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2019

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Insights from our Leaders

Cutting Through the Confusion: Hemp Banking is Not Cannabis Banking and We’re Ready

Timothy Romig
Executive Vice President, Managing Director & Market President – Pennsylvania and New Jersey, Customers Bank

The 2018 Farm Bill ended an 80-year Federal ban on growing industrial hemp. This law opens the U.S. to a global market, that according to research firm FIOR Markets, is expected to increase from $4.41 billion in 2018 to an estimated $14.67 billion by 2026. According to a report by Hemp Business Journal, total sales for the U.S. hemp industry reached $820 million in 2017, and is projected to reach $1.9 billion by 2022.

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Banking Hemp and CBD Businesses is not Marijuana Banking

Jay Sidhu
Chairman and Chief Executive Officer, Customers Bank

As part of the 2018 Farm Bill, industrial hemp was legalized on the federal level. Industrial hemp and hemp-derived cannabidiol (CBD) products are not the same as, nor should they be confused with marijuana. Marijuana remains an illegal and controlled substance in our nation. Hemp and hemp-derived CDB are also not related to medicinal marijuana, which has been legalized in thirty-three states but remains on the federal schedule 1 list of drugs with a high potential for abuse.

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Invest in Employees, Reward High Performers

Karen Kirchner
Senior Vice President, Team Member Services Director

In today’s business environment, regardless of industry, most business leaders and executives recognize a company’s Team Members as its’ most valuable asset. However, at the same time, many companies do not focus on employee development.

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Mortgage Rates Are Not the Most Important Thing to Consider When Financing a Second Home

Lorie Shannon
Executive Vice President, Director of Mortgage Lending, Customers Bank

Every real estate purchase has its own unique financial characteristics. It is important that the financial institution you decide to work with also provides distinctive programs to meet those needs.

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Security Connection: Who is responsible for keeping your financial information and data safe?

Diane McCracken
Executive Vice President and Chief Security Officer, Customers Bank

Data is only as secure as its weakest link. Diane McCracken, Customers Bank Executive Vice President & Chief Security Officer, discusses why the best approach to protecting financial information and data requires a combined effort between institutions and the individual.

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Managing in a Pre-Recession Environment

Dick Ehst
President & Chief Operating Officer, Customers Bank

Learn about Dick Ehst’s, Customers Bank President & COO, thoughts on business financial planning for the year ahead.

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Security Check: When it Comes to Mobile Banking, Data Safety Depends on You

Diane McCracken
Executive Vice President and Chief Security Officer, Customers Bank

Mobile banking doesn’t need to be synonymous with risk. While banks have system requirements that prevent cyberattacks, consumers have the most power when it comes data safety – as long as they know how.

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The Future of Banking Depends on its Talent

Richard “Dick” Ehst
President and Chief Operating Officer, Customers Bank

A stronger, better financial services world will be built from the combined talents of diverse individuals. In order for this to happen, we must show prospective talent that financial institutions offer entrepreneurial environments where technology skills will be continually developed; where there is a clear, progressive career path for technology leaders; and where their contributions will have a tangible impact on the transformation of the organization.

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