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7/10/17 - Gene Ludwig on Updating the CRA

Gene Ludwig, Promontory’s chief executive officer, was quoted in American Banker about the administration’s effort to make changes to the Community Reinvestment Act. Ludwig said that mobile banking replacing brick-and-mortar branches is bringing this issue to light.

“We’re living through a time of profound change technologically,” Ludwig said. “We may see half the number of branches in the next five years. We’re certainly going to see more online digital banking.”

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