Every banker has heard more about cybersecurity in the last year than most of us care to hear in a lifetime. How much of what we hear is hype? And if it’s really that bad out there, how is a community banker supposed to keep up with it? [Continue]
– Geoff Rand has joined First National Bank and Trust Company of Beloit, Wis., as vice president and retail market manager. Rand is responsible for FNBT’s branches in Rock County, including the four branches in Beloit as well as the Clinton and Janesville offices. Rand comes to FNBT with 25 years of banking experience, most recently at BMO Harris Bank in Janesville, Wis., where he was branch manager and, earlier, group market manager. A graduate of the University of Wisconsin-Whitewater, Rand has a bachelor of business administration degree with an emphasis in finance. [Continue]
Illinois community banking association legend comes to retirement 43 years after picking up cause [Continue]
Rep. Maxine Waters, ranking minority member of the House Financial Services Committee, has written FDIC Chairman Martin Gruenberg, requesting his agency conduct a public hearing to consider SoFi’s application for deposit insurance on the industrial bank it is chartering in Utah.
SoFi is Social Finance, the six-year-old company that has made a name for itself in the online lending space focusing on student debt. More recently it has begun offering mortgages and personal loans. In June, SoFi submitted the application with the FDIC; Rep. Waters, a Democrat from California, sent her letter to Gruenberg on Aug. 25. [Continue]
The Iowa Finance Authority has recognized top lenders from throughout the state for their efforts in advancing affordable homeownership through IFA’s programs in 2016, and Iowa Bankers Mortgage Corporation (IBMC) was named the top lender. [Continue]
KleinBank of Chaska, Minn., is one of the first community banks in Minnesota to offer a new mobile service to debit card users that helps defend against fraud and better manage spending. KleinBank’s new CardControl mobile app enables customers to turn their debit cards on or off, set spending limits, approve where and how the card can be used, and receive real time notifications. [Continue]
When the FDIC launched its small-dollar loan pilot in 2008, one of its assumptions was that banks would be willing to forgo short-term profitability to pursue new banking relationships. Twenty-eight banks participated in the pilot. St. Paul, Minn.-based Sunrise Banks — a Community Development Financial Institution since 2001 with a long history of working with underrepresented communities — was not among the participants. When the FDIC pilot was completed two years later, regulators were no closer to solving how banks might profit from offering affordable small-dollar loans than before. Sunrise Banks, by contrast, was nearing the ability to ink a deal with a California startup that promised to revolutionize small-dollar lending by utilizing payroll services. [Continue]
NorthWestern Financial Review writer Douglas Farmer impaneled three bank marketing insiders to discuss strategies, mistakes and overall advice. [Continue]