ABA Banking Journal
August 28, 2020

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.

Nuance Communications Inc
Compliance Waits for No One: How to Gain Efficiency in these Challenging Times
Al-powered technological advancements have prepared the financial industry to help customers better today than a decade ago. One tool that offers compliance and risk professionals needed support is Dragon Professional Anywhere
Click to learn more
Industry News
Seamless processes connecting loan officers’ personal service and digital convenience make customers comfortable for the biggest purchase they may ever make.
Gains in satisfaction from before the coronavirus pandemic boosted overall consumer satisfaction with credit card issuers in 2020, according to the most recent J.D. Power 2020 Credit Card Satisfaction Study.
Cybersecurity in the financial sector is becoming more integrated with the IT functions, according to a survey of chief information security officers released recently by Deloitte and the Financial Services Information Sharing and Analysis Center.
Data Center, Inc. (DCI)
Computer Services Inc
Jack Henry & Associates, Inc.
New Deposits at a Fraction of the Cost
By utilizing two key Jack Henry solutions, the SilverLake System® core processing platform and the Banno Digital Platform™, St. Louis-based Midwest BankCentre launched a separately branded digital institution (Rising Bank) in only six months. In its first year, Rising gathered over $130 million in new deposits at a fraction of the cost of traditional branch banking.

Read the Celent case study.
Policy News
The Federal Housing Finance Agency has delayed a 50 basis point fee it had planned to start imposing on Fannie Mae and Freddie Mac refinanced mortgages.
ABA and the Florida Bankers Association began running new voter education ads last week thanking Rep. Stephanie Murphy (D-Fla.) for her support for Florida families and small businesses during the coronavirus pandemic.  
The Consumer Financial Protection Bureau is beginning its biennial review of the consumer credit card market, as mandated by the Credit CARD Act. The next report is due in 2021.
Financial innovation can deliver “tremendous benefits” to consumers and help minority depository institutions enhance participation in the mainstream financial system, FDIC Chairman Jelena McWilliams said at a webinar hosted by the American Financial Exchange.
Appraisal Institute
Cummins Allison
Columbia Business School Executive Education®
The Strategic Leader Program (Live Online): How to Excel as Your Responsibility Increases
Designed for leaders transitioning to senior executive roles, this six-day program from Columbia Business School Executive Education broadens your knowledge, perspective, and understanding of strategic leadership, equipping you to deal with the demands of the more complex and disruptive environment of tomorrow.
The program offers concepts and tools that will enable you to enhance your personal, strategic, and interpersonal effectiveness.
The program begins October 4.

Learn More

September 1
Webinar: Boost Mortgage Efficiencies to Meet Borrower Demands

September 8 - October 2
Facilitated Online Training: The Banking Industry

September 9
Webinar: Preventing ATM Crime: The Do’s and Don’ts for Safeguarding ATMs

September 14 - October 30
Facilitated Online Training: Analyzing Bank Performance

September 14 - November 13
Facilitated Online Training: Legal Foundations in Banking

September 15
Webinar: The Top Strategic Risk Metrics Your Board Needs for 2021 and Beyond

September 15
Webinar: Launching a Prize-Linked Savings Program in 90 Days

October 19-20
ABA Unconventional Convention

Coronavirus News
If banks go into sports relationships with a long-term view, they can find success.
As new data has emerged, it appears that states that were faster to reopen saw increased coronavirus spread with uneven economic benefits.
Consumer credit delinquencies rose in all 11 closed-end loan categories in the first quarter of 2020 as the coronavirus pandemic and subsequent economic slowdown began in the U.S., according to the mos recent ABA Consumer Credit Delinquency Bulletin.
The federal banking agencies have finalized several rules originally issued as interim final rules during the spring weeks of the emergency coronavirus response.
ABA recently welcomed the bipartisan Rural Equal Aid Act, which would provide six months of payment relief for borrowers using the U.S. Department of Agriculture’s Rural Development loan programs.
While it is too early to assess the full effects, COVID-19 will permanently reshape commercial real estate in the U.S.
In a comment letter to the Consumer Financial Protection Bureau, the ABA supported a recent interim final rule granting flexibility under Regulation X for servicers to offer deferral options to borrowers as they transition from forbearances for financial hardships due to the coronavirus pandemic.



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