ABA Banking Journal
May 21, 2021

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®
Eastern Bank Virtual Fireside Chat
Join us June 23, 2021, at 11:00 a.m. EST Discover how the largest and oldest mutual bank in the United States uses voice biometrics to innovate their customers’ experiences. Looking to replace security questions with a better and more effortless experience, Eastern Bank uses voice biometrics to compare the customer’s voice to their unique voiceprint, silently signaling to the bank representative when the customer’s identity has been verified and granting them access to their account.
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Industry News
On the latest episode of the ABA Banking Journal Podcast, Brian Miller, the Treasury Department special inspector general for pandemic relief, discusses the effectiveness of COVID relief programs and investigations into fraud involving these programs.
 
Banks that speak about their performance showing up for the country in a moment of need are connecting to new customers and building brand.
 
Banks and credit unions are the most trusted financial institution, according to a new survey released by Morning Consult, with 61% of consumers saying they “naturally trust banks.”
 
Data Center, Inc. (DCI)
Western Union Business Solutions
Fighting credential stuffing requires planning and coordination across security, fraud, technology and customer experience teams.
 
Consumer prices for April showed a 4.2% year-on-year increase today, outpacing analysts’ expectations. What does rising inflation mean for the path of the economy in 2021? On this episode of the ABA Banking Journal Podcast, ABA Economic Research Specialist Hugo Dante goes beyond the headlines with inflation figures.
 
The share of unbanked American adults dipped to 5% in 2020, according to the Federal Reserve’s latest annual Report on the Economic Well-Being of U.S. Households.
 
Jack Henry & Associates, Inc.®
The Key to Painless Data Conversions
With mergers, acquisitions, and other changes affecting your financial systems, data conversion projects are inevitable for most banks yet often feared. But it doesn’t have to be painful. With proper planning and the right tools, data conversions can go smoothly. Some key steps up front in your planning can make a huge difference. That’s why we’ve compiled a toolkit of what to consider before, during, and after a conversion.
For valuable conversion insights from experts and peer banks, download our free Conversion Tips Toolkit.
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Policy News
In a virtual meeting with Treasury Secretary Janet Yellen this week, the ABA board and Yellen discussed the current state of the economy and the role banks can play in facilitating robust economic growth in both the short term and long term.
 
ABA, along with five financial services trade groups, released a white paper today outlining obstacles and solutions for improving financial inclusion for the unbanked population and for reducing the use of high-cost nonbank financial products and services.
 
The FDIC will soon issue a request for information to seek additional information on how banks are using or planning to use digital assets, and “what, if anything, the FDIC should be doing in this space,” FDIC Chairman Jelena McWilliams said in remarks during an industry event.
 
ABA expressed support for the bipartisan New Markets Tax Credit Extension Act: “By making NMTC permanent, our nation’s small businesses, investors and community development professionals will have access to the vital resources needed to improve our nation’s communities while generating long-term economic growth.” 
 
Wolters Kluwer Financial Services
Capco
The economic projections coming out of the Federal Open Market Committee’s April meeting were slightly stronger than the group’s March forecast. In minutes from the committee’s April 27-28 meeting, members said that real GDP growth was projected to post a “substantial increase” this year, along with a “rapid decline” in the unemployment rate.
 
ABA and five other trade groups have urged House and Senate appropriations leaders to support $1 billion in funding for the Community Development Financial Institutions Fund in fiscal year 2022, with $100 million allocated for the Bank Enterprise Award Program.
 
Ahead of oversight hearings of the prudential regulatory agencies, ABA called on Congress to address the changing face of large credit unions.
 
Columbia Business School Executive Education®
Behavioral Science in Business (Live Online): Understanding People to Drive Results
In this hands-on program from Columbia Business School Executive Education, discover how you can effectively, efficiently, and ethically influence people's behavior to meet your business objectives and learn how to scale those behavioral science capabilities across your organization.
 
The program equips you with the tools to implement and measure the impact of behavioral science in business, using the proprietary Full Cycle Approach to Applying Behavioral Science™.
 
The program begins October 25.

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Training

May 25 - 27
Virtual School: 2021 Payments Strategy School

June 1 - 25
Facilitated Training: Marketing in Banking

June 2
Webinar: If You Build It, They Will Come: Adding or Expanding Mortgage Operations to Attract New Customers

June 3
Webinar: Valuation Principles and Issues

June 4 - 11
Virtual School: Stonier Graduate School of Banking

June 7 - July 2
Facilitated Training: Bank Lines of Business

June 7 - July 9
Facilitated Training: Managing Funding, Liquidity and Capital

June 9
Webinar: The Changing Core Platform Environment: An Update on ABA's Core Platforms Committee

June 10
Webinar: Avoiding UDAAP Pitfalls: Recognizing and Addressing Risk in Marketing and Advertising

June 14 - August 20
Facilitated Training: Introduction to Mortgage Lending

June 14 - September 3
Facilitated Training: Commercial Lending

June 22 - 24
Virtual Conference: Regulatory Compliance Conference

 

 
 

 

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