Displaying items by tag: banking

A few weeks ago, the Associated Press and a nonprofit journalism outfit called The Markup released a dataset and news stories purporting to prove the existence of pervasive discrimination against racial minorities by mortgage lenders. The McClatchy newspapers in North Carolina (The Charlotte Observer, The News & Observer in Raleigh, and the Herald-Sun in Durham) splashed the Markup/AP findings across their front pages and contributed additional reporting about the North Carolina-specific data.

The Biden administration is seeking to compel banks to report to the IRS any bank account with more than $600 in transactions per year. This proposal is a linchpin of Biden’s American Families Plan, and will supposedly help generate almost $500 billion in federal revenue over the next decade. But previous catch-all financial reporting requirements have helped spur national disasters, complete with pervasive federal looting.

In May, the Treasury Department released the Biden administration’s revenue proposals for fiscal year 2022. One aspect of this document that has gone under-reported is the administration's new plan for reporting requirements for financial institutions.

CHARLESTON, S.C. — Since joining REV in 2019, president and CEO Jason Lee has propelled the organization to new heights. Transitioning to a new name, strategic vision, and mission, under Lee’s leadership, REV has once again achieved another milestone. The credit union received merger approval from the National Credit Union Administration and members of North Carolina based Riegelwood Federal Credit Union and Hamlet Federal Credit Union, making REV a multi-state financial institution.

PEMBROKE — Larry Chavis’ career in the banking industry spans nearly five decades.

He has spent the majority of his 47-year career steering the success of Lumbee Guaranty Bank as president and CEO. A trailblazer and prominent member of the banking community, Chavis is highly regarded across the region and state.