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3 Ways Financial Institutions Can Step Up for Underserved Communities

Perficient

Greenwood operates completely online, but they partner with FDIC-insured banks and are part of a global ATM network that allows members to use more than 100,000 ATMs fee-free when they need to withdraw and deposit physical cash and checks.

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Pulling Off Inside Jobs

Independent Banker

Grovetta Gardineer, a deputy comptroller for the Office of the Comptroller of the Currency, points out that community banks are best placed to understand their own individual risk tolerances and overall operational complexity. FDIC Article. That aspect can be done as part of internal audit,” says Eberley. ICBA Member Poll.

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Building Financially Empowered Youth; Our Future Depends on Them

Filene

A 2013 FDIC National Survey of Unbanked and Underbanked Households showed that more than 30% of household members under the age of 24 are unbanked—significantly higher than older generations. Allowing youth to run the operations to give them business experience. Providing youth with their own space to learn about money.

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Reducing costs of AML while still appeasing regulators

Insights on Business

Reducing costs but appeasing regulators seems like an oxymoron, yet, many AML compliance and operations leaders are being asked to do just that. Even better, regulators have recently begun encouraging the application of these techniques. Federal encouragement starts now.