CFPB Monitor

FEBRUARY 12, 2024

On February 2, 2024, three Republican members of the House Financial Services Committee sent a letter to Federal Deposit Insurance Corporation (“FDIC”) Chair Martin Gruenberg expressing concern regarding what the congressmen perceive to be the FDIC’s attempts to reduce engagement with industry participants on financial technology and innovation.

Innovation 78

Innovation FDIC Regulation Financial Technology 78

CFPB Monitor

OCTOBER 26, 2023

Although the final rule is effective April 1, 2024, the compliance date for the majority of the rule’s provisions is January 1, 2026. . Continue Reading

Community 78

Community FDIC Compliance Regulation 78

Perficient

DECEMBER 27, 2023

Additionally, the recent rule by the OCC, the Federal Reserve, and the FDIC strengthens and modernizes Community Reinvestment Act (CRA) regulations. The effective date of the new rule is April 1, 2024, with key provisions taking effect on January 1, 2026, and January 1, 2027. Banks

Compliance 221

Compliance FDIC Regulation Fraud 221

CFPB Monitor

MAY 22, 2020

Although the OCC’s proposed revisions were issued jointly with the FDIC, the FDIC did not join in the final rule. Banks subject to the small and intermediate bank performance standards must comply with the new CRA framework by January 1, 2024. The final rule applies to national banks and federal savings associations.

FDIC 78

FDIC Lending Retail Compliance 78

South State Correspondent

SEPTEMBER 12, 2022

We examine all FDIC-insured commercial banks and S&L associations over the last three decades and plot COF versus short-term rates. Quantitative Tightening: In this cycle, the Fed announced quantitative tightening at $95Bn/mo, and this pace is expected to remove almost all banks’ excess deposits in 2024.

Community Bank 195

Community Bank Community Industry Online 195

Independent Banker

DECEMBER 31, 2022

The FDIC approved a final rule to increase initial base deposit insurance assessment rates by 2 basis points until the Deposit Insurance Fund (DIF) achieves the FDIC’s long-term goal of a reserve ratio of 2% of insured deposits. The FDIC’s long-term goal for the reserve ratio of insured deposits. Source: FDIC.

Compliance 100

Compliance FDIC Community Bank Community 100

American Banker

DECEMBER 28, 2023

Though new bank formation slowed somewhat in 2023, with only five de novos opening, the stage appears set for a more active year in 2024 with a number of groups working toward a charter.

Groups 36

Groups FDIC Community Bank Industry 36

PopularBank

DECEMBER 11, 2023

Effective January 1, 2024, Carlos Hernandez will be Division Manager for PAB. Services offered include Community Association Loans, Community Association Deposit Services, Community Association Lockbox Services, Treasury Management services, plus excess FDIC insurance coverage on deposits as members of IntraFi Network, LLC.

Management 52

Management Florida Community Leadership 52

CFPB Monitor

JANUARY 28, 2021

Specifically, large banks and wholesale and limited purpose banks must comply by January 1, 2023, and small and intermediate banks that choose to opt-in to the performance standards contained in the OCC’s final rule have until January 1, 2024 to comply.

FDIC 131

FDIC Community Lending Survey 131

PYMNTS

NOVEMBER 14, 2019

digital and physical goods that’s expected by 2024. According to an FDIC study , 6.5 It’s easy to get caught up in the hype of new sharing economy platforms. “ The Uber of furniture ,” P2P closet-sharing and crowdshipping all certainly sound innovative. There’s a lot of competition to capture the $6 trillion in online payments for U.S.

Payments 124

Payments United States Online Google 124

CFPB Monitor

JUNE 15, 2020

The OCC acted alone in issuing the final CRA rule without waiting to achieve consensus with the FDIC, the agency with which the OCC had jointly issued the proposed rule. Our next blog post will address differences among the OCC’s final rule, the FDIC’s proposed rule, and the Federal Reserve’s existing regulations.

Community 60

Community FDIC Lending Examples 60

Fintech Labs Insights

NOVEMBER 10, 2023

Related: The 25 Biggest Banking, Mortgage, Lending & BankTech Events in 2023 & 2024 The 10 Biggest Investment Advisor Technology & Investech Conferences in 2023 & 2024 The 14 Biggest Payments & Card Industry Conferences & Events in 2023 & 2024 Related Stories Reacting Quickly to SVB Fallout, Mercury Launches Vault, (..)

Digital Banking 15

Digital Banking Online Atlanta Las Vegas 15

CFPB Monitor

JUNE 25, 2020

Small and intermediate banks must comply with the rule by January 1, 2024. Until the FDIC and Board of Governors of the Federal Reserve System take action, state nonmember banks and state member banks will continue to comply with the current rule, as codified in 12 CFR Part 228 and Part 345.

Community 97

Community Lending Meeting Retail 97

Abrigo

FEBRUARY 8, 2024

Check fraud alone, the most significant current fraud threat, is projected to create losses of $24 billion in 2024. The Federal Trade Commission (FTC) reports that U.S. consumers lost more than $7 billion during the first three quarters of 2023, up 5% compared to the same period in 2022.

Fraud 195

Fraud Resources social media Software 195