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Community bank, fintech team up to serve gig-economy workers

American Banker

Somerset Trust in rural Pennsylvania has partnered with RoamHR, a financial platform that assists the self-employed, to add tax-withholding help for contract and temporary workers to the bank's services.

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COVID Retail Update: Mall Group Asks For Bailout

PYMNTS

s Hudson Yards in New York City, Triple Five Group’s Mall of America in Minnesota and the King of Prussia in Pennsylvania. generates nearly $400 billion of state and local taxes, McGee said. This is our time to focus on our community and do our part to stop COVID-19 from spreading.”. The shopping center industry in the U.S.

Retail 161
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Remembering 9/11 – A Pivotal Day for BSA/AML Professionals

Abrigo

The first plane hitting the Twin Towers, the second plane, the Pentagon, and then our heroes on Flight 93 crashing into a Pennsylvania field. BSA was intended to detect illicit activity through cash and monetary instruments to catch tax evaders using secret foreign bank accounts. Stay up-to-date on the latest FinCEN Priorities.

Training 195
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SIFI Bank Ticked Me Off and What Are You Going To Do About It Mr./Ms. Community Banker?

Jeff For Banks

I had year-end tax planning, charitable contributions, and an upcoming holiday trip to fund. These rules that are hatched by bureaucrats and implemented over large geographies are the very reason community banks should be beating the crap out of my bank and other SIFI banks. My community bank was acquired by it.

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Widening Borrower Protection’s Scope To SMBs

PYMNTS

As online lending platforms proliferate among the SMB borrowing community, however, experts warn that a lack of regulation means these companies rarely publicly reveal interest rates and fees. On top of that, MacKrell said the government is not sufficiently enlightening the small business community about the risks of online lenders.

Lending 136
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Banks Versus Credit Unions: Much Ado About Nothing

Jeff For Banks

Credit Unions don''t pay taxes! Take my home state, Pennsylvania, for example. Because when I look at the above table, it''s clear where a community bank''s strategic focus should be. They''re trying to steal our business customers! I often quote Sun Tzu from his over 2,000 year old book, The Art of War. I believe her.

Resources 111
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How About Profits in the Branch of the Future?

Jeff For Banks

In the chart below, derived from The Kafafian Group’s (TKG) peer database of hundreds of community bank branches, we see that the revenue generated from deposit spreads, asset spreads (typically consumer loans), and fees (typically deposit fees) as a percent of branch deposits averaged 2.08% for commercial banks and 1.88% for thrifts during 2014.