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Kansas Passes an Act Requiring Mortgage Companies, Supervised Lender, and Money Transmitters to Create Information Security Standards Consistent with GLBA’s Consumer Information Safeguard Rule

CFPB Monitor

On April 24, the Governor of Kansas signed into law Kansas Senate Bill 44 , which enacts the Financial Institutions Information Security Act (the “Act”).

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Lessons Learned From the Fourth United States Bank Failure of 2023

Perficient

Shan Hanes, who served as the bank’s President and CEO until its closure, joined the firm in 1993 as an agricultural loan officer and Informational Technology Officer. In 2017, the bank was converted from its National Charter to a Kansas state-chartered bank and renamed Heartland Tri-State Bank.

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Fed Names New Payments Security Leader

PYMNTS

Federal Reserve System has appointed its Payments Security Strategy leader, the agency announced Friday (Dec. He will lead the Fed’s initiative to address payments fraud risk and boost the security of payments in the U.S. Montgomery will also retain his position at the Boston Fed, where he focuses on services for the U.S.

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Community Bank Outlook: Challenges and Opportunities in 2021 and Beyond

Abrigo

Economy , supervisory and risk specialists from the Federal Reserve of Kansas outline top challenges and opportunities regarding the future of community banking. Technology is an obstacle and an opportunity. Technology can help streamline and automate many manual lending processes, reduce compliance costs, and enhance risk management.

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Small banks: Big challenges and big opportunities

Abrigo

Takeaway 3 With effective technology, the bank can continue to grow its portfolio without necessarily adding staff. According to the Federal Reserve Bank of Kansas City , community banks’ deposit market share dropped to 15% in 2022 from 22% in 2013. I don’t want my veteran bankers writing a credit memo,” he said. The result?

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Brex Offers FDIC Insurance, Adds Chief Legal Officer

PYMNTS

Brex , the San Francisco financial technology startup, is offering FDIC insurance on its no-fee cash management account, the company announced Wednesday (July 22). a financial services holding company based in Kansas City, Missouri. In March, Brex opened its first international office , a technology hub in Vancouver, Canada.

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New Wire Fraud Scam Reroutes Direct Deposit Paychecks

PYMNTS

KVC Health Systems, a child welfare nonprofit based out of Kansas City, has been hit with the scam. They might just say, ‘I need to update my direct deposit information,’” Erik Nyberg, director of information technology at KVC, told CNBC. “Or Or they start with, ‘Hey, do you have a second?’

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