ABA Banking Journal
April 26, 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.

Velocity Solutions, LLC
Does Your Bank Have Digital Lending FOMO?
Do you have digital lending FOMO? (fear of missing out). You should! Digital lending is the cloud-based technology that automates the entire lending process—from application and underwriting to funding—that allows your bank to provide consumer and business loans more efficiently. You should have some FOMO if your bank does not offer it, as the number of other banks and fintech companies that do are growing every day!
Read More
Industry News
April is Community Banking Month, and as it comes to a close, it’s a good time to reflect on some of the ways that community banks remain vital to Main Street. (ABA Bank Marketing)
Digital payment company Zelle sent $39 billion through its network on 147 million transactions during the first quarter of this year, with payment values going up 54 percent year over year, and payment volume increasing 72 percent. (PYMNTS.com)
The biggest bank merger since the financial crisis—February’s $28 billion tie-up between BB&T Corp. and SunTrust Banks Inc.—was supposed to spark a wave of copycats. But instead of the predicted bank combinations, lenders have pursued smaller non-bank acquisitions, from fintech firms to trading operations.  (Bloomberg)
Alloy Labs helps banks identify, evaluate and implement new ideas and tech that forge ideas into tangible results in a faster and more cost-efficient way. (ABA Banking Journal)
Data Center, Inc. (DCI)
On the latest episode of the ABA Banking Journal Podcast, United Bankshares President Rick Adams talks about United Bank’s experience with M&A and offers tips on providing quick and candid communication in the merger process. (ABA Banking Journal)
The U.S. economy's 3.2 percent annual growth rate in the first quarter was better than expected, as the latest economic report indicates that the nartion's 10-year recovery retains momentum. (New York Times)
Bank of America Corp. hired 4,700 people from low- and moderate-income areas in the last 18 months, putting it on track to meet a goal of 10,000 by 2023. Almost 30% of the consumer unit’s staff now come from so-called LMI neighborhoods, according to a recent stament from the company. (Bloomberg)
TSYS Merchant Solutions – 231
Small business trends from TSYS.
What should your small business customers be thinking about this year, and how can you serve them better? Take a look at the top-three trends for small businesses from one of the leaders in the payments industry. This quick write-up will give you valuable insights that apply to your day to day.
Click here to read more:
Policy News
In a letter to Senate members earlier this month, ABA offered support for S. 1200, the Secure and Fair Enforcement Banking Act—a bipartisan Senate bill that would enable financial services for legitimate cannabis-related businesses. (ABA Banking Journal)
Issues of capital and profitability are key themes in the FDIC’s interactions with fintech companies seeking banking charters, FDIC Chairman Jelena McWilliams said this week at an FDIC conference. McWilliams provided a broad update on the agency’s conversations with prospective applicants for industrial loan company charters. (ABA Banking Journal)
The FDIC is seeking public feedback on potential changes to its resolution planning framework for financial companies’ bank subsidiaries with over $50 billion in assets. (ABA Banking Journal)
Computer Services Inc
Cummins Allison
The National Credit Union Administration has requested public feedback on ways it can change its regulations on loan-based compensation to “provide greater flexibility.” (ABA Banking Journal)
The OCC is issuing a proposal to update its regulations on other real estate owned, or OREO—the first such update to the rules in two decades. (ABA Banking Journal)
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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

June 6-13, 2019
Stonier Graduate School of Banking
Philadelphia, PA

June 9-12, 2019
Regulatory Compliance Conference
New Orleans, LA

July 26-29, 2019
CRCM Exam Prep
Chicago, IL




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