Independent Banker - September 2024 - 45

The regulatory compliance burden
is a big and growing consideration
for community banks. Thankfully,
there are plenty of techniques and
resources for keeping on top of this
ever-changing task.
TODAY'S COMPLIANCE LANDSCAPE off ers its fair share of
challenges for community bank leaders and their compliance
teams. A June 2024 study from ICBA found that more than nine in
10 ICBA member community bankers said the current regulatory
environment is more challenging than it was fi ve years ago. Further,
71% of respondents identifi ed regulatory factors as one of their
bank's top three challenges.
" The evolving compliance landscape requires vigilance and
accountability. So, it kind of all concerns me, " explains Debbie
Robertson, vice president, compliance at $236 million-asset Grand
Rapids State Bank in Grand Rapids, Minn.
Bankers also think it will get worse before it gets better.
According to the Second Quarter 2024 Community Bank Sentiment
Index from the Conference of State Banking Supervisors (CSBS),
80% of community bankers believe their regulatory burden will be
greater in the future.
Bank compliance teams face mounting pressures to address
current requirements, balance them with pending preparations
and institute procedural rollouts to ensure bank staff understand
By
Colleen
Morrison
independentbanker.org // 45
http://www.independentbanker.org

Independent Banker - September 2024

Table of Contents for the Digital Edition of Independent Banker - September 2024

Contents
Independent Banker - September 2024 - Cover1
Independent Banker - September 2024 - Cover2
Independent Banker - September 2024 - Contents
Independent Banker - September 2024 - 2
Independent Banker - September 2024 - 3
Independent Banker - September 2024 - 4
Independent Banker - September 2024 - 5
Independent Banker - September 2024 - 6
Independent Banker - September 2024 - 7
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Independent Banker - September 2024 - 45
Independent Banker - September 2024 - 46
Independent Banker - September 2024 - 47
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Independent Banker - September 2024 - Cover3
Independent Banker - September 2024 - Cover4
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