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Beyond compliance: Advantages of customer-centric KYC in 2023

Abrigo

Teaching staff these KYC tips to make clients feel more comfortable In 2023, KYC procedures must both support CDD compliance and make sure your institution is a welcoming place for all customers. You might also like this resource, "Customer due diligence checklist." Miss” and thus alienating nonbinary customers.

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Compliance changes to watch in 2023

Independent Banker

While the pace of bank regulatory changes has diminished from a few years ago, several issues will either become effective or likely develop in 2023. Community banks must continue to stay focused on regulatory discussions and remain nimble to respond to proposals and address requirements quickly and accurately. Quick Stat.

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Risk of Derivatives – The Fall of an Index

South State Correspondent

BSBY was not well received by US regulators from its inception, but the market eventually embraced SOFR over BSBY. We published various articles comparing community bank alternatives to LIBOR (such as SOFR, Ameribor, Fed Funds, and Prime). Historically, community banks have hesitated to adopt derivatives for several reasons.

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Community Bank CEO Outlook 2022: Your priorities for the new year

Independent Banker

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?

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Wyoming community bank winds down fintech program

American Banker

The Federal Reserve issued an enforcement action against Mode Eleven Bancorp, the holding company for Summit National Bank, which engages in banking-as-a-service.

Wyoming 74
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Regulation and Compliance: Ready for Review

Independent Banker

This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. The better prepared, the less likely they are to run afoul of the continually shifting regulations. Be aware of existing or emerging risk concerns.

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Cutting the red tape for community banks

Abrigo

Many community banks see this as a welcomed move towards offering smaller institutions some relief from the regulatory pressures of their larger, national counterparts. The article allowed banking executives to weigh in on the subject. For smaller institutions, compliance can be especially costly.