Rhinebeck Bank settles with NY over auto loans; payments vs. SAFE act

The New York State Department of Financial Services found that Rhinebeck Bank 's policies led to minority borrowers paying more for auto loans. Though it did not find evidence of intentional discrimination, the bank agreed to pay a $950,000 fine and restitution: Rhinebeck Bank reaches auto-lending settlement with New York regulators. Read more recent coverage about Superintendent Adrienne Harris, from September: New York regulator warns banks not to sacrifice equity in climate fight.

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Here's some more of what we're covering today:

Not waiting for SAFE: A payment firm's plan for growth: Aeropay is partnering with other cannabis fintechs to build a full-featured compliant commerce offering while the federal SAFE Banking Act awaits passage.

Banks find that getting diverse small-business customers is harder than it looks: At American Banker's Small Biz Banking conference, bankers said they are throwing community events, working with local nonprofits and trying to turn lending decisions from "no" to "yes."

Bank of America to pay $1.84B to settle crisis-era Countrywide case: The settlement with an insurer over Countrywide's mortgage-backed securities closes another chapter on what quickly proved to be an ill-advised acquisition for 美国银行 . A trial on the case had kicked off last month.

CEO of Truity Credit Union in Oklahoma to retire: Dennis Halpin will conclude his 18-year tenure with the credit union effective January of next year.