man using atmEducational
September 1, 2020

Evolution of the ATM

Today’s automated teller machines (ATMs) have a plethora of capabilities. Using your debit or credit card — or using contactless payment options on your smartphone — you can view your…
wealth growthEducational
August 20, 2020

Is a Bank a Profitable Business?

Most of us wonder at some point about how a bank makes a profit. How do banks make money when they provide so many free service offerings — especially ones…
merger dealEducational
August 5, 2020

Bank Mergers and Acquisitions: A Growing Trend

There were 249 bank mergers in 2019, totaling $57.68 billion which was almost double the valuation of the previous year. The high value was a result of the merger of…
call reportingCompliance & Security UpdatesEducational
August 1, 2020

Compliance Update – August 2020

1. Changes in Allowances for Credit Losses (Schedule R1-B; Part II) a. Provisions for Credit Losses on Off-Balance-Sheet Credit Exposures, New Memo Item 7. This new item would be used…
credit card phishingEducational
July 7, 2020

Gone Phishing: How Vigilance Thwarts Scam Attacks

Phishing is a type of online scam that has been a constant, unfortunate accompaniment to the digital age. Research shows nearly one-third of all data breaches in 2019 involved phishing…
escrow written on paperCompliance & Security UpdatesEducational
July 1, 2020

Compliance Update – July 2020

The Consumer Financial Protection Bureau issued a proposed rule to implement relief from mandatory escrow requirements for higher-priced mortgage loans. Under the proposal, institutions with $10 billion or less in…
Starting a credit unionEducational
June 28, 2020

How to Start a Credit Union

A credit union is a not-for-profit financial institution that is run and owned by its members, unlike a bank, which may be publicly traded or privately owned. Credit unions offer…
Educational
June 11, 2020

How to Choose the Right Banking Software

Financial institutions require powerful technology solutions that can keep up with ever-changing client needs. Patrons expect their banks and credit unions to offer a full suite of digital services, and…
LIBOR index interest ratesCompliance & Security UpdatesEducational
June 1, 2020

Compliance Update – June 2020

“I don’t know how some of the things in the past month would have been done but for community banks, …Community banks are the small engines that could and did…
COVID economyCompliance & Security UpdatesEducational
May 1, 2020

Compliance Update – May 2020

The Federal Reserve Board (FRB) has published a temporary change to its capital rule that impacts holding companies. This is in response to recent disruptions in economic conditions cause by…
Emerging FinTech Trends of 2020 Part 1Educational
April 23, 2020

Emerging FinTech Trends of 2020

Technology has slowly been taking over the finance industry ever since the stock market went electronic decades ago. People far and wide are investing in fintech for its time- and…
Marking the calendarCompliance & Security UpdatesEducational
April 1, 2020

Compliance Update Special Edition– April 2020

The banking regulators (FDIC, FRB, and OCC) have announced that banks will have an additional 30 days to file their Bank Call Report for the quarter ending 3/31/20. The regulators…
prepaid card inputCompliance & Security UpdatesEducational
March 1, 2020

Compliance Update – March 2020

Question: May a prepaid card be set up without requiring customer identification verification? Answer: Regulation E permits not requiring customer identification verification. However, it must be disclosed. If a prepaid…
Popular Banking TrendsEducational
February 18, 2020

5 Popular Banking Trends in 2020

The year 2020 is something we’re used to hearing about in sci-fi movies — but the new decade is already here. Along with a fresh decade comes exciting new banking…
Businessman Whiteboarding Business PlanEducational
January 25, 2020

Creating a Business Plan for a De Novo Bank

Before you open the doors of your De Novo Bank and start accepting customers, there are a few hurdles to overcome. One of the first ones is to create a…
Stocks GraphEducational
December 20, 2019

How to Raise Capital When Starting a New Bank

Banks are rock solid investments that can, upon maturity and after prodigious legwork, yield capital appreciation and significant dividend income for investors. Financial institutions make their money through the charging…
Small Bank DowntownEducational
November 11, 2019

How Small Online Banks are Changing the Financial Landscape

Today’s consumers expect to be able to do just about everything from their smartphones, and that includes managing their bank accounts. Online banks have emerged to meet the demands of…
Downtown SkyscrapersEducational
August 12, 2019

Getting to Know ILC Banking

An industrial loan company (ILC) is a financial institution within the United States that lends money, typically to consumers and small businesses. A fixed institution since 1910, the distinctive feature…
Benefits of Core Banking SystemsDe Novo BankEducational
July 11, 2019

What Is a Core Banking System?

Advanced technology in the banking industry has made transactions safer, faster, and more efficient for banking staff as well as customers. Gone are the days of manually processing checks and…
Unlocked Lock With CoinsDe Novo BankEducational
May 15, 2019

Back in Black: Renewed Interest in De Novo Bank Investment

It’s been a long road, but regulatory conditions are finally more receptive to bank startups than at any time since the financial crisis struck a decade ago. Only 11 new…
FDIC InsuranceDe Novo BankEducational
April 3, 2019

How to Start a De Novo Bank

Starting a bank often seems like an impossible task. In this day and age, that conception is false. With experience and modern technology, anyone with ambition has the opportunity to…