CFPB Monitor

JUNE 17, 2021

In another action demonstrating that a “new CFPB” is in place under the Biden Administration, the CFPB has issued an interpretive rule setting forth the basis for its determination that it has authority to examine institutions that it supervises for Military Loan Act (MLA) compliance.

Compliance 78

Compliance Lending Leadership Analysis 78

Abrigo

MAY 19, 2017

With the National Credit Union Administration issuing its final member business lending (MBL) ruling as of January 2017, credit unions are seeing increased flexibility in their lending limits. Who is responsible for collecting key documents, and will a system be used to track tickler documents and member compliance?

Lending 150

Lending Analysis Knowledge Base System 150

Abrigo

MAY 10, 2021

Knowing these elements of an LOS and an LOS vendor is critical for senior financial institution executives either shopping for an LOS for the first time or considering an improvement to their bank or credit union’s current business lending process. Lending process management is key to timely decisions. Workflow & Analysis.

System 195

System Lending Analysis Software 195

South State Correspondent

JULY 19, 2023

Derivative Usage An inverted yield curve makes competition challenging for banks that do not use interest rate swaps in conjunction with their lending. Some of those reasons are as follows: The standard derivative documentation is lengthy (45 to 60 pages) and cumbersome (multiple agreements written in dense legalese).

Community Bank 195

Community Bank Community Compliance Marketing 195

Independent Banker

OCTOBER 31, 2021

Offering digital lending isn’t about the bells and whistles. started developing its digital lending platform about three years ago—and the bank is really glad it did. “I’m Community bankers are increasingly recognizing that the future of digital lending is here. Illustration by Out of the box/Stocksy. By Beth Mattson-Teig.

Lending 91

Lending Community Bank Community North Dakota 91

Abrigo

MAY 19, 2023

They should be knowledgeable of both sound lending practices and their own institution’s specific lending guidelines. In addition, they should be familiar with pertinent laws and regulations affecting credit and lending activities. But what if the minimum expectations are set so high that it discourages wannabe loan reviewers?

Training 195

Training Lending Risk Management Guidelines 195

Abrigo

FEBRUARY 16, 2024

It's about ensuring that every aspect of your lending operation is optimized for efficiency and effectiveness. Customize documentation : Avoid a one-size-fits-all approach to documentation when it comes to the underwriting process. Clearly defined policies and procedures can help avoid confusion and streamline credit operations.

Training 195

Training Risk Management Analysis Policies 195

CFPB Monitor

JULY 5, 2022

In response to a request from three Democratic House members, the GAO recently issued a report on its review of fair lending oversight conducted by the Office of the Comptroller of the Currency. These changes contributed to fewer annual fair lending examinations and deficiency findings leading to matters requiring attention at smaller banks.

Lending 78

Lending Report Policies Handbook 78

South State Correspondent

JANUARY 16, 2024

The documentation was lengthy and complex, the regulatory compliance and reporting was cumbersome, the accounting was tricky, and the overhead cost of launching a hedging program was challenging. No ISDA documents. No additional reporting or regulatory compliance for the lender or the borrower.

Community Bank 195

Community Bank Community Compliance CA 195

Abrigo

NOVEMBER 9, 2020

Loan administration is a basic and yet far-reaching process of lending. However, effective loan administration solutions or systems will help lenders avoid the most common documentation- and data-related deficiencies found during examinations. Find out about upcoming free lending/credit webinars. stay informed.

System 195

System Lending Software Risk Management 195

PYMNTS

MAY 17, 2018

Regional lender in Japan, Suruga Bank , apologized this week and admitted that staff may have knowingly processed loan documents that were falsified for a struggling property investment scheme, adding to the list of corporate scandals plaguing the country, reports in Bloomberg said.

Compliance 108

Compliance Lending National Fraud 108

Abrigo

MAY 30, 2023

But compliance deadlines are tiered. 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.

Compliance 195

Compliance Lending Data Regulation 195

Gonzobanker

AUGUST 17, 2022

Lending Tech With Almost Steady Grades (Even With Rough Semesters). Mortgage services provider ICE acquired mortgage services provider Black Knight bringing together the two largest providers in the space.

Fintech 195

Fintech Lending Software Compliance 195

Abrigo

AUGUST 27, 2020

Documentation: Thorough and complete documentation is king. If you have manual monitoring processes, document them. If you have performed enhanced due diligence on a client, document it. Remember, if it is not documented it did not happen. Lending & Credit Risk. Member Business Lending.

Regulation 195

Regulation Fraud Compliance Lending 195

Abrigo

MARCH 14, 2022

Adequate loan administration software will allow an organization to access the hundreds of thousands of documents that some banks have on file. The time it takes to produce these documents is also essential to consider. On-demand reporting for exception, covenant, and document tracking. Data security.

Software 195

Software System Policies Data 195

Abrigo

SEPTEMBER 29, 2022

Essential technology for modern lending and credit departments. Construction loan software is a type of software that banks or other financial institutions use to manage their loans and keep track of all documents and transactions. Instead, they are a specific program for lending institutions and their needs. CRE Lending.

Software 195

Software Lending Management Strategy 195

Abrigo

DECEMBER 30, 2019

Institutions must create a strong culture of compliance. Creating a Culture of Compliance. One of the more important takeaways from 2019 is that all institutions, regardless of size or risk profile, must have a strong culture of compliance, as directed by FinCEN’s advisory in 2014. Looking back to strengthen your BSA program.

Training 195

Training Compliance Leadership Fraud 195

PYMNTS

AUGUST 14, 2018

Changes may soon be coming to the Military Lending Act (MLA), a piece of legislation designed to prevent military service members from getting swept up in deceptive or unfair lending practices. The product causing concern on the auto lending side of things is gap insurance. New Lending Rules .

Lending 100

Lending Regulation Kentucky Utah 100

Abrigo

OCTOBER 14, 2022

Financial institutions wondering at what percent to stress test their real estate portfolios can use the Fed’s DFAST scenario document as a guide for creating boundaries based on where the different agencies think the market is headed. The proposed policy document includes an appendix with loan modification examples broken out by loan types.

Risk Management 195

Risk Management Management Policies Lending 195

CFPB Monitor

AUGUST 6, 2018

On July 26, 2018, the Federal Reserve Board (“ FRB “) announced the launch of the “Consumer Compliance Supervision Bulletin” (the “ Bulletin “) and simultaneously published its first issue. Mortgage Target Pricing.

Compliance 68

Compliance Risk Management Lending Training 68

Abrigo

DECEMBER 2, 2021

In a competitive lending environment, many banks and credit unions are concerned about losing good-quality loans if they over-price them. It's "business as usual" as far as expectations for compliance staff to remain alert for illicit financial activity. Lending & Credit Risk. Consumer Lending. Streamline loan review.

Conference 195

Conference San Antonio Lending Fraud 195

Abrigo

FEBRUARY 23, 2023

In such an environment, community banks should focus on the power of their relationships with customers, according to Kent Kirby, a retired banker with 39 years of experience in all aspects of commercial banking; lending, loan review, back-room operations, portfolio management, portfolio analytics, and credit policy.

Community Bank 195

Community Bank Kansas City Community Lending 195

Abrigo

JANUARY 24, 2021

The updated SBA Form 3508S , intended by lawmakers to be used by most PPP borrowers of $150,000 or less for first or second draw loans, doesn’t require borrowers to show calculations or submit documentation like the other forms (SBA Form 3508EZ and SBA Form 3508, which were also updated). CRE Lending. Lending & Credit Risk.

Lending 195

Lending Risk Management Management Payments 195

Abrigo

MAY 18, 2023

Some additional factors to evaluate include: Reasonableness of assumptions Creditworthiness of guarantors or sponsors Sufficiency of credit and collateral documentation Proper lien perfection Proper approvals consistent with internal policies Adherence to loan agreement covenants Adequacy of and compliance with internal policies and procedures, such (..)

Lending 195

Lending Training Guidelines Policies 195

Gonzobanker

SEPTEMBER 21, 2023

Core connectivity and API providers CFM and NXTsoft merged, acquiring document workflow provider IMM and rebranding as Kinective. Alogent acquired document imaging and tracking solution provider AccuSystems. Numerated , a business lending origination platform, partnered with Finastra for a LaserPro integration.

Fintech 103

Fintech Software Illinois Lending 103

Independent Banker

SEPTEMBER 25, 2014

This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. As David Barr, spokesperson for the FDIC, points out, “a vast majority of community banks remain well-rated and exhibit satisfactory corporate governance programs and compliance management systems.”.

Compliance 101

Compliance Regulation Community Bank Community 101

Abrigo

MARCH 2, 2023

Perhaps executives think delaying or cutting spending on technology to make lending more efficient will affect only their staff. A buyer’s guide for lending software for smaller financial institutions can be helpful. Can the lender maintain control of the relationship throughout the lending process?

Technology 195

Technology Lending Community Software 195

CFPB Monitor

JANUARY 13, 2021

” The Statement is intended to provide “compliance principles and guidelines to inform and assist financial institutions in their decision making related to serving LEP consumers.”. The second section of the Statement contains “guidelines for developing compliance solutions when serving LEP consumers.” Translated documents.

Guidelines 78

Guidelines Compliance Lending System 78

Abrigo

DECEMBER 7, 2021

Takeaway 1 Documentation is one of the most critical aspects of performing a risk assessment. Document the BSA/AML risk assessment. Documentation is one of the more critical aspects of performing a risk assessment. Without supporting documents, the analysis of the institution's risk cannot be adequately supported.

How To 195

How To Fraud Analysis Compliance 195

Independent Banker

SEPTEMBER 21, 2015

Greater uncertainty wins as the Supreme Court upholds statistical evidence in fair lending claims. Supreme Court, it is, and the high court’s recent ruling to that effect is likely to affect community banks, their regulatory examinations and their potential exposure to fair lending lawsuits. lending compliance.

Lending 70

Lending Community Bank Policies Community 70

Abrigo

NOVEMBER 15, 2019

Key Takeaways Effective credit risk review promotes lending agility. Effective credit risk review promotes lending agility. However, many community financial institutions derive a significant portion of income from lending. Furthermore, lending is a major source of risk for most banks and credit unions.

System 150

System Lending Compliance Risk Management 150

CFPB Monitor

DECEMBER 13, 2021

The report discusses the Bureau’s examinations in the areas of credit card account management, debt collection, deposits, fair lending, mortgage servicing, payday lending, prepaid accounts, and remittances that were completed between January 2021 and June 2021. Fair lending. Payday lending. Prepaid accounts.

Lending 78

Lending Cards Regulation Payments 78

CFPB Monitor

MARCH 28, 2022

Clyburn sought information from the nation’s largest lenders on their PPP lending policies and compliance efforts, including Anti-Money Laundering (“AML”) and know-your-customer (“KYC”) policies. Any compliance failures could lead to sanctions under the Bank Secrecy Act or, if systemic, potential liability under the False Claims Act.

Fraud 146

Fraud Compliance Lending Policies 146

PYMNTS

DECEMBER 9, 2020

Developing a quick, seamless and secure onboarding process for financial institutions (FIs), lending startups and other financial services providers has long posed its trials. The process involves capturing a user’s live photo to compare alongside an official document, such as an Aadhaar card, which bears a unique, 12-digit ID number.

Video 175

Video Capital Lending Security 175

PYMNTS

DECEMBER 11, 2019

When it comes to lending — to say nothing of the wider world of payments — innovation and disruption have been on the rise in recent years thanks to digital and mobile technology, along with online marketplace models. So-called peer-to-peer (P2P) lending has certainly faced challenges in certain markets. More Focus on P2P Lending.

Fintech 144

Fintech Lending Regional Regulation 144