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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. Sushil Patel, State Bank of Texas.

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AI and generative AI use cases in banking: 6 real-world examples

Abrigo

But Boston Consulting Group (BCG) says generative AI serves a fundamentally different purpose than predictive AI, which is the powerful tool with which many financial institutions are already familiar. Another example of using predictive AI is small business lending software that incorporates AI-driven lending intelligence.

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Radius Bank in Boston Launches National SBA Lending Platform

American Banker

Radius Bank in Boston has recruited a team to lead a national push into Small Business Administration lending. Among the new hires is Diane Gallion, a former executive at The Bancorp in Delaware, who will be national director of government-guaranteed lending at Radius.

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Strategies for fighting remote authentication fraud

Independent Banker

Experts say community banks can use education, biometrics and solid cybersecurity practices to fight this growing area of crime. Say a scammer calls a community bank customer and gains their trust by using information obtained from a major data breach. By Elizabeth Judd. Examples of remote authentication fraud.

Fraud 160
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CFPB announces advisory committee members

CFPB Monitor

Last week, the CFPB announced the appointment of new members to its advisory committees: Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), Credit Union Advisory Council (CUAC), and Academic Research Council (ARC). Nikitra Bailey, EVP, Center for Responsible Lending (Durham, NC). Bank (Minneapolis, MN).

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Eastern bank in Mass. taps Citi cards exec to lead consumer lending

Payments Source

Eastern Bank in Boston has hired a former Citi Cards executive to oversee its consumer-lending business.

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Efficiency now: 8 smart strategy tips

Independent Banker

Fallout from recent global events presents an obstacle to generating revenue for community banks. It’s certainly an interesting time to be a community bank, but there are still plenty of ways to make efficiencies with an eye on profitability. ? But one of the biggest problems in community banking today is a fear of risk.

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