Print Issue: 2020 - October Edition

Pandemic raises stakes on debit card issue

The 10th anniversary of the Dodd-Frank Act came in the midst of the pandemic, when debit card usage was surging. The Durbin Amendment to Dodd-Frank requires card issuers to enable cards to operate on at least two unaffiliated debit networks. Sen. Richard Durbin, (D-Ill.) recently wrote to the Federal Reserve about his concern that the largest card issuers are ignoring the rule at a time when card usage is skyrocketing, resulting in higher fees for merchants and, therefore, consumers. [Continue]

Fintechs, banks work to find common ground on managing risk

A community bank’s identity is intrinsic to its ability to connect with its customers, and meet them where they’re at. This looks different behind a screen and six feet apart. As a result, bankers are learning to partner with fintechs that have a common culture, and grapple with the oxymoronic relationship between fintech innovation and risk-averse banking. [Continue]

Digital marketing meets the needs of the moment

Fintel Connect is a Vancouver-based digital marketing firm that works with U.S. banks. Nicky Senyard, founder and CEO, talked with BankBeat about how the pandemic has forced banks to find new ways to reach customers. [Continue]

Consensus around PPP’s success

Democrats and Republicans unsurprisingly have different takes on the success of the Paycheck Protection Program. Opposing political parties routinely take shots at one another; weeks before a presidential election, the partisanship is especially acute. With respect to PPP, however, small business advocates should agree that the program provided crucial support very quickly, with safeguards against fraud that made PPP as effective as any massive government grant program can realistically be. [Continue]

Faces of Compliance & Risk Management: Shield Compliance

Collaboration ensures success with cannabis banking Cannabis banking programs succeed when financial institutions have a solid understanding of how marijuana-related businesses operate. Shield Compliance is enabling that understanding for bankers, and that starts with customer-focused collaboration. Jenna Meyer and Cari Conklin drive that process. According to Meyer, cannabis compliance is similar to portfolio management in … Read more