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Community Banks

Money and the Magic Pill

Don McNay | Posted 05.25.2011 | Business
Don McNay

Right now, the top six "too big to fail" banks control about 70% of the wealth in America. Here's how we can all change that.

Wall Street Financiers Look To Make A Killing Off

Reuters | Matthew Goldstein | Posted 05.25.2011 | Business

Hundreds of small banks across the country are struggling to keep their doors open, but the industry's overseers in Washington, D.C. are more wary tha...

SBA Lending Tanks While Business-Loan Applications Proliferate at Sam's Club

Jerry Chautin | Posted 05.25.2011 | Business
Jerry Chautin

Amidst the foreboding headlines, there is a not-so-noticeable success story for small-business borrowers. SBA's Community Express Program continues to chug along at a brisk pace.

Was "Financial Reform" Really Robin Hood In Reverse?

Don McNay | Posted 05.25.2011 | Business
Don McNay

"Financial Reform" will be a boom for people in the payday loan business. There will be many new customers who need bank-like services. It's almost like Congress implemented a plan of "Reverse Robin Hood."

Taking Financial Reform Into Our Own Hands

Stacy Mitchell | Posted 05.25.2011 | Business
Stacy Mitchell

As much as Citigroup, Goldman, and Chase may wish it to be, the overhaul of our banking system is not over. Round two begins now: in our wallets, our communities, and our state governments.

Move Your Money to Your Local Bank? Maybe Not Yet

Bekeh Utietiang | Posted 05.25.2011 | Business
Bekeh Utietiang

While there may be local banks that are truly interested in building up their communities, we should not be deceived that just because it is a local bank, it is good for the community.

Citi Field: Baseball's Symbol of Why You Should Move Your Money

Don McNay | Posted 05.25.2011 | Business
Don McNay

Houston was able to find a stadium sponsor to replace Enron. A city as big as New York should be able to find a sponsor for the Mets' field that is not funded by the American taxpayers.

Arianna On 'John King USA': Move Your Money, Support Your Community Instead Of Too Big To Fail

Huff TV | Posted 05.25.2011 | Business
Huff TV

Arianna appeared on CNN's "John King USA" Wednesday night to talk about the "Move Your Money" campaign, which she said allows people to act where gove...

Arthur Delaney

St. Louis Union Withdraws $100,000 From 'Unethical' Bank Of America | Arthur Delaney | Posted 05.25.2011 | Business

A St. Louis union dumped Bank of America on Friday morning, closing a $100,000 account to spank the bank for its bailouts, bonuses and foreclosures. ...

Moving our Money in Somerville

Joe Grafton | Posted 05.25.2011 | Business
Joe Grafton

An emerging body of economic research shows that doing business with local independents is the fastest way to restart and reshape our economy.

Move Your Money: Surveying Deposit Changes From the First 90 Days

Dennis Santiago | Posted 05.25.2011 | Business
Dennis Santiago

Nearly six months after we launched, we're now able to see the numerical effects of the Move Your Money concept.

Survey: More Consumers Willing To Switch banks

Los Angeles Times | E. Scott Reckard | Posted 05.25.2011 | Business

Like them or not, banks can be hard to leave. Who wants to transfer accounts, get used to new branch locations or master a different online banking sy...

Mike Coffman Votes against Local Banks, Small Business

John Flerlage | Posted 05.25.2011 | Home
John Flerlage

What further proof do you need, business leaders, bankers, citizens and voters, that Mike Coffman has little interest in solutions, in helping small b...

Chicagoans Must Rally Around ShoreBank

Karen K. Harris | Posted 05.25.2011 | Chicago
Karen K. Harris

ShoreBank, a staple of the Chicago community, may be in jeopardy of seizure if it does not receive TARP funds from the Federal Reserve Bank.

Big Banks: Worry About Customers, Not Regulations

Rob Rubin | Posted 05.25.2011 | Business
Rob Rubin

Big banks might win some of the regulation battles and figure out how to protect their fee revenue in the short-term, but they're losing the war for customers. Eventually, customer-attrition will force them to change or perish.

Shahien Nasiripour

Larry Summers Defends Megabanks, Says Too Many Small Banks Make U.S. 'Less Stable' | Shahien Nasiripour | Posted 05.25.2011 | Business

President Barack Obama's top economic adviser defended megabanks Thursday, arguing that breaking them up serves no purpose and that a proliferation of...

Credit Unions Hang Tough, See Surge in Deposits

Stacy Mitchell | Posted 05.25.2011 | Business
Stacy Mitchell

Data from the last 18 months show that the country's 7,600 credit unions are in fact outperforming big banks and rapidly expanding their market share. Since the start of 2009, credit unions have added more than 1.5 million new members.

A Small-Business Bank with National Impact Has Died

Jerry Chautin | Posted 05.26.2011 | Business
Jerry Chautin

I lost a friend last week. Innovative Bank of Oakland, Calif. is kaput. Just like with other bank failures, the regulators swooped down on the floundering bank after the stock market closed on Friday.

Bank Local: Indie Businesses Embrace Move Your Money

Stacy Mitchell | Posted 05.25.2011 | Business
Stacy Mitchell

Independent business groups that have been urging people to "buy local" are now making "bank local" an increasingly prominent part of their message, bringing new grassroots visibility to the Move Your Money movement.

Community banks capitalize on social media

Brett King | Posted 05.25.2011 | Business
Brett King

Community banks and credit unions have been around since the mid 1800s. Unlike most commercial banks which exist as publicly listed companies, credit ...

Senate Banking Committee Slaps 'Giant Wall Street Banks,' Argues That Reform Helps Community Banks

Huffington Post | Posted 05.25.2011 | Business

The Obama administration and its congressional allies seem to be getting more aggressive in the push to pass financial regulatory reform. Last Wednesd...

Shahien Nasiripour

Top Fed Official Says Megabanks Need To Shrink Or Crises Will Keep Occurring | Shahien Nasiripour | Posted 05.25.2011 | Business

The U.S. financial system is tilted in favor of the biggest banks, compromising the "very foundation of the economic system" and putting the nation at...

Christina Marie Fierro

Top Official, Citing TARP, Doubts Obama's Small Business Lending Plan | Christina Marie Fierro | Posted 05.25.2011 | Business

The watchdog overseeing TARP doubts that President Barack Obama's plan to boost lending to small businesses will actually work, according to prepared ...

Community Banks and Credit Unions Respond to Customers Faster Than Big Banks

Rob Rubin | Posted 05.25.2011 | Business
Rob Rubin

The difference between some banks and bad plumbers is that instead of taking our business elsewhere, we lower our expectations and stay put. That's pretty dysfunctional.

Shahien Nasiripour

Federal Oversight Panel Slams Obama's Small Business Plans, Says Administration Not Doing Enough | Shahien Nasiripour | Posted 05.13.2010 | Business

A federal oversight panel criticized the Obama administration's attempts to boost small business lending, expressing doubts on everything from the pla...