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Posts by Mike Sumner

04/24/2019

Why banks should institute rate floors if they haven’t already

Ah, the ever-changing economy. One day interest rates are up, the next day they’re down. Not exactly a roller coaster, but it’s at least a merry-go-round. Those rates impact the mortgages banks offer to their customers, adjustable rate mortgages most of all. Customers choose ARMs because they’re betting the rates aren’t going to go up…

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12/20/2018

New Wave: Is the Explosion of Neo-Banks Really a Threat?

Neo-banks are creating industry disruption, but how worried should community banks and credit unions be? What’s the risk of becoming the next Blockbuster or Toys R Us as consumers increase their adoption of digital-only alternatives? Thus far in 2018, American neo-banks have received four times as much funding as they did last year, the New…

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