The time has come for community bank card issuers to begin ramping up their contactless payments strategy. More than half of the top 100 U.S. merchants are already contactless enabled and smaller merchants are also speeding to adopt contactless point-of-sale technology in a bid to improve the cusotmer experience.
Chelsea Groton Bank has been awarded a 2018 Top Workplaces honor by The Hartford Courant, for the third year in a row. The Top Workplaces lists are based on the results of an employee feedback survey administered by Energage, formerly WorkplaceDynamics, a leading research firm that specializes in organizational health and workplace improvement. Several aspects of workplace culture were measured, including alignment, execution, and connection.
The Bureau of Consumer Financial Protection said it will relocate its southeast regional office from Washington, D.C., to Atlanta, Ga., in late 2019. The bureau already has regional offices in New York, Chicago and San Francisco that host supervision staff, enforcement attorneys and other personnel. The southeast regional team has been temporarily based out of the bureau’s D.C. headquarters since its inception.
A provision of S. 2155 requiring credit reporting agencies to freeze consumer credit reports at no charge took effect Friday. These security or credit freezes restrict access to credit files to reduce identity theft.
ICBA and other banking groups called on the IRS to reconsider its approach to implementing the Tax Cuts and Jobs Act’s 20 percent tax deduction for pass-through businesses. In a joint comment letter, ICBA said the agency should allow all permissible banking activities to be eligible for the deduction.
ICBA Bancard’s Senior Vice President of Card and Payment Products, Julie Hanson, says that many times when she is discussing debit and credit card portfolio strategies with community bankers, they are unaware of the many core benefits that are baked into their Visa and Mastercard programs.
In order to assist individuals and families in switching to a better banking experience, Chelsea Groton Bank is pleased to introduce a new Switch Hotline, which will provide prospective customers the convenience of switching to Chelsea Groton Bank over the phone, during and after hours, by calling 860-448-4195 (Monday – Friday: 8am – 7pm, Saturday: 9am – 1pm).
Roselle Bank, which has served central and northern New Jersey for nearly 130 years, has begun renovating its operations center, located at 108 West Third Avenue, Roselle, NJ across from the bank’s main branch. The facelift is part of Roselle Bank’s comprehensive initiative to enhance customer convenience and overall banking experiences.
Federal regulators issued interim final rules to enact an ICBA-advocated provision of the S. 2155 regulatory relief law expanding eligibility for the 18-month exam cycle. As authorized by the ICBA Plan for Prosperity-inspired law, the interim final rules generally apply the extended exam cycle to institutions with less than $3 billion in total assets.
United Bankers’ Bank (UBB) has promoted Mary Williams to SVP, Chief Operations Officer, effective August 6. Williams succeeds Anne Hofstede who retired after 41 years of service at UBB.
A Visa study examines how digital trends are reinventing consumer expectations. This shift in the ecosystem is driven by universal connectivity, prevalent social media use, the rise of Internet of Things (IoT) devices, and increasingly interactive user experiences along the entire customer journey and across all channels.
