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.
Most consumers, even those in rural communities, have become accustomed to digital services. That's something certain community banks better face up to, panelists at the ABA conference said.
More details have surfaced about Interactive Brokers' planned bank. It would accept deposits and originate loans through an online channel only, its application says.
While layoffs at big banks get the headlines, small and midsize lenders are also trimming payrolls in response to lower rates and fears that a recession is getting closer.
