Jack Henry
OCTOBER 25, 2023
To gather deposits & remain competitive, invest in digital enhancements. Click to read tips to combine deposit, digital, & payment strategies serving GenZ.
Gonzobanker
OCTOBER 26, 2023
Trading terms for cost in contract negotiations can be a win-win for bankers – if they’re smart about it. In the spirit of Halloween, here’s a hypothetical question: You have a 5-year CD at a bank with two years left on its term. Your rate is below current rates. The bank offers you the option to renew for five years today at a rate higher than what you’re earning now but lower than the bank’s current new money rate.
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South State Correspondent
OCTOBER 23, 2023
Good commercial lenders use commitment letters and proposal letters to their advantage. A proposal letter (or letter of intent) expresses interest from the lender before credit approval is obtained. A commitment letter evidences the lender’s commitment to lend. It is only furnished after preliminary credit approval and typically contains the following language: lender commits to provide the loan on, and subject to, the terms and satisfaction of conditions set forth herein.
CFPB Monitor
OCTOBER 26, 2023
On October 3, 2023, the U.S. Supreme Court heard oral argument in CFSA v. CFPB , a case with profound potential implications for the future of the CFPB. The Court will rule on whether the CFPB’s funding mechanism violates the U.S. Constitution’s Appropriations Clause and, if so, what the appropriate remedy should be. .
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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.
TheGuardian
OCTOBER 25, 2023
In the week that nearly 4 million Britons were reported to live in destitution, policymakers axed the cap on City pay. How’s that for a healthy society? Rejoice! At last the British establishment has identified a 100% cast-iron Brexit bonus. This week, financial watchdogs agreed there need be no more limits on the bonuses paid to City bankers. The Bank of England found that “a bonus cap is not routinely imposed in other leading international financial centres outside the EU”.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
South State Correspondent
OCTOBER 25, 2023
Halloween is approaching, so we might as well talk about death. Checks are dying and about to die quicker, given the rise of instant payments. In the next two years, many banks will have strategic plans to phase checks out, given their cost and reduction in frequency. Checks are getting to the point where they are too costly to process for the bank, business, and household.
BankInovation
OCTOBER 26, 2023
Neobanks can lean on data and rich client information to protect themselves from fraud attacks. Almost all neobank activity is accomplished through mobile devices, which makes digital institutions targets for fraudsters, Matt DeLauro, chief revenue officer at fraud prevention and anti-money laundering platform Seon, tells Bank Automation News on this episode of “The Buzz” podcast.
American Banker
OCTOBER 25, 2023
Banks and dissenting policymakers have raised the possibility of challenging regulators' Community Reinvestment Act overhaul in court, but it remains unclear whether they intend to walk the walk.
American Banker
OCTOBER 25, 2023
The fintech Greenlight Financial has formed a CUSO to expand access to its family banking app and educational resources after strong interest from credit unions.
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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
OCTOBER 23, 2023
In the interest of faster, cheaper and more transparent cross-border payments, the Bank of International Settlements last week produced an interim report aimed at developing a governance structure for an interlinked faster payments system.
South State Correspondent
OCTOBER 26, 2023
Money 20/20 (M2020) is the only conference in the industry where it is both possible and expected to pull off two breakfasts, two lunches, three cocktail parties, and two dinners PER DAY. It’s a whirlwind of education, deal-making, eating, and hugging. In this article, we detail our thoughts and the trends we saw last week in Las Vegas from a banking perspective in hopes of giving you the flavor and insight from the conference without you having to walk 10 miles per day and listen to endle
CFPB Monitor
OCTOBER 23, 2023
On October 19, 2023, the Consumer Financial Protection Board (“CFPB”) released a proposed rule that, if enacted, would grant consumers greater access rights to the data their financial institutions hold. Under the proposed Personal Financial Data Rights Rule (the “Proposed Rule”), bank customers nationwide would have privacy rights similar to what is afforded under the dozen state privacy laws that have been enacted in recent years. .
TheGuardian
OCTOBER 26, 2023
Investigation for bank finds ‘serious failings’ in handling of Coutts move and treatment of ex-Ukip leader Business live – latest updates NatWest’s decision to close Nigel Farage’s bank accounts was lawful but there were “serious failings” in how it treated the former Ukip leader, an independent review commissioned by the bank has found. Lawyers hired by NatWest Group said the lender had acted “in accordance with the relevant bank policies and processes” when it decided to shut the accounts Fara
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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
OCTOBER 23, 2023
That’s the maximum amount of money the card network estimates may yet result from claims brought against it years ago by merchants who argue they were overcharged for card transaction processing.
South State Correspondent
OCTOBER 25, 2023
After Brief Rally, Treasury Yields Head Higher Again Treasury yields are moving higher once again this morning as the Treasury’s expected announcement next week of increased auction sizes is starting to weigh on markets, and the lates PMI and new home sales offer little indication of a slowing fourth quarter economy. Presently, the 10yr is yielding 4.91%, down 20/32nds in price while the 2yr is yielding 5.09%, down 1/32nd in price.
CFPB Monitor
OCTOBER 24, 2023
The Department of Justice (DOJ) announced a settlement agreement with Washington Trust Company, of Westerly (WTC) to resolve claims that WTC redlined majority Black and Hispanic neighborhoods in Rhode Island. In its complaint against WTC, DOJ alleged that the following practices were used to discriminate against Black and Hispanic borrowers from 2016 to at least 2021: WTC located and maintained all of its Rhode Island branches and loan officers outside of majority-Black and Hispanic neighborhood
TheGuardian
OCTOBER 24, 2023
Bonus cap to end on 31 October, a move condemned by unions as an ‘insult to working people’ The UK’s financial regulators have formally scrapped the banker bonus cap, removing one of the key reforms introduced by the EU in the wake of the 2008 financial crisis. The Bank of England and Financial Conduct Authority (FCA) confirmed that the cap would disappear on 31 October, nearly a year after Liz Truss’s short-lived government first revealed plans to ditch the rules in a bid to attract more invest
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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
OCTOBER 27, 2023
The purchase continues a spate of payments industry acquisitions this month, and will let the fleet management services company cross-sell more software.
William Mills
OCTOBER 23, 2023
In a world seemingly dominated by commercial banks and other financial behemoths, credit unions stand as a unique and enduring pillar of financial stability and community empowerment. This year marks the 75 th anniversary of International Credit Union Day , recognizing the history of the credit union movement and reflecting on its achievements and the shared member experience.
CFPB Monitor
OCTOBER 27, 2023
Recently the U.S. Department of Justice (DOJ) entered into a proposed consent order with Ameris Bank to resolve allegations of redlining from 2016 through 2021 in majority Black and Hispanic areas in the Bank’s Jacksonville, Florida assessment area under both the Equal Credit Opportunity Act (ECOA) and Fair Housing Act. In conjunction with the announcement of the proposed consent order, Attorney General Merrick Garland provided an update on the DOJ’s Combating Redlining Initiative that was launc
ATM Marketplace
OCTOBER 24, 2023
This one-hour webinar invites global ATM industry stakeholders to reflect on key 2023 trends with market experts. It is based on the 16th edition of the top-rated ATM & Self-service Software Trends Report (an annual guide created by ATM Marketplace and KAL ATM Software).
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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
OCTOBER 24, 2023
A pair of House bills would help the industry gain clarity, scale digital asset products and promote financial inclusion, cryptocurrency stakeholders said Sunday on a panel at Money20/20.
TheGuardian
OCTOBER 27, 2023
Two-point rate rise surprises analysts as central bank blames 6.6% inflation on consumer demand Business live – latest updates Russia’s central bank has increased interest rates by more than expected to 15% after the war-torn economy suffered a steep rise in inflation. The economy’s limited capacity to respond to an increase consumer demand was blamed by the bank for the rise in inflation to 6.6% in October from 6% in the previous month.
CFPB Monitor
OCTOBER 24, 2023
The Federal Financial Institutions Examination Council’s Appraisal Subcommittee (ASC) is scheduled to host a public hearing on Wednesday, November 1, 2023. The upcoming hearing on appraisal bias will focus on how residential appraisals are developed and reviewed, the process for reconsiderations of value, and processes for conducting appraisals in rural areas.
Commercial Lending USA
OCTOBER 27, 2023
Bridge lending is a crucial financial instrument that helps in the execution of real estate deals and business projects. It functions as a transitional financial bridge, closing the gap between an immediate need for money and the more permanent financing that may be forthcoming.
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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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