American Banker Magazine - November 2017

It's tough to be a bank director these days, as the public and elected officials hold the board responsible for misdeeds that occur on their watch. Turnover is up, and filling the seats is more of a challenge than ever.

Add MUFG Union to the roster of traditional banks launching a digital division that aims to grab deposits. PurePoint is going up against some more established competitors who are evolving their strategies.

Additional data such as college major enhances the ability to provide credit to thin-file consumers. But could it create other issues?

Salaries and benefits are up, as banks work harder to recruit and retain staff. So are casual days, wellness programs and other perks.

Even as women make up an increasing share of potential clients in the private wealth sector, only a small percentage of financial institutions are reaching out to them.

A change in the formula that banks use to calculate borrowers’ debt-to-income ratios, announced by Fannie Mae in April, appears to be spurring more lending.

Stephen Sessler, the director of mortgage banking at the $4 billion-asset Camden National Bank, provides other lenders a peek at the benefits and pitfalls of digital mortgages.

The agency and the National Association of Federally-Insured Credit Unions plan to boost efforts to get more credit unions involved with SBA lending.