Community banks, though relatively small, are attractive targets for cyber criminals as “low-hanging fruit,” said Banking Superintendent James Johnson on April 11 during the Iowa Division of Banking’s Day with the Superintendent. [Continue]
Community bankers have been hearing for years about the decline of branch banking and the need to shift more services to digital. However, statistics reveal this generally accepted truth doesn’t capture the full picture. [Continue]
Mandating use of the Federal Reserve’s discount window will not ease the stigma of using the program and could create more drawbacks than advantages, said Federal Reserve Gov. Michelle Bowman. [Continue]
Community bankers and industry consultants say branches are having a bit of a comeback, albeit with slightly less square footage and more personalized services. [Continue]
Though digital account openings are table stakes for community banks, experts say they must also invest in physical branches over the next several years. [Continue]
For Melanie VanRoekel, being an effective board chair requires open communication while recruiting directors with expertise outside of the banking world. [Continue]
The Consumer Financial Protection Bureau’s recent capping of credit card late fees at $8 continues the bureau’s erroneous view of the expense as an unnecessary “junk fee.” [Continue]
Open banking is bringing both extensive promise and security concerns to community bankers as more customers desire the frictionless, near-instant service enabled by the technology. [Continue]
The Consumer Financial Protection Bureau has already unveiled an open banking rule that would require financial firms offering transaction accounts such as checking, prepaid cards, credit cards and digital wallets to give consumers access to their personal financial data. [Continue]
I attended Federal Reserve Gov. Christopher Waller’s speech last Thursday at the University of St. Thomas in Minneapolis. Though much of his speech focused on why the Fed should temporarily delay lowering interest rates, Waller also briefly touched on his opposition to a central bank digital currency. [Continue]