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How to reduce the regulatory burden on community banks

Abrigo

In recent months, the momentum around reducing the regulatory burden on the nation’s community banks has continued to gain steam. There are more than 6,000 banks and thrifts under $10 billion in assets and they are often less equipped to deal with complexities brought by additional regulations.

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Funding Round Could Give AvidXchange $2B Valuation

PYMNTS

percent through 2028, according to Boston Consulting Group. Nashville community bank Studio Bank was the first FI to adopt the AvidPay solution. The integration means banking customers will gain access to the AvidPay network for streamlined accounts payable (AP). The company announced on Thursday (Dec.

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How can bank boards respond to increased regulatory scrutiny?

Abrigo

A recent Wall Street Journal article by Victoria McGrane and Jon Hilsenrath highlighted how the nation’s regulators are increasingly questioning and turning their focus toward bank boards. These smaller banks have also seen new, and more frequent, attention from regulators.

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CFPB announces new appointments to advisory groups

CFPB Monitor

The CFPB has announced the appointment of new members to its Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic Research Council. Arjan Schutte, Founder and Managing Partner, Core Innovation Capital, Los Angeles, CA. Community Bank Advisory Council Members.

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2021 GonzoBanker Awards

Gonzobanker

Goes to Eric Sprink, Coastal Community Bank , Everett, Wash. Eric has always been a student of innovation, and now at Coastal, this fearless leader has spearheaded a number of high-profile banking-as-a-service partnerships. Famous for turning around a bank to create the foundation for powerful U.S. 82% to over 2.3%

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The SMB Challenger Banks: Bank Novo

Fintech Labs Insights

Its first outside capital was from the Barclays Techstar accelerator in 2017 ( see Techstars demo here ). SMB digital banks. The banking partner is Middlesex Savings Bank , a Natick, MA-based community bank with $5.7B in assets and 32 branches in the Boston suburbs. Debit card.

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The community banks standing by hospitality customers

Independent Banker

Many hotels and other hospitality businesses haven’t fully bounced back from COVID-19 travel and safety restrictions, but community banks have been by their side through the challenges. MainStreet Bank has a sizable hotel loan portfolio with roughly $100 million in loans on 15 properties. By Beth Mattson-Teig. Photo: R.J.