For 40 years now, 4-Star PNC Bank, N.A., Wilmington, DE (formerly Provident National Bank) has provided us with a whimsical inflation reminder. It calculates how much it would cost to purchase all of the items from the “Twelve Days of…
New CU Star-Ratings + Is There a Soft Landing in Sight?
All credit union and bank star-ratings and reports are now updated based on third quarter 2023 financial data. After the failures this spring of Silicon Valley Bank, Signature Bank and First Republic Bank, a number of big bank deposits made their…
The Grinch(es) Who Stole PPP Money
According the Federal Reserve Bank of St Louis, 90% of all PPP loans had been forgiven by June 20, 2022. Yet, at September 30, 2023, more than a year later, over 1,400 U.S. banks are still reporting some amount of…
New Bank Star Ratings Just Released
All bank star ratings are now based on third quarter 2023 financial data and the word of the day is resilience. However, Bauer currently rates 49 banks 2-Stars or below. (That’s four fewer than last quarter and two fewer than…
Forget About Ham, Grab Yourself a Turkey
The cost of a traditional thanksgiving dinner dropped 4.5% from last year. If you don’t notice when you’re paying your grocery checkout, it’s likely because prices are still 25% higher than they were in 2019. Farmers and ranchers only see…
Subpar Credit Unions with Uninsured Deposits
The total of uninsured shares/deposits reported by U.S. credit unions was cut by $7 billion during the 12 months ending June 30, 2023. However, at $158 billion, uninsured credit union deposits remain quite high. What’s more, $630 million of that…
New CRA Rules Coming Soon
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…