The new credit loss standards may seem like one more hurdle to clear. But played correctly, they’ll help smaller banks gain new efficiencies.
Grappling with potential wire transfer fraud requires financial institutions to strengthen due diligence procedures.
The recent wave of regulation puts the burden on banks to improve their technological platform for responding to these challenges.
Even though most large banks passed the recent Federal Reserve stress tests, smaller institutions should prepare for dramatically adverse economic scenarios as well.
By throwing mega banks into fee income turmoil, the Durbin Amendment presents a lucky break to community banks – if they’ve prepared well enough to take advantage of it.
Prepaid cards need clearer fee disclosure requirements and a ‘Schumer Box’-type model would be helpful.