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The Folly of Peer Groups

Jeff For Banks

But because financial information on competitors is so readily available in banking (we must report to the FDIC our quarterly results and it is available to all), we become over-reliant on them. Regulators fall victim to this trap too. See below for a snapshot from an Umpqua Bank of Portland, Oregon UBPR.

Groups 60
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Bankers: Is your strategy the same as your competitor?

Jeff For Banks

The Bank offers a wide range of deposit services including demand deposits, regular savings accounts, money market accounts, individual retirement accounts, and certificates of deposit with fixed rates and a range of maturity options. We believe we can effectively compete as a community bank in our market area and the niche markets we serve.

Strategy 101
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SAFE Banking Act Gains Cannabis-Friendly Spotlight In Congressional Hearing

PYMNTS

Over the last two years, more than $500 million worth of cash deposits from the legitimate cannabis business has flowed into Maps Credit Union in Salem, Oregon. market for legal weed. The bill would prevent federal regulators from targeting banks that accept deposits from legal cannabis operators. But that’s the exception.

Oregon 230
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SAFE Banking Act Gains Cannabis-Friendly Spotlight in Congressional Hearing

PYMNTS

Over the last two years, more than $500 million worth of cash deposits from the legitimate cannabis business has flowed into Maps Credit Union in Salem, Oregon. market for legal weed. The bill would prevent federal regulators from targeting banks that accept deposits from legal cannabis operators. But that’s the exception.

Oregon 115