ABA Banking Journal
April 12, 2019

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.

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Industry News
More than 9,800 bankers hosted financial education events across the country this week in celebration of Teach Children to Save Day today. Since 1997, this ABA financial education initiative has reached 10.5 million children with the help of more than 260,000 banker volunteers.(ABA Banking Journal)
Community lenders say their tech providers aren’t always helping them compete, in this article examining the challenges that many community banks face when working with their core processors to implement new technologies and remain competitive with larger institutions. (Wall Street Journal)
With $1.7 billion in assets, Nebraska's Cornerstone Bank offers a correspondent banking division, a data center to handle core processing for two dozen smaller banks, loan participations that enhance the balance sheet of small community banks—and even an armored car service. On the latest episode of the ABA Banking Journal Podcast, Cornerstone's Kristie Holoch discusses how the bank partners with community banks. (ABA Banking Journal)
Data Center, Inc. (DCI)
A community bank turns a business convenience into a source of data that deepens the commercial customer relationship. (ABA Banking Journal)
Bank of America is raising its starting wage to $17 an hour beginning in May in a longer-term effort to increase it to $20 by 2021. The retail banking giant currently pays $15 an hour to start. The raise will affect tens of thousands of the bank's 205,000 employees at its 4,300 U.S. locations, according to the company. (USA Today)
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Policy News
Federal Reserve Governor Michelle Bowman expressed concern that regulatory complexities and compliance issues could be hindering community banks’ approach to innovation. In remarks at a recent event at the Federal Reserve Bank of San Francisco, she offered her thoughts on steps the agency could take to foster innovation and collaboration between community banks and fintech firms. (ABA Banking Journal)
ABA has joined more than 100 trade organizations in a letter of support for H.R. 216, the Main Street Tax Certainty Act of 2019—a bipartisan bill that would make permanent a provision of the 2017 tax reform law enacting a 20 percent deduction for certain qualified business income received from pass-through entities such as partnerships or businesses operating under a Subchapter S election. (ABA Banking Journal)
Computer Services Inc
Cummins Allison
Allianz Chief Economic Advisor Mohamed El-Erian thinks that the U.S. Federal Reserve has taken too drastic of a swing from overly hawkish in late 2018, over too far in the other direction in 2019. While such a swing is not expected to hit the U.S. economy in a big way, it has contributed to greater volatility in financial markets globally. (CNBC)
Cybersecurity and the slowing of the global economy are two key issues of concern, the CEOs of the nation’s largest banks told the House Financial Services Committee this week. During the almost seven-hour hearing, the CEOs also discussed changes their banks have made since the financial crisis that have increased the safety and soundness of both their individual firms and the financial sector. (ABA Banking Journal)
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Apr 23-30, 2019
Bank Marketing School
Atlanta, GA

Apr 27-30, 2019
Commercial Lending Schools
Dallas, TX

Apr 27-28, 2019
Financial Statement Analysis Workshop
Dallas, TX

Apr 29-May 1, 2019
American Mortgage Conference
Pinehurst, NC

May 1-3, 2019
ABA-Wharton CEO Lab
Philadelphia, PA

May 21-22, 2019
Payments Forum
Washington, DC




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