Compliance Corner

Congress Considers Revisions To Credit Reporting Act

While federal lawmakers debate the merits of a consumer credit reporting overhaul, lenders continue to value the consumer credit report as an important tool. U.S. Rep. Maxine Waters, D-Calif., introduced the Fair Credit Reporting Improvement Act, which, if passed, would be the most aggressive overhaul of the Fair Credit Reporting Act in more than a decade.

Three Things You Need to Know to Build an ERM Program

By following three basic principles that cover operation, finance and governance, your institution can create and implement an effective and efficient enterprise risk management program that can stand up to today’s challenges.

National News

Tips for Small Business to Keep in Mind as We Enter 2015

As the new year looms larger on the horizon, and the process of closing the books on the past year starts consuming resources and mind-share, it’s also time to focus on what you should be doing differently in the coming year.

Budgeting for Mobile Marketing a Top Priority for 2015

The mobile market has grown at an astonishing rate and yet many businesses still have not budgeted for mobile marketing. While the overall mobile marketing budget has increased, many companies still put their money into other digital and print marketing strategies.

Technology Trends

Optimizing the Multichannel Banking Experience

Today’s consumers demand multiple methods for interacting with banks. Those banks with cutting-edge consumer-facing solutions have gained a competitive advantage in acquisition and retention, while late-adopter banks are struggling to catch up. A true multichannel strategy requires more than just a website and a mobile app.

Instant Issue Picks up Steam

With banks still on the hook for the bulk of the mess caused by data breaches that have hit the likes of Target and Home Depot, bankers are increasingly turning to technologies that may help them better mitigate the effects of cyber attacks. Enter instant issuance of debit and credit cards.

Products & Services

Social Media Unlikely to Impact Customer Surveys

Bank customers, particularly those of the larger banks, are used to email and phone inquiries asking them about their experience with a recent branch or online transaction. For banks, evaluating the quality of customer contact has become a priority as the role of the bank branch has been supplanted by online transactions.

Not for Lack of Interest

While asset quality is improving and the number of problem banks has continued to decline, the recent increase in banking industry earnings is less because of robust loan demand and more the result of cutting costs.

Regulatory Updates

Taking the Theme Literally: A Response on Niches

By Patti White Much has been said about the impact the Dodd-Frank Act has had, and will have, on the mortgage industry. Early concerns involved overburdening restrictions and the impossibility of compliance, but as companies finalize their plans to manage the new...

The Best Defense is a Good Offense

Over the past five years, financial institutions have operated in a setting of historically low interest rates. These conditions have influenced changes in asset mix while presenting challenges to maintaining profitability. As interest rates declined, the yield curve steepened, prompting many institutions to rely more heavily on longer-term loans and securities to support profitability. According to a recent report by the FDIC, these changes in balance sheet composition appear to have resulted in increased interest rate risk exposure.

Fraud Prevention & Detection

Instant Issue Picks up Steam

With banks still on the hook for the bulk of the mess caused by data breaches that have hit the likes of Target and Home Depot, bankers are increasingly turning to technologies that may help them better mitigate the effects of cyber attacks. Enter instant issuance of debit and credit cards.

The State of High Risk Processing Today

The lure of high risk processing and its potential for windfall profits is nothing new. Since becoming a legitimate and bankable income source some 15 years ago, more and more consulting firms and processors claim they can place categories not widely accepted. So when your organization decides it’s time to diversify its portfolio with some less traditional accounts, it’s important to know how to separate smart risks from just plain risky business.