Cisco

JULY 12, 2022

Regulatory requirements are a key operational concern that we hear about from our financial customers. A number of our financial institution customers are regulated by multiple, and different, regulatory bodies. The 2021 Updates in the Architecture, Infrastructure, and Operations book. Infrastructure Management.

Regulation 71

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South State Correspondent

APRIL 23, 2023

Analysts, regulators, legislators, and bankers have been attributing the root cause of SVB’s failure in the past month. Some blame the dilution of the Dodd-Frank provisions, others the lack of oversight by regulators, and others still blame social media for exacerbating the deposit run.

Management 195

Management Security Risk Management social media 195

Abrigo

JULY 28, 2021

How the pandemic affected the allowance under the two models Abrigo analyzed proprietary loan-level data from FIs operating under the two different models and found contrasting stories of how reserve and provision levels progressed after the pandemic began. Would you like other articles like this in your inbox? Haven't adopted CECL yet?

Risk Management 195

Risk Management Operations Trends Data 195

Abrigo

DECEMBER 23, 2022

Blog posts to help your asset/liability management (ALM) staff strategize for the future These ALM posts were the most popular in 2022. Our top ten blogs were created by Abrigo's team, which includes former bankers, regulators, and industry experts. Would you like other articles like this in your inbox? Learn more. Keep me informed.

Resources 195

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Abrigo

NOVEMBER 22, 2021

Takeaway 1 Risk tied to consumer lending compliance has been elevated as a result of the pandemic and associated operating challenges. Consumer lending compliance — like other aspects of enterprise risk management at financial institutions — saw a huge impact from the COVID-19 pandemic. Pandemic Issues.

Compliance 195

Compliance Lending Risk Management Regulation 195

FICO

DECEMBER 23, 2020

It has also opened new doors for criminals, who have rushed to exploit the uncertainty in a pandemic world and devised new money laundering and terrorist financing schemes by taking advantage of loopholes in the regulations, new ways of working aided by advances in technology, and electronic payment innovations.

Compliance 52

Compliance Regulation Data Risk Management 52

CFPB Monitor

NOVEMBER 10, 2020

LIBOR, which many creditors currently use as the index for calculating the interest rate on credit cards and other variable-rate consumer credit products, is expected to be discontinued sometime after 2021. In July 2020, the Federal Financial Institutions Examination Council issued a “ Joint Statement on Managing the LIBOR Transition.”

Regulation 78

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Independent Banker

JANUARY 31, 2022

Source: Cornerstone Advisors, “What’s Going on in Banking 2021: Rebounding from the Pandemic,” 2021. A recent report by Cornerstone Advisors found that bankers are either strongly interested in or already working with fintechs in three main areas: digital account opening (71%), mobile wallets (41%) and fraud/risk management (47%).

Community Bank 159

Community Bank Community Fintech Risk Management 159

Perficient

MAY 17, 2022

It seems like everyone in 2021 took out a loan on a new car, even though we all knew supplies were low and demand was high. hit a record $734bn in 2021, according to data from the Federal Reserve Bank of New York. 2021 was a mix of constrained inventory and pent-up demand. It really is a mixed up, muddled up, shook up world.

Strategy 294

Strategy Customer Experience Study Technology 294

Bobsguide

OCTOBER 1, 2022

Prometeia and SIX have entered into a long-term collaboration that involves Prometeia providing SIX the calculation capabilities for a product risk indicator (PRI) for securities that do not fall into the scope of PRIIPs (Packaged Retail and Insurance-based Investment Products) regulation. million in 2021. www.six-group.com.

Analytics 97

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Gonzobanker

FEBRUARY 23, 2022

However, if BaaS is ever going to enhance shareholder value, bankers need to ensure they have the strategic focus, operational savvy, and execution commitment to do it right. infrastructure and the capacity to manage a BaaS strategy to significantly complement the core business. Now is the time to create a BaaS strategy.

Community Bank 118

Community Bank Strategy Risk Management Fintech 118

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. It is likely that regulators will soon ask banks to come up with a plan.

Conference 195

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Abrigo

SEPTEMBER 14, 2022

Takeaway 3 Financial institutions should consider the impact of this rule and prepare for changes to their business operations. Online lenders, platform lenders, and fintechs should also consider sending feedback to the CFPB and considering the ways their operations might be affected. Those implementing regulations were coming.

Lending 195

Lending Data Regulation Community 195

Abrigo

FEBRUARY 15, 2023

Introduction Incorporating the AML/CFT priorities into a risk assessment Not all risks to a financial institution are equal. Since the AML/CFT priorities are still relatively new, the residual risk is most likely considered low to moderate when solid mitigating processes are in place. Many TCOs currently operate in the U.S.,

Fraud 195

Fraud United States Training Policies 195

Perficient

FEBRUARY 10, 2021

While the healthcare industry has long embraced technology, the demand to innovate and adapt quickly has grown exponentially in 2020 and into 2021. Agile has been a part of the Perficient Latin America operational DNA from the beginning. We have helped some of the largest healthcare companies in the U.S.

Software 294

Software Innovation Company America 294

Independent Banker

NOVEMBER 30, 2022

Stacy Watkins (left), president and CEO, and Hilary Nelson (right), senior vice president and director of operations and compliance, at the Las Vegas Strip. Lexicon Bank didn’t wait long to make a splash, sponsoring the 2021 World Series of Poker. We have found a way to service that and get the regulators comfortable.

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Las Vegas Community Bank Community Wisconsin 129

CFPB Monitor

NOVEMBER 22, 2022

The report was issued in response to President Biden’s July 2021 Executive Order on promoting competition. In particular, the report’s recommendations deserve attention because they are likely to influence future actions by the federal banking regulators and the CFPB. (The

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Fintech Report Data Lending 78

Abrigo

SEPTEMBER 20, 2021

They should also consider how they would comply with the regulation, which doesn’t include an asset-based exemption threshold for depository institutions or any other general exemptions for particular types of financial institutions. Stay up to date on small business lending regulation and other lending trends. Collection Requirements.

Lending 195

Lending Data Compliance Regulation 195

Gonzobanker

JULY 10, 2020

In a recent Fortune survey, 55% of corporate executives said they expect to return to 2019 capital spending levels sometime in 2021. How do we elevate our credit and operational risk visibility to ensure capital preservation and demonstrate strength to stakeholders? Risk Management. Getting Back to Work.

Risk Management 88

Risk Management Capital Strategy social media 88

CFPB Monitor

AUGUST 13, 2021

Last fall, Nacha finalized its Meaningful Modernization rule which provides for significant changes to the Nacha Operating Rules. The amendments become effective on September 17, 2021. For certain types of consumer debits, such as check conversions, authorization by notice will still be permitted in accordance with Regulation E.

Risk Management 78

Risk Management Operations Payments Video 78

CFPB Monitor

APRIL 1, 2021

Comments on the RFI must be received by June 1, 2021. Augmenting risk management and control practices. The agencies observe that the potential risks associated with using AI are not unique to AI, such as creating operational vulnerabilities and consumer protection risks (fair lending, UDAAP, privacy).

Risk Management 78

Risk Management Training Lending FDIC 78

CFPB Monitor

APRIL 25, 2022

As we will discuss, the timing of the Consent Order indicates that even when regulators permit crypto activities by financial institutions, they remain cautious, particularly as to BSA/AML compliance. The January 2021 Operating Agreement . The Consent Order.

Compliance 78

Compliance Digital Banking Training South Dakota 78

Cisco

AUGUST 9, 2022

As these have attacks have evolved, regulatory bodies have updated their regulations to account for the increasing threat of cyber risk. financial institutions, the FFIEC released new guidance and a Cybersecurity Assessment Tool for institutions to self assess their risks and determine their cybersecurity maturity.

Tools 114

Tools Leadership Handbook Security 114

FICO

SEPTEMBER 7, 2022

With a cost-of-living crisis and soaring energy costs across Europe and other countries, it's important to re-evaluate debt collections and customer risk management strategies. IFRS9, Collections Strategy, Delinquency and Risk. higher than in Q1-2021. As it now stands, IFRS 9 has split lenders into two camps.

Strategy 52

Strategy Risk Management Management Operations 52

CFPB Monitor

NOVEMBER 29, 2021

Federal banking regulators have been busy in this space. President’s Working Group on Financial Markets, which delineated perceived risks associated with the increased use of stablecoins and highlighted three concerns: risks to rules governing anti-money laundering (“AML”) compliance, risks to market integrity, and general prudential risks.

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

FICO

OCTOBER 7, 2022

As it happens, buy now, pay later (BNPL) breached the $100 billion in mark in 2020 and soared to $157 billion in 2021 , according to FICO partner Worldpay. Collectively, late payments and rising interest rates are likely going to put a squeeze on the 100-plus BNPL firms operating globally. So is regulation.

Fraud 52

Fraud South Carolina San Francisco Regulation 52

CFPB Monitor

JUNE 30, 2022

The SRP warns that “lack of access to subject matter expertise,” funding cutbacks, over-reliance on third parties to assist in these critical functions, and telework are exacerbating compliance risk. Cybersecurity Risks. The OCC has long been concerned with operational risks posed to banks from cyber attacks.

Compliance 78

Compliance Fraud Technology Operations 78

Independent Banker

DECEMBER 31, 2021

If 2020 was the year no one expected, 2021 was a year of resetting expectations. Between a smoldering pandemic, the divisive political landscape and strong, albeit uneven, growth, there was a lot to account for in 2021, and some uncertainty remains. Regulators haven’t yet broached the subject with them. Click to enlarge.

Community Bank 144

Community Bank Community Lending Louisiana 144

CFPB Monitor

NOVEMBER 24, 2020

Comments on the proposal are due by January 4, 2021. The OCC notes that, in the case of energy industries, the terminated services were not limited to lending “where risk factors might justify not serving a particular client,” but also included advisory and other services unconnected to credit or operational risk.

Operations 78

Operations Industry Analysis Policies 78

Independent Banker

MAY 31, 2022

trillion globally by 2025, according to research agency Cybersecurity Ventures, and the Association of Certified Fraud Examiners said that 77% of anti-fraud experts reported they had seen more fraud between May and August 2021. Cybercrime could cost $10.5 But there’s plenty community banks can do to meet this challenge.

Community Bank 134

Community Bank Community Fraud Texas 134

FICO

FEBRUARY 22, 2021

Explainable AI ensures that we know how the model operates, and we can provide reasons and explanations as to why a decision was made at an individual level. There is more awareness for the CDO role because financial firms have been collecting customer data for many years and their use of that data is highly regulated.

Analytics 52

Analytics Data Software Digital Strategies 52

Independent Banker

OCTOBER 1, 2022

It has implications for everything from regulatory compliance and risk management to a bank’s ability to engender trust in its customers. The privacy of customers’ personal information is at the forefront of every community banker’s decisions, says Steven Estep, ICBA assistant vice president of operational risk.

Data 91

Data How To Community Bank California 91

Gonzobanker

DECEMBER 14, 2023

Nearly 2 million customers and $20 billion in deposits since entering the country with a digital bank in 2021. The Bank Regulator Working for Merchants Award! Seems like maybe this has been forgotten when it comes to these regulations. The Champion Becomes a Challenger Award – JPMorgan Chase for Chase U.K.

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Fintech Community Regional Technology 194

BankUnderground

APRIL 13, 2023

This will ensure that insurers continue to accurately assess and manage risks in line with their risk appetite, and that capital for solvency purposes remains appropriate. Our work here builds on exploratory work in 2021. Historically, for simplicity, major modes of natural threat were often modelled separately.

Capital 84

Capital Policies Risk Management Maine 84

FICO

MAY 3, 2023

Operating at highly organized and relentless levels, fraud networks have become a multibillion-dollar, global problem. billion in scams , a 30% increase over 2021. The reputation of lenders is being eroded and the issue is attracting scrutiny from regulators. In the US last year, consumers lost at least $8.8 TJ holds a B.S.

Fraud 52

Fraud Strategy Analytics South Carolina 52

FICO

JUNE 30, 2016

It will be effective in 2020 for Securities and Exchange Commission registrants, and in 2021 for all others. Another lesson learned from the financial crisis was that bank’s IT and data architecture were inadequate to support the management of broad financial risks. The final CECL standard was issued on June 17, 2016.

Compliance 45

Compliance Management Data Risk Management 45

CFPB Monitor

MAY 3, 2021

As discussed in our earlier bl og , the Senate Banking, Housing and Urban Affairs Committee held a hearing on April 28, 2021 entitled “The Reemergence of Rent-a-Bank?”. The hearing focused primarily on the final “True Lender” rule issued by the OCC on October 27, 2020, which was effective December 29, 2020.

North Carolina 60

North Carolina Lending National District of Columbia 60