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.