Taking it to the Bank

Many of the complex and costly regulations implemented under the Dodd-Frank Act are unnecessary and burdensome for community banks, writes the chief executive of the Community Bankers Association of Georgia. A two-tiered regulation system is the clear solution.

Apple's announcement that it will make its Touch ID technology available to app developers is good news for bankers who see biometrics as the key to authenticating mobile banking users. But some security experts question whether fingerprint scans are actually more secure than passwords.

Banks have tried to change tellers' skill sets without changing the type of people they hire. They need to recruit sales-minded employees ó and incentivize them with better pay and clearer career paths.

Higher regulatory and compliance costs may push more small banks to sell themselves or merge with larger institutions. But so far, community bank consolidation rates are following historical patterns.

Bankers provide customers with a huge range of services free of charge. If banks want to compensate for the rising cost of those services, that's got to change, says one bank consultant.

New York's top financial services regulator has indicated he will hold individuals accountable in enforcement actions. But it's imperative his agency -- and others that plan to follow suit -- adopt and follow defined procedures that consider an individualís unique, more vulnerable position.

In order for bank CEOs to be included on any "great leaders" list, trust with customers, employees and shareholders must be strong, says one HR officer.

Community banks need a steady flow of prospects. A partnership with a successful retail concept virtually guarantees constant customer traffic, according to one bank marketer.

This "product" is weakened in the customer's mind when interacting with a living, breathing banker inevitably involves fending off sales pitches, writes one retail banking program consultant.

For years, bankers have bemoaned the looming death of the traditional bank branch. Now it looks like itís actually starting to happen. Finally.

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