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How to prepare for FedNow: 5 Steps for your financial institution

Abrigo

Takeaway 1 Implementing the FedNow Service can help reduce interbank obligations, expand market reach, and enhance customer experiences. This blog outlines five essential steps and considerations for an effective FedNow implementation. Implement it smoothly with these tips on preparing for FedNow.

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Change management in banks and credit unions: A key to success

Abrigo

Specifically, examiners are directed to assess how banks are implementing significant changes in the following four areas: Leadership Operations Risk management frameworks Business activities (including the use of third parties to support critical activities).

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How to Win Small Business Loans This Year

Abrigo

Making small business loans efficient and worthwhile Digitalizing the lending process can help financial institutions win small business loans and meet customers' needs. You might also like this webinar on small business lending best practices. Top problems in small business lending. Roadblocks to Success.

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CFPB issues annual fair lending report

CFPB Monitor

The CFPB has issued a new annual report covering its fair lending activities during 2017. Since Mick Mulvaney did not become Acting Director until the end of November 2017, the fair lending activities described in the report largely took place under former Director Cordray’s leadership.

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Lending Club Keeps Pushing Its Comeback

PYMNTS

The last 12 months have undoubtedly been a difficult period for marketplace lending pioneer Lending Club. But the silver lining is that banks appear to be coming back to the Lending Club platform as investors in loan packages. Will it be enough to get Lending Club back on course?

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DOJ, CFPB and HUD officials outline priorities at industry fair lending conference

CFPB Monitor

At an industry fair lending conference last week, officials from the U.S. Department of Housing and Urban Development (“HUD”) outlined fair lending priorities for their agencies. Patrice Ficklin, Fair Lending Director of the CFPB, was also a keynote speaker. Department of Justice (“DOJ”), the CFPB, and the U.S.

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GAO Issues Report Finding that CFPB Needs to Assess the Impact of Recent Changes to its Fair Lending Activities

CFPB Monitor

Specifically, the report examines how the CFPB has (i) managed the reorganization of its Office of Fair Lending and Equal Opportunity and related risks during 2018, (ii) monitored and reported on its fair lending performance, and (iii) used new HMDA data fields to analyze and support its fair lending activities.

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