ANB Bank’s Post

I feel so humbled and extremely honored that my client took the time to build and share her story. 🥺 I know across all industries, *most* of us would say we do what we do-for the PEOPLE. 🥰 It’s always about the PEOPLE. I never want to forget that. I started my career knowing I wanted to help people, and I will not waver on that being a theme and constant thoughout it. If you work with clients, know you are making a difference in their lives. And it’s a pretty simple formula: Show up, support alongside, and go the extra mile-it’s never crowded. 😉 #finance #wealth #womeninfinance #trust #investments

Exceptional service isn’t an offering. It’s a passion. And at Citizens Private Bank™, that passion guides everything we do. From empowering your Relationship Manager to act swiftly to tailoring solutions to support your unique needs, our focus is always — and only — on you. #CitizensColleague #PrivateBanking #WealthManagement

Exceptional service isn’t an offering. It’s a passion. And at Citizens Private Bank™, that passion guides everything we do. From empowering your Relationship Manager to act swiftly to tailoring solutions to support your unique needs, our focus is always — and only — on you. #CitizensColleague #PrivateBanking #WealthManagement

It always gives me a warm fuzzy feeling when one of our members has a real positive experience with one of their clients when using our cash management system. I recently engaged in an interesting conversation with one of our newest members. She's decided to help her clients to effectively manage their cash as part of her financial planning process. In her first client interaction, she recommended transferring some funds from Santander Bank to Hodge Bank to take advantage of additional FSCS protection. However, a member of staff at Santander advised her client against it, citing the fact that Hodge Bank do not have the FSCS protection on their deposits. Huge Mistake!! This kind of blinkered service and misinformation is what leads to suboptimal situations for all clients when they do not have professional support and assistance. Naturally, our new member provided accurate evidence to substantiate her recommendation, and in doing so proved the inaccuracy of the information provided by Santander's representative and the validity of her advice. With the additional information, the client obviously proceeded with the movement of cash thereby benefiting from the additional level of FSCS protection and a higher rate of interest. This also reflected very positively on our new member as the client: 1.   Was advised to do something they had never been advised to do before. 2.   Found that the people they had previously relied upon to deliver service and quality to a lower standard than they expected. 3.   Realised that their financial adviser had skills and knowledge in an area they had previously not considered. Instances like these underscore the indispensable role of financial advisers in helping clients to look after their cash properly. Such experiences contribute significantly to strengthening the bond between adviser and client, enhancing the overall quality of the relationship. Instead of not engaging, as most financial advisers would, our new member invested a very small amount of time and has enhanced her professional position and reputation, and no doubt the client is telling their friends, family and associates all about their poor experience with Santander. More referrals? Probably coming along very soon! This is not the first time a member has fed back that a bank or building society has misinformed a client. Believe me, Santander are not alone in this behaviour. #financialavisers, #accountants, #solicitors

On April 16, 2024, the CFPB issued a revised rule aimed at streamlining its procedures for designating nonbank covered entities for supervision. The CFPB said the revised procedures “reflect changes to the CFPB’s organizational structure,” but also noted that the revised procedures would lead to a “reduction in time and general streamlining of the decisional process” by which nonbanks are designated for supervision. 📖Read more in this #GTAlert written by Timothy Butler, Matthew White, Tessa Cierny, and Zeba Pirani: https://bit.ly/4b8Icus. #CFPB #financialservices #financialproducts #nonbanks

In the social world, the start of a new brand page is always an exciting time to strategically position narratives and content to connect with the audiences you seek to engage with. Excited for the launch of our new Citizens Private Bank™ channel on LinkedIn to share stories and content catered to our high net worth and ultra high net worth segments. Give it a follow! #CitizensColleague #WealthManagement #PrivateEquity

“Grandpa, tell us the story again about how you fought the CFPB so you could hit the working poor with more than one overdraft fee each day.” Let’s be heroes today, so we have something to talk about later. It’s time to do the right thing with overdraft fee practices. #creditunions #CFPB #overdrafts #iwork4uwcu #overdraftfees

▪️So, it is no longer news that Heritage Bank Plc. has its banking license revoked by the CBN on Friday, May 31, 2024 for breach of Section 12 (1) of BOFIA, 2020 due to the bank’s inability to improve its financial performance despite CBN earlier intervention and supervisory prescription on how to recover from its current financial distress (it’s important to note that this has been on for a while). ▪️Now, this revocation enabled the National Insurance Deposit Corporation (NDIC) to immediately move in and take over the Bank's assets and liabilities. ▪️In simple terms, revocation of a banking license simply means the bank as it stands, can no longer take deposits, give out loans or carry out any financial activity in its capacity as a bank, as NDIC is in the process of liquidating the assets of the bank which MAY end up in its complete winding up. 🔗 (CLICK HERE HTTPS://https://lnkd.in/dNBFk64m FOR A BETTER UNDERSTANDING OF WHAT LIQUIDATION AND WINDING UP OF A COMPANY REALLY MEAN) ▪️The bank’s license revocation - also means that as Heritage Bank’s customer – you cannot walk into the bank right now to make withdrawals or carry out any financial activity. ‼️Why? – because the bank is currently undergoing liquidation and the NDIC the National Insurance Deposit Corporation (NDIC) has now stepped in, to manage the affairs of the bank until top stake holder gets paid and/or its total shut down. ▪️So, what can you do as a customer of the bank?! ✔️i. Firstly, Relax but stay updated with the ongoing event, ✔️ii. Keep in touch with your account officers- the management, BODs may have been dissolved – but most of the staff are still working till the bank is completely shut down, ✔️iii. Look out for publication by the NDIC calling on the public (especially depositors) to bring in their claims, ✔️iv. Follow the instructions in the publication to the letter – recall that there are thousands, even millions of you out that, who are also waiting to lay claims (if you have less than N5M with Heritage Bank Plc you may be lucky to get all the money), ✔️v. If you are a shareholder, you share in the equity/asset/liability of the bank and most likely to lose your shares because as it stands the bank is financially distressed – again seek an expert’s advice on the best available remedy for you ✔️vi. If you are a Creditor to the Bank – please seek an experienced legal advice – especially one who also doubles as an Insolvency Practitioner for a step-by-step guide. By now, you should already know that - who gets what largely depends on how secured a Creditor is in a descending order All will be well with the right guidance and expert help. PLEASE SHARE THIS PIECE, SOMEONE SOMEWHERE REALLY NEEDS TO SEE THIS BEFORE THEY PANIC AWAY🙏 Yours legal, #PreciousToju #TheStructureLady (Debt Recovery Lawyer | Insolvency Practitioner | Credit Risk Analyst)

The Consumer Financial Protection Bureau (CFPB) today took action against Atlantic Union Bank for illegally enrolling thousands of customers in checking account overdraft programs. The CFPB found that Atlantic Union misled consumers who enrolled in this overdraft service by phone and failed to provide proper disclosures. The CFPB is ordering Atlantic Union to refund at least $5 million in illegal overdraft fees and pay a $1.2 million penalty to the CFPB’s victims relief fund. Read more: https://lnkd.in/gruC7wMw #overdraft #finance #fintech #FinancialIT