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3 Ways Financial Institutions Can Step Up for Underserved Communities

Perficient

The financial services industry must consider its customer experience game while also grappling with a sense of distrust from many communities due to systematic barriers, maintaining utmost accessibility due to the essentiality of the business, and the lack of financial literacy across the country. Trust and Transparency. .

Community 275
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FDIC’s New Banker Engagement Site (BES): Improving CRA & Compliance Exam Communication

Perficient

This month, the Federal Deposit Insurance Corporation (FDIC) launches it new Banker Engagement Site (BES) through FDIC connect. Already reviewed by Perficient, BES provides a secure and efficient portal to exchange documents, information, and communications for consumer compliance and Community Reinvestment Act (CRA) examinations.

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The Death of the Community Bank

Jeff For Banks

In June of 2008 I gave a speech titled "The Death of the Community Bank" and in that speech I made predictions. Much like the General Store fell victim to the supermarket and the lumber yard fell victim to Home Depot, I predicted the community bank that did not pick targeted customer niches or develop product expertise will meet it's doom.

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FDIC Chair’s recent interview gives insight into FDIC’s agenda

CFPB Monitor

McWilliams stated that the FDIC’s top priorities included: (1) reducing regulatory burden on community banks; (2) increasing the speed with which the FDIC reviews charter and deposit insurance applications; and (3) assisting banks to introduce new financial products that serve underserved communities. Finally, Ms.

FDIC 68
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Environmental, Social and Governance (ESG) and Climate Risk Investing – You must be kidding me?!

Perficient

In times such as these, a company must invest in the key ingredients of profitability, people, communities, and environment.”. Social factors consider a company’s treatment of employees, diversity and inclusion practices, community relations, and involvement in socially responsible initiatives. What does it mean?

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Silicon Valley Bank Failure – Lessons in Interest Rate Risk Management

South State Correspondent

The abrupt collapse of Silicon Valley Bank (SVB) is a stunning example of bank leadership not understanding interest rate risk, running into trouble with an inverted yield curve, and ignoring the impact of a severe monetary correction on long-duration assets. Notably, most community banks’ duration risk is in the loan portfolio.

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Popular Association Banking’s Molly Hime to Retire. Carlos Hernandez Named New Division Manager.                                       

PopularBank

Under her leadership, the team has quadrupled in size and has originated more than $5 Billion in association loans as well as more than $1.6 PAB has provided banking and lending services to community associations since 1994. Billion in deposits. I leave with tremendous pride,” said Molly.