Guaranty Bank & Trust’s Post

I was glad to participate in a crucial conversation this past Wednesday with national leaders hosted by the Consumer Financial Protection Bureau and the U.S. Department of the Treasury Office of Terrorism and Financial Intelligence. The conversation focused on the persistent barriers to banking for marginalized groups, including Muslim Americans, immigrant communities, and justice-impacted consumers. In today's political landscape, where financial inclusion is more critical than ever, addressing these challenges is paramount. Banking access is not just about having a place to store money; it's about economic empowerment, stability, and growth. For many marginalized communities, these barriers perpetuate cycles of poverty and exclusion. Thank you Consumer Financial Protection Bureau and Director Rohit Chopra, Chastity Murphy, Brian Nelson, and Janis Bowdler for ensuring justice-impacted consumers remain a priority regarding fair access to financial products. 📢 Calling all reentry providers and advocates, if your participants face issues such as account closures, or outright denials of accessing financial products, I strongly encourage you to guide them in filing complaints either online or by phone with CFPB. By voicing these injustices, we can collectively push for systemic changes that ensure fair treatment and access for everyone. This also applies to rampant denial of life insurance to justice-impacted consumer, which the National Association of Insurance Commissioners (NAIC) is aware of. We also have to begin calling out the banks that are erecting these barriers like JPMorganChase. It's both ironic and counterintuitive how @JPMorganChase touts itself as a second chance employer and supporter, and the JPMorgan Chase Foundation invests countless dollars in reentry iniatives, while their bank branches across the country closes accounts of justice-impacted and certain minority communities using policies not intended for blanketed use or blanketed exclusion. Let's continue to advocate, support, and empower our communities. 💪🏽 #FinancialInclusion #EconomicEquity #JusticeImpactedCommunities #CFPB #TreasuryDepartment #BankingAccess #reentry #banks

📢 Modern slavery survivors need support from more financial institutions 📢    In a recent opinion article published in American Banker, Financial Sector Lead Maha Khan and Vulnerable Populations Lead Leona Vaughn, PhD for FAST, alongside Sarah Dohoney Byrne of Moore & Van Allen, advocate for an expanded commitment from the financial sector to enhancing their financial inclusion programming for survivors of modern slavery.    Three in every 1,000 people in the United States live in conditions of modern slavery (including forced labor and human trafficking). Recognizing the financial exploitation experienced by survivors, federal financial regulators now identify human trafficking as a significant threat to the nation's financial sector.      The FAST initiative at UNU-CPR is working to increase and improve financial inclusion for survivors. So far, more than 3,000 survivor bank accounts have been opened as a result of UNU-CPR's direct partnerships with 14 banks as part of the Survivor Inclusion Initiative (SII). To carry this momentum forward, more financial institutions need to address the exclusion that survivors face and explore how they can expand their offers to further enhance survivors' financial health and support networks.     Read the article here: https://lnkd.in/eETFBpgP #modernslavery #humantrafficking #finance Wells Fargo Bank of America U.S. Bank Ally Truist

📢 Modern slavery survivors need support from more financial institutions 📢    In a recent opinion article published in American Banker, Financial Sector Lead Maha Khan and Vulnerable Populations Lead Leona Vaughn, PhD, representing UNU-CPR's Finance Against Slavery & Trafficking (FAST) initiative, alongside Sarah Dohoney Byrne of Moore & Van Allen, advocate for an expanded commitment from the financial sector to enhancing their financial inclusion programming for survivors of modern slavery.    Three in every 1,000 people in the United States live in conditions of modern slavery (including forced labor and human trafficking). Recognizing the financial exploitation experienced by survivors, federal financial regulators now identify human trafficking as a significant threat to the nation's financial sector.      The FAST initiative at UNU-CPR is working to increase and improve financial inclusion for survivors. So far, more than 3,000 survivor bank accounts have been opened as a result of UNU-CPR's direct partnerships with 14 banks as part of the Survivor Inclusion Initiative (SII). To carry this momentum forward, more financial institutions need to address the exclusion that survivors face and explore how they can expand their offers to further enhance survivors' financial health and support networks.     Read the article here: https://lnkd.in/eETFBpgP #modernslavery #humantrafficking #finance Wells Fargo Bank of America U.S. Bank Ally Truist

Yesterday marked my one-year anniversary with Wells Fargo Advisors It's been a fantastic year, and I'm thrilled to be part of such a great company. Looking forward to many more years of growth and success with #WellsFargoAdvisors #BrokerageServices #ClientServices #BrokerageRepresentative #WellsFargo #InvestmentBanker #InvestmentBanking #WIM #WealthandInvestmentManagement #Banking

We’re doing big things at Truist!!! Please reach out to learn more about how we can help your business gain access to not only capital ,but a multitude of resources and consultants to help you reach all of your business and personal financial goals!

The FDIC protects your deposits up to $250k. So what happens if you have more than that to protect? Take a look at our newest blog post for an explainer. #FDIC #DepositInsurance #TreasuryManagement #DepositManagement #Ampersand https://lnkd.in/g3BGcdeD

You see it with banks all the time – Member FDIC But what does FDIC stand for? What is it? And what does it do? FDIC stands for the Federal Deposit Insurance Corporation. The FDIC is an independent federal agency insuring deposits in U.S. banks and thrifts in the event of bank failures. The primary purpose of the FDIC is to prevent "run on the bank" scenarios, which devastated many banks during the Great Depression. In case of bank failure, the FDIC insures deposits up to $250,000 per depositor as long as the institution is a member firm. Meaning, if you have $200k in a savings account and $100k in a CD, you have $50k that is uninsured. #communitybank #memberfdic #fdic #financialiteracy #themoreyouknow #banklocal

CNBC had an update on the #AllenstanfordPonzi scheme a few months ago. Here’s a clip of what was discussed….#cnbc #ponzischeme #stanfordgroup #mlb2cfp #receivership #offshorebanking #cfppro

Fidelity/Crime Coverage: I had occasion to re-visit a previous victory in an opinion from the Eastern District of Virginia in a complex fidelity loss case. Key quote from the court: "Although the 'resulting directly' language of the insuring agreement limits the scope of the insurer's risk significantly, it does not limit that risk solely to the money that is eventually found in the embezzler's pocket." In other words, the amount of covered loss may exceed the amount of the embezzler's gain. The "loss of money" was the economic loss to the insured caused by the embezzler (rather than the fruits of the crime itself). In context, most of the insured's loss stemmed from its fulfilling contracts the bad guy had apparent authority to enter. "Building One's claim is premised on the fact that [the malefactor's] scheme was dependent upon entering numerous contracts, and that in obtaining these contracts, [he] caused substantial losses to Building One, which had to fulfill the contracts for extraordinarily low payments." Building One Service Solutions, Inc., v. National Union (E.D.V.A. Nov. 26, 2002). #fidelity #insurance #fidelitybond #crimecoverage #embezzlement

We're elated to unveil Northstar’s recognition with the BankSafe™ Trained Seal from AARP. This isn’t just a badge; it’s a testament to our dedication to safeguarding the financial assets of our clientele, especially those navigating critical life transitions like divorce, widowhood, retirement, and business ownership. We understand that life transitions are not only emotionally challenging but can also create vulnerabilities putting your financial security at risk. The AARP BankSafe Initiative resonates with our mission by working to: ● Prevent financial exploitation ● Support family caregivers ● Aid individuals with dementia ● Enhance banking accessibility As we walk beside you through every season of life, Northstar's commitment to your financial safety deepens. We champion innovations like predictive data analytics to spot potential risks and ensure trusted loved ones can oversee transactions without direct fund access. Trust Northstar for a financial journey grounded in empathy and proactive protection. Reach out to explore our comprehensive approach to financial security. #BankSafeTrained #NorthstarTransitions #FinancialProtection