BB&T and SunTrust Announce $60 Billion Trust Bank Community Benefits Plan
The Community Benefits Plan is a result of input received in listening sessions that BB&T and SunTrust hosted in metro and rural communities around the combined institutions’ forecasted geographies.
Source: PR Newswire
How Is Machine Learning Transforming Small Business Lending?
Machine learning is profoundly transforming SMB lending, at the benefit of both lenders and borrowers. Through predictive models, data analysis, and effective loan monitoring, we’re seeing new solutions to notorious issues of the lending industry.
Source: Inside Big Data
Local Credit Unions See Opportunity As Community Development Lenders
Credit unions have been making progress as CDFIs, but some of them are expanding their capability to serve unbanked communities through membership in the National Federation of Community Development Credit Unions
Source: Hartford Business Journal
House Passes Bill to Hike the Federal Minimum Wage to $15 Per Hour
While some hail the bill as a win for workers and the economy as a whole, some fear it may harm the economy more than it helps—with small business being impacted the worst.
How Data Helps Lenders Manage the Balancing Act of Risk
Financial institutions are in a constant balancing act: open up access to capital for borrowers to promote economic growth and financial inclusion and mitigate against risk exposure. Data is at the heart of this dilemma.
Financial Fix: Minority-Owned Businesses Play a Major Role in Arizona’s Growth
As Tucson continues to see job and business growth, economic forecasts look bright. One of the most overlooked factors in this success has been minority-owned business growth. Census data shows that minority-led firms in Arizona grew by nearly 59% in just five years.
Source: Inside Tucson Business