Remove 2010 Remove Community Bank Remove Compliance Remove Regulation
article thumbnail

GAO: Dodd-Frank beginning to impact community banks and credit unions

Abrigo

Government Accountability Office (GAO), community banks and credit unions are starting feel the impact of the Dodd-Frank Wall Street Reform Act. The Act, announced in 2010, requires or authorizes federal agencies to issue rules to strengthen the financial services industry.

article thumbnail

Will D&I requirements change this year?

Independent Banker

Some lawmakers on Capitol Hill are increasingly interested in diversity and inclusion (D&I) compliance requirements for financial institutions. Here are the key areas of D&I policies and practices that community banks may need if these requirements change or become mandatory. By Mary Thorson-Wright. Legislative updates.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Data privacy: How to keep customer data safe

Independent Banker

But as the prevalence of security breaches grows, so do the opportunities for community banks to position themselves as guardians of their customers’ personal data through compliance, technology and relationship building. By Katie Kuehner-Hebert. Data privacy and security is a hot topic and is only getting hotter. Bob Hickok.

Data 91
article thumbnail

Fighting Digital with Digital

Independent Banker

Community banks cannot afford to ignore the staggering pace of lending adoption by both individuals and businesses using digital-only platforms from various nonbank technology-based specialty lending firms. But community banks should not be without hope, nor should they underestimate the significance of customer relationships.

article thumbnail

What SEC Filers Have Learned About CECL Implementation

Abrigo

Regulators, investors, and other stakeholders will be watching and listening for updates on the impacts of the accounting change. Even now, however, banks and credit unions with 2023 deadlines are seeking information about what the earliest adopters have learned so far in their implementation efforts. Be willing to change as needed. .

article thumbnail

20 Banking Realities for 2020

Gonzobanker

So, to get your Gonzo executive brains warmed up for a new year, I offer you 20 important banking realities for 2020 to guide your strategic execution efforts: 1. We are entering the “tech decade” in banking. In the years 2010-2020, new tech adoption transformed customer expectations.

article thumbnail

Lack of an M&A Strategy May Leave You Dateless at the Prom

Gonzobanker

At the same time, the pace of new bank charters has dwindled to near non-existence. For decades and decades, dozens, if not hundreds, of bank charters were issued each year. Between the end of 2010 and 2013, one new bank opened in the United States. . Total number of banks $1 - $50B in assets 554 553 642.