Kansas City Fed names veteran banker and regulator as chief
American Banker
AUGUST 2, 2023
Schmid will assume Esther George's former role on August 21.
This Is How Our Regulators Are Viewing Bank Risk, Capital And Org Structure
South State Correspondent
JANUARY 8, 2015
The Kansas City Fed released an interesting research paper titled The Effect of Risk and Organization Structures on Bank Capital Ratios. The research looks at how risk and a bank’s organizational structure impacts its capital levels. In times of stress, does a bank holding company (BHC) structure help protect a bank or hurt it? '
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Ten Questions for Kansas City Fed President Esther George
American Banker
AUGUST 29, 2016
Kansas City Federal Reserve Bank President Esther George is best known nationally as a critic of the Fed’s monetary policy, but in a wide-ranging interview she talks about Dodd-Frank, bank capitalization and the challenges facing community banking, in addition to interest rates.
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31 Kansas City Fed rejects Custodia's master account application
American Banker
JANUARY 27, 2023
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71 Kansas City Bank to Pay $2.8M in Redlining Case with HUD
American Banker
FEBRUARY 29, 2016
First Federal Bank of Kansas City has agreed to a $2.8 million settlement with the Department of Housing and Urban Development to resolve allegations of redlining in African-American neighborhoods.
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Brex Offers FDIC Insurance, Adds Chief Legal Officer
PYMNTS
JULY 22, 2020
a financial services holding company based in Kansas City, Missouri. Biber most recently served as general counsel at Anchorage, a cryptocurrency platform, and has a track record of helping to launch innovative products and services, in cooperation with regulators, Brex said.
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Small banks: Big challenges and big opportunities
Abrigo
FEBRUARY 23, 2023
According to the Federal Reserve Bank of Kansas City , community banks’ deposit market share dropped to 15% in 2022 from 22% in 2013. Balance runoff is picking up speed, according to financial consulting firm Curinos. For smaller banks, longer-term industry consolidation trends and competition are also eroding deposit market share.
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Kansas City Fed President Esther George to retire, creating second 2023 opening
American Banker
MAY 25, 2022
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NFL Unveils 2020 Schedule But Questions Persist
PYMNTS
MAY 8, 2020
10 as the defending Super Bowl champion Kansas City Chiefs host the Houston Texans in a rematch of the American Football Conference Divisional playoffs, according to the NFL. The National Football League’s 101st season begins in prime time on Sept. Or will it? “In
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How to Measure Interest Rate Risk Effectively in Banks & Credit Unions
Abrigo
JUNE 11, 2021
Takeaway 1 Regulators stress sound risk management practices that include the ability to identify and measure interest rate risk (IRR). Regulators have repeatedly stressed the importance of sound risk management practices that include the ability to identify and measure interest rate risk. EVE Analysis.
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No permanent successor in sight as Kansas City Fed president retires
American Banker
JANUARY 30, 2023
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Acquire or Be Acquired 2023: Disruption ‘Comes Home’ to Banking
Gonzobanker
FEBRUARY 1, 2023
An Expanding Regulatory Perimeter With the collapse of crypto and FTX serving as this generation’s Enron, discussions abounded that the reach of traditional regulators will expand into the fintech, shadow banking, and decentralized finance worlds.
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Lime Raises $310M For Micromobility Expansion
PYMNTS
FEBRUARY 6, 2019
The company also plans to focus on safety issues , and pledged to work with regulators around the world on the issue. Partnerships like our transit data sharing for bike lane planning in Austin and Kansas City, or our membership on the St. Yet for safety to be built into micromobility from the street up, we cannot do it alone.
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The clock is ticking on the Kansas City Fed's presidential search
American Banker
JANUARY 9, 2023
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House Financial Services Committee to hold Sept. 26 hearing on real-time payments
CFPB Monitor
SEPTEMBER 25, 2019
The memo from the FSC Majority Staff indicates the hearing will focus on the development of a real-time payments (“RTP”) system and the risks, regulation, and market features of any future payments system. George, President and Chief Executive Officer, Federal Reserve Bank of Kansas City.
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CFPB Set to Release Payday Lending Proposal on June 2
American Banker
MAY 18, 2016
The bureau said Wednesday that it plans to hold a public hearing in Kansas City, Mo., The hearing will be held at the Kansas City Convention Center and will feature remarks from CFPB Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and the public.
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Fed Concerned Trade War Could Trigger Recession
PYMNTS
OCTOBER 10, 2019
Esther George of the Kansas City Fed and Eric Rosengren of the Boston Fed voted to “keep the target range unchanged,” the news outlet said. At last month’s meeting, James Bullard, president of the St. Louis Fed, voted for a bolder rate cut of 50 basis points. Invesco portfolio manager Noelle Corum told the FT that the U.S.
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Federal Reserve Names New Payments Strategy Director
PYMNTS
AUGUST 25, 2017
According to Esther George, Federal Reserve Bank of Kansas City president and chief executive officer, Sapenaro played a prominent role in developing those strategies. The position means Sapenaro will lead the Fed’s efforts as outlined in a paper titled Strategies for Improving the U.S. Payment System published in early 2015.
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How to stress test your ag portfolio
Abrigo
JUNE 17, 2015
The report, from the Federal Reserve Bank of Kansas City , stated that demand could remain high since futures markets for fall crops show prices are likely to remain low because of the potential for another record harvest.
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Ag lending risk increasing as result of declining incomes
Abrigo
AUGUST 20, 2015
“Although loan volumes have increased steadily since 2011, recent increases have coincided with a period of declining farm income,” said a recent report from the Federal Reserve Bank of Kansas City. The report noted that since 2012, crop cash receipts have declined by more than 20 percent, according to the USDA.
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What's Next for Energy Lenders? Lots of 'Wound-Licking'
American Banker
JULY 11, 2016
Expect banks to pull back on energy lending in the near term, as regulators step up their scrutiny of oil loans and bankers approach the business with a "different attitude," says Mariner Kemper, chairman and chief executive at UMB Financial in Kansas City, Mo.
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Onward Financial’s Employer-Backed Payday Loan Alternative
PYMNTS
FEBRUARY 5, 2019
Regulators can ban payday loans – but no one can ban cars that break down, heating systems that drop dead in the middle of the winter, medical crises or any of the myriad unexpected financial events that send consumers running to the embrace of short-term lenders. But now, they are ready to think about expanding.
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ResTech’s Rising Prominence In Writing The Future Of The Industry
PYMNTS
NOVEMBER 24, 2020
Restaurateurs need technology that helps them quickly adapt — whether it’s pivoting business models, adhering to new regulations, or answering changing guest expectations for safety and convenience,” Steve Fredette , president and co-founder of Toast, said in a statement last Wednesday (Nov. Island Grill in Kansas City, Mo.,
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201 Apple Watch Earns Pro QB $5K Scolding From NFL
PYMNTS
OCTOBER 8, 2019
In 2017, an Arizona Diamondbacks coach was fined for violating Major League Baseball’s on-field regulations because he wore an Apple Watch in the dugout. In 2015, a similar incident occurred with Kansas City Royals Manager Ned Yost.”.
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New Cyberattacks Aim for ATM Management Systems
Independent Banker
NOVEMBER 13, 2014
Earlier this year, federal regulators warned financial institutions against criminal attacks on their ATM systems. But Phil VanMeerhaeghe, security engineer at Kansas City-based 10-D Security, recommends taking further steps to isolate ATM management systems altogether. Current Tech. By Maria Korolov.
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93 Regional Fed Presidents to Testify Before House Panel Next Week
American Banker
SEPTEMBER 1, 2016
Kansas City Federal Reserve Board President Esther George and Richmond Fed President Jeffrey Lacker will testify before a House panel on Wednesday.
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Non-performing ag loans increase, says lender survey
Abrigo
JUNE 12, 2015
Earlier this year, the Federal Reserve Bank of Kansas City reported that non-real estate bank loans made to farmers in the first quarter grew by nearly 8 percent. Federal regulators have noted that changes in commodity prices and production levels come with the territory for agricultural lenders.
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Hawk. Dissident. Advocate. Why Esther George Stands Out at the Fed
American Banker
OCTOBER 30, 2016
The president of the Kansas City Federal Reserve Bank is best known for her dissenting votes on monetary policy, but that's not the only way she stands out. Her background as a farmer and former bank examiner gives her a unique perspective among Fed officials.
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Agencies cancel community reinvestment conference due to coronavirus
American Banker
MARCH 5, 2020
The banking regulators have announced that they are postponing next week’s National Interagency Community Reinvestment Conference because of growing health concerns about the virus outbreak.
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Fed Looks To Keep Momentum Going On Payments Improvements
PYMNTS
SEPTEMBER 7, 2017
payment system that will require the sustained commitment of the Federal Reserve and the industry to achieve,” said Esther George, chief executive of the Federal Reserve Bank of Kansas City, who also serves as executive sponsor of the payments improvement initiative. “Our 2015 paper laid out ambitious goals for the U.S.
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124 Agricultural Alert!
Independent Banker
MAY 24, 2016
Because real estate often collateralizes rural loans, diminishing land prices are a factor that regulators will ask community banks to keep monitoring. The volume of agricultural loans used to cover current operating expenses “remained historically high” in the fourth quarter of 2015, the Federal Reserve Bank of Kansas City reports.
New CECL Excel SCALE Tool from Federal Reserve
Abrigo
JULY 26, 2021
The Scaled CECL Allowance for Losses Estimator (SCALE) tool was unveiled during an “Ask the Fed” webinar , where regulators described the Excel spreadsheet-based option using estimated loss rates from peers as a “ starting point ” in the calculation. Regulators said they have had discussions with the FDIC and the OCC.
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195 SWIFT Gears Up For Trade Via Blockchain
PYMNTS
JANUARY 31, 2019
The trio is comprised three executives of the Federal Reserve Bank of Kansas City: Barbara Pacheco, former senior vice president, Thomas Hoenig, former president, and Bruce Summers, former director of information technology.
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Congress Presses Fed On Real-Time Payments Plan
PYMNTS
SEPTEMBER 27, 2019
Despite some previous pushback, the Fed, represented by Federal Reserve Bank of Kansas City President and Chief Executive Officer Esther L. House Committee on Financial Services Task Force on Financial Technology held a hearing Thursday (Sept. payments ecosystem. George, was met with widespread support from her fellow witnesses.
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174 CFPB issues request for information and report in conjunction with release of proposed payday/auto title/high-rate installment loan rule
CFPB Monitor
JUNE 3, 2016
This report is cited many times throughout the proposed payday loan rule in support of the Bureau’s assertions about the current state of the market and the likely effects of the proposed regulations. Potential consumer harm resulting from ancillary or “add-on” products. The comment period runs through October 14, 2016.
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Judge Wants Payday Loan Firm To Pay $132.5M To Victims
PYMNTS
SEPTEMBER 4, 2020
A Kansas City payday loan company and its operator will be compelled to pay $132.5 The company’s assets were sold years ago, the Kansas City Star reported Friday (Sept. million in restitution to borrowers the company duped, if a federal administrative law judge’s recommendation is implemented.
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Equifax/TransUnion to include buy-now-pay-later transactions in credit reports
CFPB Monitor
JANUARY 10, 2022
In November 2021, the House Financial Services Committee held a hearing on BNPL and the Federal Reserve Bank of Kansas City issued a research briefing titled “The Appeal and Proliferation of Buy Now, Pay Later: Consumer and Merchant Perspectives.”.
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More PPP Funds Would Help CDFIs Lend Money To Micro Businesses
PYMNTS
APRIL 14, 2020
Ruben Alonso, president of the CDFI loan fund AltCap in Kansas City, Mo., This can be done by regulations from Treasury and the SBA,” Rubio said last week. Many of the 350 businesses served by Mountain BizWorks are headed by women and minorities or are based in low-income, rural areas.
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CFPB releases Spring 2016 rulemaking agenda
CFPB Monitor
MAY 23, 2016
The Spring 2016 agenda also does not reflect the CFPB’s announcement that it will hold a field hearing on small dollar lending in Kansas City, Missouri on June 2, 2016. Payday and deposit advance loans. ” Mortgage rules.
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The 2018 GonzoBanker Awards
Gonzobanker
DECEMBER 20, 2018
PNC made a Gonzo move with a national digital expansion in 2018 with the unique idea of building a small number of branches in target metro markets like Kansas City and Dallas. Robinhood backtracked after the initial announcement, but only so it can work with regulators and refine its pitch. Chip & Joanna Gaines Award.
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Why The Fed Will Create Its Own Real-Time Payments System
Tech and Finance
FEBRUARY 27, 2019
It also has a regulator that takes a far more active role in promoting consumer interests vs. banks than the Fed does. Thomas Hoenig, former president of the Federal Reserve Bank of Kansas City and a member of the Federal Reserve Banks’ Technology and Financial Service Policy Committees, said the U.S.
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