Sat.Jan 20, 2024 - Fri.Jan 26, 2024

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Why It’s a Good Time for Community Banks to Hire New Talent

The Financial Brand

This article Why It’s a Good Time for Community Banks to Hire New Talent appeared first on The Financial Brand. With thousands of employees on the hunt for new roles, layoffs can present an opportunity for smaller banks to recruit talent. This article Why It’s a Good Time for Community Banks to Hire New Talent appeared first on The Financial Brand.

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Future-Proofing Financial Services: Rule 3110 Updates Empower Brokers

Perficient

This post has been updated to reflect FINRA Regulatory Notice 24-02, issued January 23, 2024. The COVID-19 pandemic prompted several unprecedented shifts in society, notably impacting the workplace and necessitating the adoption of innovative technologies that facilitate collaboration and efficiency in a work-from-home (WFH) environment. For brokers, in the financial services sector, remote work became especially difficult due to the requirement for firms to register and supervise all home offic

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What does Gen Z want from banks?

ATM Marketplace

How should your bank appeal to Gen Z? Should the branch play a role? What about digital signage?

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Podcast: MDI status helps a mutual bank supercharge its strategy

ABA Community Banking

Late in 2023, Warsaw Federal — a $71 million mutual savings and loan in Cincinnati — was officially designated as a minority depository institution. The move to MDI status is part of the 130-year-old bank’s pivot to serving its community more deeply while building its capital base to support growth. On the latest episode of [.] The post Podcast: MDI status helps a mutual bank supercharge its strategy appeared first on ABA Banking Journal.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Get Ready for Large Action Models in Banking

South State Correspondent

You engage an app and speak your mind about what you want financially done. You are agnostic about which one of your many relationships accomplishes the task, only that the task gets done. Where traditionally, you might use an interface such as Siri or Alexa to pay your Verizon bill on time, now you tell your virtual assistant to “Reduce expenses by 10%, increase earnings by 10%, and put the difference into a savings account to result in more than $1 million in 10 years.” This is now

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Evolving Alongside Community Banks: A Conversation with ICBA’s Rebecca Romero Rainey

The Financial Brand

This article Evolving Alongside Community Banks: A Conversation with ICBA’s Rebecca Romero Rainey appeared first on The Financial Brand. The president and CEO of the Independent Community Bankers Association on the dynamics shaping community banking today and her vision for the industry's future. This article Evolving Alongside Community Banks: A Conversation with ICBA’s Rebecca Romero Rainey appeared first on The Financial Brand.

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The Great M&A Debate: Regional Bankers Argue the Need to Buy Scale in 2024

The Financial Brand

This article The Great M&A Debate: Regional Bankers Argue the Need to Buy Scale in 2024 appeared first on The Financial Brand. Do regionals have to consolidate to thrive? One leader says yes, but others see alternative strategies. This article The Great M&A Debate: Regional Bankers Argue the Need to Buy Scale in 2024 appeared first on The Financial Brand.

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Law firms jockey for payments action

Payments Dive

A proliferation of payments and fintech players has sparked a contest for talent among law firms seeking to meet clients’ needs.

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Acquisition and integration considerations for banks in 2024

Abrigo

Account for the details before your FDIC bank acquisition Consider these tips for assessing your institution and a to-be-acquired institution for a smooth integration You might also like this webinar, "Valuation and purchase accounting: Navigating the changing M&A landscape." Watch NOW Takeaway 1 With the FDIC increasing examination staff and 44 banks on the problem bank list last quarter, some acquisitive institutions are considering the FDIC bid process.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

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Banking and Non-Banking Industries Voice Concern Over Basel III Endgame Proposal’s Potentially Significant Negative Impact on Consumers

CFPB Monitor

On September 18, 2023, the Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency jointly published and sought comments on a proposal to implement new, standardized capital requirements that would, among other things, increase capital requirements for banks with $100 billion or more in total assets.

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3 reasons to attend Bank Customer Experience Summit in 2024

ATM Marketplace

Make it your late New Year's resolution to attend the jointly held Bank Customer Experience and Interactive Customer Experience Summit from Sept. 9 to 11 in Charlotte, North Carolina.

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Rivals may chase Fiserv special bank charter lead

Payments Dive

If the payments giant receives a special Georgia charter and gains access to the card networks, it could open the floodgates for other merchant acquirers, attorneys said.

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FedNow fraud prevention for credit unions: A guide for AML, fraud teams

Abrigo

Prevent fraud when adopting FedNow Credit unions can prevent fraud as they connect to FedNow. Use this guide to understand available tools and the steps AML and fraud teams should take. You might also like this FedNow implementation guide with details on appropriate AML/CFT and fraud considerations. DOWNLOAD Takeaway 1 Preventing fraud is a top concern of credit unions considering adopting FedNow, the new instant payments infrastructure from the Federal Reserve.

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The State of Automation in Financial Services 2024 Report

In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

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CFPB Agrees to Pay $6M to Settle Discrimination Claims by Black and Hispanic Employees

CFPB Monitor

After nearly a decade of litigation, Judge Beryl A. Howell of the U.S. District Court for the District of Columbia has approved the Consumer Financial Protection Bureau’s $6.0 million settlement of class claims of alleged discrimination by the CFPB against 85 Black and Hispanic employees. The class consists of all “minority employees and women who work or worked as Consumer Response Specialists and have been subjected to and harmed by the Bureau’s agency-wide pattern or practice of discriminatio

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Jeremy Hunt, instead of blowing £10bn on tax cuts, why not spend it on boosting growth? | Will Hutton

TheGuardian

Economic dynamism comes from high public investment, for which the rich should be contributing more Britain is unravelling in front of our eyes. No week passes without another dial on the economic, social and security dashboard flashing either amber or red. Thus last Friday we learned that after the closure of our last remaining steel blast furnaces in Port Talbot , Britain will become the only G20 country without the capacity to make virgin steel.

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Credit card delinquencies rise, especially for low-income earners

Payments Dive

Credit cards balances, auto loans and high rents are straining low-income consumers’ limited budgets, the New York Fed details in a new report.

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The Curious Appraiser’s Advantage

Realwired Appraisal Management Blog

For Chief Appraisers, are a few RMA CART meetings enough? For fee appraisers, are USPAP courses every two years enough? Are you learning enough to scale your value? How much knowledge outside our valuation bucket are you reading (books), attending (seminars) or listening to (podcasts)?

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.

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New York Governor’s Proposed TED Bill Includes Sweeping BNPL Legislation

CFPB Monitor

After promising earlier this year to “establish nation-leading regulations for the Buy Now Pay Later loan industry,” New York Governor Kathy Hochul took a significant first step in that direction by including Buy Now Pay Later (“BNPL”) legislation in her Proposed 2024-2025 Transportation, Economic Development and Environmental Conservation (“TED”) Bill.

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Your Credit Card Has A Past You Probably Didn’t Know About!

BankBazaar

What have your Credit Card ’s ancestors been up to? No idea? Join the club. But before that already expanding club gets wider, we thought we’d take it upon ourselves to break down history while sharing a few fun facts that we might have missed about our little plastic buddies ! There’s probably nothing new we can tell you about the Credit Card. It’s common knowledge now days to be aware of the popular ones or the ones with the stand-out features.

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PayPal floats service enhancements

Payments Dive

PayPal this year plans to roll out the “biggest changes in a decade” to its pioneering payments tool in a bid to better serve merchants and customers.

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The Cold Reality of the New Year

SWBC's LenderHub

The holidays brought laughter by the fireplace, warm desserts, and the joyous sounds of caroling. But lurking outside in the frigid cold, after the tree is put away and before the first credit card bill comes, winter is preparing a surprise for your members: Unforeseen car troubles threaten to cast a dark shadow over the recent festivities.

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Addressing Top Enterprise Challenges in Generative AI with DataRobot

The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.

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Bank of America files merits brief with SCOTUS in National Bank Act preemption case; DOJ seeks leave to participate in oral argument

CFPB Monitor

Bank of America, N.A. has filed its merits brief in Cantero v. Bank of America, N.A. , the case currently before the U.S. Supreme Court dealing with the scope of national bank preemption. The petitioners must file their reply brief by February 16, 2024. (The petitioners’ merits brief is available here.) .

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Ministers’ 99% mortgage idea could overheat UK housing market, say experts

TheGuardian

Scheme to support first-time buyers that would appeal to young voters reportedly being considered by No 10 Ministers could be at risk of fuelling a fresh house-price bubble, according to industry experts who have warned about a potential “99% mortgages” scheme for first-time buyers that would appeal to young voters before the next election. The scheme, which is reportedly being considered by the prime minister, Rishi Sunak, and the chancellor, Jeremy Hunt, before the spring budget on 6 March , w

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CFPB eyes NSF fee ban for transactions declined in real time

Payments Dive

It’s an uncommon penalty, but the federal agency asserts that as technology advances, financial institutions may be able to block more transactions at the time of a swipe, tap or click.

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Wells Fargo gives $1,000 bonus to its lower-paid employees

American Banker

Workers are eligible for the one-time cash grants if they earned a salary of less than $75,000 last year, and their total cash compensation was less than $85,000. The payments come amid a unionization push at the San Francisco-based megabank.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.