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2013 State Legislative Session: Impact on New York Community Banks
Tuesday, September 10, 2013 (893 reads)


The 2013 session of the New York State Legislature ended in late June in yet another late-night wrap-up. When the dust cleared, IBANYS had succeeded in obtaining passage of a number of our priority issues, and in opposing and fending off a number of other proposals that would have had a negative impact on community banks.



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Leveraging New Technologies to Reduce Costs
Tuesday, September 10, 2013 (2204 reads)


As you invest in new technologies, much of the focus is on the sign-up phase – getting customers to sign up for mobile banking, e-statements, or Internet banking. Clearly, it is important to get folks signed up as the first step, but that’s not the desired result – the intent is to get customers to adopt behaviors that reduce your operating costs, and improve customer satisfaction.



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Developments in Fair Lending
Tuesday, September 10, 2013 (3474 reads)


In response to the recent housing and foreclosure crisis, the Department of Justice (DOJ) has made fair lending issues a top priority. In 2010, the DOJ established a Fair Lending Unit in the Civil Rights Division’s Housing and Civil Enforcement Section in order to devote more resources to fair lending enforcement.



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Steps for Preparing Your Bank for Sale
Tuesday, September 10, 2013 (925 reads)


Bankers are increasingly discussing M&A in light of the brutal net interest margins, compliance costs and tepid growth in lending. But it’s not just the big banks that are doing so.



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One Master Plan Can Save Time, Money
Tuesday, September 10, 2013 (1073 reads)


There’s no question that the financial services industry is besieged by regulations right now. The Dodd-Frank Act alone has already created a number of new regulations, and over the next few years, several more will roll out that will keep financial institutions busy. This is on top of other regulations and laws targeted at financial institutions that are scheduled to come online in the near future.



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Hitting Your Mark VS. Doing The Right Thing
Tuesday, September 10, 2013 (30705 reads)


Benjamin Lawsky has developed a reputation for taking on compliance problems that have festered for years. The low-key superintendent of the Department of Financial Services, an agency created in October 2011, took on Standard Chartered Plc last year regarding its handling of dollar-clearing services to Iran, a country under U.S. economic sanctions.



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Financial Firms, Online Banks Working to Protect Customers from Bank Fees
Tuesday, September 10, 2013 (847 reads)


 

Lately, some banking customers have begun to feel an ill wind from overdraft fees. MoneyRates.com reported in a survey that average overdraft fees rose by 18 cents in a recent survey, reaching an average of $30.01 per occurrence; but the significance of this fee depends on how consumers use their checking accounts. Since overdraft fees are usually assessed for each transaction that occurs while the account is overdrawn, even a few mistakes can cause these fees to run into the hundreds of dollars – but busy entrepreneurs and financial companies across the country are coming up with ways to combat fees and save clients money.



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Counter-Intuitive Lending Joseph Ficalora, President and CEO of New York Community Bank
Tuesday, September 10, 2013 (1773 reads)


New York Community Bank has been in the multifamily lending business for 40 years, 20 of them as a publicly traded company. Its parent company, New York Community Bancorp Inc., is currently the 20th largest bank holding company in the country, and a leading producer of multifamily loans in New York City, specializing in apartment buildings with below-market rents. However, it has yielded investors a 3,415 percent return on investment over its history as a public company, factoring in nine stock splits.



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Berkshire Bank Expands Mass.-Based Bank Acquires 20 BofA Branches in New York
Tuesday, September 10, 2013 (5900 reads)


Berkshire Bank is writing the latest chapter in the story of its ever-expanding geographical footprint with its recent acquisition of 20 Bank of America branches in upstate New York.
Executives at Berkshire Bank announced the deal late in July, just a day ahead of their second-quarter earnings release, which president, chairman and CEO Michael Daly characterized in a conference call as “extremely disappointing.”



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Responsibility for Today’s Technologies Starts in the Board Room Four Steps to Mitigating Risks and Generating Returns
Tuesday, September 10, 2013 (1036 reads)


Digital technologies, including social media, smartphones, the cloud and big data, have transformed our personal lives. They have enabled all of us to connect and communicate with our friends and family, manage our savings, invest and share advice no matter where we are and what device we are using. The bottom line: It’s time to turn those technologies into business benefits, particularly when it comes to corporate governance, organizational strategy and capital allocation. And the responsibility for driving that digital adoption starts (and ends) with the board.



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Preparing for Basel III What Smart Bankers are Doing Now
Tuesday, September 10, 2013 (1233 reads)


There is a growing level of alarm among bank executives about a new topic – how to make sure your capital grows and avoids risk in light of Basel III.
They’re right to worry. It could be a show-stopper for those who don’t get prepared right now.
Doing what you’ve done in the past and hoping for a better result is probably not going to work out well in this environment. Instead, let’s figure out what you need to do differently to make sure you don’t get caught with your pants down when the perfect storm of bad economy, increasing rates and Basel III all slam together.



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