BankNews April 2015

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Lew: Sarah Bloom Raskin a ‘Tremendous Asset’ to Treasury

Aug 1 – Below is a statement from Treasury Secretary Jacob Lew on the nomination of Sarah Bloom Raskin for deputy secretary.

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Federal Reserve Governor Sarah Bloom Raskin Speaks on Crafting a Foreclosure Response

October 4 – Federal Reserve Governor Sarah Bloom Raskin spoke on the subject of foreclosures at the Maryland State Bar Association Advanced Real Property Institute. Her presentation, on the legal opportunities and challenges in crafting a foreclosure response. “Legal Opportunities and Challenges in Crafting a Foreclosure Response,” follows.

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Federal Reserve Governor Sarah Bloom Raskin Speaks on Monetary Policy and Job Creation

September 26 – Governor Sarah Bloom Raskin of the Federal Reserve addressed the University of Maryland Smith School of Business in Washington, D.C. Her speech focused on monetary policy and job creation.

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CSBS Applauds Nomination of Sarah Bloom Raskin to Federal Reserve Board of Governors

April 30 – The Conference of State Bank Supervisors applauds President Obama’s nomination of Sarah Bloom Raskin, Commissioner of the Maryland Office of Financial Regulation, to the Federal Reserve Board of Governors.  Commissioner Raskin will bring the important pragmatism of a regulator who understands that our economy needs a diverse financial system with local providers and decision makers and a regulatory system that supports those needs.

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Banks to Spend 16 Billion Dollars on Digital Transformation Initiatives

July 2 – Retail banks (including thrifts and credit unions) in the U.S. will spend nearly $16.6 billion on hardware, software, services, and internal IT staff in order to develop and implement digital transformation initiatives in 2015. And this spending on digital transformation will grow at a compound annual growth rate (CAGR) of 10.4% into 2019, according to recent IDC Financial Insights spending models.

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Cadence Bank Upgrades Digital Banking Platform and Website

March 12 – Cadence Bank, based in Houston, Texas, has announced enhancements to its digital platforms, including a more intuitive online and mobile banking platform and an improved website experience.

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Improving Revenues and Boosting Profits for Community Banks


By Tom Bennett and Sarah Beth Morton

Community banks play a critical role in the success of the markets they serve with locally focused, tailored banking solutions and renowned personalized service. But despite their advantages over big box banks, many are finding it increasingly difficult to drive profit growth for several reasons. Demand for loans is tight and price negotiation is generally required. Costs are growing due to continued expenses associated with compliance and regulatory affairs. Additionally, more and more investment is needed in technology, for issues ranging from cyber security to staying relevant with digital offerings. Continue reading “Improving Revenues and Boosting Profits for Community Banks” »

IDC Financial Insights Ranks Regional Providers for North American Banks in New IDC MarketScape

January 9 – IDC Financial Insights has announced the availability of a new IDC MarketScape report, Worldwide Core Banking Solutions 2015 Vendor Assessment of Regional Providers for North American Banks (Doc #FI253357), which provides valuable guidance when examining existing core banking solutions and/or planning for future investment opportunities.

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U.S., U.K. Banking Regulators Meet to Discuss Issues Surrounding ‘Global Systemically Important Banks’

October 13 – The heads of the treasuries and leading financial regulatory bodies in the United States and United Kingdom recently participated in an exercise designed to further the understanding, communication, and cooperation between U.S. and U.K. authorities in the event of the failure and resolution of a global systemically important bank, or G-SIB.

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Data Center Inc. Names Fortress Risk Management as Strategic Partner for Financial Crime Protection Solutions

September 22 – Fortress Risk Management, a provider of advanced technology and services that defend community financial institutions from financial crime, has entered into a strategic partnership with Data Center Inc. to provide integrated financial crime protection solutions. DCI is the Hutchinson, Kan.-based developer of iCore360® core processing software and related technologies.

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