Demographics

A survey of 50 bank CIOs conducted by American Banker found CIOs' daily lives are still dominated by the need for state-of-the-art customer-facing technology, security concerns and concerns around business strategy and revenue growth.

While hiring a chief risk officer is a given at the big banks, smaller institutions must weigh several factors and options in determining the risk leadership model that works for them.

At this year's EMERGE Forum in Austin, Texas, the Financial Solutions Lab — a $30 million, five-year initiative managed by the Center for Financial Services innovation with founding partner JPMorgan Chase — revealed the winners of a recent competition for apps that tackle consumers' cash flow challenges. The nine winning organizations, chosen from 298 applicants and 14 finalists, received a combined $3 million, along with mentorship, networking, peer learning and national partnership opportunities. The following is a look at their solutions to the problems of the working poor and others ill-served by traditional financial products.

On top of dealing with cyber threats and other potential dangers to banks, CROs are deeply involved these days in discussions over investing in new products and business lines.

Cyber threats or fraud may present bigger direct risks to banks, but many chief risk officers spend enormous amounts of time on the more tangible concern of keeping up with ever-growing regulatory expectations and requirements.

A role many people did not understand less than a decade ago has become integral to how banks navigate a new set of postcrisis hazards.

The financial crisis and its aftermath elevated the stature of CROs. The true test of their new clout will come during the next market expansion.

American Banker Research conducted a detailed online survey of 49 risk management executives from our readership as part of the inaugural C-Suite Series. The respondents included risk managers from banks with over $10 billion in assets all the way down to institutions with less than $100 million in assets. Questions covered topics from where risk officers devote the most attention to what roles they see themselves taking on next. The survey reveals executives' significant focus on regulatory risk and that boards are being responsive to concerns raised by chief risk officers. Here are highlights from the research.

JPMorgan Chase will overhaul customer screening procedures to let more low-income consumers open checking and savings accounts under an agreement announced Tuesday with New York Attorney General Eric Schneiderman.

Enterprise risk management is an area banks are trying to master, and the appointment of a chief risk officer to oversee this effort has become common, even among community banks. We asked CROs and other experts for their perspectives on this evolving role, the skills needed to do the job well and their biggest worries.

Two community banks that focus on underbanked and low-income populations, City First Bank of D.C. and Southern Bancorp in Arkadelphia, Ark., have joined an international group that promotes socially and environmentally responsible development.

Austin Capital Bank, a $71.4 million-asset institution based in Texas, will originate loans for a new online consumer lending platform called Self Lender, the two companies announced.

Payday lending activity increased in California last year, but the size of loans and fees charged both declined, according to a new report from California's banking regulator.

Almost two-dozen banks in New York City do not appear to offer or widely advertise basic checking accounts, although state law requires it, the New York City Comptroller said Friday.

Alternative data used to score "credit invisibles" may do more harm than good. That's because in areas like employment and insurance, no credit score is often better than a bad one.

Bankers scratching their heads about how to attract millennials can take some comfort knowing that generations ago their predecessors also struggled to connect with America's youth. Crocker National Bank found a way, though.

Bank marketing was once largely a function of architecture. More than anything else, customers were looking for safety and solidity and banks sought to convey those concepts through their buildings. Today, with branch traffic steadily declining, bank marketing is reinventing itself as chief marketing officers — a relatively new title in the industry — face unprecedented challenges and opportunities.

The U.S. Postal Service strongly criticized a recommendation from its inspector general that the agency expand remittances, check cashing and other banking services. The services would be potentially riskier and costlier than the impression left by IG David Williams' report, the USPS said.

Most banks are interchangeable in the eyes of the average consumer. But a recent survey finds that mission-oriented banks distinguish themselves with greater employee diversity and a stronger commitment to lending in low- and moderate-income communities.

With more than 1,300 U.S. branches and a Canadian parent company, TD Bank hardly qualifies as a community bank. But the institution is trying to underscore its local-bank bona fides with marketing campaigns touting its support of neighborhood causes.