| compiled by CBI Endorsed Member QwickRate STATE OF THE STATE: IA 3rd Quarter 2022 Key industry trends for the "true" community bank. Click each image to view larger, or download the entire report (PDF, 1MB) | 
| ||
 |  |
|
By J. Marc Ward - Fredrikson & Byron, P.A  If you charge a fee for non-sufficient funds (NSF) you should be aware of a recent guidance from the FDIC. This is doubly true if you charge multiple NSF fees for re-presentment of an item. And it becomes critical if you rapidly charge these fees without giving your customer sufficient time to cover the amount due.
FDIC guidance does not lay down hard and fast rules regarding NSF policies and practices. It does not define how much time a customer should have between re-presentments but only that it cannot be a “short period of time.” The biggest challenge for banks that rely on core processors to assess NSF fees will be core processor cooperation. While the FDIC encourages banks to work with these third parties to reduce the risk of unfair or deceptive practices with regard to NSF fees, it has been our experience that data processors are not very cooperative in correcting these practices.  CBI's Leaders of Tomorrow (LOT) group members held their Fall Business Meeting at Kinnick Stadium in Iowa City. Guest speaker Alicia Nicoletto from Nyemaster Law updated LOT members on changes to the Uniform Commercial Code, non-fungible tokens (NFTs), cryptocurrency and other issues in digital asset management.
Scott Brickman, EVO/COO of the Swarm Collective NIL presented on that organization's mission and developments in "Name, Image, Likeness" contracts, on the rise after recent NCAA regulation changes regarding college sport player compensations. Brickman explained that an important part of the Collective's purpose is to assist players in the process, and that verifiable, ongoing community service and outreach is required as part of a player's agreement with the Collective.  CBI Endorsed Member Storey Kenworthy & Workspace Foundation for Giving is accepting grant applications from qualified non-profit organizations until Aug. 31, 2022.
Five $5,000 grants will be awarded to selected non-profits whose programming aligns with the core giving priorities:
Additional information about the Storey Kenworthy & Workspace Giving Programs and a grant application is available at www.storeykenworthy.com/community. The Storey Kenworthy & Workspace family of companies, with 10 locations across Iowa, is a family-owned, independent office supplies and commercial interiors dealership.
compiled by CBI Endorsed Member QwickRate
Click each image to view larger, or download the entire report (PDF, 1MB)
May Survey Results at a Glance:
OMAHA, Neb. (May 20, 2021) – For the sixth straight month, the Creighton University Rural Mainstreet Index (RMI) climbed above growth neutral. According to the monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy. Overall: The overall index for May jumped to a record high of 78.8 from April’s very healthy 69.0. The index ranges between 0 and 100 with a reading of 50.0 representing growth neutral. Approximately, 60.6% of bank CEOs reported that their local economy expanded between April and May. |
Community Banking NewsCurrent news, events, regulations and other information in banking, and at Community Bankers of Iowa. Stay Connected.
CBI Blog Archives
November 2022
Categories
All
|
||||||||||||||
RSS Feed