Rural banker confidence plummets
The Creighton University Rural Mainstreet Index plummeted in March to its lowest level since 2016, taking its biggest one-month decline since the survey’s inception in 2006. [Continue]
Community banks, regulators offer guidance amid pandemic
Community banks, state associations and federal agencies are continuing to offer guidance to consumers and employees as the nation grapples with the current reality of the COVID-19 pandemic. [Continue]
Ohio Senator urges financial agencies to halt non-COVID-19 rulemaking
A Senate democrat urged federal financial regulators to shelve rulemaking projects that aren’t related to the coronavirus pandemic. [Continue]
State leaders adapt strategies amid crisis challenges
Trade associations and the Minneapolis Federal Reserve are providing resources, continuing to cancel or postpone events and encouraging remote work as the COVID-19 crisis and subsequent economic challenges commence. [Continue]
Bank strategies evolve as customers keep their distance
Community banks continue to close their lobbies, and encourage online banking as a way to promote social distancing during the COVID-19 pandemic. At two Minnesota banks, all lobbies are closed, and in-bank services are available by appointment, but only after customers are screened through a series of questions. [Continue]
Community banks respond to COVID-19 in various ways
In the wake of the evolving novel coronavirus pandemic, community bankers are responding by widespread cancellations of large gatherings, enhanced sanitation efforts, and promotion of online banking services and remote work. [Continue]
Regulators advise banks in the wake of COVID-19
The Office of the Comptroller of the Currency released a bulletin on March 13 advising banks to work with customers and communities affected by COVID-19. [Continue]
Fed slashes rates in face of mounting crisis
The Federal Reserve announced March 15, a Sunday, that it would cut interest rates to near zero. It was the Fed’s second rate cut in less than two weeks as the central bank attempts to stabilize financial markets as the coronavirus reshapes the very fabric of American life. Additionally, the Fed said it would restart … Read more
Financial industry responds to the novel coronavirus
Federal and state regulators released a statement encouraging financial institutions to meet the financial needs of those affected by the coronavirus. [Continue]
Wilcox becomes ICBA chair
Noah Wilcox, president, CEO and chairman of Grand Rapids State Bank, Grand Rapids, Minn., was elected 2020-2021 chair of the Independent Community Bankers of America. [Continue]