2021, FDIC, Risk Management and Security

Bank Regulators Seeking Comments on the Use of AI and ML in the Industry

Perficient

APRIL 2, 2021

The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the. Risk Management. AI may be used to augment risk management and control practices.

Regulation

Regulation Industry Risk Management Analysis

Community Bank Outlook: Challenges and Opportunities in 2021 and Beyond

Abrigo

AUGUST 6, 2021

How can community financial institutions thrive in 2021? according to FFIEC and FDIC data. Additionally, community financial institutions are more likely to leverage relationship lending to help smaller businesses obtain loans that they might not be able to secure with larger institutions based solely on their financial information.

Community Bank

Community Bank Community Kansas City Lending

Fraud prevention and detection: Empowering clients through education

Abrigo

FEBRUARY 8, 2024

Takeaway 2 Client fraud education at financial institutions should include takeaways that explain how to protect themselves from phishing and tips for staying secure online. While fraud detection software and robust security measures are essential, educating clients on fraud prevention is equally important. According to the FTC , $2.7

Fraud

Fraud Resources social media Software

Webinars

Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

MORE WEBINARS

Does your bank need cyber insurance?

Independent Banker

OCTOBER 1, 2022

Steps such as multi-factor authentication have proven to be highly effective and are viewed as minimum security features for banks seeking cyber insurance. Some insurance carriers even offer discounts for banks that have additional layers of security, such as multi-factor authentication or end-point detection and remediation.

Montana

Montana Policies Resources FDIC

Consumer Lending Compliance: Hot-Button Issues to Monitor

Abrigo

NOVEMBER 22, 2021

Consumer lending compliance — like other aspects of enterprise risk management at financial institutions — saw a huge impact from the COVID-19 pandemic. Numerous regulatory resources go into detail, including fair lending videos from the FDIC and examination procedures published on the Consumer Financial Protection Bureau’s website.

Compliance

Compliance Lending Risk Management Regulation

Federal banking agencies issue guide for community banks on conducting due diligence on fintech companies

CFPB Monitor

AUGUST 31, 2021

The OCC, FDIC, and Federal Reserve Board have issued a guide that is intended to assist community banks in conducting due diligence when considering relationships with financial technology (fintech) companies (Guide). Risk management policies, processes, and controls. Information security program and information systems.

Community Bank

Community Bank Community Fintech Company

Federal banking regulators issue statement on loan reference rates and advise prompt transition from LIBOR

CFPB Monitor

NOVEMBER 10, 2020

The Fed, FDIC, and OCC have issued a “ Statement on Reference Rates for Loans ” that addresses replacement rates for the London Inter-Bank Offered Rate (LIBOR). In July 2020, the Federal Financial Institutions Examination Council issued a “ Joint Statement on Managing the LIBOR Transition.”

Regulation

Regulation FDIC New York Lending

5 Reasons to Increase SBA Loan Origination at Your Bank or Credit Union

Abrigo

JULY 20, 2021

During Abrigo’s recent ThinkBIG Conference, credit underwriting and loan portfolio risk management trainer and consultant Michael Wear , CRC , of 39 Acres Corp. The change is intended to improve security, integration, reporting features, and validation to improve accuracy. We know 2020 stunk,” he said. “As

Lending

Lending FDIC Capital Risk Management

5 Reasons to Increase SBA Lending at Your Bank or Credit Union

Abrigo

JULY 20, 2021

During Abrigo’s recent ThinkBIG Conference, credit underwriting and loan portfolio risk management trainer and consultant Michael Wear , CRC , of 39 Acres Corp. The change is intended to improve security, integration, reporting features, and validation to improve accuracy. We know 2020 stunk,” he said. “As

Lending

Lending FDIC Capital Risk Management

An Introduction to Understanding FFIEC Regulations

Cisco

JULY 12, 2022

This leads to many generations of installed technology sets with diverse hardware and software systems, all that need to be tracked and managed, secured, and audited. Regular external examination is a necessary challenge to ensure hygiene of these systems are maintained amidst a backdrop of increasing cyber risk. In the U.S.

Regulation

Regulation FDIC System Software

Treasury report on bank/fintech relationships includes recommendations for CFPB supervision of non-bank installment lenders and data aggregators

CFPB Monitor

NOVEMBER 22, 2022

The report was issued in response to President Biden’s July 2021 Executive Order on promoting competition. The Federal Reserve, FDIC, and OCC should finalize the interagency guidance for banks on managing risks associated with third-party relationships that was proposed in July 2021.

Fintech

Fintech Report Data Lending

Predicting the Next Banking Crisis Is a Fool’s Game. Not Learning From the Last One: Equally Foolish

Jeff For Banks

JUNE 2, 2023

And quite frankly, I did not know there were so many tranches to mortgage-backed securities. According to the FDIC, the causes of the 2008-09 financial crisis lay partly in the housing boom and bust of the mid-2000s; partly in the degree to which the U.S. The Fed Funds rate was zero in December 2021. Good times.

FDIC

FDIC Community Bank Regulation Lending

Federal banking agencies Issue “Crypto Asset Roadmap” for 2022 guidance; OCC confirms prior interpretive letters on crypto (but adds no-objection requirement)

CFPB Monitor

NOVEMBER 29, 2021

OCC Interpretive 1174 , issued on January 4, 2021 and addressing (1) whether banks may act as nodes on an independent node verification network ( e., distributed ledger) to verify customer payments, and (2) whether banks may engage in certain stablecoin activities to facilitate payment transactions on a distributed ledger.

Compliance

Compliance cryptocurrency Regulation FDIC

Preparing for Section 1071

Abrigo

SEPTEMBER 14, 2022

In February 2020, a settlement was reached, and by September 2021 the CFPB had issued the NPRM. This requirement may be burdensome for institutions that either don’t have the IT staff to set up the digital infrastructure for such a firewall or don’t have the resources to secure a third-party solution. Credit Risk Management.

Lending

Lending Data Regulation Community

Who were ICBA’s Top Lenders of 2022?

Independent Banker

JUNE 30, 2022

But as they always do, they came through for individuals and businesses in their communities with a combination of personalized service and prudent risk management practices. Using FDIC data for 2021, we calculated a lender score out of 100 for each community bank. Security Bank Midwest. Security Bank.

Community Bank

Community Bank Community National Philadelphia

Community Banking Brief

Bank Regulators Seeking Comments on the Use of AI and ML in the Industry

Community Bank Outlook: Challenges and Opportunities in 2021 and Beyond

Webinars

Trending Sources

Fraud prevention and detection: Empowering clients through education

Webinars

Does your bank need cyber insurance?

Consumer Lending Compliance: Hot-Button Issues to Monitor

Federal banking agencies issue guide for community banks on conducting due diligence on fintech companies

Federal banking regulators issue statement on loan reference rates and advise prompt transition from LIBOR

5 Reasons to Increase SBA Loan Origination at Your Bank or Credit Union

5 Reasons to Increase SBA Lending at Your Bank or Credit Union

An Introduction to Understanding FFIEC Regulations

Treasury report on bank/fintech relationships includes recommendations for CFPB supervision of non-bank installment lenders and data aggregators

Predicting the Next Banking Crisis Is a Fool’s Game. Not Learning From the Last One: Equally Foolish

Federal banking agencies Issue “Crypto Asset Roadmap” for 2022 guidance; OCC confirms prior interpretive letters on crypto (but adds no-objection requirement)

Preparing for Section 1071

Who were ICBA’s Top Lenders of 2022?

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