South State Correspondent
MAY 3, 2023
Last week, we published an article [ here ] discussing how fair value accounting for assets and liabilities may have prevented the failure of Silicon Valley Bank, even if sound risk mitigation practices were not resolutely embraced by management. We argued that valuing assets at historical value or measuring net interest margin (NIM) is not only a static view of cash flow but also backward-looking.
American Banker
MAY 2, 2023
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TheGuardian
MAY 2, 2023
Jamie Dimon says this phase of bank collapses is over, but ‘other cracks in the system’ could still be revealed Fresh from the rescue of First Republic, the latest US regional bank to go under, JP Morgan’s chief executive, Jamie Dimon, has been talking down the threat of contagion. He claims the domino effect that started with Silicon Valley Bank’s collapse and was quickly followed by Signature Bank, Credit Suisse, and now First Republic, is coming to an end.
Payments Dive
MAY 4, 2023
The acquisition gives Shift4 ownership of a business with ties to 10,000 restaurant merchants.
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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.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
South State Correspondent
MAY 3, 2023
Adjusting pricing for deposit tiering according to account size is essentially a tradition in banking. A typical bank’s money market accounts often have six tiers ranging from $2,000 to $100,000. The question that always comes up is whether you have suitable tiers and the correct number of tiers. Are you using your tiers to drive profit by giving low rates, or are the tiers just confusing your customer and driving-up operational cost?
Payments Dive
MAY 1, 2023
The giant retailers eagerly await instant payment system possibilities, especially as an alternative to card payments, according to industry professionals who heard their representatives speak recently.
Abrigo
MAY 1, 2023
The importance of mental health in the AML/CFT field The AML/CFT profession can take a toll on mental health due to the responsibilities given to analysts and officers. Here are signs to look for and ways to destress. You might also like this upcoming webinar, "BSA officer’s mindset: A comprehensive look at your AML/CFT program." register now Takeaway 1 The AML/CFT field can be stressful, and it's easy for staff to ignore signs that their mental health is suffering.
CFPB Monitor
MAY 4, 2023
On April 12, North Dakota Governor Doug Burgum signed into law House Bill 1068 , which creates a new statutory licensing scheme in North Dakota covering residential mortgage loan servicing activities. This follows on the heels of the enactment last month of North Dakota Senate Bill 2090 , which overhauled North Dakota’s licensing requirements related to residential mortgage lending. .
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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
South State Correspondent
MAY 2, 2023
Last week, we published an article [ here ] discussing how fair value accounting for assets and liabilities may have prevented the failure of Silicon Valley Bank, even if sound risk mitigation practices were not resolutely embraced by management. We argued that valuing assets at historical value or measuring net interest margin (NIM) is not only a static view of cash flow but also backward-looking.
Payments Dive
MAY 2, 2023
The company that provides community banks with payments, fintech and other services is gunning for growth with new private equity capital.
BankInovation
MAY 4, 2023
PacWest Bancorp said core deposits have increased since March and confirmed it’s in talks with several potential investors, seeking to calm markets after a 60% stock rout that made it the new focal point of concern over the health of US regional lenders.
CFPB Monitor
MAY 2, 2023
Last week, the CFPB, together with the Federal Reserve Board (Board), FDIC, OCC, and NCUA, issued a “ Joint Statement on Completing the LIBOR Transition.” The agencies issued the statement to remind supervised institutions that LIBOR will be discontinued on June 30, 2023 and to reiterate their expectations that institutions with LIBOR exposure should complete their transition of remaining LIBOR contracts as soon as possible. .
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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.
South State Correspondent
MAY 2, 2023
Last week, we published an article [ here ] discussing how fair value accounting for assets and liabilities may have prevented the failure of Silicon Valley Bank, even if sound risk mitigation practices were not resolutely embraced by management. We argued that valuing assets at historical value or measuring net interest margin (NIM) is not only a static view of cash flow but also backward-looking.
Payments Dive
MAY 5, 2023
The e-commerce platform’s cuts announced Thursday affect about 2,300 jobs, based on the company’s most recent headcount.
TheGuardian
APRIL 29, 2023
Microchips are an issue, of course, but China also makes the alloy wheels our cars mostly roll on. And what about TikTok? We look at ways a conflict might inflict yet more harm on our struggling businesses As the world struggles with the economic fallout from the Ukraine war, fears are mounting about a conflict that would be even more consequential: a Chinese invasion of Taiwan.
CFPB Monitor
MAY 5, 2023
The U.S. Supreme Court has agreed to hear a case in which the petitioners are challenging the continued viability of the Chevro n framework that courts typically invoke when reviewing a federal agency’s interpretation of a statute. While Loper Bright Enterprises, et al. v. Raimondo involves a regulation of the National Marine Fisheries Service (NMFS), the Supreme Court’s decision could have significant potential implications for when courts should give deference to regulations issued by all fed
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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
BankBazaar
MAY 4, 2023
Choosing the right Credit Card can be overwhelming with the sheer number of options currently available. But don’t worry, we’ve got you covered. In this blog post, we’ll walk you through the steps to choose the right Credit Card for you, with a little inspiration from Wednesday Addams. So, let’s get started! Credit Cards can be a useful financial tool when used in a responsible way.
Payments Dive
MAY 3, 2023
Gaming, cannabis and telehealth are some of “high-risk” niches that would benefit from more vertical-specific payments software, two partners for the firm contend.
TheGuardian
MAY 3, 2023
Rolling coverage of the latest economic and financial news, as FCA proposes shake-up that could expose investors to more risk Stock market reforms would ‘pass greater risk to investors’, FCA says FCA’s plan for stock market reform is both depressing and pragmatic Fed to raise interest rate again amid core inflation pressure Scott McCubbin, EY UKI IPO Leader, is urging the FCA to be careful about removing safeguards for shareholders, as it tries to make London a more attractive place to invest: M
CFPB Monitor
MAY 4, 2023
The FDIC recently announced that it has entered into a Consent Order with Cross River Bank (CRB or Bank) to resolve FDIC charges that the Bank engaged in unsafe or unsound practices related to its fair lending compliance. (The Consent Order was issued in March 2023 but not made public until the end of last month.) .
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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.
ATM Marketplace
MAY 5, 2023
Is self-service technology killing cash? Or is cash still relevant? Read more to find out.
Payments Dive
MAY 3, 2023
The financial technology provider is encouraging clients to be prepared to receive payments through FedNow.
TheGuardian
MAY 3, 2023
Lyrics of Stop changed to ‘stop right now, no more oil and gas’ because of bank’s fossil fuel funding Business live – latest updates Barclays’ annual general meeting was disrupted by climate activists deploying Shakespeare-inspired quotes and reworked lyrics of a Spice Girls hit to condemn the bank’s role as one of Europe’s largest funders of fossil fuels.
CFPB Monitor
MAY 4, 2023
The U.S. Supreme Court has agreed to review the Fifth Circuit decision in CFSA v. CFPB that held the CFPB’s funding violates the Appropriations Clause of the U.S. Constitution. After reviewing the history of the case from its initial filing to the Supreme Court’s grant of certiorari, we discuss the Fifth Circuit’s interpretation of the Appropriations Clause and the Second Circuit’s conflicting interpretation in its recent decision holding that the CFPB’s funding is constitutional and assess the
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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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