ABA Banking Journal
August 16, 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
This Isn’t Your Dad’s Economy: Americans are Struggling and Community Banks Can Help
Sponsored By: Velocity Solutions According to leading economic indicators in June 2019, the US economy is doing well. It has steady growth, low unemployment, and little inflation¹. In fact, June marks the 10th straight year of a growing economy², and we’re on track to break the prior record of economic expansion.
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Industry News
Former Comptroller of the Currency Eugene Ludwig talks about the current state of artificial intelligence in banking and the outlook for community banks and compliance professionals. (ABA Banking Journal)
 
While the vast majority of American teenagers still rely on cash when receiving money from their family and when making purchases, fintech is making inroads in young people’s lives, according to new data from Junior Achievement USA and Alliance Data. (Think Advisor)
 
How smaller banks looking for a turn at the M&A table can prepare for the best possible deal. (ABA Banking Journal)
 
Data Center, Inc. (DCI)
FINASTRA
About $68 trillion in U.S. wealth is expected to change hands in the next 25 years, according to research firm Cerulli Associates. Yet as wealthy individuals plan for how to pass on those assets, many are not discussing it with their heirs. (CNBC)
 
The rise of online channels and the corresponding decline of in-branch transaction activity has led many financial institutions to reduce the scope of their branch networks in recent years. Yet amidst those trends, some of the largest banks in the U.S., many of which led the closure wave of the last decade, have announced sizable branch expansion initiatives. (ABA Bank Marketing)
 
Americans today are less prepared for retirement than previous generations, with half of all U.S. households at risk of a lower standard of living after they leave the workforce, according to a report by the Joint Economic Committee Democrats. (The Hill)
 
Loomis US corp
Streamline your operations with Loomis.
Backed by the industry’s largest cash distribution network, advanced technology, and unmatched support and service, Loomis Managed Cash Services are designed to help financial institutions cut costs, reduce risk, diversify client offerings, and increase presence without having to grow your physical footprint. Simplify your day-to-day bank operations with a comprehensive solution and a reliable partner for all your cash management, cash-in-transit, ATM, and Treasury Management needs.
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Policy News
The nation’s largest banks have made progress in their efforts to become more diverse and inclusive, but room for improvement remains, according to new data released by the House Financial Services  Committee. (ABA Banking Journal)
 
In a long-awaited decision, the Federal Reserve has announced it would develop FedNow, its own 24/7/365 real-time settlement service designed to serve all U.S. depository institutions. (ABA Banking Journal)
 
Computer Services Inc
Cummins Allison
In a letter to House Financial Services Committee Chairwoman Maxine Waters (D-Calif.), Ranking Member Patrick McHenry (R-N.C.) called for a hearing on cybersecurity and data protection in the financial services sector in response to concerns raised by industry leaders and recent data breaches. (ABA Banking Journal)
 
Just prior to going into its August recess, the Senate passed an ABA-opposed bill that would significantly raise the current debt limit for Chapter 12 bankruptcy filings. (ABA Banking Journal)
 
Salesforce.com
Integrated Marketing & Sales for Banking
Alignment between marketing and the front line bankers and wealth managers in an organization is critical to success, but these teams will only work well together when they’re pursuing the same goals and have been empowered with the same actionable data. Learn how marketing automation can help bridge the gap between marketing and sales by working with your CRM to create a single source of truth for your organization.
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Events

Aug 19-22​, 2019
Risk Management School - Advanced 
Reston, VA

Aug 19-23​, 2019
Risk Management School - Foundational 
Reston, VA 

Sep 16-18, 2019
CFO Exchange
Louisville, KY

Sep 22-24, 2019
Bank Marketing Conference
Austin, TX

Sep 22-27, 2019
Trust Schools​ - Foundational, Intermediate and Advanced 
Atlanta, GA

Sep 23-25, 2019
Insurance Distribution Exchange
Austin, TX

Oct 27-29, 2019
ABA Annual Convention
Seattle, WA

 
 

 

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