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Compliance changes to watch in 2023

Independent Banker

Community banks must continue to stay focused on regulatory discussions and remain nimble to respond to proposals and address requirements quickly and accurately. The FDIC’s long-term goal for the reserve ratio of insured deposits. Source: FDIC. Debit card interchange fees and routing. Projected changes. Quick Stat.

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OCC issues final CRA rule (but FDIC takes a pass)

CFPB Monitor

The OCC has issued a final rule revising its regulation implementing the Community Reinvestment Act (CRA). The final rule applies to national banks and federal savings associations. Although the OCC’s proposed revisions were issued jointly with the FDIC, the FDIC did not join in the final rule.

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Community banks most likely to approve small business loans

Abrigo

According to a recent survey from four Federal Reserve Banks, small regional and community banks have the highest approval rate for small business loans. Small regional and community banks had a much higher approval rate (90 percent) for those firms classified as “Growers. Only 28 percent sought more than $250,000.

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Federal banking regulators to testify at House Financial Services Committee May 19 hearing

CFPB Monitor

The scheduled witnesses are: Todd Harper, Chairman, National Credit Union Administration. Acting Comptroller Hsu is expected to be questioned about the OCC’s Community Reinvestment Act rule , its special purpose national bank charter for nondepository companies, and its fair access rule.

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The Future of Noninterest Income at Financial Institutions

Abrigo

Takeaway 3 Community banks have seen less volatility in noninterest income, and many are still eyeing growth across the category. Lawmakers and the regulatory community have taken notice of the increase in bank service charges and fee income and have responded, specifically regarding overdraft fees. Community banks target growth.

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Who were ICBA’s Top Lenders of 2022?

Independent Banker

Last year, community bank loan producers were faced with both record-low interest rates and a glut of deposits. But as they always do, they came through for individuals and businesses in their communities with a combination of personalized service and prudent risk management practices. American Bank, National Association.

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New Wealthfront Cash Accounts Bring In $1B Since Feb

PYMNTS

Of course, those more than beat the national average on checking accounts, which is currently at a 0.08 In addition, Wealthfront works with FDIC-insured partner banks — including East West Bank , New York Community Bank and others — to hold customers’ deposits. It now manages $13.5

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