Independent Banker
JANUARY 31, 2022
Ken Finley, president of Johnson City Bank, in downtown Johnson City with Shannon Sultemeier, executive vice president (left); and Brenda Haynes, vice president/cashier (right). Photo by Dennis Burnett. With the record growth of San Antonio, Houston and Austin, southern Texas is becoming a hub for business. Here’s how four community banks are thriving in this environment.
BankBazaar
FEBRUARY 3, 2022
Is your Credit Score good enough to get a loan at competitive rates? Find out. There’s nothing like a good Credit Score to talk you up to a potential lender. A good Credit Score gives a prospective lender confidence in your ability to repay a loan or hold a Credit Card responsibly by proving your creditworthiness. Your Credit Score is a three-digit numerical denotation, ranging anywhere between 300 and 900, which is computed based on a detailed analysis of your credit repayment history, total nu
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Accenture
FEBRUARY 2, 2022
There’s more data available to banks than ever before. So why aren’t they using it to drive growth? Most commercial banks know that making better use of their data would have a significant impact on their business. As I discussed in my first post in this series, data can be used to improve a bank’s…. The post What’s threatening data-driven growth for banks?
Perficient
JANUARY 31, 2022
We shouldn’t be that surprised. A couple of weeks ago, Crypto.com, one of the fastest-growing cryptocurrency platforms, was hacked on January 17, 2022. One area mentioned by the company as an issue was a gap in its multi-factor authentication (MFA) system. A statement issued by Crypto.com on January 20th said, “transactions were being approved without the 2FA authentication control being inputted by the user,” and the company allowed the transactions to go through without the users providing the
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
Independent Banker
JANUARY 31, 2022
Southern Bancorp partners with other community banks to increase loan accessibility and financial literacy to low-income customers. Photo by Dero Sanford. As CEO of Southern Bancorp, Darrin Williams wants to promote relationships between community banks and CDFIs to create more prosperous communities. By Judith Sears. Name: Southern Bancorp. Assets: $2 billion.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
CFPB Monitor
FEBRUARY 2, 2022
The U.S. Court of Appeals for the Fourth Circuit recently ruled that a mortgage servicer violated the Maryland Consumer Debt Collection Act (MCDCA) by charging a $5 convenience fee to borrowers for monthly payments made by phone or online. In Alexander v. Carrington Mortgage Services, LLC , the plaintiffs filed a class action complaint against Carrington, their mortgage servicer, challenging the convenience fees in which they alleged that the servicer had violated Section 14-202(11) of the MCDCA
BankBazaar
FEBRUARY 2, 2022
Description: While a Credit Card is a wonderful tool for enhanced liquidity, irresponsible usage can wreak long-term damage. Here’s how to keep your card usage in check to maximise the benefits of owning a Credit Card. A Credit Card is a wonderful tool to get some extra liquidity. It gives you precious extra cash cover. Most importantly, it allows you to borrow money with an interest-free period.
Independent Banker
JANUARY 31, 2022
Photo by Pogonici/iStock. With consumer expectations seeming to evolve faster every year, community banks could consider partnering with a fintech to keep up with technological innovation. By Elizabeth Judd. Quick Stat. 71%. of bankers are either strongly interested in or already working with fintechs in digital account opening. Source: Cornerstone Advisors.
SWBC's LenderHub
JANUARY 31, 2022
Last Week. What do you get when you cram a historic FOMC meeting, a geopolitical crisis, and a global pandemic into one week? A bloody mess, that’s what!
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Treasury teams at community banks face an ongoing challenge of delivering frictionless customer experiences as they support treasury products – especially RDC. This infographic focuses on the efficiencies community banks gain when partnering with a proven managed services provider. You’ll see the advantages you can gain when a managed services partner leverages online tools, skilled customer and technical support personnel, and fulfillment and logistics capabilities to streamline RDC fulfillment
CFPB Monitor
FEBRUARY 3, 2022
The U.S. Court of Appeals for the Third Circuit recently ruled that the application of Pennsylvania usury laws to vehicle-secured loans made to Pennsylvania residents who travel outside of Pennsylvania to obtain such loans does not violate the Commerce Clause of the U.S. Constitution. The decision could have significant implications for all providers of consumer credit whose operations involve cross-border lending.
BankUnderground
FEBRUARY 1, 2022
Marco Pinchetti and Andrzej Szczepaniak. It is certainly not a mystery that the Fed’s monetary policy is of great importance for financial markets and the global economy. However, in a recently published Staff Working Paper , we show that the Fed’s monetary policy measures are not the only valuable piece of information contained in the Fed’s announcements.
Independent Banker
JANUARY 31, 2022
Photo by Robert Severi. It’s hard to put my finger on exactly what makes ICBA LIVE so special, but I believe it is in a shared sense of purpose that arises whenever community bankers convene. It has been two years since we last came together in person at ICBA LIVE, and I cannot wait for this year’s convention. While virtual events have provided connection, learning and development, there’s something so special about assembling with our communities, where the energy is palpable and we are inspire
ATM Marketplace
FEBRUARY 1, 2022
It seems like Bitcoin ATMs exploded overnight. While previously only concentrated in big cities, now I see them everywhere in places ranging from gas stations to used games stores. These Bitcoin ATMs are no mere fad; in fact, they will be an enduring trend for some time for a few reasons.
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Amid market uncertainty, banks and credit unions are faced with critical decisions about the future of their commercial lending. With fluctuating interest rates and rising competition from non-bank lenders, it's critical to allocate your 2025 budget strategically to optimize lending operations. Our Budget Playbook for Commercial Lenders delivers key strategies to help you navigate these challenges, ensuring your institution is well-positioned for the coming year.
Gonzobanker
FEBRUARY 3, 2022
An opportunity exists for banks to reach business customers with real solutions that solve real business problems. “Always borrow money from a pessimist. He won’t expect it back.” – Oscar Wilde. Gonzonians, as we head into a fairly uncertain 2022, one thing we can be sure of is that real-time payments (RTP) will be a major topic and strategic focus.
BankUnderground
FEBRUARY 3, 2022
Alongside our multi-year ‘Bank of England Agenda for Research’, the Bank also publishes a set of ‘Priority Topics’, which change each calendar year. The new 2022 Priority Topics are now available on the Bank’s website (see ‘2022 Priority Topics’ under each theme). Rebecca Freeman, Managing Editor.
Independent Banker
JANUARY 31, 2022
Despite the large number of PPP loans distributed to small businesses, funding didn’t always reach those who needed it the most. These community banks are working to fix that through microlending programs. By Beth Mattson-Teig. One of the harsh realities revealed by the flood of Paycheck Protection Program (PPP) money distributed in 2020 and 2021 is that many businesses and entrepreneurs in need of small-balance loans fell through the cracks.
TheGuardian
JANUARY 31, 2022
Multimillionaire politician and family to forfeit funds arising ‘from criminal conduct and money laundering’ A multimillionaire Azerbaijani politician and his family have been ordered to hand over £5.6m of suspect funds brought into the UK via a complex money-laundering scheme nicknamed the “Azerbaijani laundromat”. A judge on Monday ordered that Javanshir Feyziyev and his family forfeit £5.63m held in various bank accounts after ruling the funds “arise from criminal conduct” and “money launderi
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Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w
BankInovation
FEBRUARY 3, 2022
Deploying funny-sounding strategies like “sandwich trading,” bots have conquered much of the market for Ethereum-based digital tokens, scooping up hundreds of millions — if not billions — of dollars in trading profits over the years. Along the way, they’ve made enemies by front-running others’ transactions, something blockchain-fueled trading fundamentally permits.
CB Insights
FEBRUARY 1, 2022
Global blockchain deals and dollars shattered records in 2021. Funding grew 713% year-over-year as investors poured money into crypto and NFT startups. In our State Of Blockchain 2021 Report, we dig into global investment trends to spotlight takeaways like: What drove the biggest year in blockchain funding yet — and what’s on the horizon. The record unicorn count, unicorn birth trends, and the highest-valued startups to close out the year.
Independent Banker
JANUARY 31, 2022
ICBA has a growing network of people and resources community banks can tap into as they continue their innovation journeys. The ThinkTECH Accelerator is one of several initiatives underway this year to foster community bank-enabled fintech partnerships. By Charles Potts, ICBA. The collaborative process is critically important to what we do at ICBA and to the future of community banking.
TheGuardian
JANUARY 31, 2022
Stacey Macken sued BNP Paribas after years of unequal pay and belittlement by male colleagues A City banker who had a witch’s hat left on her desk by drunken male colleagues has won more than £2m in compensation for sexual discrimination. Stacey Macken, 50, sued French bank BNP Paribas after being belittled by her boss who kept telling her “not now, Stacey” – a phrase he used so often that colleagues even copied it.
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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.
BankInovation
FEBRUARY 4, 2022
In this Weekly Wrap episode of “The Buzz” podcast, the Bank Automation News team looks at a new type of ransomware attack on a U.S. bank, along with an FBI warning cautioning consumers on quick response (QR) code payments. White Rabbit, a new family of ransomware, attacked a U.S. bank in December 2021. While details […].
BankBazaar
FEBRUARY 2, 2022
Just tuning in? Catch up on all the highlights of Budget 2022. Finance Minister Nirmala Sitharaman announced the Union Budget 2022 today, on February 1. . Let’s take a look at the major highlights of Union Budget 2022: Healthcare . The outbreak of the COVID?19 has brought the issue of mental health to the fore. A national tele mental health programme is to be launched. .
Independent Banker
FEBRUARY 1, 2022
The banking industry remains in flux. 2021 introduced new challenges for traditional banks, from the added competition of digital-only entrants to shifting consumer banking behaviors and lingering fallout from the ongoing COVID-19 pandemic. However, there was one steadfast constant: the increased demand for digital banking experiences and rising digital expectations from consumers and businesses alike.
CFPB Monitor
JANUARY 31, 2022
Recently, the CFPB issued a “ Request for Information Regarding Fees Imposed by Providers of Consumer Financial Products or Services.” Comments on the RFI must be submitted by March 31, 2022. On February 17, 2022, from 2:30 p.m. to 3:30 p.m. ET, Ballard Spahr will hold a webinar, “The CFPB’s Inquiry into “Junk Fees”: What It Means for Consumer Financial Services Providers.
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Community banks seek ways to leverage their technology infrastructure to drive productivity and growth. However, the sheer volume of technology devices, capital constraints, and lack of skilled resources stand in the way. This Strategy Brief explores how a managed device services partner can help bridge this resource gap. Managed device services partners empower community banks to take charge of mission-critical device management activities with: Logistics and installation services to support se
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