Independent Banker

DECEMBER 31, 2021

Independent Banker ’s annual Community Bank CEO Outlook survey reveals how community bank leaders plan to leverage today’s deposit-laden banking environment to grow this year. Janet Silveria, Community Bank of Santa Maria. So, what’s at the top of community bank leaders’ to-do lists? What changes will 2022 bring?

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Independent Banker

JANUARY 31, 2023

Community bankers and industry experts share how to best put this data to use. billion-asset First State Community Bank in Farmington, Mo. To use data effectively, community bankers need to balance the information with what they know to be true about their customers. All data creates a competitive advantage. The results?

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PYMNTS

DECEMBER 12, 2019

FinTech startup Curve is facing allegations that it is sending corporate cards to customers expecting consumer cards, leading to higher hidden fees, reports in Business Insider said Thursday (Dec. According to reports, customers are voicing complaints that Curve was not transparent enough when sending cards to users.

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Independent Banker

DECEMBER 31, 2022

We simply need to remember what makes us special as community bankers, and with that as our foundation, we can embrace this season of change in four primary ways: 1. Demonstrating the community bank difference. That’s the community bank difference, and we should be proud to reiterate it throughout the year. My Top Three.

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CFPB Monitor

MAY 17, 2021

On May 19, 2021, the House Financial Services Committee will hold a hearing , “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions.” The scheduled witnesses are: Todd Harper, Chairman, National Credit Union Administration.

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Banking Exchange

FEBRUARY 3, 2020

The Rhode Island-based bank says legal action from the consumer regulator is “unwarranted” and ignores previous remedial work Consumer Credit Compliance Customers Cards CFPB Compliance/Regulatory Consumer Compliance Community Banking Feature3 Feature.

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Bank Innovation

MARCH 10, 2016

Is there a way to prevent regulators from derailing a bank’s fintech initiatives? In fact, the influential community banker has devised a distinct strategy for limiting the bank’s regulatory risk from fintech projects, Read More. Jill Castilla, president and CEO of Citizens Bank of Edmond, located in Edmond, Okla.,

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Abrigo

AUGUST 31, 2023

Naming conventions One benefit of customer-centric KYC is that it differentiates community financial institutions from larger, more impersonal banks by allowing clients to retain their individuality and build personal relationships. Members of Amish or sovereign citizen communities often have fewer government-issued IDs.

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Abrigo

JANUARY 30, 2024

Attendees return from ThinkBIG energized and informed so they can continue positively impacting their institutions and, more importantly, their communities. Network with bankers, auditors, and regulators Networking has always been table stakes to ThinkBIG conference attendees. Don’t take our word for it, though.

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Abrigo

JULY 13, 2023

A good first defense is investing in fraud detecting software that detects specific fraud in their clients' accounts, such as account takeover, ACH, new account, kiting, debit card, and check card fraud, along with following cybercrime security tips from the FBI. Enhance data analytics capabilities : Data is a powerful tool.

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PYMNTS

APRIL 10, 2017

The lead regulator for U.S. In September, Wells Fargo reached a $190 million settlement with the Comptroller of the Currency after employees trying to meet aggressive internal sales targets applied for about 565,000 cards, as well as $1.5 million deposit accounts, allegedly without receiving customer consent. Maxine Waters, U.S.

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Bussman Advisory

OCTOBER 7, 2023

Join our community of 50,000+ subscribers and stay informed on the latest trends and news in the FinTech & AI world with the weekly newsletter provided by Bussmann Advisory. This decline was exacerbated when UK regulators denied its request to modify capital requirements calculations for its residential mortgages.

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American Banker

APRIL 8, 2024

Any approval of the proposed Capital One-Discover merger must come with a pro-competitive 1% interchange fee condition to benefit consumers and small businesses and challenge the dominating duopolist Visa, and a pro-community 5% deposit reinvestment condition.

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PYMNTS

JUNE 20, 2019

The two-location, 7,200-member River Valley Community Federal Credit Union (RVCFCU), recently started providing its members with mobile video banking. percent of credit union members consider their FIs’ mobile app offerings to be “very” or “extremely” important — credit cards are often a differentiator among financial institutions.

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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. Debit card interchange fees and routing. The Federal Reserve Board finalized updates to the board’s rule for debit card transactions. By Mary Thorson Wright.

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PYMNTS

AUGUST 24, 2016

and the first in Puerto Rico to offer its credit cards for use in Cuba. In a press release , Popular said the Mastercard credit cards of its two banking subsidiaries, Banco Popular de Puerto Rico and Popular Community Bank, can be used at any of Cuba’s authorized merchants and ATMs throughout the country. regulations.

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Chris Skinner

JUNE 2, 2017

Things we’re reading today include … Barclays sells £2.2bn stake in African business Lloyds bulks up in credit card market with £1.9bn takeover EU regulator fines Moody’s €1.24m for breaching credit rating rules Bank of England faces strike as workers vote on ‘contemptuous’ 1pc pay offer Peer-to-peer lender Zopa moves towards (..)

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South State Correspondent

OCTOBER 26, 2023

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. Below is a breakdown of all 300 sessions, less the demos and sales pitches. The near-frictionless Know Your Customer (KYC) solution merits a look from banks.

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PYMNTS

NOVEMBER 13, 2020

But in the alcohol beverage arena, unique regulations — many of which date back to the era of prohibition — have added an extra layer of complexity to the supply chain. Despite a growing community of FinTech solutions geared toward the industry, managing invoices and B2B payments remains a challenge. Navigating B2B Payments Compliance.

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Abrigo

MARCH 8, 2024

As a financial institution, you are responsible for educating your community and clients on financial patterns and bank wire fraud trends. Ensure all employees are familiar with the processes and protocols and that they follow them every time. Spread the word. Navigate your BSA exam with tips from this on-demand webinar.

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PYMNTS

SEPTEMBER 16, 2016

“High, restrictive fees and cumbersome processing methods have traditionally kept renters from using cards to pay rent and made it challenging for operators to have an efficient method of payment processing,” said Kate Hampton, vice president of ResidentPay at Entrata, said in a press release. for participating properties.

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Chris Skinner

MAY 1, 2017

This would enable a FinTech to go through ONE regulator to get to market, rather than the 200 or more they would have go through today. The OCC proposal drew over 100 comment letters after its release, and opposition became evident from multiple quarters including state regulators and the Independent Community Bankers of America.

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PYMNTS

NOVEMBER 26, 2019

Many card-based solutions have recently debuted, aimed at helping businesses to more easily track expenses, and gain insights into how company funds are spent in the field. The solution also allows managers to set limits on how much money can be spent with the cards, and cancel or freeze them at any time, if necessary. Yordex , a U.K.-based

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Independent Banker

AUGUST 31, 2022

Community banks can get up to speed on current legislation and regulations to both protect their customers from unauthorized or false deposit account transactions and to prevent them from happening in the future. The primary resource for deposit account error resolution is Regulation E—the Electronic Funds Transfer Act (EFTA).

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Independent Banker

NOVEMBER 30, 2022

When it comes to supporting outliers in the Las Vegas community, Lexicon Bank knows how to play its cards. But as a community bank that is there to serve the gaming hub of Las Vegas, Lexicon Bank welcomes these players with open arms. We have found a way to service that and get the regulators comfortable. Assets: $237.6

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PYMNTS

FEBRUARY 28, 2020

Regulations, said the report, are “extremely lax” especially when it comes to Know Your Customer (KYC) and anti-money laundering (AML) efforts. Carding” is also a fraudster favorite, according to the report. This practice involves the use of stolen credit cards to make fraudulent purchases. They call this practice ‘compras.’

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Jeff For Banks

APRIL 4, 2024

Shadow bank lending is similar to bank lending but is not subject to the same regulations, and compensating deposit balace requirements. Regulation and the Political Environment "Last month, the CFPB reported how banks have become more dependent on these fees to feed their profit model on checking accounts.

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PYMNTS

MARCH 19, 2020

was formed in 2009 as a payment services provider to enable businesses to accept card payments. Some bank lobbyists and community groups were not in favor of the move because it was going after an Industrial Loan Company (ILC) bank charter. Square, Inc. Square launched its campaign to open a bank more than two years ago.

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ABA Community Banking

MAY 4, 2022

At a Senate Judiciary Committee hearing, banking, credit card industry representatives and some lawmakers pushed back against proposals to expand interchange regulation to credit cards, arguing that the existing interchange fee limits imposed by the Durbin amendment more than a decade ago are hurting consumers. .

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Abrigo

JULY 1, 2021

As a community, we need to place more pressure on all currency providers (fiat and crypto) to embrace digital ethics and refuse to engage and/or do business with organizations that fail to protect innocent and vulnerable people. Instead, they purchase merchant cards with cash and use them to buy things they need. BSA Training.

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Independent Banker

JUNE 30, 2022

Remember, not that long ago, when a loan card was handwritten on a one-page form? But community banks have adapted to address that shift. So, while this next round of uncertainty will bring with it new challenges, the strength of the community bank business model remains intact. Rebeca Romero Rainey.

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Abrigo

FEBRUARY 8, 2022

Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. Stay up to date on regulations affecting NBFIs and other BSA trends. Below are 10 things NBFIs should do to ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators.

Compliance 195

Compliance Training Regulation Fraud 195

Abrigo

MAY 30, 2023

June 28, 2023, based on the Code of Federal Regulations and the March 30 publication). The final rule implements section 1071 of the Dodd-Frank Act by amending the Equal Credit Opportunity Act (ECOA), or Regulation B. Would you like to stay up to date on CFPB 1071 implementation? What is a covered transaction?

Compliance 195

Compliance Lending Data Regulation 195

PYMNTS

JUNE 18, 2020

The London-based trade group for Europe’s ePayments community is waiting for the European Banking Authority , the European Union (EU) banking regulator, to provide the 27-nation bloc with an update on Strong Customer Authentication (SCA). Credit cards typically contain a chip or require a PIN. “I’m

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Bank Innovation

SEPTEMBER 27, 2018

Bank Frick has grown its operations and staff while shrinking its physical footprint. In the last year, the number of employees has increased from about 60 to more than 130.

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PYMNTS

DECEMBER 8, 2020

In today’s top news, economists expect the economy to recover back to pre-pandemic levels by the end of 2021, and China’s banking watchdog warns of further Big Tech regulations. Capital One Halts BNPL Transactions On Its Credit Cards. Synctera Brings 'FinTech As A Service' To Community Banks. The company, which was valued at $4.8

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Abrigo

JUNE 13, 2022

The latest survey indicates that COVID-19 has impacted bank community engagement. However, banks continue their outreach to older customers, with 47% of respondents hosting community events. BSA Rules and Regulation. BSA Rules and Regulation. BSA Rules and Regulation. FinCEN guidance on recognizing elder fraud.

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