American Banker
FEBRUARY 24, 2024
Surprise overdraft fees and charges incurred by consumers who cash bad checks likely violate the law, state Attorney General Rob Bonta said. His message was especially notable because it was aimed at smaller institutions that have gotten less scrutiny from Washington.
The Financial Brand
FEBRUARY 28, 2024
This article Unlocking Growth: How Consolidated Analytics Can Empower Community Banks appeared first on The Financial Brand. Former community bank CFO Kim Snyder shares how consolidated analytics can help small institutions transform fragmented data into strategic assets. This article Unlocking Growth: How Consolidated Analytics Can Empower Community Banks appeared first on The Financial Brand.
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TheGuardian
FEBRUARY 29, 2024
Chief executive of embattled bank steps down after company reports ‘material weaknesses’ in internal controls New York Community Bancorp (NYCB) came under fresh pressure on Wall Street after reporting “material weaknesses” in its internal controls, booking a $2.4bn hit to earnings and replacing its chief executive. Shares in the bank tumbled 19% in after-hours trading on Thursday, extending its extraordinary rout on the stock market.
American Banker
FEBRUARY 26, 2024
The $6.8 billion-asset institution partnered with FusionIQ to launch digitally advised and self-directed investment platforms as part of a push to attract and retain younger generations of consumers.
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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
CFPB Monitor
FEBRUARY 27, 2024
On February 22, 2024, California Attorney General Rob Bonta issued letters (the “AG Letter”) to California’s 197 state-chartered banks and credit unions warning that overdraft and returned deposited item fees may violate California’s Unfair Competition Law (UCL) and the federal Consumer Financial Protection Act (CFPA). The AG Letter encourages the institutions to review their practices and policies regarding: “(1) surprise overdraft fees, which are assessed even when a consumer cannot reasonably
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankInovation
FEBRUARY 28, 2024
LONDON — Will embedded finance technology usher in a new era of banking, or is the impact of the technology overblown? Bank executives from ClearBank, Deutsche Bank and Raiffeisen Digital Bank weighed in at FinovateEurope this week. ClearBank Head of Embedded Banking Paul Staples at $3.
Perficient
FEBRUARY 28, 2024
Adobe Summit 2024 is right around the corner, and we’re excited to sit down with the executive director of marketing applications at Morgan Stanley Dorothy Joseph on March 27 at 11:30 A.M PST at The Grand Lux Café in The Palazzo. Perficient’s Jay Jackson, director of Adobe Digital Marketing and CDP, will host a fireside chat with Joseph about the global financial services leader’s successful journey to consolidate and optimize the Adobe Experience Platform.
South State Correspondent
FEBRUARY 27, 2024
Community bankers need to practice realistic loan pricing discipline. However, we need to understand the meaning of pricing discipline and its effect on community bank performance. In this article, we would like to define loan pricing discipline and cover bid, why it matters, and demonstrate how most community banks currently are not using loan pricing discipline.
South State Correspondent
FEBRUARY 29, 2024
Since our last update on pricing and credit HERE , commercial loan pricing trends for the first quarter of 2024 continue to be driven by the perceived increase in credit risk, tighter credit supply and banks’ need for wider margins. This article provides an update on pricing trends driven by our Loan Command aggregated community bank data and highlights some commercial loan insights that can improve bank performance.
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Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.
Payments Dive
FEBRUARY 28, 2024
The merger at least raises the possibility that there won’t be two card networks that dominate the future of tokenized transactions, writes one fintech lawyer.
Perficient
FEBRUARY 28, 2024
With new risks, shifting market dynamics, and the unstoppable march of technology, the insurance industry finds itself at a crossroads. The imperative for transformation has never been clearer, and this is highlighted in Forrester’s report, The Future Of Insurance. Embracing Change The report states, “The business of insurance is in a heightened state of transformation…,” and insurance leaders must proactively “…change their business models, products, and processes over the com
CFPB Monitor
FEBRUARY 27, 2024
The U.S. Department of Veterans Affairs (VA) recently issued Circular 26-23-10, Change 1 , Circular 26-24-5 and an Exhibit to address fees that may be imposed in connection with the assumption of a VA-guaranteed home loan. The VA advises in the Circulars that the holder or servicer of a VA-guaranteed home loan with automatic authority may charge an assumption processing fee not to exceed $300.
BankInovation
FEBRUARY 26, 2024
BNY Mellon has appointed Julie Gerdeman as its global head of data and analytics. Gerdeman will be responsible for managing software and data for nearly $47 trillion of assets managed by BNY, according to a Feb. 20 release.
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Automation is changing the game for commercial lenders, offering a clear path to competitive advantage in 2025. Rising costs, outdated workflows, and manual data entry slow growth and impact borrower satisfaction. Automation addresses these challenges, reducing costs, speeding up loan cycles, improving accuracy, and elevating borrower experiences. With market uncertainty easing, now is the time to act—waiting until loan volumes rebound leaves lenders unprepared and struggling to compete.
Payments Dive
FEBRUARY 26, 2024
The process can make for faster, easier experiences, but it needs regular attention and helpful associates to thrive, consultants said.
Perficient
FEBRUARY 29, 2024
This blog was co-authored by Perficient’s Chief Strategist and banking expert: Scott Albahary A slowing global economy, coupled with a divergent economic landscape, poses challenges for the banking industry in 2024. Driven by technological advancements, regulatory changes, and shifting consumer preferences, the banking industry must evolve and respond accordingly.
CFPB Monitor
FEBRUARY 29, 2024
Our special guest is Brad Blower, Principal and Founder of Inclusive-Partners LLC, and author of a recent blog post titled “The CFPB Has An Opportunity to Greatly Advance the Ethical and Non-Discriminatory Use of AI in Financial Services and Should Take It.” We first discuss the lack of clear guidance from the CFPB on the non-discriminatory use of AI and the possible reasons for the CFPB’s apparent reticence to provide more specific guidance. .
BankInovation
FEBRUARY 26, 2024
Terrence Thomas, executive vice president and chief information officer at First Bank, will speak at Bank Automation Summit U.S. 2024 on Monday, March 18, at 4 p.m. CT.
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Remote Deposit Capture (RDC) clients are more likely to use additional treasury services and maintain larger deposits. However, poor customer experiences—particularly if they delay deposits—can compel RDC clients to take their business elsewhere. This eBook makes the case for outsourcing RDC operations to a proven managed services partner. This approach helps Treasury Departments with limited resources provide excellent client experiences that result in higher retention and productivity rates.
Payments Dive
FEBRUARY 27, 2024
Can the dollar’s reign as the world’s reserve currency persist? This Fed official makes a strong case, but digital doubts may remain.
Perficient
FEBRUARY 27, 2024
This blog was co-authored by Perficient’s Insurance Principal and expert: Brian Bell As we step into 2024, the insurance industry faces significant transformations driven by technological advancements and evolving customer expectations. Let’s explore the key trends reshaping the insurance landscape and how they are set to redefine the industry’s future.
TheGuardian
FEBRUARY 26, 2024
City grandee co-founded a number of firms and was also involved in the arts and philanthropy Lord Jacob Rothschild, the financier and scion of the Rothschild banking family, has died aged 87. The City grandee started his career at the family bank NM Rothschild & Sons in 1963 before co-founding a number of firms including J Rothschild Assurance Group, now St James’s Place, with Sir Mark Weinberg in 1980.
American Banker
FEBRUARY 27, 2024
American Banker's Most Influential Women in Payments share their views on artificial intelligence, hybrid offices, real-time payments and more.
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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.
Payments Dive
MARCH 1, 2024
Beyond expansion to the U.K., the BNPL provider may seek to plant a flag where its large partners such as Amazon and Shopify have a presence, said Affirm’s Chief Revenue Officer Wayne Pommen.
ATM Marketplace
FEBRUARY 28, 2024
Nominations are officially open for the 2024 Bank Customer Experience Awards, which will be presented at the jointly held Bank Customer Experience Summit and Interactive Customer Experience Summit from Sept. 9 to 11 in Charlotte, North Carolina.
TheGuardian
MARCH 1, 2024
Thief went on £9,000 spree with the victim’s money before using her Uber account to travel to Stansted If you are one of those people who keeps their debit card in their mobile phone case, has a note of their pin on their handset, or only ever uses mobile banking, you may want to rethink your setup after you read the case of Sami Souret*. On a recent night out the 28-year-old healthcare professional was kind enough to help a man who asked to borrow her phone.
American Banker
FEBRUARY 28, 2024
Large global banks are experimenting with tokenization to make complex transactions faster, efficient and more auditable.
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