In a paper dated January 13, 2015, the Office of the Comptroller of the Currency explores the potential benefits of collaboration among smaller banks seeking to compete and succeed in a challenging environment.
The paper, “An Opportunity for Community Banks: Working Together Collaboratively,” looks at numerous collaborative models and their potential for alleviating some of the challenges commonly faced by community banks today. It also provides examples of specific approaches, functional areas, and oversight concerns worthy of consideration.
If your bank saw more consumer international payments activity in 2014 than in the past, we’ve got one word for you: Congratulations! Because in all likelihood, your bank grew in other areas, too.
Happily, you needn’t be concerned about exceeding the “safe harbor” threshold of 100 remittance transfers per year set by the Consumer Financial Protection Bureau’s Final Rules amending Regulation E. Bankers’ Bank of the West offers a turnkey solution for consumer international payments that supports compliance with Dodd-Frank Regulation E requirements.
Our solution enables your bank to issue the sender a combined disclosure and receipt once the payment is completed. What’s more, it’s a quick, convenient, and cost-effective way of meeting the needs of your customers in an age of changing demographics.
So celebrate your success. And as you prepare for another year of growth, reach out to our operations specialists (firstname.lastname@example.org or 800-873-4722) to find out more about the quick, convenient and cost-effective turnkey consumer international wire transfer and ACH solutions available through Bankers’ Bank of the West.