More than 20 banks have been sold to credit unions. A prominent banking lawyer made the case at this year's ICBA convention that banks can become more aggressive acquirers.
Congress granted banks significant reg relief last year, but incoming ICBA Chairman Preston Kennedy says a lighter touch is needed with Bank Secrecy Act rules, loan-loss modeling and call reports.
The new accounting standard won’t make community institutions safer, though implementation is proving burdensome and could restrict access to credit, argues Rep. Blaine Luetkemeyer.
For years Carter Bank in Virginia had resisted technology of all kinds — even ATMs. But a leadership change, rising rates and a thirst for low-cost deposits finally led to a change in philosophy.
The drudgery of filling out forms and changing bills prevents many customers from swapping banks. One fintech has simplified that exchange, and banks are willing to pay it to deliver them new customers.
