American Banker
FEBRUARY 24, 2024
Surprise overdraft fees and charges incurred by consumers who cash bad checks likely violate the law, state Attorney General Rob Bonta said. His message was especially notable because it was aimed at smaller institutions that have gotten less scrutiny from Washington.
The Financial Brand
FEBRUARY 28, 2024
This article Unlocking Growth: How Consolidated Analytics Can Empower Community Banks appeared first on The Financial Brand. Former community bank CFO Kim Snyder shares how consolidated analytics can help small institutions transform fragmented data into strategic assets. This article Unlocking Growth: How Consolidated Analytics Can Empower Community Banks appeared first on The Financial Brand.
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TheGuardian
FEBRUARY 29, 2024
Chief executive of embattled bank steps down after company reports ‘material weaknesses’ in internal controls New York Community Bancorp (NYCB) came under fresh pressure on Wall Street after reporting “material weaknesses” in its internal controls, booking a $2.4bn hit to earnings and replacing its chief executive. Shares in the bank tumbled 19% in after-hours trading on Thursday, extending its extraordinary rout on the stock market.
American Banker
FEBRUARY 26, 2024
The $6.8 billion-asset institution partnered with FusionIQ to launch digitally advised and self-directed investment platforms as part of a push to attract and retain younger generations of consumers.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
CFPB Monitor
FEBRUARY 27, 2024
On February 22, 2024, California Attorney General Rob Bonta issued letters (the “AG Letter”) to California’s 197 state-chartered banks and credit unions warning that overdraft and returned deposited item fees may violate California’s Unfair Competition Law (UCL) and the federal Consumer Financial Protection Act (CFPA). The AG Letter encourages the institutions to review their practices and policies regarding: “(1) surprise overdraft fees, which are assessed even when a consumer cannot reasonably
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
BankInovation
FEBRUARY 28, 2024
LONDON — Will embedded finance technology usher in a new era of banking, or is the impact of the technology overblown? Bank executives from ClearBank, Deutsche Bank and Raiffeisen Digital Bank weighed in at FinovateEurope this week. ClearBank Head of Embedded Banking Paul Staples at $3.
Perficient
FEBRUARY 28, 2024
Adobe Summit 2024 is right around the corner, and we’re excited to sit down with the executive director of marketing applications at Morgan Stanley Dorothy Joseph on March 27 at 11:30 A.M PST at The Grand Lux Café in The Palazzo. Perficient’s Jay Jackson, director of Adobe Digital Marketing and CDP, will host a fireside chat with Joseph about the global financial services leader’s successful journey to consolidate and optimize the Adobe Experience Platform.
South State Correspondent
FEBRUARY 27, 2024
Community bankers need to practice realistic loan pricing discipline. However, we need to understand the meaning of pricing discipline and its effect on community bank performance. In this article, we would like to define loan pricing discipline and cover bid, why it matters, and demonstrate how most community banks currently are not using loan pricing discipline.
South State Correspondent
FEBRUARY 29, 2024
Since our last update on pricing and credit HERE , commercial loan pricing trends for the first quarter of 2024 continue to be driven by the perceived increase in credit risk, tighter credit supply and banks’ need for wider margins. This article provides an update on pricing trends driven by our Loan Command aggregated community bank data and highlights some commercial loan insights that can improve bank performance.
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
Payments Dive
FEBRUARY 28, 2024
The merger at least raises the possibility that there won’t be two card networks that dominate the future of tokenized transactions, writes one fintech lawyer.
Perficient
FEBRUARY 28, 2024
With new risks, shifting market dynamics, and the unstoppable march of technology, the insurance industry finds itself at a crossroads. The imperative for transformation has never been clearer, and this is highlighted in Forrester’s report, The Future Of Insurance. Embracing Change The report states, “The business of insurance is in a heightened state of transformation…,” and insurance leaders must proactively “…change their business models, products, and processes over the com
CFPB Monitor
FEBRUARY 27, 2024
The U.S. Department of Veterans Affairs (VA) recently issued Circular 26-23-10, Change 1 , Circular 26-24-5 and an Exhibit to address fees that may be imposed in connection with the assumption of a VA-guaranteed home loan. The VA advises in the Circulars that the holder or servicer of a VA-guaranteed home loan with automatic authority may charge an assumption processing fee not to exceed $300.
BankInovation
FEBRUARY 26, 2024
BNY Mellon has appointed Julie Gerdeman as its global head of data and analytics. Gerdeman will be responsible for managing software and data for nearly $47 trillion of assets managed by BNY, according to a Feb. 20 release.
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
Payments Dive
FEBRUARY 26, 2024
The process can make for faster, easier experiences, but it needs regular attention and helpful associates to thrive, consultants said.
Perficient
FEBRUARY 29, 2024
This blog was co-authored by Perficient’s Chief Strategist and banking expert: Scott Albahary A slowing global economy, coupled with a divergent economic landscape, poses challenges for the banking industry in 2024. Driven by technological advancements, regulatory changes, and shifting consumer preferences, the banking industry must evolve and respond accordingly.
CFPB Monitor
FEBRUARY 29, 2024
Our special guest is Brad Blower, Principal and Founder of Inclusive-Partners LLC, and author of a recent blog post titled “The CFPB Has An Opportunity to Greatly Advance the Ethical and Non-Discriminatory Use of AI in Financial Services and Should Take It.” We first discuss the lack of clear guidance from the CFPB on the non-discriminatory use of AI and the possible reasons for the CFPB’s apparent reticence to provide more specific guidance. .
BankInovation
FEBRUARY 26, 2024
Terrence Thomas, executive vice president and chief information officer at First Bank, will speak at Bank Automation Summit U.S. 2024 on Monday, March 18, at 4 p.m. CT.
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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.
Payments Dive
MARCH 1, 2024
Beyond expansion to the U.K., the BNPL provider may seek to plant a flag where its large partners such as Amazon and Shopify have a presence, said Affirm’s Chief Revenue Officer Wayne Pommen.
Perficient
FEBRUARY 27, 2024
This blog was co-authored by Perficient’s Insurance Principal and expert: Brian Bell As we step into 2024, the insurance industry faces significant transformations driven by technological advancements and evolving customer expectations. Let’s explore the key trends reshaping the insurance landscape and how they are set to redefine the industry’s future.
CFPB Monitor
FEBRUARY 28, 2024
The FTC published guidance warning companies that “[i]t may be unfair or deceptive for a company to adopt more permissive data practices—for example, to start sharing consumers’ data with third parties or using that data for artificial intelligence (AI) training—and only inform consumers of this change through a surreptitious, retroactive amendment to its terms of service or privacy policy.” .
TheGuardian
FEBRUARY 26, 2024
City grandee co-founded a number of firms and was also involved in the arts and philanthropy Lord Jacob Rothschild, the financier and scion of the Rothschild banking family, has died aged 87. The City grandee started his career at the family bank NM Rothschild & Sons in 1963 before co-founding a number of firms including J Rothschild Assurance Group, now St James’s Place, with Sir Mark Weinberg in 1980.
Advertiser: Data Robot
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.
Payments Dive
FEBRUARY 27, 2024
Can the dollar’s reign as the world’s reserve currency persist? This Fed official makes a strong case, but digital doubts may remain.
ATM Marketplace
FEBRUARY 28, 2024
Nominations are officially open for the 2024 Bank Customer Experience Awards, which will be presented at the jointly held Bank Customer Experience Summit and Interactive Customer Experience Summit from Sept. 9 to 11 in Charlotte, North Carolina.
CFPB Monitor
FEBRUARY 27, 2024
The U.S. Department of Housing and Urban Development (HUD) recently announced a Payment Supplement loss mitigation program for Federal Housing Administration (FHA) insured Title 2 mortgage loans, the details of which are set forth in Mortgagee Letter 2024-02. Mortgage servicers may begin implementing the Payment Supplement on May 1, 2024, but must implement the solution for all eligible borrowers by January 1, 2025.
Jack Henry
FEBRUARY 26, 2024
In the race to adapt and thrive in today's disruptive financial services landscape, the speed and direction of your technology modernization strategy and efforts can make all the difference.
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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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