December 12, 2023

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John Turner Hired as Senior Vice President/Chief Operations Officer John Turner began employment with Midwest Independent BankersBank (MIB) in October 2023 as the Senior Vice President/Chief Operations Officer. His professional life began in 1987 as a bank examiner with the state of Illinois. Over the next 20 years, Turner served in examination, audit or risk

In October 2023, the Consumer Financial Protection Bureau (CFPB) proposed a new rule to facilitate “open banking” by requiring banks and other financial institutions to establish and maintain online “interface” portals to allow consumers, “authorized third parties” and “data aggregators” to access consumer account information.1 Although CFPB Director Rohit Chopra has indicated that the rule

Contributors to the MIBA Political Action Committee are recognized for their generosity on the Association’s website and at the MIBA Annual Convention and Exhibition. Different levels of contribution have been set to recognize supporters of our Political Action Committee fund and to make the Association’s membership more aware of this important facet of our work

A recent study by a security awareness training platform showed that the average rate at which employees of small banks clicked on phishing emails was 25% (the rate for bigger banks is even worse!). Ransomware (malware that encrypts your data and only provides a decryption key if you pay a ransom) continues to be a

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Machine learning can revolutionize banks, but only when fueled by high-quality data. Artificial intelligence (AI) is here to stay. As it gains popularity, more financial institutions are discovering how they can use AI to stay ahead, especially machine learning. Machine learning is indeed about teaching machines to make predictions or decisions based on past behaviors

I’m going out on a limb here, but one day, mortgage rates will not only quit rising; they will actually begin to fall. When that happens, community bank bond portfolio managers will have to deal with a host of factors (most of them positive) they haven’t seen in a while, if ever. The sheer scale

Expanded digital capabilities for customers and institutions alike are always within reach through Open API technology. Open APIs: A Breakdown In today’s rapidly evolving fintech market, Open APIs serve as a transformative force for community banks. Offering new opportunities for expanded digital capabilities, Open APIs lead to enhanced services for consumers (like remote account opening

As a third-generation banker, Chuck is proud of his family’s banking legacy. His grandfather, Lorenzo H. Gnuse, founded the Durham State Bank in 1922. He was commissioned by the State of Missouri to assist in the liquidation of banks throughout Missouri that were failing due to the nationwide depression. Six years later, the citizens of

The Merchant Cash Advance (MCA) industry came about as a byproduct of the fintech boom.1 Commercial financiers began to utilize technology to pre-approve certain businesses for cash advances. The cash was easily handed out, and businesses fell victim to what many describe as predatory lending.2 The Merchant Cash Advance industry was forced into a brief hiatus

Digital first. How many times have community banks heard that refrain over the past few years? It’s been a repetitive beat in an ongoing banking evolution, and with it comes ever-increasing pressures on the technology stack. In today’s landscape, we’re facing a need to balance budgetary requirements with rapidly advancing technological demands. It can make

It is a pleasure working with the staff of MIBA and representing MIBA with members of the legislature, their staff and the executive branch. As we begin to shift our focus to 2024, it is important to take a look back at what was accomplished in 2023. MIBA was instrumental in passing: SB 13 —

Amidst record-high inflation, global conflict and a heated presidential race, there is immense pressure on elected officials and regulators to take action and provide relief to Americans. In Congress, I’ve urged my colleagues to think about economic issues critically and avoid succumbing to dogma or the catchiest soundbites. As bankers are well aware, offering false

As we recently celebrated Thanksgiving, it served as an annual reminder to take stock of the things for which I am most grateful: my family, my community, food on the table and a roof over my head, a fulfilling job, my team and our relationship-banking model. In fact, when I think about my blessings as

In today’s environment, we hear a lot of hype about different technologies. That buzz leads to oversaturation, which can leave us questioning, “Am I missing something?” when we don’t feed into the frenzy. When it comes to cryptocurrency, this is certainly the case. I’m frequently asked in interviews about ICBA’s thoughts on cryptocurrency, inclusive of

We are the backbone of many of these communities, and our customers’ success is instrumental to our success. As we get older, they say time flies! Well, 2023 is a great example of this statement. Also, the saying, “time flies when you are having fun” can be associated with the swiftness that this past year