This year has largely been a quiet time for regulatory and compliance reform. But while community banks were focused on the economic recovery of their communities, a few changes came during 2021.
The CARES Act extended the CECL implementation deadline for many larger community banks until the end of the COVID-19 pandemic. Community bankers tell us that while the extension is welcome, they’re already down the road to implementation.
In an effort to help financial institutions expand access to credit, the CFPB recently addressed regulatory uncertainty around special-purpose credit programs, or SPCPs. These programs are intended to help those who would not otherwise have access to credit.
The more community banks grow, the more risk they take on. Chief risk officers are the ones behind the scenes making growth possible. Four CROs sound off on their increasingly important role within community banks.
Hispanic customers and business owners are vital members of their communities. Here’s how some community banks are reaching this diverse demographic’s unique and varied needs.
Community banks are complex organizations with a multitude of liabilities. That’s why having sound legal advice from a firm or general counsel is increasingly necessary. Here’s what to consider when hiring a firm or internal legal professional.