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Q&A: The OCC’s Joseph Otting

Q&A: The OCC’s Joseph Otting

As the 31st comptroller of the currency at the OCC, former banker Joseph Otting is tasked with ensuring the safety and soundness of the federal banking system. Here, he talks about regulatory challenges, the potential fintech banking charter and what he sees as the path forward for community banks. In your view, what banking policies

Solving the mortgage refinancing puzzle

It’s mortgage season once again—and it could be a good time to help customers examine their refinancing options. What are the considerations for both borrower and bank? By Katie Kuehner-Hebert Interest rates are set to move higher again this year, which means mortgage rates are also likely to rise. Banks that make mortgages should take

The community bank as community college

Providing financial education to your small-business customers can improve the health of their companies—and yours, too. By William Atkinson Most community banks make it a priority to lend money to local people starting and building businesses, but new research suggests that, if they really want to help these businesses grow, they should also focus on

How could regtech ease the compliance burden?

Community banks are increasingly turning to regulatory technology to help them be more efficient and effective in their compliance efforts. By Karen Epper Hoffman With the industry abuzz about all things fintech, it can be easy to forget that technology is being applied to support and streamline banking efforts in compliance as well as retail

Two approaches to overdrawn accounts

What community bankers should know about overdraft and sweep account rules. By Mary Thorson Wright When a customer makes a transaction that overdraws their bank deposit account without a corresponding overdraft plan, they are, in essence, asking the bank for an unsecured loan. Community banks can and do return overdrawn payments—a practice that can be

Chris Lorence: Money isn’t everything

It’s opportunities that really matter. By Chris Lorence With the recent reductions in business taxes, many community banks are evaluating their employee pay scales. Some have already increased hourly rates for nonexempt staff and given salary increases to many exempt staff as a result. The increase in wages will certainly provide a shot in the

Phishing: Don’t take the bait

Phishing has become a primary method for cybercriminals to plant malware and ply fraud on unsuspecting bank employees and customers. As their techniques become more sophisticated and their attack surface broader, community banks are finding themselves in the crosshairs. By Karen Epper Hoffman In studies and surveys and anecdotes, it is often pointed out that

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