Money Talk: FDIC begins small business lending survey

by Talk Business & Politics staff ([email protected]) 76 views 

Editor’s note: Each Monday, Talk Business & Politics provides “Money Talk,” a wrap-up of banking and financial news.

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FDIC BEGINS SMALL BUSINESS LENDING SURVEY
The Federal Deposit Insurance Corporation (FDIC) recently initiated a survey of banks regarding their small business lending practices. The web-based survey of roughly 2,000 randomly selected FDIC-insured banks began in late June and will be administered by the U.S. Census Bureau on behalf of the FDIC.

The Small Business Lending Survey (SBLS) will collect data that provide additional insight into many aspects of small business lending, including nationally representative information on the general characteristics of banks’ small business borrowers, the types of credit offered to small businesses, and the relative importance of commercial lending for banks of different sizes and business models.

It will also look at data for banks in urban and rural communities. The survey will provide new information on banks’ market areas for small business lending and their perceived competition.

The survey will include some questions related to consumer transaction accounts that are responsive to a Congressional mandate to learn more about bank efforts to bring unbanked individuals into the conventional finance system. To learn more about the survey, click here. Results of the study are expected to be reported by the FDIC in late 2017.

SEC PROPOSES NEW RULES REQUIRING INVESTMENT ADVISERS TO ADOPT BUSINESS CONTINUITY, TRANSITION PLANS
The Securities and Exchange Commission on June 28 proposed a new rule that would require registered investment advisers to adopt and implement written business continuity and transition plans. The proposed rule is designed to ensure that investment advisers have plans in place to address operational and other risks related to a significant disruption in the adviser’s operations in order to minimize client and investor harm.

Business continuity and transition plans would assist advisers in preserving the continuity of advisory services in the event of business disruptions – whether temporary or permanent – such as a natural disaster, cyber-attack, technology failures, the departure of key personnel, and similar events, the SEC said.

The proposed rule would require an adviser’s plan to be based upon the particular risks associated with the adviser’s operations and include policies and procedures. The final proposal will be published on the SEC’s website and in the Federal Register.

IBERIABANK NAMES FORMER UA BUSINESS DEAN TO BOARD OF DIRECTORS
Lafayette, La.-based IberiaBank recently announced the addition of Rick E. Maples and former University of Arkansas Sam M. Walton College of Business Dean Eli Jones to the regional bank’s board of directors.

Jones left the University of Arkansas in 2015 and is now the Dean of the Mays Business School at his alma mater, Texas A&M University. He is the holder of the Peggy Pitman Mays Eminent Scholar Chair in Business.

Jones was Dean of the Sam M. Walton College of Business at the University of Arkansas and holder of the Sam M. Walton Leadership Chair in Business for three years. Maples retired after 31 years at Stifel, Nicolaus & Company Inc. and became a senior advisor for the St. Louis-based investment firm in January 2016.