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GAO: Dodd-Frank beginning to impact community banks and credit unions

Abrigo

Government Accountability Office (GAO), community banks and credit unions are starting feel the impact of the Dodd-Frank Wall Street Reform Act. The GAO report, released on December 30th, examined nine Dodd-Frank rules that became effective as of October 2015 for impact on community banks and credit unions.

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Pulling Off Inside Jobs

Independent Banker

Saving money by conducting inside risk management and compliance reviews. As a group, community banks spend substantial funds hiring outside consultants to help with various management functions, and a substantial share of dollars are spent to help oversee their risk management and compliance activities.

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Education: By Popular Demand

Independent Banker

These in-depth and timely professional development programs are designed exclusively for community bankers and led by nationally recognized industry experts who know the issues community banks grapple with. Bank Director Program. For more information, visit www.icba.org/education. 11–14, 2016, in Denver.

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Powering-Up Tools: Your Education Resources

Independent Banker

Lindsay LaNore is responsible for ICBA’s new Community Banker University. She leads a team that works to identify, develop and offer courses that meet community banks’ educational needs. Her role is to make certain that relevant education is provided in a responsive manner to all community bank members. “I

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Ensure your community bank is inclusive

Independent Banker

If community banks put in the effort to foster a sense of belonging, the result is a stronger workplace culture, greater employee loyalty and, ultimately, a better experience for customers. So, how can community banks build truly inclusive cultures, where everyone feels like they belong? Misti Stanton, Mercantile Bank.

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Wading Through the Waters

Independent Banker

At first blush, this new general rule might provide for considerable fear among compliance and lending personnel. However, calm can be restored for some banks as the final rule implements several exceptions to the general rule. There is an exception that will be key for many community banks to understand.

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37 Corporate Innovation Labs In Finance

CB Insights

Working with FCAT, the charity searched for third-party vendors and iterated testing on compliance with legal and regulatory requirements to be able to accept Bitcoin. This brainchild from the Lab offers a way to modernize the traditional retail banking experience. Deutsche Bank — Deutsche Bank Labs. Founded: 2016.