Sat.Apr 29, 2023 - Fri.May 05, 2023

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FTP – Another Bank Failure and Another Learning Opportunity

South State Correspondent

Last week, we published an article [ here ] discussing how fair value accounting for assets and liabilities may have prevented the failure of Silicon Valley Bank, even if sound risk mitigation practices were not resolutely embraced by management. We argued that valuing assets at historical value or measuring net interest margin (NIM) is not only a static view of cash flow but also backward-looking.

Lending 195
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Renewed volatility in regional bank stocks puts pressure on policymakers

American Banker

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Trending Sources

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Is the banking crisis coming to an end? As JP Morgan CEO notes, risks linger

TheGuardian

Jamie Dimon says this phase of bank collapses is over, but ‘other cracks in the system’ could still be revealed Fresh from the rescue of First Republic, the latest US regional bank to go under, JP Morgan’s chief executive, Jamie Dimon, has been talking down the threat of contagion. He claims the domino effect that started with Silicon Valley Bank’s collapse and was quickly followed by Signature Bank, Credit Suisse, and now First Republic, is coming to an end.

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Shift4 snags Focus POS for $45M

Payments Dive

The acquisition gives Shift4 ownership of a business with ties to 10,000 restaurant merchants.

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How to Avoid Getting "Ghosted": Top 3 Secrets to Staying Relevant with Gen Z

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.

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Banking leaders hope First Republic deal ends seven-week crisis

American Banker

More Trending

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FTP – Another Bank Failure and Another Learning Opportunity

South State Correspondent

Last week, we published an article [ here ] discussing how fair value accounting for assets and liabilities may have prevented the failure of Silicon Valley Bank, even if sound risk mitigation practices were not resolutely embraced by management. We argued that valuing assets at historical value or measuring net interest margin (NIM) is not only a static view of cash flow but also backward-looking.

Lending 195
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Walmart, Kroger eye instant payments

Payments Dive

The giant retailers eagerly await instant payment system possibilities, especially as an alternative to card payments, according to industry professionals who heard their representatives speak recently.

Payments 448
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Strategies for decreasing the mental health toll of the AML/CFT field

Abrigo

The importance of mental health in the AML/CFT field The AML/CFT profession can take a toll on mental health due to the responsibilities given to analysts and officers. Here are signs to look for and ways to destress. You might also like this upcoming webinar, "BSA officer’s mindset: A comprehensive look at your AML/CFT program." register now Takeaway 1 The AML/CFT field can be stressful, and it's easy for staff to ignore signs that their mental health is suffering.

Strategy 195
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North Dakota passes mortgage lender and servicer laws

CFPB Monitor

On April 12, North Dakota Governor Doug Burgum signed into law House Bill 1068 , which creates a new statutory licensing scheme in North Dakota covering residential mortgage loan servicing activities. This follows on the heels of the enactment last month of North Dakota Senate Bill 2090 , which overhauled North Dakota’s licensing requirements related to residential mortgage lending. .

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Navigating the Automation Landscape: Selecting Tools That Fit Your Business

Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.

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FTP – Another Bank Failure and Another Learning Opportunity

South State Correspondent

Last week, we published an article [ here ] discussing how fair value accounting for assets and liabilities may have prevented the failure of Silicon Valley Bank, even if sound risk mitigation practices were not resolutely embraced by management. We argued that valuing assets at historical value or measuring net interest margin (NIM) is not only a static view of cash flow but also backward-looking.

Lending 195
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CSI targets $1B in annual revenue

Payments Dive

The company that provides community banks with payments, fintech and other services is gunning for growth with new private equity capital.

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PacWest says in talks with potential partners after share plunge

BankInovation

PacWest Bancorp said core deposits have increased since March and confirmed it’s in talks with several potential investors, seeking to calm markets after a 60% stock rout that made it the new focal point of concern over the health of US regional lenders.

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CFPB and federal banking agencies issue joint statement on LIBOR transition; CFPB issues interim final rule on discontinuation of LIBOR

CFPB Monitor

Last week, the CFPB, together with the Federal Reserve Board (Board), FDIC, OCC, and NCUA, issued a “ Joint Statement on Completing the LIBOR Transition.” The agencies issued the statement to remind supervised institutions that LIBOR will be discontinued on June 30, 2023 and to reiterate their expectations that institutions with LIBOR exposure should complete their transition of remaining LIBOR contracts as soon as possible. .

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Case Study: First Mid Bank Fast-Tracks New Market Entry in Commercial Lending

Discover First Mid Bank's Expansion Success with Our Case Study! Discover how First Mid Bank & Trust fast-tracked market expansion through advanced automation and compliance solutions. This case study reveals their journey from facing challenges in Texas' complex legal landscape to achieving rapid market entry with GoDocs' innovative commercial closing platform.

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How war in Taiwan could mean the wheels come off the UK economy

TheGuardian

Microchips are an issue, of course, but China also makes the alloy wheels our cars mostly roll on. And what about TikTok? We look at ways a conflict might inflict yet more harm on our struggling businesses As the world struggles with the economic fallout from the Ukraine war, fears are mounting about a conflict that would be even more consequential: a Chinese invasion of Taiwan.

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Shopify cuts 20% of workforce

Payments Dive

The e-commerce platform’s cuts announced Thursday affect about 2,300 jobs, based on the company’s most recent headcount.

Company 400
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Is self-service killing cash?

ATM Marketplace

Is self-service technology killing cash? Or is cash still relevant? Read more to find out.

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SCOTUS to reexamine Chevron deference framework

CFPB Monitor

The U.S. Supreme Court has agreed to hear a case in which the petitioners are challenging the continued viability of the Chevro n framework that courts typically invoke when reviewing a federal agency’s interpretation of a statute. While Loper Bright Enterprises, et al. v. Raimondo involves a regulation of the National Marine Fisheries Service (NMFS), the Supreme Court’s decision could have significant potential implications for when courts should give deference to regulations issued by all fed

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Exploring the Liability Shift: A Comprehensive Guide to Fraud Loss Responsibility and Mitigation

Shifting liability for digital fraud losses represents a significant challenge for financial institutions and payment service providers. In response to the global surge in digital fraud, regulators are introducing policies that transfer the cost of fraud from defrauded customers to financial institutions. ThreatMark’s newly released white paper, "The Liability Shift: Understanding Fraud Losses Responsibility and Mitigation," provides an in-depth analysis of this shift, its implications, and stra

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Stock market reforms aim to revitalise City of London; US regional bank shares hit again – business live

TheGuardian

Rolling coverage of the latest economic and financial news, as FCA proposes shake-up that could expose investors to more risk Stock market reforms would ‘pass greater risk to investors’, FCA says FCA’s plan for stock market reform is both depressing and pragmatic Fed to raise interest rate again amid core inflation pressure Scott McCubbin, EY UKI IPO Leader, is urging the FCA to be careful about removing safeguards for shareholders, as it tries to make London a more attractive place to invest: M

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Andreessen Horowitz partners spy payments play

Payments Dive

Gaming, cannabis and telehealth are some of “high-risk” niches that would benefit from more vertical-specific payments software, two partners for the firm contend.

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Unleashing Your Inner Wednesday Addams: A Guide To Choosing The Right Credit Card

BankBazaar

Choosing the right Credit Card can be overwhelming with the sheer number of options currently available. But don’t worry, we’ve got you covered. In this blog post, we’ll walk you through the steps to choose the right Credit Card for you, with a little inspiration from Wednesday Addams. So, let’s get started! Credit Cards can be a useful financial tool when used in a responsible way.

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FDIC consent order with Cross River Bank indicates heightened scrutiny of bank-fintech partnerships

CFPB Monitor

The FDIC recently announced that it has entered into a Consent Order with Cross River Bank (CRB or Bank) to resolve FDIC charges that the Bank engaged in unsafe or unsound practices related to its fair lending compliance. (The Consent Order was issued in March 2023 but not made public until the end of last month.) .

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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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How and why ATMs help the underbanked

ATM Marketplace

Do bitcoin ATMs helped the unbanked and underbanked? And what role do regulations and cash usage play?

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Jack Henry preps clients for FedNow

Payments Dive

The financial technology provider is encouraging clients to be prepared to receive payments through FedNow.

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Climate protesters rework Spice Girls song to disrupt Barclays AGM

TheGuardian

Lyrics of Stop changed to ‘stop right now, no more oil and gas’ because of bank’s fossil fuel funding Business live – latest updates Barclays’ annual general meeting was disrupted by climate activists deploying Shakespeare-inspired quotes and reworked lyrics of a Spice Girls hit to condemn the bank’s role as one of Europe’s largest funders of fossil fuels.

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This week’s podcast episode: CFSA v. CFPB moves to U.S. Supreme Court: a closer look at the constitutional challenge to the Consumer Financial Protection Bureau’s funding, with special guest, GianCarlo Canaparo, Senior Legal Fellow in the Heritage Foundation’s Edwin Meese III Center for Legal and Judicial Studies

CFPB Monitor

The U.S. Supreme Court has agreed to review the Fifth Circuit decision in CFSA v. CFPB that held the CFPB’s funding violates the Appropriations Clause of the U.S. Constitution. After reviewing the history of the case from its initial filing to the Supreme Court’s grant of certiorari, we discuss the Fifth Circuit’s interpretation of the Appropriations Clause and the Second Circuit’s conflicting interpretation in its recent decision holding that the CFPB’s funding is constitutional and assess the

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The State of Automation in Financial Services 2024 Report

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