Past Issues | VBA Event Calendar | www.vabankers.org | Latest Issue of Virginia Banking Magazine | |||||||||||
May 2020
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The Virginia Banking eNewsletter is a monthly supplement to Virginia Banking magazine, intended to help you stay on top of industry knowledge via current trends data and insights. From the VBA
As businesses nationwide begin preparations for employees to return to the workplace, VBA is gathering information on how Virginia banks are working to restore normal business operations and how they will approach reopening branch lobbies and other facilities, employee health screenings and travel policies, among other things. We have developed a Return to Normal Operations resource webpage with new information and updates. Resources include:
You can explore those resources here. We will continue to update this page as more information becomes available.
Bankers On The Move & Recent Promotions
Industry News & Trends
In this column, ABA President and CEO Rob Nichols shares the many ways that bankers' personal efforts, combined with banks’ institutional responses — waiving fees, offering low-rate personal loan programs, deferring payments and even effectively fronting customers their economic impact payments — demonstrate that banking is first and foremost about helping others through this pandemic. (American Bankers Association)
The Consumer Financial Protection Bureau (CFPB) has issued guidance that mortgage servicers should use to facilitate compliance and prevent harm to consumers during the transfer of residential mortgages. (CFPB Journal)
Fraudsters are attempting to intercept stimulus checks, set up bogus charities and defraud applicants for unemployment benefits. In this podcast, Mike Litt, consumer campaign director of U.S. Public Interest Research Group, discusses what can be done to stop them. (American Banker)
Many financial institutions are sitting on heavy concentrations of commercial real estate portfolios that are going to need significant assistance in the next six to 12 months. Without significant help, borrowers that were on the brink before COVID-19 will not survive. Borrowers that require a banner summer season to make their books tint green for the year are also in serious trouble. (Gonzo Banker)
Social engineering scams, such as fraudulent instruction, continue to affect consumers and businesses alike. In a bank’s case, fraudulent instruction occurs when an employee is tricked into transferring money from a customer’s account to somewhere else because a fraudster has stolen the customer’s identity. By following best practices, you can help prevent fraudsters from making your bank a victim. (Traveler's Insurance)
Welcome New Associate Members
VBA Announces New Endorsed Provider: Genesys Technology Group New Associate Members Mortgage & Real Estate Services/Employee Benefits IT Consulting & Services/Security Services Credit & Lending Resources/Mortgage & Real Estate Services New Financial Services Associate Members Compliance Services |
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