CFPB Monitor

NOVEMBER 10, 2016

The Federal Financial Institutions Examination Council (FFIEC), whose members include the CFPB, has finalized guidance setting forth a revised uniform interagency consumer compliance rating system (CCRS). The revisions reflect changes in consumer compliance supervision since the current rating system was adopted in 1980.

Compliance 120

Compliance System Regulation FDIC 120

CFPB Monitor

DECEMBER 19, 2019

The OCC and FDIC have issued a joint proposal to revise their regulations implementing the Community Reinvestment Act (CRA). Although the Federal Reserve, OCC and FDIC, are the primary CRA regulators, the Fed did not join the proposal and presumably will issue a separate proposal. ” Click here to register.

FDIC 78

FDIC Regulation Community Retail 78

Insights on Business

MARCH 5, 2019

Reducing costs but appeasing regulators seems like an oxymoron, yet, many AML compliance and operations leaders are being asked to do just that. The question is, how to do this, while keeping the regulators happy? Even better, regulators have recently begun encouraging the application of these techniques.

Regulation 70

Regulation Compliance Analysis Innovation 70

CFPB Monitor

NOVEMBER 2, 2020

The CFPB, OCC, Federal Reserve, FDIC, and NCUA have issued a proposed rule on the role of supervisory guidance. The proposed rule would codify the Statement, with clarifying changes, as an appendix to a new subpart added to the regulations of each agency.

FDIC 78

FDIC Regulation Compliance Risk Management 78

Abrigo

AUGUST 8, 2021

Independent Loan Review Systems in Banking Banking regulators have outlined expectations for effective, independent loan review and credit risk review. . The change reflects regulators’ expectations that financial institutions will develop loan review or credit review systems tailored to their specific risks and circumstances.

System 195

System Lending Policies Regulation 195

CFPB Monitor

NOVEMBER 29, 2021

The 2022 clarity promised by the “roadmap” presumably will supersede, once issued, Interpretive Letter #1179, which appears to function as a general stop-gap until the 2022 publications hopefully provide more detail regarding exactly how banks can attain compliance. Federal banking regulators have been busy in this space.

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

CFPB Monitor

AUGUST 31, 2021

The OCC, FDIC, and Federal Reserve Board have issued a guide that is intended to assist community banks in conducting due diligence when considering relationships with financial technology (fintech) companies (Guide). Banks are instructed to reference relevant guidance from the agencies that is listed in a footnote.

Community Bank 78

Community Bank Community Fintech Company 78

Gonzobanker

FEBRUARY 1, 2024

For the bankers we talked with, acknowledging challenges—think NIM, credit, regulation, election uncertainty, unemployment and CRE—while portraying resilience created quite a few compelling narratives throughout the event. Five Hundred? (Oh

Conference 88

Conference FDIC Arizona Industry 88

CFPB Monitor

APRIL 22, 2021

The agencies are the Comptroller of the Currency, Farm Credit Administration, FDIC, Federal Reserve Board, and National Credit Union Administration (Agencies). Recently, federal agencies proposed revisions to the Interagency Questions and Answers Regarding Flood Insurance. However, please see the following bullet point.

Policies 60

Policies Compliance Meeting Regulation 60

Independent Banker

SEPTEMBER 25, 2014

Saving money by conducting inside risk management and compliance reviews. As a group, community banks spend substantial funds hiring outside consultants to help with various management functions, and a substantial share of dollars are spent to help oversee their risk management and compliance activities. By Vanessa Drucker.

Community Bank 70

Community Bank Compliance Risk Management Community 70

CFPB Monitor

MARCH 15, 2022

The complaint references the California Attorney General’s failed attempt to invalidate the FDIC’s Madden -fix rule which is codified at 12 C.F.R. Given such continuing threats, non-bank participants would be well-advised to revisit their vulnerability to “true lender” challenges and their compliance with state licensing laws.

California 78

California Innovation Utah West Virginia 78

CFPB Monitor

OCTOBER 17, 2022

ED also stated that it “will monitor compliance and take corrective action to enforce these regulations when necessary.”. In the letter, ED referenced the CFPB report and stated that it is “aware of certain practices that may pose risks or excessive costs to students….We

Cards 78

Cards Report Regulation FDIC 78

CFPB Monitor

NOVEMBER 12, 2018

The Interagency Statement was issued jointly by the Fed, FDIC, NCUA, OCC and CFPB with the stated purpose of “explain[ing] the role of supervisory guidance and to describe the agencies’ approach to supervisory guidance.”. Section 1818(b)(1) but would not include a generic or conclusory reference to “safety and soundness.”

Groups 60

Groups FDIC Regulation Policies 60

CFPB Monitor

MAY 19, 2016

” The other agencies are the OCC, Fed, FDIC, and NCUA. The guidance refers to a discrepancy that results in a customer being credited with less than the full amount deposited as “a detriment to the customer” that “benefits the financial institution, if not appropriately reconciled.” Culhane, Jr.

Policies 60

Policies Regulation FDIC Compliance 60

CFPB Monitor

SEPTEMBER 9, 2020

1831d(a) (“Section 27(a)”), which governs the interest charges of state-chartered FDIC-insured banks. 93a, the OCC is generally “authorized to prescribe rules and regulations to carry out the responsibilities of the office.” We urge the FDIC to propose and adopt a true lender rule that mirrors the OCC’s Proposed Rule.

FDIC 78

FDIC National South Dakota Lending 78

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. 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.

Community 60

Community FDIC Lending Examples 60

Jeff For Banks

DECEMBER 16, 2022

As a reference, the best SIFI bank in five-year total return this year was JPMorgan Chase at 82nd overall. As a point of reference, the S&P US BMI Bank Total Return Index for the five years ended December 9, 2022 was -1.21%. and Puerto Rico banking laws and regulations. Not so over the eleven years I have been keeping track.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

CFPB Monitor

MAY 22, 2020

The Federal Reserve, OCC, FDIC, and NCUA have issued “ Interagency Lending Principles for Offering Responsible Small-Dollar Loans.” Effective management of credit, operational, compliance, and other risks. Federal law (12 U.S.C. Section 85) governs the interest national banks may charge.

FDIC 78

FDIC Policies Lending Guidelines 78

CFPB Monitor

JANUARY 26, 2021

The CFPB , OCC , FDIC and NCUA have issued substantially similar final rules on the role of supervisory guidance. The final rules codify the Statement, with clarifying changes, as an appendix to a new subpart added to the regulations of each agency. The final rules adopt the agencies’ proposals without substantive change.

Compliance 78

Compliance FDIC Regulation Examples 78

CFPB Monitor

MAY 7, 2020

The Bureau states that “neither ECOA nor Regulation B mandate the use of any particular list of reasons. No-Action Letter Policy) to address potential compliance issues. In 2019, in addition to the Bureau’s three referrals to the DOJ, the FDIC referred two matters and the Federal Reserve and the NCUA each referred one matter.

Lending 78

Lending Report FDIC Policies 78

CFPB Monitor

NOVEMBER 22, 2022

In particular, the report’s recommendations deserve attention because they are likely to influence future actions by the federal banking regulators and the CFPB. (The The report is also worthwhile reading for its discussion of the role of fintechs and other non-banks in providing consumer financial services and how that role has evolved.).

Fintech 78

Fintech Report Data Lending 78

CFPB Monitor

JULY 6, 2020

These actions could include, but are not limited to, updated compliance aids, policy statements, or other guidance.”. The CFPB recently proposed amendments to Regulation Z pursuant to this directive. Qualified Mortgage Definition under the Truth in Lending Act (Regulation Z). On July 14, 2020, from 12:00 p.m.

Regulation 78

Regulation Policies FDIC Lending 78

CFPB Monitor

OCTOBER 13, 2020

Supporters point out the Proposed Rule would result in strong and consistent supervision of bank-fintech partnerships across the country, ensuring fairness and compliance with applicable laws, and note the Proposed Rule would keep the costs of credit down and encourage innovation.

Lending 60

Lending Colorado FDIC National 60