Coleman Report

July 14, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — Former BB&T Market President Charged with Bank Fraud Another banker is indicted for fraud, not for taking money, but for bending the rules in an attempt to bail out a borrower. I’ve written in the past of the strong psychological need some bankers…

July 13, 2017 By Bob Coleman Editor, Coleman Movers and Shakers Coleman Movers & Shakers — John DeFranza Named SVP for People’s United Bank “SBA lending is a key component of the Bank’s strategic growth plans, so having access to John’s exceptional knowledge and national experience in this area is vital to our long-term success,”…

July 12, 2017 By Bob Coleman Editor, C-Suite C-Suite Wednesday — House Small Biz Chairman Demands Answers from CFPB With CFPB’s 60-day notice up on July 15th asking for comments on how best to enforce fair lending laws on small business lenders, Congress is paying attention. Writes House Small Business Chairman Steve Chabot, “Small business…

July 11, 2017 By Walter H. McLaughlin Contributor SBA Hot Topic Tuesday — Understanding SBA’s EPC/OC Rules Of the many positives SBA financing provides Main Street, one of the most important is the ability to purchase owner-occupied properties on reasonable terms and rates. Through the 504 and 7(a) programs, eligible small businesses can preserve much-needed…

July 10, 2017 Main Street Monday — Small Business Delinquency Index up 10 Basis Points By Bob Coleman Editor, Main Street Monday A barometer of small companies’ financial health suggested companies are finding it easier to pay off old loans. The share of loans more than 30 days past due was 1.69 percent in May,…

July 7, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — Payment Processing Company CEO Gets 15 Months for Unauthorized Withdrawals “Payment processors who knowingly facilitate consumer fraud commit a federal offense,” says Acting Assistant Attorney General Chad A. Readler of the Justice Department’s Civil Division. “We are committed to protecting consumers from unknown…

July 5, 2017 By Bob Coleman Editor, C-Suite C-Suite Wednesday — Congressman Investigates Fintech Small Business Lenders I don’t know if the CFPB will eventually require small business lenders to prove they do not discriminate underserved markets by either declining loans or charging higher interest rates, but the drumbeat continues. Democratic Congressman Emanuel Cleaver, II…

July 6, 2017 By Bob Coleman Editor, Movers and Shakers Movers and Shakers Thursday — Harvest SBF Appoints Ralph Abbott Senior Vice President “We are extremely happy to have Ralph Abbott join Harvest and provide his noted expertise in commercial real estate finance. Ralph was with us at Lehman SBF and had great success,”toasts Todd…

June 30, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — Community Bank CEO Gets 5 Years in Jail for Concealing $3.4 Million Bad Loan “Today, a federal court sentenced to prison a bank president along with the bank’s vice president, who were investigated and arrested by SIGTARP,” says Special Inspector General Christy Goldsmith…

June 30, 2017 Coleman News Flash — USDA B&I Lending Funding Restored by House Appropriations Subcommittee for FY18 By Bob Coleman Editor, Coleman Report Wednesday, the House Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration and Related Agencies restored funding for the USDA B&I Guaranteed Loan Program for Fiscal Year 2018. Originally zeroed…