“Bank Deregulatory Bill Passes House, Goes to Senate”
The House voted 270-155 to approve broad deregulatory legislation. Despite the bipartisan vote, the Senate is not expected to vote on the bill this year. Many of the provisions are long-sought changes backed by the industry such as indexing to inflation the asset-size thresholds tied to tighter oversight.
“Study Shows Decade-Long Decline in Federal Enforcement Activity”
Every federal bank regulatory agency has consistently issued fewer enforcement actions over the past 10 years, with the Fed leading the trend, a new study by the Brookings Institution found. [This is an American Banker story, and if you do not have a subscription, you can read the full Brookings report here.]
“Why Digital Leader Chase is Ramping Up Marketing for its Expanding Branch System”
Chase launched a new marketing campaign that doesn’t tout the advantages of its size and scope. Instead, the giant is echoing the main marketing pitch of community banks – the personal touch of the people inside its 5,000+ branches. The campaign also targets kids just starting to earn money.
“Four Factors that Drove Banks' Blowout 2Q Performance”
Those four factors are: capital markets, loan growth, asset quality, and a strong economy.
“NY Fed Survey Finds Highest Credit Application Rate in Nearly Five Years”
Speaking of loan growth, applications for credit hit a five-year high during the 12 months ending June 30, according to the New York Fed.
“Regulators Issue Guidance on Lending to Unauthorized Workers”
The OCC, FDIC and the NCUA issued joint guidance this week telling bankers to be aware of the credit risk involved with lending to people not legally authorized to work in the U.S.
“OCC Shutters Smallest U.S. Bank”
Too small to survive, the $3.7 million-asset Kentland Federal Savings and Loan Association of Kentland, Ind., failed this week.
In Other News
It was a week of extremes so see the largest Pop-Up book ever created (and if you’re into the biggest-ever category check out this six-story patriotic nutcracker in Minnesota), listen to the longest soccer goal-scoring call, and read about a 91-year-old breaking the age record for hiking the 2,190-mile Appalachian Trail.
Thanks for reading.