CFPB Monitor

JUNE 9, 2022

Proponents of the Payday Loan Interest Rate Cap ballot initiative in Michigan met the June 1, 2022 deadline to appear on the November 2022 ballot in the state. If the legislature rejects the proposed initiative or fails to act by the deadline, the proposal will be placed on the November 2022 ballot for voters to decide.

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South State Correspondent

MARCH 13, 2023

On the liability side of SVB’s $173B in deposits at the end of 2022, approximately 97% were uninsured and above the $250k in FDIC protection threshold. Equally important is the bank’s securities duration, as shown in the graph below. Approximately 56% of the bank’s securities had repricing greater than 15 years.

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Risk Management Management Community Bank Community 221

South State Correspondent

JULY 10, 2023

Next week’s article will consider the challenges and possible solutions for community banks to adopt loan hedging programs. The largest 20 banks in the country by asset size and their interest rate notional swap position at the end of 2022 are shown below. Of the largest 250 banks, 90% use interest rate hedges.

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South State Correspondent

DECEMBER 13, 2023

Quantitative Tightening The Fed engaged in QE (buying Treasuries and mortgage-backed securities) in response to the great financial crises and then escalated this policy tool during the pandemic. However, in the middle of 2022, the Fed started shrinking its balance sheet in response to inflation running well above its long-run target.

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Community Bank Community Policies Tools 195

Gonzobanker

JANUARY 25, 2023

of 401(k) participants in October 2022, up from 0.3% In December 2022, President Joe Biden signed the Setting Every Community Up for Retirement Enhancement 2.0 Act (the SECURE 2.0 The Impact of SECURE 2.0 The Secure 2.0 Financial Institutions’ Response to SECURE 2.0 The post What SECURE 2.0

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Security Taxes Tools Marketing 78

Abrigo

JULY 13, 2023

Avoid fraud losses from pig butchering scams FinCrime professionals looking to prevent pig butchering scams in the age of cryptocurrency can follow these steps to tighten security. billion in fraud losses in 2022. billion in 2022, a 127% increase from $1.45 billion loss in 2022. billion in 2021.

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Fraud cryptocurrency Training social media 195

Abrigo

MAY 22, 2024

Small business lending is also a prominent line of business for many financial institutions, especially those driven by a mission to help their communities thrive. trillion between 2019 and 2022. While small business loans inherently benefit business owners, they also benefit communities, according to 2021 research for the SBA.

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Lending St. Louis Community Marketing 195

Ublocal

APRIL 6, 2023

Some local issues affecting food security include: Gaps in Assistance: Public assistance often doesn’t cover all food-related needs, especially in our region. Health Issues and Disabilities: Nearly 20% of households with a member who was not in the labor force due to disability had very low food security.

New Hampshire 52

New Hampshire Vermont Community Regional 52

Abrigo

APRIL 22, 2024

Small business lending is also a prominent line of business for many financial institutions, especially those driven by a mission to help their communities thrive. trillion between 2019 and 2022. While small business loans inherently benefit business owners, they also benefit communities, according to 2021 research for the SBA.

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Lending St. Louis Community Marketing 243

Independent Banker

OCTOBER 1, 2022

“While there’s no cyber or data security silver bullet, by bringing the theoretical into a true banking environment, we can begin to establish action plans that speak to real-world attacks.”. Cyber and data security have long been areas of emphasis for community banks, but in today’s escalating digital environment, that focus has grown.

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Independent Banker

MARCH 31, 2022

From credit union overreach to onerous overregulation, the 2022/23 ICBA board of directors has plenty on its to-do list. Executive committee members tell us what advocacy issues they’ll be focused on during their terms, while board members share their words of wisdom for up-and-coming community bankers: themselves. By Molly Bennett.

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Independent Banker

FEBRUARY 28, 2022

By Jim Reber, ICBA Securities. What this has to do with community bank investment management may not be readily apparent. Belly of the curve matters to community banks. First, the average duration of a community bank bond portfolio is more than four years right now. Photo by Gleitfrosch/iStock.

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Community Bank Community Memphis Security 91

Independent Banker

FEBRUARY 28, 2023

By Jim Reber, ICBA Securities As many community bankers are still picking up the pieces from their bond portfolio’s meltdown last year, it occurs to me that the breathtaking rise in rates has created at least one byproduct that is both unusual in frequency and tangibly beneficial for future performance. on issue date each month.

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Community Bank Memphis Community Security 91

South State Correspondent

NOVEMBER 7, 2022

Available-for-sale securities are reported at fair value, and any unrealized gains and losses are included in accumulated other comprehensive income (AOCI) in the equity section of the balance sheet. However, community banks hold approximately 23.5% of assets in securities and 63% of assets in loans. Fast forward to today.

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Marketing Community Bank Community Security 195

Independent Banker

DECEMBER 31, 2022

Community banks must continue to stay focused on regulatory discussions and remain nimble to respond to proposals and address requirements quickly and accurately. CFPB issued Circular 2022-06 about two fee practices that it considers unfair and unlawful under existing law. By Mary Thorson Wright. Disclosed bank fees on deposit items.

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Compliance FDIC Community Bank Community 100

Abrigo

FEBRUARY 23, 2023

Relationship focus helps CFIs Small banks can leapfrog competitors and better serve their communities by combining their unique advantages with smart management and partnerships. How can community financial institution leaders manage their challenges and seize their opportunities at the same time?

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Community Bank Kansas City Community Lending 195

Independent Banker

JULY 31, 2022

The financial press, economic commentators and social media sites have used a collection of terms this year that convey a certain image of market values for investment securities: “Plummet.” Community bankers have come to grips with the notion of their bond portfolios being, ahem, “submerged” in a number of ways. Underwater.”

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Memphis Community Security Community Bank 103

South State Correspondent

APRIL 23, 2023

Fair Value versus Amortized Cost The amortized cost of assets is the accounting treatment applied to securities known as held-to-maturity, or HTM. In the case of SVB, the bank’s HTM securities portfolio was $91.3Bn at the end of 2022, and the bank did not need to provide the fair value of these securities on its balance sheet.

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Management Security Risk Management social media 195

Abrigo

JANUARY 31, 2023

register now Takeaway 1 While the AML/CFT industry seemed to have been in a holding pattern during 2022, regulatory movement is expected for 2023. Anti-money laundering (AML) and countering the financing of terrorism (CFT) professionals spent 2022 awaiting highly anticipated regulatory guidance, which was slow to appear.

Fraud 195

Fraud Training Regulation Trends 195

Independent Banker

APRIL 30, 2022

Loan providers share an infectious enthusiasm and growing optimism for one vertical’s prospects in 2022: commercial lending. Here’s how community bankers can take advantage of various sectors—including SBA lending—over the next 12 months. anticipates a low double-digit increase in its commercial lending in 2022.

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Lending Community St. Louis Community Bank 158

BankInovation

JANUARY 30, 2023

Credit unions and community banks are looking to digital communications platform Eltropy to strengthen call center authentication and ultimately reduce fraud as voice-cloning tools and advanced AI present more opportunities for fraudsters within financial services.

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Fraud Community Bank Community Tools 98

Abrigo

FEBRUARY 8, 2024

Takeaway 2 Client fraud education at financial institutions should include takeaways that explain how to protect themselves from phishing and tips for staying secure online. While fraud detection software and robust security measures are essential, educating clients on fraud prevention is equally important.

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Independent Banker

JULY 31, 2022

Fallout from recent global events presents an obstacle to generating revenue for community banks. Since COVID-19, profitability planning for community banks has mainly hinged on how the government was coping with the pandemic and the key role financial institutions played in keeping the economy afloat. By Elizabeth Judd.

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Strategy Community Bank Louisville Community 135

Independent Banker

OCTOBER 31, 2022

By Jim Reber, ICBA Securities. This isn’t any idle talk among Fed watchers and other pundits this time around, nor is it peripheral to the management of financial institutions, including community banks. I need to mention that a sector that is quite important to community banks is not now, nor has it ever recently been, inverted.

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Community Bank Community Taxes Management 113

Independent Banker

NOVEMBER 30, 2021

Here’s another conversation with our consummate community banker. By Jim Reber, ICBA Securities. Hi Jim, this is Charlie Brown with Community Trust Bank. How are things at the community bank?”. “I Most community bankers I know don’t like to admit defeat. This is Jim Reber.”. “Hi Do you have a minute?”. “I

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Community Community Bank Taxes Security 126

CFPB Monitor

NOVEMBER 22, 2022

HUD also issued Mortgagee Letter 2022-18 addressing with regard to FHA-insured loans general flood insurance requirements, flood insurance requirements for condominiums, manufactured homes and home equity conversion mortgage (HECM) loans (i.e., Both the final rule and Mortgagee Letter are effective December 21, 2022. .

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Policies Meeting Exercises Regulation 148

Abrigo

MAY 30, 2023

Takeaway 2 Reporting tiers and their deadlines are based on the number of covered transactions to small businesses that a lender originated in 2022 and 2023. In fact, a company or organization must have originated at least 100 covered credit transactions in 2022 and 100 in 2023 to fall under the rule’s requirements at all (i.e.,

Compliance 195

Compliance Lending Data Regulation 195

Independent Banker

APRIL 30, 2022

As consumers’ changing preferences prompt community banks to deliver new technologies, here are some of the top trends to keep your eye on. Let’s look at a few of these trends, how community banks can determine if they’re right for them and how to get on board. By Mary Yerkes.

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Trends Payments Community Bank Community 144

Abrigo

MARCH 8, 2024

In 2023, reported fraud losses surged to over $10 billion, a 14% increase from 2022, despite a similar number of cases being reported at 2.6 Create and follow your internal processes for communications and security. Notably, the nature, targets, and methods of perpetuating fraud are evolving. billion in losses reported.

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Fraud Technology Trends Training 195

Independent Banker

DECEMBER 31, 2022

Here’s how community banks can enhance their payments offerings. CB Insights revealed that Q3 2022 fintech investments in payments continue to dominate financial services, with early-stage deals reaching a record high even as overall funding begins to cool. Photo by Juan Moyano/Stocksy. By Colleen Morrison. Quick Stat. Source: EY.

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Trends Payments Community Bank Texas 140

CFPB Monitor

JULY 19, 2022

On July 13, 2022, the House Committee on Oversight and Reform, Subcommittee on National Security held a hearing entitled “Protecting Military Servicemembers and Veterans from Financial Scams and Fraud.” A recording of the hearing is available here. .

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Fraud National Security social media 78

Independent Banker

OCTOBER 1, 2022

While the legal status of banking cannabis-related businesses remains fuzzy at the federal level, community banks in some states are finding that, with proper controls, they’re able to enter this niche market and offer banking services to these local businesses. It’s a strategy that an increasing number of community banks are embracing.

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Marketing Compliance Community Community Bank 113

Independent Banker

OCTOBER 1, 2022

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. Data privacy and security is a hot topic and is only getting hotter. By Katie Kuehner-Hebert. Bob Hickok.

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Data How To Community Bank California 91

PYMNTS

APRIL 3, 2020

The deal between ECB, the Eurosystem and Sveriges Riksbank will take effect in 2022. ECB President Christine Lagarde said cooperation of the central bank community in Europe “works effectively.”. Launched in 2018, Euro’s instant payments were created to also be able to settle other currencies, the agency said.

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Payments National Policies Community 187

PYMNTS

JANUARY 18, 2022

And at Onbe, we’ve helped many of our customers move away from legacy disbursement methods that were no longer serving them and their recipients, toward payment capabilities that empower organizations to pay quickly, reliably, conveniently, securely, across borders and at scale — in short, everything a modern business needs to meet the future. .

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eBook Meeting Resources User Experience 159

Independent Banker

FEBRUARY 28, 2022

The digital world has opened vastly broader avenues for community banks to attract new customers—especially if they partner with fintechs in their endeavors. Fintechs know how to reach and work with the community. Coconut Software in Saskatoon, Saskatchewan, Canada, is one fintech solving this problem for community banks.

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Fintech Marketing Community Bank Community 136

Abrigo

APRIL 18, 2022

According to a White House statement , the executive order's goals are to: enhance consumer protection ensure financial stability increase national security reduce climate risk The White House describes the executive order as an attempt to balance innovation and U.S. Promote U.S. leadership and economic competitiveness The U.S.

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cryptocurrency Fraud United States Leadership 195