What the C-suite needs to know about redlining enforcement
Release Date: 06/27/2024
Rebuilding ‘the great Virginia regional bank’
ABA Banking Journal Podcast
John Asbury didn’t need a new job in 2016, but when he saw an opportunity build something lost in the 1990s — what he calls “the great Virginia regional bank” — . Eight years later, Richmond-based Atlantic Union Bank has more than tripled in size and is on track to reach nearly $40 billion in assets after completion of an of Sandy Spring Bank. On the latest episode of the ABA Banking Journal Podcast — — AUB CEO Asbury talks about the transformation of the bank. He also discusses his agenda as , including advocating to remove arbitrary asset...
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Breaking down crypto investment scams
ABA Banking Journal Podcast
Crypto investment scams cost Americans billions of dollars. The scammers start small with confidence or romance scams and gradually work their way up to demanding ever larger “investments.” On the latest episode of the ABA Banking Journal Podcast — — officials from the FBI’s Criminal Investigative Division and the Commodity Futures Trading Commission break down how these scams work, typologies and red flags bankers should look out for and how banks can build proactive partnerships with law enforcement. They also discuss a on these scams produced jointly by the ABA...
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Laser-focused on the customer experience
ABA Banking Journal Podcast
How do community banks balance the need for cutting-edge technology and the human touch? On the latest episode of the ABA Banking Journal Podcast — — Pamela Montpelier of Ballston Spa National Bank talks about how a laser-like focus on customer experience can help drive growth. Among other topics, Montpelier discusses the use of AI-based tools to improve decision-making and help bank employees replace manual processes with time spent engaging clients. She also talks about her experience working with a variety of banks as a service provider executive, prior to which she was the...
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A place for regional banks: How BOK Financial finds and fills local needs
ABA Banking Journal Podcast
As president and CEO of $50 billion-plus BOK Financial, Stacy Kymes spends time thinking about the role of regional banks in the U.S. economy. On the latest episode of the ABA Banking Journal Podcast — — Kymes talks about how BOK Financial finds unique niches and meets the credit and capital market needs in its core mid-America markets. Among other topics, Kymes discusses: BOK Financial’s diversified business model that balances lending with fee businesses like an EFT network and treasury and wealth management. The role of Tulsa, Oklahoma-based BOK Financial in financing the...
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How a Latin American banking franchise is growing in South Florida
ABA Banking Journal Podcast
Miami is often described as the northernmost city in Latin America, or sometimes as Latin America’s business capital. On the latest episode of the ABA Banking Journal Podcast — — Banesco USA President and CEO Cali Garcia-Velez discusses how he and his team are growing a Latin American banking franchise in South Florida and Puerto Rico. Among other topics, Garcia-Velez discusses: The origins of Banesco USA, which is an independent U.S.-chartered bank that is part of a franchise of other Banesco banks across the Americas. Banesco USA’s growth plans in the turbocharged South...
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When going through a core conversion pays off
ABA Banking Journal Podcast
Most bankers dread the thought of a core conversion, but once that decision is made, the process can open up new opportunities for strategic growth. On the latest episode of the ABA Banking Journal Podcast — — Webster Five CIO Kate Megraw discusses her bank’s conversion and what she learned. Among other topics, Megraw explains: How a new core met the business strategy needs of Massachusetts-based Webster Five. The process of developing an RFP, exploring models and working with a core selection consultant. The role of commercial client growth in driving the need for a new core...
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‘At the end of the day, it’s all about financial empowerment’
ABA Banking Journal Podcast
As chief corporate responsibility officer for Webster Bank, Marissa Weidner works across the bank’s footprints and business lines to help advance the bank’s goals of financial empowerment. On the latest episode of the ABA Banking Journal Podcast — — Weidner discusses the many dimensions of how this takes shape at the northeastern regional bank. Among other topics, she explores: Webster’s focus on access to capital for small businesses, including those owned by minorities and women. How Webster designed its focused on homeownership. Webster’s innovative...
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More tools to tackle check fraud
ABA Banking Journal Podcast
Fraud is front and center for America’s banks, and on the latest episode of the ABA Banking Journal Podcast — — ABA’s Paul Benda and Peter Cook discuss several recent initiatives taken by ABA to help banks tackle fraud from a variety of fronts. Benda discusses ABA’s recently expanded , which is free to all banks and now encompasses other forms of fraud to facilitate prompt claims. He also explores new tools banks are using to tackle rising fraud numbers. Meanwhile, Cook discusses the latest incarnation of ABA’s award-winning anti-phishing campaign —...
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A Canadian bank’s versatile business model
ABA Banking Journal Podcast
Earlier this week, VersaBank on its purchase of Stearns Bank Holdingford N.A., giving the Canadian point-of-sale lender a point of entry into the U.S. market. On the season eight premiere of the ABA Banking Journal Podcast — — VersaBank founder and CEO David Taylor discusses the bank’s growth plans in the United States. Taylor also explores his career history in banking, the story of VersaBank as the first new bank to receive a license in Canada in 18 years, how the bank developed a deposit broker network in Canada, VersaBank’s point-of-sale lending strategy (and...
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Are credit unions overspending on marketing?
ABA Banking Journal Podcast
Consumers everywhere see and hear credit union marketing campaigns, from to big stadium and Super Bowl sponsorship deals. In fact, according to a from ABA’s Dan Brown and Robert Flock, credit unions spend more than double what comparable banks do on marketing as a percentage of net income. But why do credit unions, which serve members from defined fields of membership, spend so much? On the ABA Banking Journal Podcast, Brown and Flock break down the legislative and regulatory history of fields of membership and how the average credit union has more than doubled its “potential...
info_outline“We’re seeing banks that have never been scrutinized before for redlining and being told that they have risk that they have not before and risk in ways that they’ve never really viewed it before,” says Andrea Mitchell. “We’re in some new territory, and I think it’s important for CEOs to understand what their compliance officers and legal departments are seeing on the ground.”
In the latest episode of the ABA Banking Journal Podcast — sponsored by Alkami — Andrea Mitchell, a top fair lending attorney, reviews the latest trends in redlining enforcement. She reviews cases brought by the Justice Department, the importance of screening programs, planning for entering new markets, the role of peer analyses in managing redlining risk and the effects of redlining enforcement on M&A activity.
Mitchell also discusses the intersection of DOJ enforcement and prudential supervision, noting that “if your regulator thinks you’re doing very well, even in in terms of minority market lending, and is relying on your CRA rating, there’s nothing that prevents HUD or DOJ or other agencies from scrutinizing you.”