Frank Sorrentino, CEO of ConnectOne, says bankers who are unwilling, or unable, to invest in technology upgrades may have to find buyers as competition heats up.
Better web access, paid for by banks, could go a long way toward moving the unbanked into the mainstream. It was one of many ideas batted around at a recent a conference on the role fintech can play in promoting financial inclusion.
Jeff Szyperski wants regulators to update the definitions of assessment areas under the Community Reinvestment Act, and remove 'arbitrary' asset thresholds from bank regulation in general.
The company is facing criticism after a big chargeoff on two properties, showing that investors have little patience when a risky business model shows signs of distress.
Credit unions won't have to comply with the controversial rule until at least 2020, but a separate proposal on alternative capital could raise the ire of banking groups.
