Abrigo

SEPTEMBER 14, 2022

Financial institutions, fintech companies, and other small business lenders will need to begin collecting a wide array of small business lending data under the Consumer Financial Protection Board’s (CFPB) proposed small business lending data collection rule. The proposed rule , unveiled Sept. Points of Note. Controversial Provisions.

Lending 195

Lending Data Regulation Community 195

CFPB Monitor

MARCH 28, 2022

As we approach the two-year anniversary of the passage of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), the scope and costs of fraud in connection with its relief programs continues to mount. Throughout 2021, the House of Representatives Select Subcommittee on the Coronavirus Crisis, headed by Rep.

Fraud 146

Fraud Compliance Lending Policies 146

Abrigo

MAY 10, 2021

Knowing these elements of an LOS and an LOS vendor is critical for senior financial institution executives either shopping for an LOS for the first time or considering an improvement to their bank or credit union’s current business lending process. Lending process management is key to timely decisions. Workflow & Analysis.

System 195

System Lending Analysis Software 195

CFPB Monitor

OCTOBER 4, 2022

The DOJ’s lawsuit against Lakeland, filed in a New Jersey federal district court, is part of the DOJ’s nationwide “ Combating Redlining Initiative ” launched in October 2021. In the majority-white neighborhoods in the Newark Lending Area, residential mortgage services were available at branches to walk-in customers.

New Jersey 147

New Jersey Lending Community National 147

CFPB Monitor

JUNE 30, 2022

Of special note, the OCC also believes compliance risk is “heightened” for Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) compliance because of world events and compliance staffing concerns. BSA/AML Compliance Risks. Cybersecurity Risks.

Compliance 78

Compliance Fraud Technology Operations 78

Abrigo

NOVEMBER 1, 2021

You might also like this whitepaper, "The 2021 BSA/AML and Fraud Staff Survey: Top Issues for FinCrime Fighters". Takeaway 1 BSA and fraud functions have historically been siloed, and IT has been external to compliance. Meanwhile, the IT security function has historically been entirely out of financial institutions' compliance areas.

Fraud 195

Fraud Video Training Compliance 195

CFPB Monitor

JULY 6, 2021

The CFPB has released the Summer 2021 edition of its Supervisory Highlights. Not complying with the FCRA 3-business day requirement for placing a security freeze on a consumer’s credit report after receiving the consumer’s freeze request. Fair lending. Payday lending.

Lending 78

Lending Report Regulation Analysis 78

BankInovation

MAY 5, 2023

in March following a cease-and-desist order from a standard review in 2021 regarding “unsafe and unsound banking practices related to its compliance with applicable fair lending laws,” according to the consent agreement. “We Tech-forward Cross River Bank reached a consent agreement with the Federal Deposit Insurance Corp.

Compliance 52

Compliance Lending FDIC Security 52

Abrigo

MAY 24, 2023

Bipartisan support The SAFE Banking Act's long road to the Senate Many in the AML/CFT community have been watching the unfolding of the Secure and Fair Enforcement (SAFE) Banking Act for some time now with no significant progress.

Lending 195

Lending Fraud Operations Ohio 195

Abrigo

JANUARY 13, 2021

As part of the new $2 trillion coronavirus stimulus bill, the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act ( Economic Aid Act ), Congress authorized this round of PPP funding, which is available beginning Monday, January 11, 2021 for certain small businesses. Lending & Credit Risk. SBA Lending.

Fraud 195

Fraud Community Lending Analysis 195

Abrigo

JUNE 15, 2023

At the end of 2021, the Biden administration announced they would pay closer attention to corruption in the real estate market, focusing on the all-cash transactions in commercial and residential real estate. “The national security and the integrity of the U.S. You might also like this Russian sanctions compliance checklist.

Training 195

Training Regulation Compliance System 195

Abrigo

JULY 12, 2021

and Germany which was released June 30, 2021. This new guidance will assist countries and the private sector in understanding and documenting these risks and prepare accordingly for this serious threat to international peace and security. The second 12-month review was published July 5, 2021. Lending & Credit Risk.

Training 195

Training Policies United States Report 195

Independent Banker

JUNE 30, 2022

Here, we highlight some of last year’s most successful loan producers in the areas of agriculture, commercial and consumer/mortgage lending. Using FDIC data for 2021, we calculated a lender score out of 100 for each community bank. Ag lending in the South: Relationships matter. It also indirectly benefits our lending business.

Community Bank 172

Community Bank Community National Philadelphia 172

CFPB Monitor

MARCH 31, 2022

DACA recipients receive a social security number with a special designation indicating that that the holder is not a citizen or a permanent resident. Camacho submitted her social security number and her application was pre-approved. According to her complaint, Ms.

CA 78

CA United States California Lending 78

CFPB Monitor

JANUARY 28, 2021

As a result of the PAs, the Bureau initiated significantly more fair lending supervisory events during the period covered by the report than during the prior reporting period. During the period covered by the report, the Bureau filed one fair lending public enforcement action and referred three ECOA matters to the DOJ. to 1:30 p.m.

Report 78

Report Leadership Lending Regulation 78

Abrigo

JULY 16, 2021

FinCEN Releases 8 AML/CFT Priorities These priorities were published June 30, 2021, highlighting several areas of heightened risk for the U.S. These priorities were published June 30, 2021, highlighting several areas of heightened risk for the U.S. financial system and national security. Lending & Credit Risk.

Community 195

Community Regulation Training Policies 195

BankUnderground

APRIL 28, 2023

Ideally, a framework for smaller banks would take into consideration their simpler and specialised business models, the limited financial stability implications of their failure, and the disproportional compliance costs they face compared to larger banks. Debt securities 8762 1790.39 Debt securities 8762 1790.39 Cash 8762 1413.30

Capital 84

Capital Lending US Data 84

CFPB Monitor

NOVEMBER 22, 2022

The report was issued in response to President Biden’s July 2021 Executive Order on promoting competition. The report attributes the risk that such schemes will arise to bank/fintech relationships that “lack proper regulatory oversight or principles for responsible lending.”

Fintech 78

Fintech Report Data Lending 78

CFPB Monitor

APRIL 14, 2021

The law contains exemptions and carve-outs for, among other things, depository institutions, financings of more than $500,000, closed-end loans with a principal amount of less than $5,000, and transactions secured by real property. Comments on the modifications must be submitted to the DFPI by April 26, 2021. Signature requirements.

CA 78

CA Regulation California New York 78

CFPB Monitor

JUNE 14, 2021

In March 2021, Illinois Governor Pritzker signed into law SB 1792 , which contains the Predatory Loan Prevention Act (the “Act”). In April 2021, the IDFPR issued a series of FAQs on the Act that listed “pawn loans” as an example of loans covered by the Act.

Illinois 78

Illinois Regulation Report Lending 78

South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. As such, the National Security Agency (NSA ) is calling for banks to be compliant by 2030.

Conference 195

Conference Payments Fraud Data 195

Abrigo

AUGUST 22, 2022

You might also like this webinar, "Balancing compliance risk & reward with high-risk businesses." The 2021 AFP Payments Fraud and Control Survey reported 66% of fraud activity included check fraud in 2020. Lending & Credit Risk. “Novel” Risk Management for Banking Leaders in 2021. Learn More.

Fraud 195

Fraud Trends Survey Technology 195

FICO

OCTOBER 6, 2021

Nominations are due December 3, 2021 , and winners will be announced on January 28, 2022. Regulatory Compliance. We are calling on our customers who are achieving outstanding success using analytics and decision management solutions from FICO to submit nominations for the awards. . New ESG Champion Category. Cloud Deployment.

Analytics 52

Analytics Conference Compliance Management 52

CFPB Monitor

OCTOBER 4, 2022

A previous version of these procedures referenced the Regulation Z definition of “private education loans” which differs from the Truth in Lending Act definition. Transcript withholding. The CFPB observed that some postsecondary schools withhold official transcripts from students who are delinquent on a debt owed to the school.

Policies 146

Policies Compliance Payments Training 146

FICO

APRIL 28, 2020

Our winners have innovated in lending, supply chain optimization, customer management, debt collection, fraud and financial inclusion. Fraud & Security. Regulatory Compliance. They come from all corners of the globe and many varied sectors of the economy. Les Yeamans , founder at RT Insights. by Nikhil Behl.

Analytics 52

Analytics Fraud Management Innovation 52

FICO

NOVEMBER 23, 2021

Armando Junior, general manager, risk and compliance at Dock (previous winner) . Dinesh Suresh, head, digital builds for consumer secured lending at OCBC Bank (previous winner). Nominations are due December 3, 2021, and winners will be announced January 28, 2022. by Nikhil Behl.

Meeting 52

Meeting Analytics Risk Management Management 52

PYMNTS

JUNE 27, 2018

The global market for AI and machine learning (ML)-enabled solutions is currently valued at $12 billion, per some recent projections , and set to be worth more than $57 billion by 2021. At the end of the day, I think this technology is going to be great for the business in the long term,” Ward explained. “I

Digital Banking 148

Digital Banking Technology Management Risk Management 148

CFPB Monitor

DECEMBER 29, 2020

In accordance with the rulemaking timetable established by the Stipulated Settlement Agreement in the lawsuit filed against the Bureau alleging wrongful delay in adopting regulations to implement Section 1071, the Bureau released an outline of the proposals under consideration in September 2021 and convened the Panel in October 2021.

Report 78

Report Leadership Meeting Industry 78

CFPB Monitor

JULY 6, 2020

The agenda’s preamble indicates that the information in the agenda is current as of March 5, 2020 and identifies the regulatory matters that the Bureau “reasonably anticipates having under consideration during the period from May 1, 2020 to April 30, 2021.”. Qualified Mortgage Definition under the Truth in Lending Act (Regulation Z).

Regulation 78

Regulation Policies FDIC Lending 78

Abrigo

DECEMBER 20, 2021

Whether that is the case or not, the reprieve is now over. On December 16, 2021, FinCEN announced an $8 million civil money penalty against CommunityBank of Texas (CBOT) for willful Bank Secrecy Act (BSA) violations and failing to maintain an effective anti-money laundering (AML) program. Lending & Credit Risk. Learn More.

Resources 195

Resources Texas Analysis System 195

Gonzobanker

DECEMBER 19, 2022

In 2021, there were more than 120 fintech IPOs in the U.S., SoFI gets a commercial bank that brings deposits, compliance, AND business lending. Newman also architected 25 business acquisitions from 2000 through 2021. Now that’s what you call a change of momentum. with Coinbase alone attracting $86 billion.

Community 216

Community Fintech Industry Innovation 216

Independent Banker

JULY 31, 2022

During the pandemic, the Fed bought up massive numbers of mortgage-backed securities, with banks enjoying unprecedented sales levels and gain on sales margins. The days of people coming in to cash their Social Security checks—those are pretty much gone. Staying profitable and secure by warding off IT risk. Strengthen controls.

Strategy 135

Strategy Community Bank Louisville Community 135

Gonzobanker

DECEMBER 14, 2023

We remember his architecting the legendary Bank of America and Security Pacific merger on the West Coast. Richard Durbin for his continued assault on the industry’s ability to make money supporting safe, secure consumer and business payments. It seems this “seasoned executive” had quite a few holes in his storied resume.

Fintech 194

Fintech Community Regional Technology 194

Abrigo

FEBRUARY 24, 2022

Institutions secure financial instruments at a certain rate based on the market rates as of a specific point in time. The rule is effective for credit union examinations starting on or after April 1, 2022, and examiners will focus on compliance with this component in upcoming exams, according to the NCUA’s 2022 Supervisory Priorities.

Management 195

Management Analysis Strategy Policies 195

FICO

JUNE 17, 2021

In the build-up to Euro 2021, the countries of Europe hold their breath, experience sleepless nights and cold sweats in anticipation of the trials and tribulations of a football tournament. Surely, not all of these mechanisms are as secure as each other, so there is a relationship between payment methods and fraud risk. New schemes.

Fraud 52

Fraud Payments Retail Cards 52

CFPB Monitor

JANUARY 16, 2019

Residential mortgage backed securities (RMBS) data from IMF, Bloomberg, L.P., Based on the presumption of compliance with the rule, which is conclusive for non-higher priced loans, mortgage lenders mainly will originate a QM loan when possible. Application-level data from nine lenders covering over 9 million applicants.

Survey 60

Survey Data Analysis Policies 60