With the easing of restrictions that date to the recession, people, process and technology hold the keys to move banks forward.
While compliance burdens on community banks cannot yet be considered overly burdensome, these institutions need to prepare now for rising costs in the future.
As mainstream banks continue to struggle to serve the underbanked, a better approach to this market may be to support alternative providers.
Consumer Financial Protection Bureau executive David Silberman tells bankers what to expect now that retail product development falls under the new agency’s purview.
Community bank CEOs say they are spending an inordinate amount of time on regulatory compliance – and thinking about how this is impacting their customers.