Holding onto tradition

Data on the FDIC website shows that 2,469 insured institutions were chartered in 1922 or earlier. These centenarians and other long established banks generally have a rich tradition. If you work in one of these banks, I think this is your moment. [Continue]

What employees want

We have heard a lot about the Great Resignation; well, I just learned that all those people who are quitting their jobs are not necessarily happy with their decisions. Johnny Taylor, the president and CEO of the Society for Human Resource Management, declared recently that 72 percent of those folks regret their decision. For those looking to attract or keep employees, he also offered insight into workforce desires. [Continue]

CRA reform proposal spurs debate on lending issues

Advocates who follow lending issues are divided about the likely impact of the proposed revisions to the Community Reinvestment Act. Some who see its potential to expand credit to currently underserved groups are calling the proposal an opportunity of a lifetime; others, who say the proposal fails to promote racial equity, characterize it as a missed opportunity. The current reform proposal, which is soliciting public comments until August 5, will look more closely at the income of borrowers, consider small business lending with a special focus on loans to very small businesses, compare exam findings with so-called “section 1071” data collected by the Consumer Financial Protection Bureau, and take steps to increase credit availability to areas currently considered credit deserts. [Continue]

Regulators propose CRA reform

Last month, the bank regulatory agencies issued a joint notice of proposed rulemaking to update the Community Reinvestment Act. Enacted in 1977, the law was last updated in 1995. Comments on the proposal, which is nearly 700 pages long, are due August 5. I encourage you to wade through the document and either comment directly or work with your trade group to make your voice heard. [Continue]

Don’t cancel that check just yet

My dear mother, who is 92, took issue with a recent column by my esteemed colleague, Justin Dullum, in which he declared the death of the personal check. Of course, Justin is correct; the paper check is a much less common form of payment than it was years ago. But I think my mother is also correct: A lot of people still rely on checks.  [Continue]

Experience tops product every time

Satisfaction with a product generally declines over time, whereas contentment with an experience generally grows over time. This observation, shared by presenter Jacob Morgan recently at the ABA National Conference for Community Bankers, resonates. While I might be ready for a new fishing pole every couple of years, that memory of the fish that got away gets to be a better story every time I tell it. [Continue]