American Banker

Two states are considering duplicating a program in New York that rewards banks with government deposits for opening branches in neighborhoods with little or no banking services.Lawmakers in California and Texas have introduced bills that would create "bank development districts," specially designated low-income areas that are underserved by banks...The bills are modeled after a nine-year-old New York law that offers banks select state and municipal deposits for two years, partial property tax breaks for 10 years,… more

Newborns typically are mailed birth certificates and Social Security cards within weeks of leaving the hospital. In at least two states they could soon be receiving other important documents: savings account statements.A bill being considered in the California Legislature would create savings accounts for every child born in the state after Jan. 1, 2008. Each account would be seeded with $500 in state funds, and the money could be used only for specific purposes, such as college or… more

Senators from both sides of the aisle addressed a public policy institute last week on issues that could shape banking policy. Democratic Sen. Hillary Clinton and Republican Sen. Lindsey Graham spoke to members of the New America Foundation about the need for bipartisan compromise on issues like a federal savings account and a government-run investment plan.An "American Stakeholder Account," one of the foundation's Ten Big Ideas for a New America, would start with $6,000 for every… more

Financial institutions have escaped the wrath of nonprofit environmental organizations for many years, but they'd better be careful.

Unlike their colleagues in the oil business, financiers have … more