EWA providers hail new Kansas law
Payments Dive
APRIL 25, 2024
Kansas has joined a pack of states in passing a law backed by earned wage access providers, as regulations for the industry remain a contentious issue.
Kansas banks runs afoul of money laundering standards again
American Banker
NOVEMBER 19, 2024
Small Business Bank in Lennox, Kansas received another cease-and-desist order from the Federal Reserve for failing to comply with anti-money laundering and Bank Secrecy Act requirements for the second time in 14 months.
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Regulator: Failed Kansas bank 'victim of a scam'
American Banker
AUGUST 4, 2023
Kansas Banking Commissioner David Herndon told American Banker that his agency declared Heartland Tri-State Bank insolvent because of a "very sudden" event that crippled the bank financially.
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Lessons Learned From the Fourth United States Bank Failure of 2023
Perficient
AUGUST 16, 2023
In 2017, the bank was converted from its National Charter to a Kansas state-chartered bank and renamed Heartland Tri-State Bank. Bank Closed By Regulators Almost all bank closures happen on a Friday so that regulators can work all weekend to reopen the bank on Monday.
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Ex-CEO of failed Kansas bank banned from banking
American Banker
NOVEMBER 21, 2024
The Federal Reserve issued an enforcement action against the former head of Heartland Tri-State Bank, who embezzled millions of dollars after falling victim to a crypto scam.
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Why Kansas bank failure did not raise alarms for industry
American Banker
JULY 31, 2023
Regulators noted the demise of Heartland Tri-State Bank involved an isolated problem. Industry observers cautioned against prediction of more failures to follow, saying second-quarter earnings show community banks generally remain in sound financial health.
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Kansas credit union regulator to retire this month
American Banker
NOVEMBER 9, 2020
Laura Kelly has nominated Vickie Hurt to succeed Jerel Wright, who will step down Nov.
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Failed Kansas bank rapidly borrowed $21 million from FHLB system
American Banker
FEBRUARY 12, 2024
Heartland Tri-State Bank, which failed after its CEO allegedly embezzled money to fund cryptocurrency investments, received $21 million in advances from the Federal Home Loan Bank system prior to failure.
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Kansas City Fed names veteran banker and regulator as chief
American Banker
AUGUST 2, 2023
Schmid will assume Esther George's former role on August 21.
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This Is How Our Regulators Are Viewing Bank Risk, Capital And Org Structure
South State Correspondent
JANUARY 8, 2015
The Kansas City Fed released an interesting research paper titled The Effect of Risk and Organization Structures on Bank Capital Ratios. The research looks at how risk and a bank’s organizational structure impacts its capital levels. In times of stress, does a bank holding company (BHC) structure help protect a bank or hurt it? '
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Fed hits Kansas-based Small Business Bank with enforcement order
American Banker
SEPTEMBER 5, 2023
The $100 million asset bank ran afoul of various regulatory standards, including credit oversight, anti-money laundering controls and third-party risk management.
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Regulators close Kansas bank in fourth failure of 2020
American Banker
OCTOBER 23, 2020
Equity Bank agreed to buy most of the assets, and assume all the deposits, of Almena State Bank.
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State Regulation, Conference of State Bank Supervisors, Financial Services, FinTech, Charles Clark, Washington State Department of Financial Institutions, License, Regulation, Bank of Indonesia, FinTech, Bitcoin, Cryptocurrency, News
PYMNTS
FEBRUARY 15, 2018
Through the Conference of State Bank Supervisors, Georgia, Illinois, Kansas, Massachusetts, Texas, Tennessee and Washington are looking to standardize the ways firms across traditional financial services and FinTech upstarts apply for, and are granted, licenses. Can the states make licensing – of the money movement kind – any easier?
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New CECL Excel SCALE Tool from Federal Reserve
Abrigo
JULY 26, 2021
The Scaled CECL Allowance for Losses Estimator (SCALE) tool was unveiled during an “Ask the Fed” webinar , where regulators described the Excel spreadsheet-based option using estimated loss rates from peers as a “ starting point ” in the calculation. Regulators said they have had discussions with the FDIC and the OCC.
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Ten Questions for Kansas City Fed President Esther George
American Banker
AUGUST 29, 2016
Kansas City Federal Reserve Bank President Esther George is best known nationally as a critic of the Fed’s monetary policy, but in a wide-ranging interview she talks about Dodd-Frank, bank capitalization and the challenges facing community banking, in addition to interest rates.
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Report: The Risky Business Of Navigating Online Sales Tax For Merchants
PYMNTS
SEPTEMBER 3, 2019
Merchants working to expand and sell online in more markets must comply with each market’s local sales tax regulations, however, and that is an increasingly complicated task. merchants may also be feeling new pains when selling to Kansas. There are already more than 2.5 headquartered online shopping marketplace Fruugo.
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133 Kansas City Bank to Pay $2.8M in Redlining Case with HUD
American Banker
FEBRUARY 29, 2016
First Federal Bank of Kansas City has agreed to a $2.8 million settlement with the Department of Housing and Urban Development to resolve allegations of redlining in African-American neighborhoods.
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28 Kansas City Fed rejects Custodia's master account application
American Banker
JANUARY 27, 2023
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Seven US States Seek To Simplify FinTech Licensing
PYMNTS
FEBRUARY 6, 2018
Reuters reported news on Tuesday that banking regulators from seven states across the United States are working to, as the newswire reported, “streamline” the FinTech reporting process, with an eye on those tech firms having an easier road toward offering their products and services across the nation.
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How to Measure Interest Rate Risk Effectively in Banks & Credit Unions
Abrigo
JUNE 11, 2021
Takeaway 1 Regulators stress sound risk management practices that include the ability to identify and measure interest rate risk (IRR). Regulators have repeatedly stressed the importance of sound risk management practices that include the ability to identify and measure interest rate risk. EVE Analysis.
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NFL Unveils 2020 Schedule But Questions Persist
PYMNTS
MAY 8, 2020
10 as the defending Super Bowl champion Kansas City Chiefs host the Houston Texans in a rematch of the American Football Conference Divisional playoffs, according to the NFL. The National Football League’s 101st season begins in prime time on Sept. Or will it? “In
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Small banks: Big challenges and big opportunities
Abrigo
FEBRUARY 23, 2023
According to the Federal Reserve Bank of Kansas City , community banks’ deposit market share dropped to 15% in 2022 from 22% in 2013. Balance runoff is picking up speed, according to financial consulting firm Curinos. For smaller banks, longer-term industry consolidation trends and competition are also eroding deposit market share.
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Fleet Cards Caught In Crosshairs Of Corporate Card Fee Debate
PYMNTS
FEBRUARY 6, 2019
” Regulators have not accused the company of wrongdoing, and FLEETCOR said all of its fees are lawful and comply with regulations. Analysis in 2015 from the National Consumer Law Center (NCLC) found that employees in Missouri and Kansas were hit hardest by payroll card fees imposed by issuers.
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Lime Raises $310M For Micromobility Expansion
PYMNTS
FEBRUARY 6, 2019
The company also plans to focus on safety issues , and pledged to work with regulators around the world on the issue. Partnerships like our transit data sharing for bike lane planning in Austin and Kansas City, or our membership on the St. Yet for safety to be built into micromobility from the street up, we cannot do it alone.
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Acquire or Be Acquired 2023: Disruption ‘Comes Home’ to Banking
Gonzobanker
FEBRUARY 1, 2023
An Expanding Regulatory Perimeter With the collapse of crypto and FTX serving as this generation’s Enron, discussions abounded that the reach of traditional regulators will expand into the fintech, shadow banking, and decentralized finance worlds.
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SWIFT Gears Up For Trade Via Blockchain
PYMNTS
JANUARY 31, 2019
The trio is comprised three executives of the Federal Reserve Bank of Kansas City: Barbara Pacheco, former senior vice president, Thomas Hoenig, former president, and Bruce Summers, former director of information technology.
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House Financial Services Committee to hold Sept. 26 hearing on real-time payments
CFPB Monitor
SEPTEMBER 25, 2019
The memo from the FSC Majority Staff indicates the hearing will focus on the development of a real-time payments (“RTP”) system and the risks, regulation, and market features of any future payments system. George, President and Chief Executive Officer, Federal Reserve Bank of Kansas City.
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Kansas City Fed President Esther George to retire, creating second 2023 opening
American Banker
MAY 25, 2022
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41 Federal Reserve To Launch FedNow Instant Payments System
PYMNTS
AUGUST 5, 2019
The move was described by Kansas Federal Reserve President Esther George as the biggest infrastructure upgrade embraced by the Federal Reserve since the ACH system went online in 1972. The Federal Reserve has officially announced it will create a real-time payments service, to be called FedNow.
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Non-performing ag loans increase, says lender survey
Abrigo
JUNE 12, 2015
Agricultural lenders are reporting increases in non-performing farms loans and decreased farmland values, according to the latest Agricultural Lender Survey conducted by the Kansas State University Department of Agricultural Economics.
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No permanent successor in sight as Kansas City Fed president retires
American Banker
JANUARY 30, 2023
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Visa’s Approach To Simplifying Cross-Border Payments
PYMNTS
JULY 31, 2019
Cross-border transactions remain difficult to navigate due to the various regulations and technologies available in different countries. Nearly every country has its own set of protocols in place to protect its citizens, and navigating those regulations is necessary for any provider looking to improve cross-border payment options.
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144 How Online Sales Tax Impacts Different eCommerce Models
PYMNTS
SEPTEMBER 4, 2019
Will this increasingly regulated online sales tax environment affect this growth? Kansas stands out for recently passing an economic nexus law that does not include any exemptions for small businesses. businesses could also benefit by helping foreign merchants enter the market and navigate economic nexus regulations.
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129 How to stress test your ag portfolio
Abrigo
JUNE 17, 2015
The report, from the Federal Reserve Bank of Kansas City , stated that demand could remain high since futures markets for fall crops show prices are likely to remain low because of the potential for another record harvest.
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The clock is ticking on the Kansas City Fed's presidential search
American Banker
JANUARY 9, 2023
(..)
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Dodd-Frank Is Making Rural Mortgages Scarce, Small Bank Warns
American Banker
JUNE 9, 2016
The clock is ticking to amend Dodd-Frank Act regulations before consumers in rural communities run out of borrowing options, community bankers from Kansas and Oklahoma told a House panel on Thursday.
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Ag lending risk increasing as result of declining incomes
Abrigo
AUGUST 20, 2015
“Although loan volumes have increased steadily since 2011, recent increases have coincided with a period of declining farm income,” said a recent report from the Federal Reserve Bank of Kansas City. The report noted that since 2012, crop cash receipts have declined by more than 20 percent, according to the USDA.
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What's Next for Energy Lenders? Lots of 'Wound-Licking'
American Banker
JULY 11, 2016
Expect banks to pull back on energy lending in the near term, as regulators step up their scrutiny of oil loans and bankers approach the business with a "different attitude," says Mariner Kemper, chairman and chief executive at UMB Financial in Kansas City, Mo.
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Fed Concerned Trade War Could Trigger Recession
PYMNTS
OCTOBER 10, 2019
Esther George of the Kansas City Fed and Eric Rosengren of the Boston Fed voted to “keep the target range unchanged,” the news outlet said. At last month’s meeting, James Bullard, president of the St. Louis Fed, voted for a bolder rate cut of 50 basis points. Invesco portfolio manager Noelle Corum told the FT that the U.S.
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Federal Reserve Names New Payments Strategy Director
PYMNTS
AUGUST 25, 2017
According to Esther George, Federal Reserve Bank of Kansas City president and chief executive officer, Sapenaro played a prominent role in developing those strategies. The position means Sapenaro will lead the Fed’s efforts as outlined in a paper titled Strategies for Improving the U.S. Payment System published in early 2015.
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Onward Financial’s Employer-Backed Payday Loan Alternative
PYMNTS
FEBRUARY 5, 2019
Regulators can ban payday loans – but no one can ban cars that break down, heating systems that drop dead in the middle of the winter, medical crises or any of the myriad unexpected financial events that send consumers running to the embrace of short-term lenders. But now, they are ready to think about expanding.
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CardX CEO: Ban On Card Surcharge Ban May Lead to Lower Interchange Fees
PYMNTS
JANUARY 28, 2019
As noted in this space by Karen Webster, the ban on the ban – where, now, in New York, surcharges are allowed when merchants post total prices for transactions – shows the inefficiencies of regulation that supersede card networks’ own rules governing merchant activities.
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125 CFPB Set to Release Payday Lending Proposal on June 2
American Banker
MAY 18, 2016
The bureau said Wednesday that it plans to hold a public hearing in Kansas City, Mo., The hearing will be held at the Kansas City Convention Center and will feature remarks from CFPB Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and the public. to discuss small dollar lending.
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48 Is Tribal Lending Done?
PYMNTS
JANUARY 16, 2018
The Kansas businessman – facing a 2017 conviction for violating federal truth in lending and racketeering laws in connection with his online lending business – attempted to apologize for the $3.5 Regulators spent most of 2017 cracking down on the practice. billion he reportedly made while running that business. Tribal Lending .
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