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Community Banks Are Special
By Bill Poquette, Editor-in-Chief
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 A year-long program of outreach and engagement by the FDIC with community bankers across the country, along with additional research and analysis, have resulted in a revealing and comprehensive community banking study and some welcome supervisory initiatives. But all of the information confirms what BankNews readers already know: Community banks are special. Read more>>
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KC Fed President: We Can't Ignore Possibility That Extended Accommodative Policy May Create Future Financial Imbalances
| | Although optimistic that the recovery is building momentum, Federal Reserve Bank of Kansas City President and CEO Esther L. George cautioned in a recent speech that becoming too sanguine about that the risk of financial instability and the risk of higher inflation can lull us into thinking we can avoid them. Read more>> |
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President Obama Nominates Jacob Lew as Treasury Secretary
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President Obama has nominated Jacob Lew, the current White House chief of staff, to serve as the next Treasury Secretary succeeding Timothy Geithner. Read more>> |
CFPB Issues Rules to Strengthen Protections for High-Cost Mortgages
| | The Home Ownership and Equity Protection Act was enacted in 1994 to address abuses in home-equity lending and refinances. The Dodd-Frank Act expanded HOEPA to cover home purchase loans and home equity lines of credit; revised HOEPA's rate- and fee-thresholds for coverage; added a new coverage test based on a transaction's prepayment penalties; and provided new limitations on risky loan features, as well as other new protections for high-cost mortgages. Read more>> |
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Staying Up-To-Date with BSA & OFAC: Training for the Frontline
 This webinar will provide an update of the BSA and OFAC regulations, as well as a review of the common mistakes bankers make in attempting to comply with the complicated requirements.
Click here for more information or to register.
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CFPB Defines Qualified Mortgage
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Among the features of a Qualified Mortgage are no excessive up-front points and fees; no toxic loan features; and a cap on how much income can go toward debt.
Read more>>
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Minneapolis Fed President: Monetary Policy Too Tight, Not Too Easy
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"My own forecast, conditional on the FOMC's current monetary policy stance, is that inflation will run below the Fed's target of 2 percent over the next two years and the unemployment rate will remain elevated. This forecast suggests that, if anything, monetary policy is currently too tight, not too easy," said Federal Reserve Bank of Minneapolis President Narayana Kocherlakota. Read more>> |
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Mobile Banking Users to Hit 1 Billion by 2017
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More than 1 billion mobile phone users will be using their mobile devices for banking purposes by the end of 2017, compared to just over 590 million this year, according to the latest report from Juniper Research. Most banks now have at least one mobile banking offering, says Juniper, either via messaging, mobile browser or an app-based service. Read more>> |
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Abound Resources Survey Reveals That Regulations, Rates and Economic Recovery Dampen Optimism at Community Banks
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In 2012, despite uncertainty about the economy and regulations, CEOs felt they could plan for the impact of regulations. However, going into 2013 they are concerned about increasing regulations, uncontrolled powers of the Consumer Financial Protection Bureau and increasing inconsistency among bank examiners. Read more>> |
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