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While the pace of bank regulatory changes has diminished from a few years ago, several issues will either become effective or likely develop in 2023. Communitybanks must continue to stay focused on regulatory discussions and remain nimble to respond to proposals and address requirements quickly and accurately. Source: FDIC.
This is particularly true for communitybanks preparing to undergo their next regulatory safety and soundness or compliance examination. Regulators and industry consultants agree that communitybanks are generally doing a great job handling their regulatory oversight and requirements.
Cadence Bank in Tupelo, Mississippi, has agreed to buy FCB Financial in Savannah, Georgia. Also, the FDIC approved a proposed merger of West Virginia, Ohio banks. The post Cadence to buy FCB Financial in Georgia appeared first on ABA Banking Journal.
Regardless of the name, nonbank technology firms are wedging themselves between communitybanks and their customers by offering a slew of traditional and nontraditional banking products. This is why ICBA and communitybanks must continue to push consistent regulation of bank and nonbank financial service providers.
It was a prescient move for Hartings and the $450 million-asset communitybank, which comfortably weathered the downturn even though residential mortgages are its biggest business line—but not everyone appreciated Hartings’ common-sense approach at the time. Large CommunityBank Council, member. Membership-Marketing.
Illustration by Jozefmicic/Adobe The CFPB recently issued new guidance on overdraft fees that was unanticipated by communitybanks. Learn what this means for the industry and how communitybanks can stay in compliance. How the circular will affect communitybanks is not entirely clear.
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