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Cutting the red tape for community banks

Abrigo

By eliminating or revising some of the items that banks must include in their call reports the FFIEC hopes to streamline the reporting and decrease the amount of time spent on them. The article allowed banking executives to weigh in on the subject. Sound is a $500 million institution.

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At last, a Washington idea community banks and credit unions can use.

Long Lasting Ideas

Often in this space, we’ve written about how Washington has made community banks its personal punching bag. Sarbanes-Oxley, Dodd-Frank, the FDIC and other financial regulators – as well as Congress and the White House — have not been friendly to community banks, all while bailing out Wall Street big boys.

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Regulation and Compliance: Ready for Review

Independent Banker

This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. The better prepared, the less likely they are to run afoul of the continually shifting regulations. Benjamin Franklin famously said that “by failing to prepare, you are preparing to fail.”

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Fed Chairman Concerned Over Shrinking Bank Market

PYMNTS

He pointed to the Community Reinvestment Act, which encourages banks to loan to small businesses. Reports said Powell noted that looser community bank regulations may help keep branches open. Bank mergers aren’t the only factor behind closing bank branches, however.

Marketing 108
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FDIC Extends Comment Deadline on Deposit Recordkeeping Proposal

American Banker

WASHINGTON – The Federal Deposit Insurance Corp. has extended the comment period on a plan that would require large banks to keep better track of their insured deposits, while making clear it will not extend it to community banks.

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FDIC Launches Small Business Lending Survey

American Banker

WASHINGTON -- The Federal Deposit Insurance Corp. is launching a survey this month to collect data on the small business lending practices of insured banks.

Survey 40
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Digital Disruption

Independent Banker

Regardless of the name, nonbank technology firms are wedging themselves between community banks and their customers by offering a slew of traditional and nontraditional banking products. This is why ICBA and community banks must continue to push consistent regulation of bank and nonbank financial service providers.