Abrigo

MAY 30, 2023

Final rule Effective dates & compliance dates for rule 1071 As they do with any new requirement, financial institutions want to know when the CFPB 1071 rule is effective and when they must begin collecting and reporting data on their small business lending activities. Would you like to stay up to date on CFPB 1071 implementation?

Compliance 195

Compliance Lending Data Regulation 195

Abrigo

MAY 8, 2024

Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. Another example of using predictive AI is small business lending software that incorporates AI-driven lending intelligence. Another reason for reluctance about generative AI is the highly regulated nature of banking.

Examples 221

Examples Fraud Resources Risk Management 221

PYMNTS

MARCH 5, 2019

Heightening efforts among policymakers across the globe to expand customer protections in the financial services (FinServ) space have largely left small business (SMB) banking and lending untouched. rejected the Treasury Select Committee ‘s regulations to introduce stricter small business borrower protections for the banking industry.

California 153

California Fintech Lending Regulation 153

CFPB Monitor

MARCH 30, 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes the following key provisions that affect financial institutions and regulation of financial institutions: Section 4003 – Emergency Relief and Taxpayer Provisions. Section 4011 – Temporary Lending Limit Waiver.

Regulation 122

Regulation United States Community Bank National 122

Independent Banker

DECEMBER 13, 2015

New Military Lending Act regulations kick in next fall. Following a three-year study on predatory lending, the U.S. Department of Defense has now issued the final rule to implement the Military Lending Act. Transactions not covered by Regulation Z are excluded from coverage under the rule. By Mary Thorson Wright.

Lending 70

Lending Compliance Regulation Virginia 70

CFPB Monitor

SEPTEMBER 24, 2015

The CFPB has issued a final rule that revises the definitions of “small creditor” and “rural areas” under Regulation Z of the Truth in Lending Act (TILA). The CFPB created special small creditor provisions with regard to certain Regulation Z requirements. Wendy Tran and Richard J. Andreano, Jr. less than 3.5

Operations 60

Operations Regulation Meeting Lending 60

Abrigo

FEBRUARY 8, 2022

Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. Consumers are looking for speed without the hassle of mounds of paperwork and lengthy approval processes, whether with deposit or lending accounts. Regulations & Guidance Forthcoming.

Compliance 195

Compliance Training Regulation Fraud 195

Abrigo

JULY 25, 2017

In a recent Sageworks webinar Robert Ashbaugh, senior risk management consultant at Sageworks, discusses High Volatility Commercial Real Estate (HVCRE) lending best practices. Ashbaugh’s presentation begins with a quick summary of why regulators care about HVCRE. How did we get here? What are HVCRE loans?

Risk Management 150

Risk Management Management Capital Lending 150

Gonzobanker

JULY 13, 2023

The following definitions and use cases for the application of AI are meant to help bankers push their vendors to explain their technology in layman’s terms. With their focus on consumer lending, credit unions are especially interested in this technology. and Scienaptic signed more than 80 new credit unions in the past year.

Technology 78

Technology Software social media Fraud 78

Gonzobanker

MARCH 13, 2018

As many community banks focus on growing their commercial lending businesses, many are embarking on transformation initiatives to improve their capabilities and competitiveness. But improving the user experience is rarely a goal of a lending transformation. Not surprisingly, many look to technology to support the transformation.

Lending 60

Lending Technology User Experience Data 60

CFPB Monitor

JUNE 25, 2020

On May 20, 2020, the OCC issued a final rule to “strengthen and modernize” its existing Community Reinvestment Act (“CRA”) regulations. The final rule defines a “qualifying activity” as an activity that helps meet the credit needs of a bank’s entire community, including low- and moderate income individuals (LMI) and communities.

Community 97

Community Lending Meeting Retail 97

CFPB Monitor

JUNE 15, 2020

On May 20, 2020, the OCC issued a final rule to “strengthen and modernize” its existing Community Reinvestment Act (“CRA”) regulations. of Community Development Fund Advisors. ET, Ballard Spahr will hold a webinar, “The OCC Issues Final CRA Rule – What Changed and What’s Next?” Thomas, Ph.D.,

Community 60

Community FDIC Lending Examples 60

Independent Banker

SEPTEMBER 21, 2015

Under the right circumstances, providing residential mortgages that fall outside of the new federal Qualified Mortgage definition could help a community bank grow its lending, some community bankers say. a $613 million-asset community bank serving central and northern Wisconsin that engages in non-QM lending.

Community Bank 70

Community Bank Lending Community Survey 70

Independent Banker

MARCH 15, 2015

The ICBA and community bank campaign to improve those rules has included a comprehensive study on their impact that was released before the CFPB announcement of its proposed changes, which are expected to be formally adopted. Alternatively, ICBA also urged the CFPB to expand its “small creditor” and “rural” definitions.

Washington 70

Washington Community Bank Community Survey 70

Independent Banker

FEBRUARY 24, 2015

The ICBA and community bank campaign to improve those rules has included a comprehensive study on their impact that was released before the CFPB announcement of its proposed changes, which are expected to be formally adopted. Alternatively, ICBA also urged the CFPB to expand its “small creditor” and “rural” definitions.

Washington 70

Washington Community Bank Community Survey 70

CFPB Monitor

SEPTEMBER 21, 2020

The CFPB has taken a significant step towards issuing regulations to implement Section 1071 of the Dodd-Frank Act by releasing an outline of the proposals it is considering in preparation for convening a small business review panel (Panel). Small Business” Definition. Financial Institutions Covered.

Data 125

Data Regulation Meeting Report 125

Independent Banker

OCTOBER 24, 2016

The National Credit Union Administration’s irresponsible power play earlier this year to ignore the explicit member business lending limits Congress has set for credit unions could not be ignored. percent-total-asset cap on credit union commercial lending that Congress purposefully put in place.

Community Bank 70

Community Bank Community Lending Regulation 70

CFPB Monitor

MARCH 30, 2016

As we have addressed , Congress passed the Helping Expand Lending Practices in Rural Communities Act of 2015 (HELP Act) on December 4, 2015, in efforts to expand the designation of additional areas as being “rural” under Regulation Z of TILA. More specifically, Congress struck out the word “predominantly” from TILA provisions.

Lending 60

Lending Regulation Operations Community 60

CFPB Monitor

JUNE 17, 2019

The Federal Reserve Board has issued a report, “ Perspectives from Main Street: Stakeholder Feedback on Modernizing the Community Reinvestment Act ,” that summarizes the feedback it received during a series of roundtable discussions on the current state of, and potential revisions to, the Community Reinvestment Act (CRA).

Report 60

Report Community Regulation Groups 60

CFPB Monitor

NOVEMBER 15, 2022

Supreme Court seeking review of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. invalidating the payday lending rule) was incorrect. The CFPB has filed a certiorari petition with the U.S. CFPB that held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S. Constitution.

Exercises 148

Exercises Lending Conference America 148

PYMNTS

OCTOBER 9, 2018

However, Dave Gilbert, founder and chief executive officer of SMB alternative lending firm National Funding , said he’s seen a trend of growing traction within the small business community. In its report, S&P found nearly 50 percent of SMB borrowers are too unfamiliar with digital lenders to use alternative finance.

National 167

National Regulation Capital Industry 167

Independent Banker

JANUARY 28, 2016

Supreme Court held that financial institutions could be held liable for neutral practices that pose adverse lending decisions against certain borrowers, even when there is no intent to discriminate, but with restrictive guidelines. IB: How could fair lending exams change as a result of the Supreme Court’s ruling? Thomas: Definitely.

Policies 70

Policies Lending Community Analysis 70

PYMNTS

SEPTEMBER 28, 2020

The Predatory Lending Trap. This can come with a whole host of other problems, although some regulators have taken steps to broaden the scope of borrower protections to include SMBs. When an organization is bearing an ever-increasing burden of outstanding accounts receivables, there are multiple sources of capital to which it can turn.

social media 215

social media Capital Fintech Operations 215

Abrigo

DECEMBER 16, 2019

Regulators, investors, and other stakeholders will be watching and listening for updates on the impacts of the accounting change. Ours, who is Senior Vice President and Director of Credit Administration of Summit and its 32-location bank subsidiary, Summit Community Bank Inc., Ours said Summit Community ran into that issue.

West Virginia 195

West Virginia Virginia Data Community 195

PYMNTS

APRIL 19, 2016

Short-term lending found itself with a surprise advocate in DNC chairwoman Debbie Wasserman Schultz. We heard from the group about what they are seeing in their communities, including specific heart-wrenching stories of members of their congregations whose lives have been devastated by usurious loans.

Lending 100

Lending Survey Community Guidelines 100

CFPB Monitor

DECEMBER 8, 2022

As a result, a company that controls an institution that is not a BHCA bank is not required to register as a bank holding company with the Federal Reserve Board and, therefore, is not subject to regulation and supervision by the Federal Reserve Board. 5301) (e.g.

FDIC 78

FDIC Company Industry Regulation 78

Gonzobanker

MAY 4, 2022

Every year, Cornerstone Advisors conducts a survey of community-based financial institution CEOs that asks what their top concerns are. Regulations – The practical application of regulations to specific situations at the institution requires deep “inside” knowledge. And they vary by FI.

Training 144

Training Survey System Data 144

CFPB Monitor

MAY 22, 2020

The OCC has issued a final rule revising its regulation implementing the Community Reinvestment Act (CRA). The final rule also adds a definition of “CRA desert” (underserved areas) and provides multipliers to increase the amount of CRA credit a bank receives for qualifying activities in these areas.

FDIC 78

FDIC Lending Retail Compliance 78

Independent Banker

DECEMBER 29, 2015

Community bankers offer real-world reasons for more Basel III relief. Nearly one year after the Basel III capital rules went into effect, community bankers say that now recognize just how much more complex and how much more difficult this new set of capital rules will make life and business for them if they remain in place.

Community Bank 70

Community Bank Community Capital Lending 70

Jeff For Banks

NOVEMBER 7, 2015

Me to a community banker: Why don't you offer more options than real estate secured lending to help fund early stage businesses? Banker: Because that's not community banking. I've been in this business over 20 years and still don't know the definition of community banking. In other words, be a General Bank.

Community Bank 60

Community Bank Community Baltimore Lending 60

Independent Banker

DECEMBER 28, 2015

Outsized regulation shapes the business climate and decisions. Far more than any other issue, regulatory compliance is the biggest challenge community bankers experienced in 2015, with 43 percent naming it as such in ICBA’s State of the Community Banking Industry survey. By Denise Logeland. And Center, N.D.,

North Dakota 70

North Dakota Community Bank Community Compliance 70

CFPB Monitor

AUGUST 6, 2018

Aimed at “senior executives in banking organizations,” the Bulletin is published by the FRB’s Division of Consumer and Community Affairs with the intent to provide high-level summaries of various consumer protection issues and to enhance the transparency of the Federal Reserve’s consumer compliance supervisory program.

Compliance 68

Compliance Risk Management Lending Training 68

Independent Banker

SEPTEMBER 21, 2015

imberly Anderson, senior vice president and chief administrative officer of Cañon National Bank in southern Colorado, became her community bank’s loan compliance officer in 2003. Over the next three years, Anderson enrolled in all three of Community Banker University’s in-depth compliance certification training programs. By Ed Avis.

Compliance 70

Compliance Community Bank Community Training 70

Independent Banker

OCTOBER 14, 2014

Robust online mortgage websites embrace today’s lending challenges as well as consumer needs. When Community Bank of Bergen County unveiled its online mortgage hub this summer, the bank put “ease of use” at the top of its goals for the site, says President and CEO Peter Michelotti. “I By Elizabeth Judd.

Community Bank 70

Community Bank Lending Community Oklahoma City 70

BankUnderground

AUGUST 9, 2022

While there is no set definition of the metaverse, it can be thought of as an immersive next generation of the internet, where people can interact to socialise, learn, play and work in a persistent computer-generated environment. What is the metaverse? Which vision will dominate, when and at what size, is uncertain.

System 132

System blockchain cryptocurrency Lending 132

Jeff For Banks

APRIL 25, 2014

Investment bankers will tell you the definitive answer, which is of course their opinion. will provide greater capital resources and operational scale that will allow us to grow as part of a larger community bank." - Loralee Hutchinson, President of Alarion Financial Services, Inc. What is driving deal volume? Our combination.

Community 92

Community New York Indiana Connecticut 92

South State Correspondent

JUNE 27, 2023

While this is mostly the domain of large banks, there are three reasons why your community bank should consider adopting this language to increase future bank performance. Regulatory Compliance: Many regulators and market infrastructures around the world are moving towards ISO 20022, making it a requirement for participating in those markets.

System 195

System Data Examples Payments 195