Community banking
The new year will bring an end to big regulatory settlements with banks, a sharp drop-off in the number of branches across the industry, increased use of biometric technology and a breakthrough in banks' use of big data. American Banker editors discuss these and other predictions for the year ahead in banking.
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The finalization of the Volcker Rule signals that banks have reached "the height of the regulatory burden that has been placed on banks" since 2008, according to ConnectOne CEO Frank Sorrentino III. Now bankers just need to figure out how to fully comply with these new rules. Sorrentino, also a board member of the American Bankers Association, discusses his outlook for industry regulation in 2014.
January 7 -
Compliance issues and regulatory worries can prevent many banks from embracing much new technology internally - especially when it comes to the tricky waters of social media like Twitter. Frank Sorrentino III, CEO of the New Jersey community bank ConnectOne, discusses why he and his bank are so active on Twitter, and why other bankers shouldn't let worries about compliance block them from being innovative.
December 27
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Most bankers are reluctant to shrink the size or number of their physical locations, but for the New Jersey lender ConnectOne, "the primary channel is no longer the branch on the corner." CEO Frank Sorrentino III discusses how ConnectOne has expanded its business in the competitive New York market by embracing technology instead of building many branches.
December 26 -
The Volcker Rule may be finalized, but bankers still face many looming questions about the final shape of the Dodd-Frank financial reform law and other pending financial regulations. American Banker editors discuss what to expect in 2014 from regulators including the Federal Reserve, the Federal Housing Finance Agency and the Consumer Financial Protection Bureau.
December 23 -
Banks are increasingly trying to make up for lost revenue by charging new fees -- which can anger their customers. But banks that add checking account fees carefully and transparently can maintain good customer satisfaction, according to J.D. Power's Rocky Clancy, who shares his other tips for charging fees with American Banker.
December 19 -
PNC's decision to slim down and overhaul its branch network could inspire other banks to follow suit and finally start rethinking their expensive and outdated physical locations. American Banker editors discuss why most banks need to close down more branches, and why some regional and community banks remain committed to their existing networks.
December 17 -
The first new bank in three years recently cleared the hurdles necessary to open its doors. To do so, Bank of Bird-in-Hand's backers had to file 18 inches of paperwork, raising the question of whether regulators have become so strict that they'll encourage financial innovators to go elsewhere and leave community banks to languish.
December 12 -
Banks' reputations have started to recover from the beating they took after the financial crisis, according to several recent surveys. American Banker reporters discuss how better technology has helped banks' customer satisfaction levels return to pre-crisis levels, despite ongoing reputational issues for some of the biggest banks.
December 12 -
Mid-size regional banks are facing the highest level of customer attrition, squeezed by better service at small banks and better distribution and scale at larger rivals, according to J.D. Power. Rocky Clancy, vice president of financial services at J.D. Power, discusses how certain regional banks, including Cullen/Frost (CFR) and Huntington (HBAN), are outperforming and setting an example for other banks' customer satisfaction levels.
December 10
