Bank Wire – Guidance permits high LTV lending programs in distressed communities

Description

Abstract: This summary of recent developments in banking looks at recent OCC guidance that permits national banks to establish programs for originating higher loan-to-value (LTV) loans in communities targeted for revitalization. In addition, it notes that small and midsize businesses are willing to switch banks to obtain mobile banking and digital services. And it points out that using an automatic telephone dialing system to make calls or texts to consumers’ cell phones, without prior express consent, is largely prohibited by the Telephone Consumer Protection Act (TCPA).