ABA Banking Journal
September 1, 2017

This ABA Banking Journal newsletter is a free, twice-monthly supplement to the ABA Banking Journal magazine intended to help you stay on top of industry and policy news. You can also stay abreast of banking news by visiting aba.com/BankingJournal, home to ABA Daily Newsbytes and other email bulletins.

Industry News
An inside look at how one community bank is helping its neighbors—and itself—recover after Hurricane Harvey. (ABA Banking Journal)
 
By coupling financial data with artificial intelligence, banks can revolutionize the customer experience and gain a competitive edge. (Venture Beat)
 
Goldman Sachs Group Inc is shifting away from cost-cutting with plans to add about half a dozen senior bankers and invest more in Asia, according to a report by The New York Times. (The New York Times)
 
Banks and fintech startups, once at odds, are finding that a balance between costs and innovation is important — even to millennials. Now, they are beginning to collaborate and even integrate. (The Cointelegraph)
 
Data Center, Inc. (DCI)
Verint Systems
Despite being surrounded by flood waters, Hong Ogle, Bank of America’s Houston market president, has led her bank’s efforts to help the city recover from Hurricane Harvey. (The Charlotte Observer)
 
Because marijuana is still illegal on the federal level, it's difficult for banks to fund marijuana distribution companies. But First Green Bank, a community bank in Orlando, is going for it anyway. (Tampa Bay Times)
 
Wealth management, like other sectors of the banking industry, is confronting a major question: What exactly is the right blend of human and digital resources to bring to bear in best serving clients? (ABA Banking Journal)
 
Additional banks have joined on in support of UBS's blockchain initiative, which will speed up inter-bank settlements. (Coindesk)
 
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Policy News
The Department of Labor today proposed to extend to July 1, 2019, the applicability date for certain exemptions to the fiduciary rule. The extension would apply to the best interest contract exemption, principal transactions exemption, and prohibited transaction exemption 84-24. (ABA Banking Journal)
 
In a letter to Acting Comptroller of the Currency Keith Noreika, the American Bankers Association highlighted key questions that regulators and policymakers should consider concerning the deposit insurance application process for de novo banks. (ABA Banking Journal)
 
Computer Services Inc
LexisNexis Risk Solutions
Speaking to the annual monetary policy conference in Jackson Hole, Wyo., today, Federal Reserve Chairman Janet Yellen offered a broad defense of the post-financial crisis regulatory framework but embraced "appropriate adjustments" as the economy and global landscape evolve. (ABA Banking Journal)
 
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