ILSR supports the Consumer Financial Protection Bureau’s proposed “open banking” rule to establish important guardrails for digital banking. But it needs additional provisions to ensure that smaller, relationship-oriented financial institutions can access fair competition.… Read More
In a comment letter to the Consumer Finance Protection Bureau, ILSR raised several areas of concern that the agency should examine as part of its inquiry Into Big Tech payment platforms.… Read More
After Congress authorized a second round of PPP funding in May, news stories suggested that the big banks, like JP Morgan Chase and Bank of America, were picking up the pace and catching up to small banks. Yet data on total PPP lending through June 6 continue to show that a greater presence of big banks in a state correlates with fewer relief loans made to small businesses.… Read More
A significantly larger number of federal relief loans are reaching small businesses in states where small, local banks comprise a greater share of the market, compared to states where big banks are more dominant, an ILSR analysis has found. … Read More
In the American Prospect, ILSR Legal Fellow Shaoul Sussman explains that it is almost impossible for small businesses selling on Amazon’s platform to borrow from private banks, forcing entrepreneurs to borrow from Amazon itself.… Read More
Credit card lending has seen major growth for banks in the past decades. Giant banks dominate credit card lending today, with a 65 percent share.… Read More
The number of community banks has declined sharply in the last decade. Most of the decline is owed to the fact that virtually no new banks have been created since 2009. Why the sudden absence of new banks?… Read More
The share of U.S. deposits held by the largest financial institutions has exploded from 8 percent in 1994 to 52 percent in 2018, as these three charts show.… Read More
The total number of commercial banks in the U.S. began a period of dramatic decline in the late 1980s and early 90s. … Read More
