What the C-suite needs to know about redlining enforcement
Release Date: 06/27/2024
The behavioral psychology of the Christmas savings club
ABA Banking Journal Podcast
In this holiday bonus episode — — host Evan Sparks digs into the Banking Journal archives to learn more about the “Christmas Club” savings vehicle, and what this financial product says about human psychology and behavioral economics. .
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Making the feeling ‘mutual’ for a new generation of bank customers
ABA Banking Journal Podcast
“Well, your money’s in Joe’s house, that’s right next to yours. And in the Kennedy House, and Mrs. Macklin’s house, and, and a hundred others. Why, you’re lending them the money to build, and then, they’re going to pay it back to you as best they can.” Seventy-eight years ago, George Bailey memorably explained the operation of a mutual savings and loan to a national audience in It’s a Wonderful Life. But while today’s bankers understand mutuality, do today’s potential clients? On the latest episode of the ABA Banking Journal Podcast...
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Opportunities in the Congressional Review Act, the ‘other CRA’
ABA Banking Journal Podcast
The rarely used Congressional Review Act provides an opportunity for Congress and the president to overturn regulatory rulemakings — and the GOP trifecta in 2025 will bring new regulations up for review. On the latest episode of the ABA Banking Journal Podcast — — ABA experts Kirsten Sutton and Ginny O’Neill break down details about CRA that bankers need to know: Which rulemakings are subject to CRA disapproval resolutions — in financial services, principally and the . How the GOP Congress might prioritize regulatory actions for CRA resolutions. The...
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What you need to know about beneficial ownership and customer due diligence in 2025
ABA Banking Journal Podcast
Saved by the bell? Millions of American businesses faced a January 1 deadline to register their beneficial owners with the Financial Crimes Enforcement Network — until a federal judge yesterday stopping FinCEN from enforcing the deadline. On the latest episode of the ABA Banking Journal Podcast — — ABA experts Heather Trew and Jonathan Blum discuss: What bankers and their business clients need to know about the preliminary injunction and its provisions. How the preliminary injunction does not affect financial institutions’ customer due diligence requirements —...
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Memory, nostalgia and the power of sonic branding
ABA Banking Journal Podcast
Advertising jingles: corny or clever? “Imagine the repetition over years in a community that hears it regularly,” says Clark Hook of Financial Marketing Solutions. “It’s whether you love or hate jingles, you cannot deny the power of that mnemonic device to put attribution to the things you’re putting into the world.” On the latest episode of the ABA Banking Journal Podcast — — we take a look at bank jingles past and present. Expert bank marketers discuss: How and why community banks still find value in their jingles. The use of “sonic branding” and audio...
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Why middle market businesses are growing more optimistic
ABA Banking Journal Podcast
Middle market businesses don’t get the attention of the Fortune 500 or the love that small businesses get from policymakers, but these firms are still — accounting for a third of private-sector GDP and employing up to 50 million Americans. On the latest episode of the ABA Banking Journal Podcast — — KeyBank commercial bank president Ken Gavrity discusses the outlook for the middle market, defined as businesses with annual revenues of $10 million to $1 billion. Among other topics, Gavrity discusses: Why middle market business leaders have . How middle...
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Tax reform comes into focus for 2025
ABA Banking Journal Podcast
The Republican sweep of the presidency and Congress, with extremely narrow control of the House, sets up tax policy as a major issue in 2025. With many provisions of the 2017 Tax Cuts and Jobs Act expiring at the end of next year and tax policy changes able to be passed on a simple-majority basis through budget reconciliation, bankers can expect to see tax policy front and center. On the latest episode of the ABA Banking Journal Podcast — — ABA VP Joey Connor discusses what to expect from the tax policy debate in 2025, including: The priority of extending Section 199(a)...
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Strategies to help America’s agricultural producers
ABA Banking Journal Podcast
With commodity prices falling and producer expenses rising, it’s a difficult moment for America’s agricultural economy. On the latest episode of the ABA Banking Journal Podcast — — Dakota Mac loan production officer Caleb Hopkins discusses strategies ag lenders are using to support their clients through this cycle. As chair of ABA’s Agricultural and Rural Bankers Committee, Hopkins also provides a preview of the upcoming . .
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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...
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.”