|
|
|
View all ACB Services and Products
|
|
|
|
| |
Legislation to promote tiered banking regulations was
reintroduced
by Sen. Mike Rounds (R-S.D.) and Rep. Scott Tipton (R-Colo.).
The TAILOR Act of 2017 (S. 366 and H.R. 1116) would require financial services agencies to tailor regulatory actions based on the business model and risk profile of regulated institutions.
The legislation would be retroactive to 2010 and would require regulators to provide an annual report to Congress outlining the steps they have taken to tailor their regulations.
The 2016 version of the bill passed the House Financial Services Committee last year.
|
FDIC-supervised financial institutions are not fully considering the potential risk of technology service provider contracts on their operations, the agency's inspector general said.
In a review of 48 TSP contracts, the FDIC's Office of Inspector General said many fail to account for risks to business-continuity planning and incident response and reporting.
The contracts generally lacked assurances that TSPs can contain and report on incidents and quickly resume operations if disrupted, the OIG said.
In response to the OIG's recommendations, the FDIC's Division of Risk Management Supervision said it is working with other regulators to provide supervisory guidance on TSP relationships.
See the IG Report
|
The Washington, D.C. Circuit Court has granted a rehearing petition in PHH Corporation v. The Consumer Financial Protection Bureau. The hearing will be en banc, meaning the full circuit bench will hear the case. The Court has scheduled oral arguments for May 24, 2017, and has provided for a new round of briefings. The Court also has directed the parties to address specific questions (while specifying that briefing is "not otherwise limited"):
- Is the CFPB's structure as a single-Director independent agency consistent with Article II of the Constitution and, if not, is the proper remedy to sever the for-cause provision of the statute?
- May the court appropriately avoid deciding that constitutional question given the panel's ruling on the statutory issues in this case?
- If the en banc court, which has today separately ordered en banc consideration of Lucia v. SEC, 832 F.3d 277 (D.C. Cir. 2016), concludes in that case that the administrative law judge who handled that case was an inferior officer rather than an employee, what is the appropriate disposition of this case?
In granting the rehearing, the matter will remain unsettled for the near future, leaving the constitutionality of the CFPB in limbo. A new decision from the Court is not likely until late summer at the earliest, though 4Q 2017 is more likely.
|
Rural Decline Slows in February
Creighton University's index of the rural economy improved to its highest level since September 2015, yet still remained below growth-neutral. The Rural Mainstreet Index advanced to 45.8 from 42.8 in January, coming in below growth-neutral for the 18th straight month.
According to the index, livestock and grain commodity prices have improved slightly, though only 14.9 percent of surveyed bankers said their local economy was expanding. Approximately 34 percent indicated their local economy was in a recession, with the remaining 51.1 percent indicating little or no economic growth.
A separate report released last week by the Kansas City Fed found that farmland values and cash rents declined moderately in the fourth quarter. The persistent weakness in farm income continued to weigh on farmland values and has been joined by increasing loan demand and lower repayment rates, which the reserve bank said is expected to continue this quarter.
|
Conversational Banking Will Transform the Financial Services Industry
Leveraging the power of artificial intelligence (AI) and the surging popularity of messaging apps, conversational interfaces are enabling unprecedented banking engagement and re-establishing relationship banking. Chatbots are a simple, lightweight solution to a host of legacy banking problems, giving progressive banks and credit unions a competitive industry edge.
The arrival of the digital age has disrupted the retail banking industry and altered the relationship between banks and their customers. Where banking once meant interacting with customers in brick-and-mortar branches, new digital banking channels like websites and mobile apps have opened an entirely new way to reach customers and do business. Online and mobile banking have allowed banks to reach customers more easily and frequently, and have given customers unprecedented access to their financial information.
However, while these advances have made banking more convenient, they come at the cost of eroding the traditional banking relationship. Current digital banking channels permit almost exclusively one-way interactions with banking customers; the onus is on the customer to reach out to their bank (either by phone, text, mobile app, or website) to get the information they want. Banks are missing out on the opportunity to respond to and initiate conversations with customers.
It's time for banks to bring two-way, relational interactions to digital banking channels. Recent advancements in technology and shifts in mobile usage trends make it possible for banks to interact with their customers through mobile interfaces using the most natural medium ... conversation.
Learn more....
|
|
View All Upcoming and Archived Webcasts
|
|
Upcoming Conferences
Click below for more detail and to
****Register Today****
!!! Only 2 seats left !!!
|
The hottest show in community banking is less than two months away. We have developed a
 terrific program featuring all the staples that make this convention one of the premier events in the industry, and this year, have added new events that will once again raise the bar.
The convention will feature three general sessions, more than 60 education sessions, dozens of networking opportunities, the largest trade show anywhere for community bankers, tours, the return of the popular Late Show and so much more. A couple of weeks ago we announced that musical duo Big & Rich will close the convention at the final evening banquet, which will be a fantastic performance! In addition, there is much to see and do in the Alamo City. The River Walk is just steps from the headquarter hotels and boasts a vibrant mix of culture, cuisine, legendary architecture and moving history.
|
|
|
