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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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.
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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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
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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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.
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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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
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.
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.
CFPB Monitor
FEBRUARY 28, 2024
The FTC published guidance warning companies that “[i]t may be unfair or deceptive for a company to adopt more permissive data practices—for example, to start sharing consumers’ data with third parties or using that data for artificial intelligence (AI) training—and only inform consumers of this change through a surreptitious, retroactive amendment to its terms of service or privacy policy.” .
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.
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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
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.
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.
CFPB Monitor
FEBRUARY 27, 2024
The U.S. Department of Housing and Urban Development (HUD) recently announced a Payment Supplement loss mitigation program for Federal Housing Administration (FHA) insured Title 2 mortgage loans, the details of which are set forth in Mortgagee Letter 2024-02. Mortgage servicers may begin implementing the Payment Supplement on May 1, 2024, but must implement the solution for all eligible borrowers by January 1, 2025.
Jack Henry
FEBRUARY 26, 2024
In the race to adapt and thrive in today's disruptive financial services landscape, the speed and direction of your technology modernization strategy and efforts can make all the difference.
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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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