Though it is unclear how far the Federal Reserve might go, or when it might act, there is a growing consensus that interest rates will start to come down later this year.
We made the case in a recent blog that banks and credit unions should take a closer look at their consumer lending strategies. With $32 billion of volume in 2023, there has been no shortage of opportunity, spanning existing and prospective customers.
Bank Director’s Acquire or Be Acquired Conference remains a prime-time event for understanding the ever-evolving dynamics in the banking industry (beyond the prominent M&A theme) and copious amounts of networking. Over the four-day conference, there were more than 2,000 attendees this year – and the SRM contingent did its best to connect with as many industry pros as possible.
Bankers have entered what many view as a challenging year for financial institutions of all sizes. There is plenty of uncertainty surrounding the regulatory environment, credit quality, and the Fed’s plans for interest rates.
The CFPB has proposed a rule to limit overdraft charges at larger U.S. banks and credit unions – though financial institutions of all sizes should take note.
We've heard several financial institutions intend to delay deploying instant payments capabilities, such as FedNow and The Clearing House's RTP Network, until 2025 as part of broader cost-control initiatives.
Financial institution executives who found 2024’s budget cycle particularly vexing are in good company. The unrelenting pace of technology, regulatory, and economic change makes allocating resources and meeting financial goals especially challenging. Time will tell if this is simply the “new normal,” but most internal processes have yet to adapt to these new demands.
Growth-focused companies rarely get excited about sectors with slow compound annual growth rates.
SRM's experts spent much of 2023 tracking emerging developments in technology, regulation, and general trends in the financial markets.
Financial institutions must be ready for a bevy of new regulations in 2024.
All major federal bank regulators (the Federal Deposit Insurance Corp., Office of the Comptroller of the Currency, the Federal Reserve, and the Consumer Financial Protection Bureau) have sought comments for proposed rules during the second half of this year. They cover many topics, including corporate governance, capital, liquidity, and artificial intelligence.