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BAI Announces the 2017 Global Innovation Awards Are Open for Entry

March 20 – Entries are now open for the 2017 BAI Global Innovation Awards. With 13 honors spanning 10 categories, BAI’s Awards celebrate the greatest achievements and innovations in the financial services industry. Nominations will be accepted through Friday, April 28, 2017, with a shortlist of nominations for each category announced by late summer. Winners will be recognized at BAI Beacon 2017 (Oct. 4-5) in Atlanta.

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USC Professor Named President, CEO of Atlanta Fed

Raphael Bostic

Raphael Bostic will be first African-American to lead a Federal Reserve regional bank.

March 13 – The Federal Reserve Bank of Atlanta has named Raphael W. Bostic president and CEO, effective June 5. Bostic, age 50, succeeds Dennis Lockhart, who retired from the Atlanta Fed on Feb. 28. The appointment was jointly approved by eligible directors of the Atlanta Fed’s board of directors, all nonbankers by law, and the Board of Governors of the Federal Reserve System in Washington, D.C. Bostic will be the first African-American to lead one of the Fed’s 12 regional banks.

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Wells Fargo Survey: Small Business Optimism Surges to Pre-Recession Levels

March 13 – Small-business owners are the most optimistic they have been since the start of the Great Recession, according to the latest findings from the Wells Fargo/Gallup Small Business Index, conducted Feb. 6-10.

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JPMorgan Chase to Acquire MCX “FinTech” Payments Technology for Chase Pay

March 13 – JPMorgan Chase has agreed to acquire MCX’s payments technology to help expand Chase Pay, the mobile and digital wallet for Chase customers. MCX, a network of America’s largest merchants, was the premier launch partner for Chase Pay in October 2015. The transaction is expected to close in the coming weeks.

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Regions Is Top-Ranked Bank in the Nation for Customer Experience in New Temkin Survey

March 13 – -Regions Bank is the highest-ranked bank in the United States in the newly released 2017 Temkin Experience Ratings. The annual ratings are compiled by the Temkin Group, a national research firm that ranks companies based on customer experience.

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Increase in Cybersecurity Attacks Expected on Industrial IoT

Tripwire, Inc., a leading global provider of security and compliance solutions for enterprises and industrial organizations, has announced the results of a study conducted in partnership with Dimensional Research. The study looked at the rise of Industrial Internet of Things (IIoT) deployment in organizations, and to what extent it is expected to cause security problems in 2017.

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Survey: Business Executives’ Optimism For U.S. Economy Is Highest Since 2004

March 10 – Business executives are reporting their highest level of optimism about prospects for the U.S. economy in more than a dozen years, according to the first-quarter American Institute of CPAs Economic Outlook Survey, which polls CEOs, chief financial officers, controllers and other certified public accountants in U.S. companies who hold executive and senior management accounting roles. (more…)

White House Meets With Community Bankers

By Toni Lapp

March 9 – Despite recent headlines about health-care reform, immigration bans, the CIA and Wikileaks, regulatory relief remains on President Trump’s agenda, evidenced by his meeting with community bankers from across the country. He later described the meeting in a tweet as a “great listening session.”

The president said he was concerned with the impact of banking regulations on access to credit, and he noted that community banks provide about half of all loans to small businesses.

Donald Trump meets with community banking groups

Representatives of two major community banking groups met with President Trump on March 9.

 

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Thrift Flexibility Bill Backed by ABA Introduced in House, Senate

March 8 – U.S. Reps. Keith Rothfus, R-Pa., and Jim Himes, D-Conn., reintroduced the Federal Savings Association Charter Flexibility Act, supported by the American Bankers Association. The ABA called the bill “the epitome of sensible regulatory relief,” and said it would give greater flexibility to institutions chartered under the Home Owners Loan Act.

According to the ABA, the legislation will allow a federal savings association to elect to function as, and be regulated like, a national bank without having to change charters or governance structure.

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Credit Union Membership Increasing, Along With Assets, Deposits

March 6 – The National Credit Union Administration has released the new credit union system financial performance figures based on Call Report data for the quarter ending Dec. 31, 2016. (more…)

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