CFPB Monitor

AUGUST 31, 2021

The OCC, FDIC, and Federal Reserve Board have issued a guide that is intended to assist community banks in conducting due diligence when considering relationships with financial technology (fintech) companies (Guide). Banks are instructed to reference relevant guidance from the agencies that is listed in a footnote.

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Abrigo

FEBRUARY 23, 2023

Meanwhile, leaders at small banks recognize that their institutions play a vital role in helping community businesses and individuals not only weather uncertainty but also thrive. 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

SEPTEMBER 25, 2014

This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. Regulators and industry consultants agree that community banks are generally doing a great job handling their regulatory oversight and requirements.

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Compliance Regulation Community Bank Community 101

American Banker

FEBRUARY 13, 2020

Congress should further expand a tiered regulatory system to help community banks better serve local neighborhoods.

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ABA Community Banking

JULY 29, 2022

As a former engineer, Jennifer Schmidt brings an understanding of systems and integration to her work as a community bank chief compliance officer. The post Podcast: Engineering a framework for enterprise risk appeared first on ABA Banking Journal.

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Community Bank Compliance Community System 52

Abrigo

MARCH 2, 2023

But as Southwest’s scheduling system crisis over the holidays showed banking and all other industries, technology shortcomings create enormous costs in the short-term and in the future. The company has estimated that the impact of its system meltdown during bad weather will cost it as much as $825 million.

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Technology Lending Community Software 195

Banking Exchange

APRIL 8, 2020

The government’s $349 billion small business support package is facing issues already, according to reports Business Credit Bank Performance The Economy Human Resources Feature Management Financial Trends Compliance People Performance Customers Core Systems Online Compliance Management Community Banking Feature3.

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Community Bank Compliance Resources Community 78

Abrigo

DECEMBER 17, 2021

For banks and credit unions, this often means a deep understanding of regulations and compliance and adhering to the institution's risk management standards. In the Federal Reserve report, bankers emphasized the importance of eliminating siloed processes and ensuring that information can flow seamlessly across systems.

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Independent Banker

AUGUST 31, 2021

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.

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Independent Banker

JANUARY 31, 2022

These community banks are working to fix that through microlending programs. Now, some community banks are launching microlending programs to redress the balance. There is a lot of time and energy spent, not only making sure that credit decisions are appropriate, but also managing the compliance aspect,” Maher says.

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CFPB Monitor

SEPTEMBER 14, 2021

Last week, the Federal Reserve Board published a paper on partnerships between community banks and fintech companies, “Community Bank Access to Innovation through Partnerships.” Customer-oriented partnerships in which a community bank engages a fintech to enhance various customer-facing aspects of its business (e.g.,

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Independent Banker

NOVEMBER 30, 2022

Stacy Watkins (left), president and CEO, and Hilary Nelson (right), senior vice president and director of operations and compliance, at the Las Vegas Strip. When it comes to supporting outliers in the Las Vegas community, Lexicon Bank knows how to play its cards. Name: Lexicon Bank. Photo by Sammy Tillery. Assets: $237.6

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Las Vegas Community Bank Community Wisconsin 129

South State Correspondent

OCTOBER 26, 2023

The discussions were healthier, more compliance-focused, and with little expectations that banks were going to offer crypto to their customers any time soon. Sunday Programming: consisted of a federal lobbying track, AI Summit, Small Business, Fraud, running a fintech, cannabis banking, and modernizing the banking core system.

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Conference Las Vegas Fraud Case Study 221

Independent Banker

SEPTEMBER 30, 2021

Changing customer banking habits means it’s more important than ever for community banks to use every tool at their disposal. Community banks may have longstanding relationships with their core vendors, but that doesn’t always mean they keep up to date on all the latest features and functionalities. “But

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Community Bank Community Milwaukee Jacksonville 91

Independent Banker

SEPTEMBER 25, 2014

A community bank’s practical guide to compliance cost control. When it comes to reducing compliance costs, recommendations typically fall into complicated territory. Complicated or not, one thing is certain: Community banks can’t afford to skimp on their compliance efforts. By Jim Kisch.

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Community Bank Compliance Community Resources 105

American Banker

FEBRUARY 14, 2024

Federal Reserve Vice Chair for Supervision Michael Barr Wednesday downplayed the significance of recent turmoil at New York Community Bank, noting that liquidity and stability in the banking system is in "much better shape than it was last spring."

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New York Community Bank Community System 51

PYMNTS

SEPTEMBER 19, 2019

By joining the network, Cross River will be able to give its clients the ability to send, settle and clear payments instantly, along with messaging capabilities, while ensuring compliance. Aiming to simplify the FinTech ecosphere for its clients, Cross River has built a “plumbing” system on top of traditional payment systems.

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Payments Fintech Community Bank Compliance 173

Abrigo

APRIL 7, 2022

Community banks with small asset sizes might merge with other small institutions whose branches complement one another, and larger banks may acquire smaller ones whose services fit their offerings. When two financial institutions come together, the AML and fraud compliance functions will need to be consolidated.

Compliance 195

Compliance Policies Fraud Analysis 195

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

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Data How To Community Bank California 91

Independent Banker

JANUARY 31, 2022

The FedNow Service is launching in early 2023, giving community banks about a year to plan. Here’s how community bankers, payments experts and fintech vendors suggest using the time to prepare. With less than a year until the scheduled launch of the FedNow Service, community banks are still awaiting updates on specifics.

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Community Bank Community Resources Fraud 91

PYMNTS

SEPTEMBER 25, 2019

Innovation can be a blanket term in the banking world. Is artificial intelligence (AI) for anti-money laundering (AML) compliance innovation? The study categorized financial institutions into four groups: Core/IT-enabled: FIs that believe they are able to effectively leverage both of these systems to support innovation.

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Innovation System Compliance Payments 171

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. Mistakes, system glitches and fraud happen. State laws or banking rules may also come into play. Quick Stat.

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Community Bank Regulation Community Training 91

PYMNTS

APRIL 8, 2020

And even as financial institutions began to smooth out the process, the initiative hit another snag Monday when reports emerged that the SBA’s computer systems had crashed. With a focus on compliance, Wolters Kluwer revealed its new solution to enable financial institutions issue PPP loans to small businesses. Wolters Kluwer.

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Lending Fintech America Technology 245

Abrigo

DECEMBER 2, 2021

Indeed, deposit levels to transaction accounts among community banks exploded 74% to $896.5 31, 2019, and June 3, 2021, according to the Community Banking in the 21st Century report. It's "business as usual" as far as expectations for compliance staff to remain alert for illicit financial activity. Learn More.

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Conference San Antonio Lending Fraud 195

PYMNTS

JULY 16, 2019

Banks and credit unions looking for safer and more efficient digital and mobile services for debit and credit cards can now turn to the cloud. Ondot said its 4,000 banks and credit unions will see faster and easier upgrades while also gaining access to the latest innovations and functionality.

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Innovation Compliance User Experience Cards 128

Independent Banker

MARCH 31, 2022

Faced with several transitional issues, here’s how these community banks gained support from their new providers to adapt to the change. Two years before changing core processors, Asian Bank began conducting weekly meetings to brainstorm attributes its dream core provider would possess. When Del Norte Bank in Del Norte, Colo.,

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How To Community Bank Community System 91

Independent Banker

OCTOBER 31, 2021

“I’m not sure how we would have processed all of the PPP loans and everything else in the last 18 months without some of the technology that we have implemented,” says Chris Jundt, senior vice president and chief lending officer at First State Bank & Trust. Northpointe Bank in Grand Rapids, Mich., Cashing in on efficiencies.

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Lending Community Bank Community North Dakota 91

Independent Banker

JANUARY 31, 2022

Ken Finley, president of Johnson City Bank, in downtown Johnson City with Shannon Sultemeier, executive vice president (left); and Brenda Haynes, vice president/cashier (right). Here’s how four community banks are thriving in this environment. Many of the bank’s clients share that conservatism. Photo by Dennis Burnett.

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Texas San Antonio Community Bank Community 182

South State Correspondent

JANUARY 4, 2023

As such, every bank should have one to three major projects that radically reduce their cost structure and allows for greater scale. In addition to these technology-oriented improvements, there are also a variety of process improvements that many banks can make that are cost-free. of the banking market, according to Statista Research.

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Community Bank Capital Training Lending 195

Independent Banker

AUGUST 31, 2016

E-signature is a hot technology now in the industry; many community banks are adopting the technology to keep pace with consumer demographic preferences. If your community bank hasn’t already looked into using e-signatures, now is a good time to start. in the required locations.

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Community Bank Compliance Minneapolis Community 72

Independent Banker

JUNE 30, 2022

Effects of the pandemic and other factors creating unpredictability have changed how community banks approach their credit and lending operations. Bankers and industry observers have several recommendations for how community banks can come up with risk ratings and rankings that foster safe growth in a volatile economic climate.

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Management Community Bank Community Regulation 103

Independent Banker

JULY 29, 2016

Big Savings—ICBA’s Dan Clancy and Travelers’ Laura Lundin hold a big check representing the $3 million dividend paid this year to community banking participating in the ICBA-Travelers property-and-casualty insurance Preferred Service Provider program. ICBA Bancard & TCM Bank, N.A. Compliance and Operations.

Community Bank 70

Community Bank Community Compliance Lending 70

Abrigo

APRIL 12, 2016

Nevertheless, the Supervisory Insights publication “incorporates more recent guidance and technical resources, including significant bank-governance insights and experiences that have been gained since 1988.” The system of goals, objectives, policies, controls, values and behaviors present in an organization that influence risk decisions.

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Management FDIC Risk Management Community Bank 150

Independent Banker

SEPTEMBER 30, 2021

The number of money mule schemes affecting community banks is increasing, in part because of the pandemic. Here’s how two community banks are protecting their customers from falling victim to fraud. More and more community banks are having to deal with money mule schemes targeting unsuspecting customers.

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Community Bank Fraud Community Training 91

Independent Banker

OCTOBER 31, 2021

The CARES Act extended the CECL implementation deadline for many larger community banks until the end of the COVID-19 pandemic. Community bankers tell us that while the extension is welcome, they’re already down the road to implementation. ICBA tells FASB CECL isn’t feasible for community banks. By Stephanie Vozza.

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Community Bank Community Software New York City 91

Independent Banker

AUGUST 25, 2016

Audit to check and balance the compliance management process. While the saying irritated the Russians to distraction, the phrase can be a useful reminder for the essential role that effective auditing plays in the compliance process. A bank’s CMS may look impressive and may appear comprehensive on the surface, but is it effective?

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Compliance Training Community Bank Regulation 70

Independent Banker

SEPTEMBER 21, 2015

Tips on how to keep up with never-ending Bank Secrecy Act compliance. It may seem lately that complying with Bank Secrecy Act and anti-money laundering rules is a Sisyphean task. Of course, keeping up with those four tasks for managing BSA compliance are enough to keep a team of bankers busy. By Karen Epper Hoffman.

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