Hsu: OCC focusing on largest banks for climate change risk
Focus on climate risk by the Office of the Comptroller of the Currency is all about safety and soundness, Acting Comptroller Michael J. Hsu said. [Continue]
00 Feature Top – Row
3 top articles at top of home page.
Three challenges facing your sales team
Elite salespeople have mastered many skills, including positioning their value to prospects and clients as well as following a stage-based sales process. Even the cream of the sales team crop, however, can struggle with these three sales challenges. [Continue]
Kansas City Fed president retiring in January
Federal Reserve Bank of Kansas City President and CEO Esther George will retire in January after reaching the mandatory retirement age of 65. [Continue]
Banks made nearly $59.7 billion in 1Q 2022
FDIC-insured institutions made $59.7 billion in net income during the first quarter of this year, a 22-percent drop from a year ago, according to the Quarterly Banking Profile. The overall drop was due to a $19.7 billion increase in provisional expenses, mainly among the largest banks. Nearly 63 percent of banks reported an annual decline in quarterly net income. [Continue]
Don’t skimp on cyber training; new threats are the norm
It can’t be said often enough: Nearly every horror story about a bank or its customers being the victim of a cyber attack starts with a misstep by the victim. These can range from carelessness to being duped by very sophisticated criminals. The IT world has considered human error the greatest obstacle to cybersecurity for a very long time. Those faxes from the Nigerian prince promising to make you rich are really no less sophisticated than your run-of-the mill phishing email today. [Continue]
Modern approach needed to combat fraud, expert says
Banks should be aware of the latest fraud trends, training and encouraging their employees to adopt “a see something, say something” approach to preventing fraud, said Fredrikson & Byron Senior Associate Caitlin Houlton Kuntz. [Continue]
Rural economy slows but remains strong
The rural economy is slowing but remains strong as farm prices continue to increase at a historic pace, according to a monthly Creighton University survey. The Rural Mainstreet Index fell from 62 to 57.7 in May, the lowest reading since early 2021, but still remained above growth-neutral for the 18th straight month. [Continue]
It’s springtime for entrepreneurs; time to cultivate business
Inflation. Continued supply chain disruptions. War in Ukraine. Yet another Covid variant. There’s never a shortage of bad news, is there? But if you’re looking for something on which to pin some real hope, consider this economic silver lining: In the last two years, there’s been a significant jump in the number of new business applications. According to the U.S. Census Bureau, in 2021, a record 5.4 million applications were filed to form new businesses. [Continue]
CSBS president/CEO dies at 58
Longtime Conference of State Bank Supervisors President and CEO John Ryan died unexpectedly late in the day of May 16 in Washington, D.C. [Continue]
Economist: Limited recession likely
Economist Elliot Eisenberg said the United States will likely enter a recession. He expects the downturn to last less than a year, however, and not be as severe as the Great Recession. [Continue]