Independent Banker

JULY 31, 2022

Observing the gap in pandemic relief in south Florida due to a lack of local community banks, a trio of banking veterans teamed up to form a digital-first community bank—and were granted a charter in record time to support local businesses. By Katie Kuehner-Hebert. Name: Locality Bank. Assets: $55 million. Built on a solid foundation.

Florida 91

Florida Community Bank Community FDIC 91

Jeff For Banks

AUGUST 2, 2021

2/ @Schornack The primary asset of the organization was Flagship Bank Minnesota, a Member FDIC and Equal Housing Lender with two locations in the Twin Cities Metro Area. In June 2021, we were up to six locations, $327.6 In 2021, we are up to over $70 million, mostly investment properties. I suggest following Andy on Twitter.

Community Bank 78

Community Bank Community Minnesota Metro 78

Abrigo

JUNE 11, 2021

Takeaway 1 Regulators stress sound risk management practices that include the ability to identify and measure interest rate risk (IRR). Regulators have repeatedly stressed the importance of sound risk management practices that include the ability to identify and measure interest rate risk. FDIC) noted in its 2021 Risk Review.

How To 195

How To Risk Management Analysis Kansas City 195

Independent Banker

OCTOBER 1, 2022

AmTrust recently worked with one community bank client that was the target of a ransomware attack that shut down its branches for two weeks. One of the biggest benefits of a cyber policy, especially for a smaller community bank, is access to experts,” says Gentile. Regulators paying closer attention to cyber risks.

Montana 152

Montana Policies Resources FDIC 152

Jeff For Banks

AUGUST 14, 2022

The FDIC's quarterly Supervisory Insights for Summer 2011 had a list! But in January 2021, the new OCC announced it would pause the "Fair Access" rule that was intended to prevent another Operation Choke Point. What were disfavored industries? Because we are going after "climate related businesses." Not politicians or bureaucrats.

Operations 78

Operations Lending Industry FDIC 78

Jeff For Banks

JUNE 2, 2023

Second, this can be accomplished only if the industry does not have too much influence over its regulators and if the regulators have the ability to hire, train, and retain qualified staff. Third, the regulators need adequate financial resources. My lesson learned to the regulators, read your past lessons learned.

FDIC 78

FDIC Community Bank Regulation Lending 78

Jeff For Banks

DECEMBER 16, 2022

Before we begin and for comparison purposes, here are last year's top five , as measured in December 2021: #1. In 2021, the bank expensed over $530 thousand to the ESOP to benefit employees. and Puerto Rico banking laws and regulations. Silvergate Capital Corporation (NYSE: SI) #2. MetroCity Bankshares, Inc. Nasdaq: MCBS) #3.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

CFPB Monitor

APRIL 1, 2021

In what could be an important step towards needed regulatory updating to accommodate the growing use of artificial intelligence (AI) by financial institutions, the CFPB, FDIC, OCC, Federal Reserve Board, and NCUA issued a request for information (RFI) regarding financial institutions’ use of AI, including machine learning (ML). Uses of AI.

Risk Management 78

Risk Management Training Lending FDIC 78

FICO

JANUARY 13, 2020

While regulators have formed an inter-agency working group to develop viable reform measures, Congress has recently taken action to address the problem. The road to modernizing the Community Reinvestment Act will include some speed bumps. In addition, the Federal Reserve did not join the FDIC and OCC on the proposal.

Policies 52

Policies Las Vegas FDIC Washington 52

CFPB Monitor

APRIL 22, 2021

The agencies are the Comptroller of the Currency, Farm Credit Administration, FDIC, Federal Reserve Board, and National Credit Union Administration (Agencies). Comments on the new proposed Q&As are due by May 17, 2021. Recently, federal agencies proposed revisions to the Interagency Questions and Answers Regarding Flood Insurance.

Policies 60

Policies Compliance Meeting Regulation 60

Abrigo

MARCH 17, 2022

The Stress Test Scenarios for Big Banks Are Useful for Smaller Institutions' Own Tests Banking regulators recently released the 2022 scenarios for upcoming stress tests by the biggest banks. The 2022 stress test scenarios provide a blueprint for community banks and credit unions to get started on their own stress tests.

Capital 195

Capital Regulation Risk Management Community 195

CFPB Monitor

JUNE 22, 2022

After announcing in 2021 their intent to work collaboratively to update the CRA regulations to achieve a more consistent framework, revisions to the CRA’s implementing regulations were recently proposed by the three U.S. banking regulators (the “2022 Joint Notice” or the “Proposal”). Performance Tests and Standards.

Regulation 78

Regulation Community Lending Retail 78

Abrigo

MARCH 13, 2023

Historic collapse SVB is different from other financial institutions The FDIC closure and assumption of Silicon Valley Bank (SVB) – the largest bank failure since 2008 – is a stark reminder that when a crisis occurs, it can spread as fast as a wildfire in dry fields with a strong wind. Well, we know now that is simply not the case.

Strategy 195

Strategy Lending Security Analysis 195

Abrigo

FEBRUARY 8, 2024

billion was lost to fraud through social media between January 2021 and June 2023. Some options include: In-person fraud prevention seminars, either held at a branch location or a local community center. While interacting with friends and family online can be a fun pastime, social platforms are a feeding ground for fraudsters.

Fraud 195

Fraud Resources social media Software 195

Abrigo

SEPTEMBER 14, 2022

2) To enable communities, governmental entities, and creditors to identify business and community development needs and opportunities of women-owned, minority-owned, and small businesses. Those implementing regulations were coming. In fact, it took a lawsuit initiated by a California community group in 2019 to get things moving.

Lending 195

Lending Data Regulation Community 195

CFPB Monitor

DECEMBER 7, 2022

The hearing was held to discuss historical and ongoing discrimination in the financial services industry, and the roles of Congress and regulators in addressing these issues. According to witness testimony: When banks close at higher rates in communities of color, it exacerbates the lack of access for already underbanked households.

Community 78

Community Compliance Industry National 78

CFPB Monitor

JANUARY 28, 2021

The fate of the OCC’s Community Reinvestment Act (“CRA”) final rule , issued on May 20, 2020, hangs in the balance following the inauguration of President Biden on January 20 and the resignation of former Acting Comptroller Brian Brooks, who was a major proponent of the rule, on January 14. Comments are due on February 2, 2021.

Community 131

Community FDIC Lending Survey 131

CFPB Monitor

DECEMBER 8, 2022

As a result, a company that controls an institution that is not a BHCA bank is not required to register as a bank holding company with the Federal Reserve Board and, therefore, is not subject to regulation and supervision by the Federal Reserve Board. 5301) (e.g.

FDIC 78

FDIC Company Industry Regulation 78