Banking Resources – Search Results
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Federal Policy Threatens Local Banks, a Top Fed Official Says
A top Federal Reserve official says that locally owned banks do a better job of serving communities and small businesses, but they are threatened by federal policies that favor their big competitors. … Read More
Taking Financial Reform into Our Own Hands
How do we change course and revive a banking system that is more local and responsive to the needs of communities?… Read More
7 Simple Steps to Move Your Checking Account
This guide will walk you through the steps of moving your bank account. You can download this a flyer to distribute in your community.… Read More
Top 5 Reasons to Choose a Community Bank or Credit Union
Here are the most compelling reasons to move your money to a locally owned bank or credit union. You can download this as flyer to distribute in your community. … Read More
Credit Unions Hang Tough, See Surge in Deposits
In the perilous aftermath of one of the worst financial disasters in U.S. history, one might expect credit unions — which, after all, are mostly tiny by the standards of the banking industry and operated on a cooperative, not-for-profit basis — to be struggling. But 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. … Read More
Five Reasons the Carper Amendment Must Be Defeated
One of the more menacing amendments circling the financial reform bill is a proposal by Senator Tom Carper (D-DE) that would bar states from enforcing consumer protection laws against national banks and would make it easier for banks to claim immunity from state laws they don’t like.… Read More
Bank Local: Indie Businesses Embrace Move Your Money
Across the country, 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 and organizational infrastructure to the Move Your Money movement. … Read More
Tools for Starting a Local Move Your Money Campaign
Is your community organization or local business alliance thinking about launching a public education campaign to encourage people to move their accounts to locally owned banks and credit unions? We have a range of resources to assist you, including help with definitions and identifying local banks, sample flyers, graphs and background articles, examples of local banking campaign materials from around the country, and more. … Read More
What Big Banks Fear More than the CFPA
Hanging in the balance of the financial reform debate is an issue that has received far less attention than the Consumer Financial Protection Agency, but is at least as important and probably more so: whether Congress will restore the authority of states to oversee national banks.… Read More
Depositing Public Funds in Local Banks
A growing number of states and cities are considering or enacting policies that move government bank accounts to small community banks and credit unions. These bills have two primary motivations: To withdraw public funds from big banks that have imposed high fees on customers and engaged in predatory mortgage lending, redlining, and other practices that destroy … Read More
Depositing Public Funds in Local Banks – Maryland (Proposed)
This bill would give local banks and credit unions a 10 percent pricing preference on bids to manage both state and municipal bank accounts.… Read More
Depositing Public Funds in Local Banks – Minnesota (Proposed)
This bill gives local banks and credit unions a 10 percent pricing preference when bidding to manage the state’s bank accounts. … Read More
Depositing Public Funds in Local Banks – New Mexico (Proposed)
The bill would give New Mexico-based banks and credit unions that otherwise meet the state’s banking requirements a 10 percent preference in bidding to be the state’s fiscal agent, the institution that manages its day-to-day banking business. The bill also requires the New Mexico Treasurer and the State Investment Council to develop an investment policy for funds held in CDs (certificates of deposit) that would increase community bank lending to local residents and businesses.… Read More
Finally, a Bill to Reinstate Limits on Bank Size
Not one to let a good crisis go to waste, Bank of America managed, in the dark days of 2008, to parlay its own insolvency and near collapse into attaining something it had long dreamed of: federal approval to bypass a national law that says that no bank may acquire another bank if it would end up holding more than 10 percent of the country’s deposits.
Now, at long last, a new Senate proposal calls for reinstating strict size caps. It would mean disassembling at least five big banks.