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What’s a special-purpose credit program?
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...
Stop elder financial abuse with data analytics
Elder financial abuse has been on the rise for the past decade, but so has data analytics technology, which banks can use to fight this fraud. Experts share strategies for community banks to...
Fighting fraud with education
COVID-19 has exacerbated vulnerabilities to fraud. To combat this trend, Tompkins VIST Bank has been delivering valuable education to its small business customers to keep them informed and protected.
The advertising regulations you need to know
Like any business marketing its products and services, a community bank must keep its advertising truthful. There are plenty of regulations specific to financial institutions under the FDIC, CFPB...
The overdraft regulations that you need to know
This past year, the Consumer Financial Protection Bureau (CFPB) fined a national bank for misinforming its accountholders about its overdraft services fees. A handful of regulations apply to banks...
How community banks serve immigrants
When people move to the U.S. from other countries, they often don’t have an American credit history, identification or other typical requirements of the account-opening or loan process.
Fraudsters’ latest target? UI benefits
Criminals have stolen more than half a billion dollars by taking advantage of the surge in unemployment claims during the pandemic. Luckily, most of this money has been recovered. Here’s what you...
Safe deposit boxes can have benefits beyond revenue
Safe deposit boxes aren’t big revenue drivers at most community banks, but for some customers, they can be an important service. They provide peace of mind when breaches and hacks have eroded trust...