CFPB Monitor

AUGUST 19, 2019

General asset-based lending transaction disclosure formatting. Examples of asset-based lending and factoring transactions. In addition to general formatting and content requirements, the proposal includes detailed provisions that address: Closed-end transaction formatting and content requirements. Factoring disclosure formatting.

Regulation 68

Regulation CA California Lending 68

CFPB Monitor

JUNE 15, 2022

SB 1235, codified at CA Financial Code (Code) sections 22800-22805, requires a “provider,” meaning a person who extends a specific offer of “commercial financing” as defined in Code section 22800(d) to a recipient, to give the recipient certain disclosures at the time the provider extends the offer.

California 78

California Regulation CA Utah 78

CFPB Monitor

JANUARY 7, 2022

Most significantly, it means that other consumer protection requirements applicable to consumer credit are potentially applicable to the Premium Agreements such as state usury laws and federal and state disclosure and fair lending laws. Bail-related agreements are also the subject of a CFPB enforcement action filed in February 2021.

CA 78

CA California Regulation Payments 78

CFPB Monitor

JANUARY 7, 2020

According to the DBO in its Statement of Issues , license denial was warranted because Sezzle had engaged in unlicensed point-of-sale lending. In the first action, the DBO denied the application of Sezzle Inc. for a lender’s license under the California Financing Law (CFL).

CA 78

CA California Regulation Analysis 78

South State Correspondent

JANUARY 16, 2024

Barings Bank, Orange County (CA), Enron, Long-Term Capital Management, and other entities misused derivatives or didn’t understand the difference between hedging and speculating. There are many historical examples of some sophisticated and some less sophisticated entities imploding from the risk of derivatives.

Community Bank 195

Community Bank Community Compliance CA 195

CFPB Monitor

DECEMBER 5, 2018

Disclosures for factoring and asset-based lending transactions with master financing agreements (The DBO asks what rules it should establish to clarify when disclosures based on estimates are permitted and to govern what examples, such as financing amount, a provider may use in disclosures.).

Regulation 74

Regulation CA Policies Examples 74

CFPB Monitor

AUGUST 21, 2018

Although unconscionability claims of this nature will be difficult to prosecute, the decision creates heightened risk for nonbank consumer lenders doing business in California, particularly when lending at high rates.

California 68

California CA Lending Regulation 68

Filene

OCTOBER 24, 2017

QCash - An omni-channel lending solution that offers relationship based underwriting (without credit check) to members in search for small, short-term unsecured loans. Innovation Immersion - Filene’s Innovation Immersion program helps credit unions execute on innovation, ideas, and cultural change.

Sacramento 28

Sacramento CA social media Innovation 28

Filene

JULY 26, 2017

QCash - An omni-channel lending solution that offers relationship based underwriting (without credit check) to members in search for small, short-term unsecured loans. Innovation Immersion - Filene’s Innovation Immersion program helps credit unions execute on innovation, ideas, and cultural change.

Fresno 28

Fresno CA social media Innovation 28

PYMNTS

APRIL 25, 2017

Vullo in January penned a letter to the OCC in which she said banks with national charters don’t have to abide by state lending rules, and that the new charter could allow payday lenders to sign up for protections meant for tech companies.

Fintech 109

Fintech Ohio Florida Oregon 109

CFPB Monitor

JANUARY 5, 2016

James Kim and Jeremy T. Rosenblum. A federal district court has refused to dismiss the lawsuit filed by the CFPB in December 2013 against CashCall, several related companies and their principal, which asserted UDAAP violations based on the defendants’ efforts to collect loans that were purportedly void in whole or in part under state law.

CA 60

CA North Carolina Company Massachusetts 60

PYMNTS

DECEMBER 7, 2017

We have been cooperating with the CA Department of Insurance (DOI) over the course of this year.” The regulator contends Wells Fargo failed multiple times to fix the problems with its auto insurance and mortgage lending units, as well as its other business lines. The OCC gave the bank until Nov. 24 to respond.

California 108

California CA Regulation Policies 108

Filene

MAY 9, 2016

QCash - An omni-channel lending solution that offers relationship based underwriting (without credit check) to members in search for small, short-term unsecured loans. Innovation Immersion - Filene’s Innovation Immersion program helps credit unions execute on innovation, ideas, and cultural change.

San Jose 28

San Jose CA social media Innovation 28

BankUnderground

JULY 7, 2020

The yellow and blue series display the new “global” data in nominal and real terms: these have to be constructed from a wide array of scattered archival and printed sources, and should be thought of as a DM public long-term debt series that incorporates both consolidated and unconsolidated voluntary lending across the full risk spectrum.

CA 111

CA Trends Exercises Data 111

CFPB Monitor

AUGUST 22, 2016

According to the CFPB, the new members “include experts in consumer protection, financial services, community development, fair lending, civil rights, consumer financial products or services, representatives of community banks and credit unions, and scholars with relevant methodological and subject matter experience.”

San Antonio 60

San Antonio Kansas City Groups CA 60

Abrigo

AUGUST 3, 2017

For perspective, a mere 4 banks have opened since 2011, and two of those were in 2017 alone: both International Bank of Commerce of Oklahoma City, OK, and Blue Gate Bank of Costa Mesa, CA, opened in January 2017. Learn more about how Sageworks can help banks and credit unions grow profitably and mitigate risk.

Oklahoma City 150

Oklahoma City FDIC Handbook Oklahoma 150

PYMNTS

JANUARY 3, 2020

In today’s top payments news, Apple’s share price hit a record high above $300 on Thursday, “buy now, pay later” company Sezzle was denied a lending license from California and a European Central Bank policymaker urged area banks to seek alternatives to Libra. CA Denies Lending License For BNPL Firm Sezzle.

CA 130

CA Lending South Dakota Apple 130

CFPB Monitor

SEPTEMBER 21, 2020

Nikitra Bailey, EVP, Center for Responsible Lending (Durham, NC). Leigh Phillips, President and CEO, EARN DBA SaverLife (San Francisco, CA). Bruce Ocko, Senior VP Director of Mortgage & Consumer Lending, Bangor Savings Bank (Bangor, ME). Nadine Cohen, Managing Attorney, Greater Boston Legal Services (Boston, MA).

DC 78

DC Mississippi Washington Oklahoma City 78

CB Insights

APRIL 17, 2018

Operating Location: San Francisco, CA. Operating Location: San Francisco, CA. Operating Location: Menlo Park, CA. Operating Location: San Francisco, CA. Operating Location: Menlo Park, CA. Operating Location: San Francisco, CA. Current Firm: Benchmark. Current Firm: Sequoia Capital. BRIAN SINGERMAN.

San Francisco 71

San Francisco CA Capital Operations 71

American Banker

OCTOBER 30, 2016

Are big banks too lumbering to be real competitors to online lending startups? Goldman Sachs, Wells Fargo and Quicken have all entered the digital lending business, putting early entrants on the defensive. We're about to find out.

Lending 28

Lending Online CA Regional 28

American Banker

APRIL 21, 2016

Lending Club said Thursday that it has hired Sameer Gulati, formerly of McKinsey & Co., to be its chief operations officer and promoted another executive, Scott Sanborn, to president. Both are newly created positions at the nonbank lender.

Operations 28

Operations Lending CA 28

American Banker

JULY 21, 2016

Banc of California's second-quarter profits soared on stronger lending and credit quality. billion-asset company increased net income 66% from a year earlier to $26.5 million, it said in a news release Thursday.

California 28

California Lending Company CA 28

PYMNTS

MARCH 16, 2016

Adam Schiff (D-CA) and Steve Stivers (R-OH) and included the signatures of 329 lawmakers. This letter was drafted by Reps. “Credit unions and community banks do not pose any systemic risk, yet the CFPB continues to issue rules that disproportionately hurt those community financial institutions,” Stivers said in a statement.

Community Bank 100

Community Bank Community CA Regulation 100

Fintech Labs Insights

MAY 12, 2015

Cloud Lending Solutions debuted CL Exchange, a lending solution built natively on Salesforce.com: “Imagine Lending Club, Prosper, and other leading online lenders exchanging consumer or business loan applications within a global exchange. HQ: San Mateo, CA. ” Presenting Snehal Fulzele (CEO & Co-Founder).

Lending 12

Lending CA Strategy Online 12

American Banker

NOVEMBER 3, 2016

which reported a third-quarter loss tied to credit issues, has elevated two lending officers to executive-level posts. Opus Bank in Irvine, Calif.,

Lending 28

Lending Report CA Community Bank 28

Fintech Labs Insights

MAY 13, 2015

CUneXus showed off cplXpress : “Our cplXpress platform allows lending institutions to empower their customers with perpetual loan approval across multiple product lines. HQ: Santa Rosa, CA. The post CUneXus Demos Comprehensive PreScreened Lending Platform appeared first on Finovate. Product Launch: December 2013.

Lending 12

Lending San Francisco CA Mobile 12

South State Correspondent

SEPTEMBER 20, 2022

It was agreed that too many lines of business, such as treasury management, commercial lending, and commercial deposits, are not utilizing their marketing departments enough, given the tremendous value of their products. The top part of this range seems to be around 10.5%. Bank Marketing Lesson 7: Multicultural Marketing.

Conference 195

Conference Marketing social media Data 195

Fintech Labs Insights

OCTOBER 13, 2020

Description: Alternative credit scoring and lending in emerging markets. HQ: Belmont, CA. HQ: Sunnyvale, CA. HQ: Oakland, CA. Or watch just the 3-minute pitches that interest you below. Pentina 4-minute pitch @Techstars. Business model: Consumer app through partners. Raised: $670k (per Crunchbase). Vested Finance.

San Francisco 15

San Francisco CA Fintech Oakland 15

American Banker

APRIL 8, 2016

The findings from the California Department of Business Oversight, which also included data on interest rates and delinquencies, could be a precursor to new state regulations.

Lending 28

Lending Report California Regulation 28

Fintech Labs Insights

AUGUST 17, 2015

Headquarters: Redwood City, CA. Prosper , online P2P lending platform. Headquarters: San Francisco, CA. Last year only two, Lending Club (ranked 248) and OnDeck (ranked 726), made the top 1,000. WePay , payment technology provider for online platforms and marketplaces. Founded: 2008. 3-year revenue growth: 43x.

San Francisco 12

San Francisco CA Atlanta Big Data 12

American Banker

OCTOBER 24, 2016

Opus Bank in Irvine, Calif., reported a larger-than-forecast quarterly loss after deciding to set aside more reserves than it predicted it would a week earlier.

Report 28

Report Lending CA Community Bank 28

CFPB Monitor

SEPTEMBER 10, 2020

The bill exempts depository institutions; persons licensed under the state’s Financing Law, Residential Mortgage Lending Act, or Real Estate Law; persons subject to the Rental-Purchase Act; a trustee performing acts in connection with a nonjudicial foreclosure; and debt collection regulated by the Student Loan Servicing Act.

California 122

California Regulation Innovation Lending 122

Fintech Labs Insights

JANUARY 24, 2022

Lending 3.0 San Diego, CA. MoneyLive Summit. by FintechTalents. Empire Fintech Conference. AI in Finance Summit (New York). Defi Retreat. Fintech Summit. Orlando, FL. 3-May-22.

Conference 15

Conference Fintech Las Vegas San Diego 15

NCR

MARCH 15, 2016

In today’s world, banks base their lending on the most recent tax returns. When it comes to determining whether or not a bank should consider lending to a company, a CPA is the one of the most valuable resources. If done properly, the application process will benefit both the applicant and the lending institution. . Bradford L.

Taxes 40

Taxes CA Lending Strategy 40

Fintech Labs Insights

SEPTEMBER 3, 2020

And more recently, Lending Club has a $185M acquisition of Radius Bank pending, though the lender’s $80M Q2 loss is not going to help ease regulators’ concerns. There have been just two examples in the last 20 years. Back in the early post-financial-crisis days, 2011, Green Dot picked up Utah’s Bonneville Bancorp for $16M.

Fintech 15

Fintech FDIC Oakland Minnesota 15

American Banker

MAY 9, 2016

State officials in California have asked top online lending firms a series of probing questions regarding their compliance with laws and regulations dealing with referral fees, bank partnerships, fair lending and other sensitive issues.

Regulation 28

Regulation Online California Lending 28

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. The score combines the average of the bank’s percentile rank for lending concentration and for loan growth over the past year in each lending category. By Ed Avis. Methodology. AGRICULTURE.

Community Bank 172

Community Bank Community National Philadelphia 172