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New York Department of Financial Services settles enforcement action with community bank over auto dealer fair lending allegations

CFPB Monitor

Following up on a threat it made back in 2018 , the New York State Department of Financial Services (DFS) announced on October 6, 2022 that it entered into a consent order with Rhinebeck Bank (“Rhinebeck”) to settle discrimination claims involving discretionary dealer markups on retail installment contracts with minority borrowers.

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Basics and Niche Markets

Independent Banker

Goodfield State Bank, chartered in 1920, has decided that sticking to the basics and focusing on niche markets will provide steady asset growth and a reasonable return to our shareholders. There is no secret sauce to our community bank’s recent strong performance. Retail locations: Three. Chad Martin.

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Spilling Business Beans

Independent Banker

Community banks are vital providers of small-business credit because of their extensive local market knowledge and deep customer relationships. In Illinois, a loan participation plan by a community bank “insourced” jobs to the local area from overseas. By Jessica Milano. million of their $5.1

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Talking in a Digital World

Independent Banker

Customer contact centers are reshaping retail service for the technology age. Increasingly, more digitally connected consumers are saying yes to that question with their community bank. Some even assume their bank will interact with them however and whenever they want. Bob Meara, retail banking expert.

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Getting Mobile Ready

Independent Banker

Big-brand megabanks, the Visa and MasterCard networks, and big-box merchants had signed up to become partners with Apple’s universal retail smartphone app that uses Near Field Communication and tokenization technologies. So where do ballyhooed mobile banking and payments developments among the biggest players leave community banks?

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Function Over Flash

Independent Banker

Certain mobile functions and features are essential to the success of a community bank’s mobile banking offerings. Newfangled mobile capabilities could help community banks stand apart from their competitors. Funds transfer (within same bank). If their bank can’t do this, what else can’t they do?”

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Function Over Flash

Independent Banker

Certain mobile functions and features are essential to the success of a community bank’s mobile banking offerings. Newfangled mobile capabilities could help community banks stand apart from their competitors. Funds transfer (within same bank). If their bank can’t do this, what else can’t they do?”