In a comment letter dated January 19, 2019, the Community Bankers Association of Illinois (CBAI) responded to the Federal Deposit Insurance Corporation (FDIC) request for information (RFI) on small-dollar lending. CBAI highlighted challenges in this area that included: the increased costs of loan origination, underwriting, funding and administration; barriers to charging sufficient interest rates and fees; and higher loan charge-offs. CBAI stressed that the understanding and cooperation of the FDIC will be required, particularly regarding the differences in underwriting and loan features between community banks and other lenders, and the important role “character” plays in community bank lending decisions. Flexibility will be needed both on the part of the FDIC and community banks to encourage an expansion of small-dollar consumer lending. Read CBAI’s Comment Letter.
Baker Status Update
December 28, 2018
We are currently experiencing a partial outage with our phone lines due to the nationwide CenturyLink outage. We’ve been hopeful that CenturyLink would have this resolved at this time, unfortunately it appears as they are still struggling in getting their system up and operational.
We wanted to let you know that we can accept your phone calls, however, our 1-800 numbers are not currently functional. To contact anyone at The Baker Group, please call us direct. If you are unsure of a direct number, you can always call our main line at 405-415-7200. Additionally, our emails systems are fully functional as well and serves as an alternative communication method.
We are sorry for any inconvenience this may have caused you. We will communicate with you as soon as we know the CenturyLink systems are fully functional and our 1-800 numbers are back online.
The Baker Group
- Use its connectivity to provide all financial institutions with access to real-time payments;
- Provide central bank settlement (i.e., Real Time Gross Settlement or (RTGS);
- Provide a Liquidity Management Tool (LMT) to support services for real-time interbank settlement for faster payments;
- Serve as an operator for real-time payments as it does for checks, ACH, and wire transfers; and
- Operate as a payments directory that would link to financial and other private sector directories.
- increasing lending and services to people and in areas that need it most, including in LMI areas;
- clarifying and expanding the types of activities eligible for CRA consideration;
- revisiting how assessment areas are defined and used;
- establishing metric-based thresholds for CRA ratings;
- making bank CRA performance more transparent;
- improving the timeliness of regulatory decisions related to CRA; and
- reducing the cost and burden related to evaluating performance under the CRA.