Sat.Jan 06, 2024 - Fri.Jan 12, 2024

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Loan Hedging for Community Banks in 2024

South State Correspondent

Community banks’ use of swaps (banks’ primary tool to hedge interest rate risk on loans) has increased substantially over the last ten years. The market expects the current inverted yield curve to remain through much of 2024 (based on long-term interest rates and the expected rate cuts in 2024). Meanwhile, community banks face net interest margin (NIM) and fee income pressure.

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A roadmap for bank leaders to build community trust

ABA Community Banking

More than ever, we must take proactive steps to ensure we are empowering our customers to overcome economic crises and access pathways to prosperity. The post A roadmap for bank leaders to build community trust appeared first on ABA Banking Journal.

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How Community Banks Can Entice and Recruit Software Engineers

The Financial Brand

This article How Community Banks Can Entice and Recruit Software Engineers appeared first on The Financial Brand. Smaller financial institutions should invest in worker well-being and partner with universities to attract more tech talent. This article How Community Banks Can Entice and Recruit Software Engineers appeared first on The Financial Brand.

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Where have all the bankers (in Congress) gone?

American Banker

With the retirement of Rep. Blaine Luetkemeyer, R-Mo., the number of Congressional representatives with direct banking experience is becoming increasingly rare.

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Why is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

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Podcast: Gen AI can provide FIs up to 90% automation

BankInovation

Financial institutions can look to generative AI to reach up to 90% automation, WorkFusion Chief Executive Adam Famularo tells Bank Automation News on this episode of “The Buzz” podcast.

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Why credit unions aren't automatically picking FedNow

American Banker

The Federal Reserve would seem to offer a compelling alternative to the bank-backed RTP network, but some credit unions — which typically see bank systems as competitive threats — are making more nuanced choices.

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Bank Value: Here is a Better Way to Calculate and Manage

South State Correspondent

Ask a banker about the value of their bank, and they will either talk about some derivation of book value or earnings multiple. While these bankers are not wrong, they are not exactly right. While both valuation methods provide everyone with a nice, tidy sum of value, the data could be more actionable. You might find out that your low cost of funds or higher-than-average net interest margin likely drives the bulk of your bank’s value, but then what do you do?

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Your SMB Banking Strategy How-To Guide

Jack Henry

Everything You Need to Know About Growing Small Business Banking If expanding your services to the small- to midsize-business niche is on your horizon, you’re in good company: 65% of CEOs surveyed in Jack Henry’s 2023 Strategic Priorities Benchmark Study said they plan to expand SBM services in the coming years.

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The year's first credit union purchase of a bank is a big one

American Banker

Hudson Valley Credit Union, which has $6.9 billion of assets, is buying Catskill Hudson Bancorp, which has $593 million of assets — more than any bank acquired by a credit union last year.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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X plans payments launch for this year

Payments Dive

“I would be surprised if it takes longer than the middle of [2024] to roll out payments,” X owner Elon Musk said during a conversation last month with Ark Invest CEO Cathie Wood.

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CFPB report identifies challenges faced by borrowers in resumption of student loan payments

CFPB Monitor

The Consumer Financial Protection Bureau highlighted its observations of the resumption of federal student loan payments by consumers after more than three years of a payment moratorium due to COVID-19 in a report released on January 5, 2024. The report, titled “ Issue Spotlight: Federal Student Loan Return to Repayment ,” highlights several issues it maintains are confronting consumers, including extended call hold times, processing delays in income-driven repayment applications, and inaccurate

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ATM crime: How to prevent it

ATM Marketplace

Skimming, vandalism and physical attacks on ATMs, armored car and cash-in-transit (CIT) personnel, ATM technicians and other ATM crimes are all on the rise throughout the U.S. Here's how to prevent it.

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Caught in the Net: Protect Against Phishing Attempts

Jack Henry

Avoid phishing scams with a secure messaging and communication platform. Discover how Banno Business™ can help your financial institution.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.

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Visa cracks down on surcharge programs

Payments Dive

The card network company is boosting efforts to enforce surcharge rules, with non-compliance potentially resulting in fines up to $1 million, according to one card processor.

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U.S. Senate Fails to Override Veto of Legislation Rejecting CFPB Section 1071 Small Business Lending Rule

CFPB Monitor

As previously reported , in late December 2023 President Biden vetoed legislation adopted by the U.S. House of Representatives and U.S. Senate under the Congressional Review Act to override the CFPB’s final Section 1071 small business lending rule (1071 Rule). The vote in the House was 221-202 and the vote in the Senate was 53-44.

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The world is as you are

Realwired Appraisal Management Blog

The world isn’t as it is. The world is as you are. Our valuation industry needs a new roadmap, a new path. More connections, more optimism, more enthusiasm to improve. It’s on you. It’s on me. Let’s get to work.

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Morgan Stanley and Allen & Overy helping oligarch’s efforts to seize Russian oil firm

TheGuardian

Exclusive: Sergey Kolesnikov has supplied building materials to Russian military and for use in occupied Ukraine An oligarch who has supplied building materials to the Russian military machine and for construction in occupied areas of Ukraine is being assisted by Morgan Stanley and Allen & Overy in his attempt to gain control of a huge Russian oil asset, the Guardian can reveal.

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Addressing Top Enterprise Challenges in Generative AI with DataRobot

The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.

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Fiserv seeks special purpose bank charter

Payments Dive

The designation would allow the payment processor to own transactions from end-to-end, removing the need for a bank partner.

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Auto dealer trade groups challenge FTC CARS Rule in Fifth Circuit

CFPB Monitor

On January 5, 2024, two trade groups representing auto dealers filed a petition for review challenging the Federal Trade Commission’s (“FTC”) new Combating Auto Retail Scams Rule (“CARS Rule”). In the petition , the National Automobile Dealers Association (“NADA”) and Texas Automobile Dealers Association (“TADA”) ask the United States Court of Appeals for the Fifth Circuit to vacate or modify the rule and stay its enforcement pending resolution of the petition.

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Five Characteristics of the Future Smarter Bank Organization

Gonzobanker

Tomorrow’s Smarter Bank leaders will cultivate managed chaos, inspire creative thinking and encourage results-driven action. “The only thing that ever sat its way to success is a hen.” – Sarah Brown For some time, Cornerstone has been talking about the “Smarter Bank,” focusing on how our clients must use new skills, knowledge, technology and information to complete the long and tough transformation to the future delivery model.

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Bank of England may cut interest rate sooner after surprise inflation forecast

TheGuardian

Forecasters at three leading institutions suggest inflation rate will halve to 2% by April The Bank of England may be forced to bring forward the date of its first interest rate cut after three leading forecasters issued a surprise update suggesting the inflation rate will halve to 2% by April. The Oxford Economics consultancy and analysts at Investec and Deutsche Bank have reassessed their outlook for inflation in 2024 and concluded that the consumer prices index (CPI), which dropped to 3.9% in

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

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Stablecoin issuer Circle files for IPO

Payments Dive

Circle, which issues the USDC stablecoin, has filed confidential paperwork with the Securities and Exchange Commission — one day after the SEC's approval of 11 spot bitcoin exchange-traded funds.

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FTC Agrees to Settlement with Lead Generator Banning Telemarketing and Robocall Activities

CFPB Monitor

The Federal Trade Commission (FTC) recently announced a proposed order settling a Complaint against California-based lead generator Response Tree LLC and its president, Derek Doherty, banning them from making or assisting anyone in making robocalls or calls to phone numbers on the FTC’s Do Not Call (DNC) Registry. The proposed order helps settle pending FTC charges that Response Tree and its president operated more than fifty (50) websites designed to trick consumers into providing personal info

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Regulators will take comments on Basel III endgame impact analysis

American Banker

Federal Reserve Vice Chair for Supervision Michael Barr said feedback received will be incorporated into the final version of the capital reform rule.

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UK car finance: ‘millions of drivers could get payout’ as watchdog investigates

TheGuardian

FCA to examine whether consumers have been charged inflated loan rates on new and secondhand cars What is the FCA looking into and will people get money back? Millions of drivers could be in line for a payout, it has been claimed, after the UK financial watchdog opened an investigation into whether consumers had been unfairly charged inflated prices for loans on new and secondhand cars.

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Finding “The One:” The Ultimate Guide to Selecting Financial Software

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

As finance and accounting practitioners, you are expected to complete daily operations as well as to manage next generation tools and resources to support a business that is growing in complexity. Having the right software can be critical in juggling and meeting those high expectations. The path to the right software, however, is paved with challenging decisions.