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FRB to Broaden Scope of Post-Employment Restrictions

November 18 – The Federal Reserve Board announced it is broadening the scope of post-employment restrictions that apply to Federal Reserve bank senior examiners and officers. (more…)

Metro City Bank Breaks Ground in Doraville, Ga.

August 17 – Metro City Bank recently broke ground on a new, larger branch in Doraville, Ga.

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Cybersecurity Threats: Your New No. 1 Risk

By Robert Mendez

As a board member or a member of the bank’s executive team, understanding the levels of risk you’re accepting for your bank, your customers and for yourself is essential. CEOs and executives of non-banking firms, such as Target, have lost their jobs because they didn’t understand the cybersecurity risks their businesses were accepting. Bankers have additional concerns about financial risks and the penalties regulators may assess if cybersecurity risks are not being effectively managed by the board.

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ABA: Banks Thwarted 85 Percent of Fraud Attempts in 2014

February 1 – The nation’s banks stopped more than $8 out of every $10 of attempted deposit account fraud in 2014, according to the 2015 American Bankers Association Deposit Account Fraud Survey Report. While attempted fraud against bank deposit accounts reached $13 billion, banks’ prevention measures stopped $11 billion in fraudulent transactions. Fraud against bank deposit accounts cost the industry $1.9 billion in losses an increase from $1.7 billion in 2012. (more…)

Signature Bank President and CEO Joseph J. DePaolo Named Recipient of Alfred B. DelBello Visionary Award

November 30 – Signature Bank, a New York-based full-service commercial bank, has announced that President and Chief Executive Officer Joseph J. DePaolo was named the recipient of the Alfred B. DelBello Visionary Award by the Westchester County Association, the leading business membership organization in Westchester County, focused on economic vitality and development in Westchester and the surrounding region.

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Auto Dealers Seek Underwriting and Speed Over Price From Lenders

July 27 – In the highly competitive auto lending environment,  the level of service provided, including technology and a collaborative and consultative staff, is more important than price, as dealers are willing to pay a premium for high-quality service, according to the J.D. Power 2015 U.S. Dealer Financing Satisfaction Study. (more…)

Viewpost Targets Fast Growth in Online B2B payments

March 12 – Electronic invoicing and payment provider Viewpost IP Holdings LLC is looking to build on growth in business-to-business payment processing by connecting buyers and suppliers through its free-to-join online portal. CEO Max Eliscu compares his company’s portal, launched last fall, to Facebook or LinkedIn, except instead of browsing old bosses’ profiles, buyers and suppliers use their Viewpost pages to get paid.

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CFPB Penalizes Payday Lender for Tactics Used to Collect Debt

July 10 – The Consumer Financial Protection Bureau has taken enforcement action against ACE Cash Express, one of the largest payday lenders in the United States, for pushing payday borrowers into a cycle of debt. The CFPB found that ACE used illegal debt collection tactics – including harassment and false threats of lawsuits or criminal prosecution – to pressure overdue borrowers into taking out additional loans they could not afford. ACE will provide $5 million in refunds and pay a $5 million penalty for these violations.

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JMFA Receives Five*Star Award From Independent Bankers Association of Texas

July 2 – John M. Floyd & Associates, a provider of profitability and performance-improvement consulting for more than 35 years, was named a recipient of the 2014 Five*Star Award by the Independent Bankers Association of Texas (IBAT) at the association’s Leadership Conference General Session held Friday, June 27, in San Antonio. The Five*Star Award recognizes IBAT Associate Members who routinely provide not just excellent service, but innovative solutions that help community banks grow faster, enhance profits, gain efficiency and shine.

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NACHA Announces Launch of New Opt-in Program: Bill Payment Exception Mitigation

April 17 – The Electronic Payments Association has launched a new opt-in program designed to mitigate the increasing volume of business bill payment exceptions originated to billers through online banking channels. Through the Bill Payment Exception (BPE) Mitigation Opt-in Program, NACHA seeks to improve the reliability of online banking bill payment channels, reduce costs and checks issued in association with bill payment exceptions, and improve overall efficiencies for billers and bill payment originators. Bill payment exceptions cost the industry nearly $800 million per year, according to an earlier study commissioned by NACHA.

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