December 8 – To further emphasize the importance of a comprehensive savings strategy in setting financial goals, Ally Bank, the direct banking subsidiary of Ally Financial Inc., has introduced a series of tools and content focused on helping consumers establish savings priorities and develop a strategy for their financial health through various life stages.
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July 7 – Small businesses around the world are increasingly at risk for payment data theft. Nearly half of cyberattacks worldwide in 2015 were against small businesses with less than 250 workers, according to cybersecurity firm Symantec. In order to help these companies protect themselves and their customers, the PCI Security Standards Council (PCI SSC) Small Merchant Taskforce has developed a set of payment protection resources for small businesses.
July 29 – "Alternatives to Consultants: Meeting Regulatory Expectations with Internal Resources," which appears in the Summer 2014 issue of Supervisory Insights, highlights tools and information available from the FDIC to assist community banks in managing their regulatory responsibilities. The article describes how making use of available technical assistance and maintaining a dialogue with FDIC staff to clarify regulatory expectations may help institutions economize on the use of outside consulting services. The article also describes ways that institutions may be able to conduct required independent reviews of key bank functions using internal resources.
Jan 9 – According to Abound Resources’ recent survey of community bank executives, CEOs of community banks are much more pessimistic going into 2013 than they were going into 2012. The primary driver of the pessimism is an increasingly difficult regulatory environment.
Sept 20 – The FDIC has released two new resources to help bankers and depositors understand FDIC deposit insurance coverage: (1) FDIC’s most popular consumer brochure, Your Insured Deposits, is now available in a large- print version for visually impaired individuals; and (2) the new FDIC Deposit Insurance Coverage for Bankers, a self-paced, computer-based training module targeted to a banker audience, is now available in an interactive format on FDIC’s website, on DVD and in a PDF.
Jan 21 – AlliancePartners, a management company founded by John Delaney and Lee Sachs to address, among other things, the financial challenges facing community and regional banks, has announced the formation of BancAlliance. This new cooperative will help its member banks diversify their loan portfolios, access a broader range of asset opportunities, manage their commercial real estate concentrations and improve their systems capabilities. By working together through BancAlliance, small- and mid-sized banks will have the economic and intellectual scale needed to compete with their larger rivals, allowing them to thrive, grow, and better serve their communities. Donald Kohn, former vice chairman of the Federal Reserve, has joined the board of AlliancePartners.
April 8 – The expanding hedge fund industry and the momentum gained by the shareholder rights movement have made investor activism a critical force in corporate governance, often influencing the emergence of new standards, says a report issued today by The Conference Board Governance Center.
Sept. 29 – The Board of Directors of the Federal Deposit Insurance Corporation has adopted a Notice of Proposed Rulemaking (NPR) that would require insured institutions to prepay their estimated quarterly risk-based assessments for the fourth quarter of 2009 and for all of 2010, 2011 and 2012. The FDIC estimates that the total prepaid assessments collected would be approximately $45 billion. The FDIC Board also voted to adopt a uniform three-basis point increase in assessment rates effective on January 1, 2011, and extend the restoration period from seven to eight years.