
Mr. Rohit Chopra and the Consumer Financial Protection Bureau (CFPB) are working hard to bring down fees that are not justified (i.e. junk). In fact, in its Fall 2023 issue of Supervisory Highlights, the CFPB reported that its work has…
It’s Not the Water, It’s the Economy
The commercial loan sector is one that continues to make news for all of the wrong reasons. A list of 51 banks is provided in this week’s issue of Jumbo Rate News that are each showing signs of stress in…
More Bank Regulation Means More CUs Buying Banks
Since the beginning of 2022, 20 credit unions have completed bank acquisitions; several more acquired just branches. More bank regulations only serve to compound this phenomena. Page 5 of this week’s Jumbo Rate News includes the 20 credit unions that acquired…
Credit Union Share (Deposit) Growth
After the three fairly large and very public bank failures earlier this year, we heard much anecdotal evidence that deposits fled from banks to credit unions. Credit Union deposits did, indeed grow by 2.13% in the first quarter. Bauer’s LLAMAS…
Bank Growth Has Taken Flight
In the past 20 years, the number of banks in the United States has been cut in half while industry assets have grown by 163%. Some of this is due to mergers and acquisitions as the industry has consolidated. Upon…
U.S. Credit Card Debt Surpasses $1 Trillion
Household Debt in the United States has increased 53% in the past 10 years and consumers are becoming less optimistic about their financial futures. There are 53 banks that saw their consumer loan portfolios grow at least 2.5% during the…
All New Credit Union Star-Ratings Available
Credit Unions posted double digit increases in all major loan categories over the 12 month period ending June 30, 2023. However, delinquencies and charge-offs are also on the rise. So, much like we reported with banks last week, the 51…
Asset Quality Shows “Modest Deterioration”
On Thursday (9/7/23), the FDIC finally released its Quarterly Banking Profile (QBP) detailing the banking industry at the close of the second quarter 2023. In the FDIC reported that “Asset quality metrics remained favorable despite modest deterioration.” As an industry…
All New Bank Star-Ratings this Week
At $42.2 billion, loan loss provisions for the first half of 2023 were nearly 160% higher than the first half of last year. As an industry, banks are well-provisioned to handle any upcoming downturn. However, not all individual banks can…