Community Banks

News & Analysis as of

Cyber-Risks 2015 – A Board Primer

Cyber-risk is a witch’s brew of reputational, operational, legal and financial dangers. This toxic combination exposes a financial institution to a potentially existential hazard when an intrusion occurs. The only way to...more

An Interview with James C. Cherry, CEO, Park Sterling Bank

With more than three decades of experience in banking in North Carolina and Virginia, Park Sterling’s CEO James C. Cherry has a lot to say about the state of community banks and their future. He graciously took the time to...more

Community Banking Excellence - Issue 3, 2015

In This Issue: - Another Perspective - James C. Cherry, Chief Executive Officer, Park Sterling Bank: With more than three decades of experience in banking in North Carolina and Virginia, Park Sterling's CEO James C....more

Get Ready, Get Set: Same-Day ACH Service Mandatory in 2016

Why it matters - Continuing its efforts to modernize the U.S. payments infrastructure, the Federal Reserve Board of Governors announced that effective September 23, 2016, receiving depository financial institutions...more

Small Lenders Score a Needed Win before the CFPB: New Regs for Small Lenders Serving Rural and Underserved Areas Offers New...

When many small and community bankers serving rural and underserved areas prepare for their New Year’s Eve toast this year, they will be able to make a major New Year’s Resolution: make more home loans. The Consumer...more

CFPB Expands “Small Creditor” and “Rural Area” Definitions for Qualified Mortgages

On September 21, the Consumer Financial Protection Bureau (“CFPB”) released final and revised versions of mortgage rules regarding small creditors. These changes should ease lenders’ ability to originate qualified mortgages...more

CFPB announces new appointments to advisory groups

The CFPB announced the appointment of new members to its Consumer Advisory Board, Community Bank Advisory Council, and Credit Union Advisory Council. New members to the Consumer Advisory Board will serve three-year terms and...more

New York AG Settles with Community Bank over Redlining Allegations

On September 10, New York Attorney General Eric Schneiderman announced a settlement agreement with a New York-based community bank to resolve allegations that the bank engaged in discriminatory mortgage lending practices by...more

Banking Trade Associations Urge Senate Leaders to Pass Regulatory Relief Legislation for Community Institutions

On September 8, four trade associations representing 14,000 financial institutions – the American Bankers Association, the Credit Union National Association, the Independent Community Bankers of America, and the National...more

CFPB Community Bank Advisory Council to meet on Sept. 30

The CFPB has announced that a meeting of its Community Bank Advisory Council is scheduled for September 30, 2015 in Washington, D.C. Director Cordray will be in attendance and there will be a discussion of consumer challenges...more

The Fiduciary Exception to the Attorney-Client Privilege: Whose Privilege is it in Litigation?

The attorney-client privilege is a cornerstone of the legal practice. The privilege protects the confidentiality of communications between a client and an attorney from disclosure to a third party when the communications are...more

SBA Lending May Be Critical to Future Community Banking

Headlines should read, “Congress and President Do Something Right!” On July 28, 2015, only one day after Congress passed the matter, the President signed into law an increase in Small Business Administration (“SBA”) lending,...more

Unauthorized Transfers Present Growing Risks for Commercial Accounts

Could your institution be at risk of liability for unauthorized wire transfers and Automated Clearing House (“ACH”) credit transfers? Data security breaches continue to garner headlines, and criminals continue to engage in...more

How Bad is Dodd-Frank for Community Banks?

Congress passed the Dodd-Frank Act in June and July 2010 with minimal Republican support, and it was signed by President Obama July 21, 2010. Since passing, Dodd-Frank has been hailed, depending on who answers, as salvation...more

An Interview with David Barksdale, President and CEO of Carolina Premier Bank

Q: You recently took the helm of Carolina Premier. What has been the biggest surprise to you in your new role as a CEO? What has been the biggest surprise about Carolina Premier? A: Well, bankers are known not to...more

Community Banking Excellence - Third Quarter 2015

In This Issue: - Another Perspective: David Barksdale, President and Chief Executive Officer, Carolina Premier Bank: For the past several months, David Barksdale has been leading the charge at Carolina Premier...more

Successful Strategies for Doing Business in Asia: Malaysia (Updated)

WHAT ROLE WILL THE GOVERNMENT OF MALAYSIA PLAY IN APPROVING AND REGULATING FOREIGN DIRECT INVESTMENT? Regulation of foreign investment in Malaysia is done both through legislation as well as governmental policies....more

Bank Boards and Corporate Officers Review your Policies and Procedures: Business Judgment Rule Protections May Be Loosening

A recent decision from the Fourth Circuit, Federal Deposit Insurance Corporation v. Rippy, No. 14-2078 (4th Cir. Aug. 18, 2015), may signal a weakening of the business judgment rule’s long-standing protections for corporate...more

Orrick's Financial Industry Week in Review

ESMA Final Report on Technical Advice on Delegated Acts Required Under the CSDR - On August 5, 2015, the European Securities and Markets Authority (ESMA) published its final report (ESMA/2015/1219) setting out technical...more

Comptroller Discusses Efforts to Ease Regulatory Burden on Community Banks

On August 5, the Comptroller of the OCC addressed efforts to ease the burden of regulation on community national banks and federal savings associations....more

Federal Reserve Orders Community Bank to Improve its BSA/AML Program

On June 23, the Board of Governors announced the execution of an enforcement action against a California-based community bank over BSA/AML deficiencies. According to the Cease and Desist Order, the deficiencies were...more

Financial Regulatory Developments Focus - June 2015 #4

In This Issue: - Board of Governors of the Federal Reserve System Approves Final Rule Amending Regulation D - US Federal Banking Agencies Finalize Revisions to the Capital Rules Applicable to Advanced...more

FDIC Proposes New Premium Assessment System for Small Banks

On June 16, the Federal Deposit Insurance Corporation (FDIC) released a proposal to amend 12 CFR part 327 to refine the deposit insurance assessment system for small banks that have been federally insured for at least five...more

Dodd-Frank Overkill—Community Bank M&A Deals Must Not Pose a Risk to U.S. Financial Stability

Why it matters - With their recent approvals of BB&T’s acquisition of a $2 billion community bank, the Federal Reserve Board of Governors (Federal Reserve) and the Federal Deposit Insurance Corporation (FDIC) were...more

The Next Examination Enforcement Wave— Cybersecurity Assessments?

Why it matters - The member banking agencies of the Office of the Federal Financial Institutions Examination Council (FFIEC) will soon promulgate a “Cybersecurity Assessment Tool” for use by community banks after a pilot...more

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