Association of Military Banks News

Association promotes Andia Dinesen to Chief Operating Officer

The Association of Military Banks of America (AMBA) has announced the promotion of Andia Dinesen from Executive Vice President of Communications and Operations to Chief Operating Officer (COO). With AMBA’s increasing focus on growth, innovation, and strategic engagement, Dinesen’s enhanced responsibilities will include an emphasis on driving strategic execution and operational excellence of AMBA’s programs. She has been a significant contributor to the organization since she joined in 2013.

Retired Brigadier General Omuso George named President & CEO of AMBA

The Association of Military Banks of America (AMBA) Board of Directors has appointed Omuso D. George as the new President and CEO. George, a retired U.S. Army Brigadier General, brings extensive experience in military finance and public sector consulting to his new role. He will be responsible for leading AMBA’s strategic membership growth, managing relationships with legislative, military, and financial industry stakeholders, and promoting continued innovation in military banking services.

American Fintech Council partners with AMBA for military financial wellness

The American Fintech Council (AFC) has announced a strategic partnership with the Association of Military Banks of America (AMBA) to enhance financial wellness for U.S. military and veteran communities. The collaboration aims to support responsible fintech companies and innovative banks in increasing access to safe financial services, aligning with both organizations' missions.

Brigadier General Omuso George named Chief Operating Officer at AMBA

The Association of Military Banks of America (AMBA) has announced the appointment of Brigadier General Omuso D. George, USA (Ret.), as its new Chief Operating Officer. General George's career spans over three decades in leadership and finance, including thirty years as an Army finance officer and two years in the private sector.

Safeguarding Against Scams: How BBB Scam Tracker Can Protect You

On May 3, 2024, the Better Business Bureau (BBB) highlighted the significance of utilizing their Scam Tracker tool to combat scams effectively. The BBB Scam Tracker serves as a vital resource for individuals who have encountered or suspect fraudulent activities.Users are encouraged to report their experiences on the platform, with the reassurance that their input can benefit others. According to the BBB, reporting scams not only protects oneself but also serves as a warning to others, potentially preventing financial loss and emotional distress.The BBB collaborates with...

Andy Trovillion Scholarship: A Boost for Military Bankers

The Andy Trovillion Scholarship, funded by the Association of Military Banks of America (AMBA), aims to support individuals who share Andy's passion for military banking and education. The scholarship honors the legacy of Raleigh A. "Andy" Trovillion, a former GSB faculty member and AMBA board chairman, known for his dedication to the field.According to the AMBA, the scholarship provides $1,500 per session, totaling $4,500, towards Graduate School of Banking (GSB) tuition for each of the three resident sessions. The scholarship is open to various groups, including active...

Military departments honor banks at AMBA fall workshop

In a luncheon ceremony held on August 22, 2023, during the 2023 AMBA Fall Workshop in Philadelphia, Pennsylvania, three banks were recognized by the Military Departments with the 2022 Distinguished Bank Service Awards.

Biden administration introduces fresh start program for student loan defaulters

With the resumption of student loan repayments scheduled for October, attention is focused on a new initiative aimed at addressing student loan default issues. The Biden Administration recently announced plans to cancel $39 billion in loans for 804,000 borrowers, and the Fresh Start Program by the U.S. Department of Education (ED) offers additional pathways out of default.

Federal agencies release final rule for community reinvestment act compliance

The Community Reinvestment Act (CRA) is a federal law aimed at encouraging banks to address the credit needs of their communities, particularly in low- and moderate-income neighborhoods. On October 24, 2023, three federal agencies—the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (FRB), and the Office of the Comptroller of the Currency (OCC)—released their CRA Final Rule. This rule results from a coordinated interagency effort and modifies how banks are evaluated for CRA compliance. The new regulations will come into effect on April 1, 2024.

AMBA banks prepare assistance programs amid potential government shutdown

A potential government shutdown this weekend has raised concerns for many Americans, particularly service members, veterans, and their families. Questions about paychecks, furloughs, and managing expenses are prevalent among those affected.

Banks prepare support amid potential U.S. government shutdown

As the possibility of a government shutdown looms this week, concerns rise across the nation. For service members, veterans, and their families, the uncertainty hits particularly hard, sparking questions about paychecks, furloughs, and managing expenses. With many Americans lacking substantial emergency savings, these worries intensify. In light of the potential shutdown, financial institutions are urging everyone to contact them for assistance options.

Military faces mental health challenges with new resources

World Mental Health Day, observed on October 10th, highlights the importance of mental health awareness and action. This day serves as a reminder to focus on the mental health challenges faced by military members and veterans.

Student loan repayments resume as new relief measures are announced

The student loan payment pause, which ended on August 30, 2023, is leading borrowers to prepare for repayments set to begin next month. This follows the Biden Administration's announcement of a plan to cancel $39 billion in loans for 804,000 borrowers. In light of this, borrowers have been advised on several fronts.