Banking Exchange

NOVEMBER 16, 2022

Fair lending compliance is a critical risk area for banks today, with scrutiny from government regulators only intensifying Compliance Feature Human Resources Technology Feature3 Core Systems Compliance Management Compliance/Regulatory Mortgage Credit Mortgage Mortgage Compliance Mortgage/CRE.

Compliance 78

Compliance Resources Lending Regulation 78

Abrigo

OCTOBER 19, 2023

Also, we love all of the resources and discussion boards on their website.” On the loan origination side, Abrigo’s Sageworks Lending product was lauded for its ease of use. “We have been using the Sageworks Lending software for over three years,” said one reviewer. “It

Software 221

Software Lending Resources Community 221

Abrigo

MAY 24, 2024

Takeaway 2 It's important to review resources on how to prepare for FedNow and also look internally to create a plan for your unique financial institution. Stay informed The Federal Reserve and various industry groups offer numerous educational resources on the FedNow Service. Customize your FedNow plans Customization is key.

How To 243

How To Fraud Resources Georgia 243

Abrigo

FEBRUARY 14, 2023

Takeaway 2 The rule is aimed at tracking small business credits to enforce fair lending laws and ID and support women- and minority-owned small businesses. Abrigo will add functionality to our commercial loan origination system to support upcoming compliance requirements once the final decisions have been made on the CFPB side.

Data 195

Data Lending Compliance Resources 195

PYMNTS

APRIL 8, 2020

As the nation’s traditional financial institutions struggle to cope, alternative lending platforms and other B2B FinTechs are exploring how to put their own technologies to good use. With a focus on compliance, Wolters Kluwer revealed its new solution to enable financial institutions issue PPP loans to small businesses.

Lending 245

Lending Fintech America Technology 245

Perficient

FEBRUARY 29, 2024

Banking institutions are responding by integrating advanced technologies, particularly artificial intelligence and data analytics, into their lending operations to enhance efficiency and adaptability. Facilitation of embedded lending while ensuring compliance: Embedded finance initiatives must adhere to regulatory requirements.

Trends 221

Trends Industry Analytics Compliance 221

Abrigo

MAY 19, 2023

Takeaway 2 Examining the following objectives and evaluating your loan review system based on them can ensure regulatory compliance. Takeaway 3 Consider how much your bank or credit union's resources can support while meeting regulatory expectations.

System 195

System Regulation How To Lending 195

Independent Banker

JANUARY 31, 2022

“There is a lot of time and energy spent, not only making sure that credit decisions are appropriate, but also managing the compliance aspect,” Maher says. Although the surge in PPP lending highlighted a need for loans among underserved borrowers, it also has led to some creative solutions.

Lending 150

Lending Community Community Bank Compliance 150

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. You might also like this resource: "Building a strong future: Succession planning strategies for you AML program." FinCEN assessed a $1.5

Training 221

Training Compliance Fraud Policies 221

Abrigo

SEPTEMBER 7, 2023

Adapt to a dynamic banking environment with real-time lending & credit data Lender dashboards and reports showing the lending pipeline, pricing trends, emerging risks, workflow bottlenecks, etc. Ironically, data for making lending and credit decisions for the financial institution can also be one of the toughest assets to harness.

Report 195

Report Lending Trends Data 195

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. You might also like this resource: "Building a strong future: Succession planning strategies for you AML program." FinCEN assessed a $1.5

Training 195

Training Compliance Fraud Policies 195

Abrigo

MAY 8, 2024

Read resources provided here to see what they're saying. This piece explains: Generative AI and how it differs from AI in general What’s behind the genAI hype and the concerns Real-world use cases of generative AI at financial institutions and Available resources for financial institutions to learn more about generative AI in banking.

Examples 221

Examples Fraud Resources Risk Management 221

Abrigo

DECEMBER 5, 2023

You might also like this resource: "Building a strong future: Succession planning strategies for you AML program." A BSA Officer must be well-versed in these areas to ensure the institution's full compliance and avoid regulatory criticism. This includes training staff on BSA/AML policies and fostering a culture of compliance.

Training 221

Training Compliance Regulation Software 221

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

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

PYMNTS

MARCH 27, 2019

While regulators had transparency and financial security in mind when introducing more stringent requirements for banks following the global financial crisis, financial institutions faced a sudden surge in the burden compliance. The Key To Compliance Is Data.

Compliance 116

Compliance Data Regulation Analytics 116

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech in banking and finance. What is regtech?

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech for banks to enhance their processes. What is regtech?

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

MAY 19, 2023

Part of the reason for the lack of training may be the absence of any formal loan reviewer training resources, so why don’t we start thinking about what a loan review curriculum might look like? They should be knowledgeable of both sound lending practices and their own institution’s specific lending guidelines.

Training 195

Training Lending Risk Management Guidelines 195

Abrigo

APRIL 12, 2021

What an LOS Is, and How It Benefits CFIs A loan origination system automates and manages the lending process to address common challenges. Takeaway 1 The lending landscape is increasingly competitive and the process is frustrating. Compliance. You might also like this report on commercial loan automation systems DOWNLOAD.

System 338

System Lending Software Analysis 338

Abrigo

JUNE 12, 2023

You might also like this webinar, " AML Compliance and Sanctions Requirements for Non-Bank Financial Institutions. Streamlined compliance : Compliance with varying state regulations significantly burdens money transmitters. Compliance and reporting : Mandate implementing robust AML and CTF programs by money transmitters.

Compliance 195

Compliance Fraud Regulation Guidelines 195

Abrigo

SEPTEMBER 14, 2022

Financial institutions, fintech companies, and other small business lenders will need to begin collecting a wide array of small business lending data under the Consumer Financial Protection Board’s (CFPB) proposed small business lending data collection rule. The proposed rule , unveiled Sept. Controversial Provisions.

Lending 195

Lending Data Regulation Community 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

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 18, 2023

Takeaway 3 Use these tools to consider how much their resources can support while meeting regulatory expectations. Loan officers should examine their processes’ scope and depth and consider how much their resources can support while meeting regulatory expectations. Scope and depth Why use scope and depth to discuss loan review?

Lending 195

Lending Training Guidelines Policies 195

CFPB Monitor

NOVEMBER 22, 2021

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.

Conference 78

Conference Lending Industry Regulation 78

Abrigo

JUNE 23, 2023

Finding the time and resources to sort through data can be a challenge depending on the size of your institution. Stay up to date on the CFPB 1071 data collection rule and other lending compliance topics. We can help you navigate small business lending amid changing regulatory requirements.

Data 195

Data Lending System Management 195

Abrigo

NOVEMBER 1, 2021

Takeaway 1 BSA and fraud functions have historically been siloed, and IT has been external to compliance. Takeaway 3 Cyberattacks are also on the rise, lending even more importance to communication and collaboration among the BSA, fraud, and IT functions. Watch this webinar for resources and info on pros/cons. Watch Webinar.

Fraud 195

Fraud Video Training Compliance 195

Abrigo

APRIL 21, 2023

Focus loan reviews on risk in the portfolio Continuous loan review monitoring helps banks and credit unions ensure credit review systems support safe and sound lending. discussed how they use continuous monitoring in their efforts to ensure safe and sound lending practices.

Lending 195

Lending Risk Management Software System 195

Abrigo

APRIL 8, 2020

Provide a BSA refresher course to your lending staff. BSA compliance remains crucial to protecting financial system. Key Takeaways BSA requirements still apply to Paycheck Protection Program loans. While these loans are 100% guaranteed by the SBA, fraud is still a concern.

Compliance 195

Compliance Lending Fraud Community 195

CFPB Monitor

JUNE 14, 2021

Two leaders of the CFPB’s Fair Lending Office – Patrick Ficklin, Fair Lending Director, and Charles Nier, Senior Fair Lending Counsel – recently published an article advocating for broader use of special purpose credit programs (“SPCPs”) by creditors.

Lending 78

Lending Regulation Study Washington 78

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

Abrigo

DECEMBER 22, 2023

Now that it’s implemented, it’s crucial to ensure ongoing compliance and efficient management of the allowance for credit losses (ACL). If you’d like to know about the latest resources as they are released, sign up for the portfolio risk email newsletter.

Risk Management 221

Risk Management Regulation Management Lending 221

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

CFPB Monitor

MAY 3, 2016

As we have reported , the CFPB issued a final rule, which became effective on January 1, 2016, revising the definitions of “small creditor” and “rural areas” under Regulation Z of the Truth in Lending Act (TILA). The factsheet and chart can be found under “Quick references” on the CFPB Compliance & Guidance page, at this link.

Resources 60

Resources Compliance Regulation Lending 60

CFPB Monitor

DECEMBER 4, 2015

The CFPB released the Home Mortgage Disclosure (Regulation C) Small Entity Compliance Guide on December 1, 2015. The Compliance Guide along with other resources, such as the HMDA Executive Summary, Summary of reportable data, HMDA institutional coverage charts, and other related resources can be found here. Andreano, Jr.

Compliance 60

Compliance Resources Regulation Data 60

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