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Last week, the CFPB announced the appointment of new members to its advisory committees: Consumer Advisory Board (CAB), CommunityBank Advisory Council (CBAC), Credit Union Advisory Council (CUAC), and Academic Research Council (ARC). Jean Setzfand, Senior Vice President, AARP (Washington, DC). Bank (Minneapolis, MN).
According to a 2012 Boston College Center for Retirement Research study , 63% of American males (why only males I do not know) participated exclusively in defined contribution (DC) retirement plans in 2007, up from 47% in 1992. Could this need for personal financial management prove to be a viable niche for community financial institutions?
Especially if I believe communitybanks must increasingly be known for some niche to differentiate. I first became aware of Marlin at the Utah Bankers Association Executive Development Program, where a Marlin Business Bank officer was attending. The branchless communitybank operates in the Wilmington-Philadelphia market.
At a recent banking conference, Ray Davis of Umpqua Bank took center stage to tell of his journey from a small, Oregon communitybank to a regional powerhouse. And product was not part of the bank's success. He mentioned products only briefly. I thought, Why? Wouldn't we all benefit from more simplicity?
I also believe that branches can be developed as competitive advantages for community financial institutions. And when my friend and fellow bank consultant Mary Beth Sullivan from Capital Performance Group in DC shared the post in the below pic on LinkedIn, it stirred a spirited rebuttal. They are under 21 years old !
Fiscal Policy We are not seeing activity from Washington DC. DJ 10/17/17 Dorothy Jaworski has worked at large and small banks for over 30 years; much of that time has been spent in investment portfolio management, risk management, and financial analysis. He believes we will remain in this situation for the foreseeable future.
Executives at several minority-owned communitybanks nationwide, including OneUnited Bank in Boston and Carver Federal Savings Bank in New York, say they have received a windfall of deposits in recent weeks, coinciding with the introduction of the Black Money Matters Project.
United Bankshares in West Virginia has quietly become a $14 billion-asset player in its region thanks to the M&A strategy of its highly respected leader, Richard Adams, who has a way of establishing a rapport with communitybank chiefs. One recent seller is a repeat customer.
Last week 5,000 credit union leaders gathered in Washington DC for CUNA’s annual Government Affairs Conference (GAC). Given the heightening battle of legislative tug of war between banks and credit unions, that’s a reasonable use of time. As its name implies, the GAC is heavy on congressional interaction and industry advocacy.
Community bankers say that reclassifying "reciprocal deposits" as a less risky type of deposit will help them to compete with large banks. Some deposit brokers are crying foul, arguing that the proposed legislation would put them at a competitive disadvantage.
Lenders grew more optimistic that Congress will undo or narrow the loan-loss accounting standard after members of a House subcommittee assailed Russell Golden for approving the rule without studying its impact on credit availability.
Some providers of deposit-placement services to banks are crying foul over a proposal they say would give the market's dominant player, Promontory Interfinancial Network, an even bigger competitive edge.
Delinquencies on non-owner-occupied commercial real estate loans ticked up in the first quarter after years of steady declines. Some are shrugging off the increase, saying it was expected given the strong demand for CRE loans, but others say there's good reason to be concerned.
THE BANKING AWARDS. Rainbolt has quietly built a communitybank in the past 20 years that is closing in on $2 billion of market cap. GonzoBanker of the Year – Large Banks. 16 passing of Robert Wilmers, chairman and chief executive officer of M&T Bank Corp. When labor markets tighten, we turn to immigration.
It operates two labs, one in Washington DC and the other in New York City, which focus on ventures that can have a significant business impact in the short term (from six months to three years). Intended to mimic the approach of a startup, it aims to find ways to disrupt communitybanking.
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