M&T hires Aarthi Murali away from JPMorgan Chase as its customer experience chief; when a small town loses its only bank; why more banks are ditching their legacy core vendors; and more from this week’s most-read stories.
While the New York bank has a handle on deposit pricing, Joseph DePaolo said a new accounting standard will play tricks with how it addresses credit quality.
Community bank leaders at an ABA-hosted meeting questioned the timing for a new accounting standard for loan losses and discussed their struggles to keep pace with new technology.
Completing the deal before the new year would let the merged company avoid an earnings hit in complying with the Current Expected Credit Loss accounting standard and give it more flexibility on capital adjustments.
