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Compliance changes to watch in 2023

Independent Banker

The FDIC approved a final rule to increase initial base deposit insurance assessment rates by 2 basis points until the Deposit Insurance Fund (DIF) achieves the FDIC’s long-term goal of a reserve ratio of 2% of insured deposits. The FDIC’s long-term goal for the reserve ratio of insured deposits. Source: FDIC.

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Digital Disruption

Independent Banker

One of the biggest problems with FinTech companies is that many of them exploit existing banking infrastructure—including debit, credit and ACH networks—and access traditional checking and saving accounts, yet face minimal regulation when it comes to data security and privacy. Kelly Pike is a freelance writer in Virginia.

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The Thinker

Independent Banker

FDIC Advisory Committee on Community Banking, member. One officer at The Peoples Bank has served as the event’s treasurer for 20 years, shepherding the picnic funds and keeping them secure. Kelly Pike is a freelance writer in Virginia. ICBA Services Network Board of Directors, member. Large Community Bank Council, member.

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