No new banks have opened in Pennsylvania since 2013, as big national banks and fintech lenders have gained market share. Community bankers, led by Hyperion Bank CEO Charles Crawford, are hoping for a revival under President-elect Donald Trump's deregulation policies.
No new banks have been started in the Pennsylvania since 2013. A community bankers advocacy group hopes that changes under President Donald Trump.
“Optimism around deregulation under Trump 2.0 is a significantly positive factor” in attracting bank investors, as reflected in recovering share prices for existing banks, Christopher McGratty and his bank-analyst team at Keefe, Bruyette & Woods wrote in a report to clients Dec. 16. There are a lot of big national banks with branches in Philadelphia. A lot of people want to do business just by apps, by tapping their card. But a lot of people still want someone they can meet with.
BANKING DEREGULATION COMMUNITY BANKS PENNSYLVANIA FINTECH
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