CFPB Monitor

NOVEMBER 21, 2019

The OCC and FDIC issued proposed rules this week intended to eliminate the uncertainty created by the Second Circuit’s decision in Madden v. Comments on the FDIC’s proposal must be submitted no later than 60 days after the date the proposal is published in the Federal Register. Midland Funding. 85 [or 12 U.S.C

FDIC 78

FDIC National Lending Policies 78

Abrigo

NOVEMBER 24, 2015

Add FDIC Chairman Martin J. The FDIC said that the percentage of loans and securities with maturities of three or more years hit the highest percentage in the 18 years of data records, rising to 34.6 Community banks have grown their share of longer-term assets even more quickly than the rest of the industry, according to the FDIC.

FDIC 150

FDIC Lending Community Bank Industry 150

CFPB Monitor

MAY 18, 2022

After moving alone in 2020 to reform its Community Reinvestment Act (CRA) regulation, the Office of the Comptroller of the Currency (OCC) has joined the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve Board in issuing a joint notice of proposed rulemaking setting forth proposed amendments to their regulations implementing the CRA.

FDIC 78

FDIC Regulation Community Lending 78

Perficient

JULY 12, 2023

Often an organization will have a state-charted non-member bank, which has the FDIC as its primary federal regulator. The same organization will typically have a national bank charter, and the OCC is the primary federal banking regulator for that part of the organization.

Management 221

Management Risk Management Regulation Compliance 221

CFPB Monitor

MAY 22, 2020

The final rule applies to national banks and federal savings associations. Although the OCC’s proposed revisions were issued jointly with the FDIC, the FDIC did not join in the final rule. The OCC has issued a final rule revising its regulation implementing the Community Reinvestment Act (CRA).

FDIC 78

FDIC Lending Retail Compliance 78

PYMNTS

NOVEMBER 23, 2017

New York Venture Bank, a new financial institution (FI) created by big names in the financial services industry, has applied for a national bank charter. FDIC), the news report noted the new bank will begin with $100 million in capital. According to a Wednesday (Nov. Citing documents filed with the Federal Deposit Insurance Corp.

New York 100

New York National FDIC Lending 100

CFPB Monitor

JUNE 29, 2020

The FDIC has issued its widely anticipated final rule resolving the uncertainty caused by the Second Circuit’s Madden v. The FDIC’s Notice of Proposed Rulemaking (“NPR”) was published the same week as an OCC proposed rule intended to address the same issue for national banks under Section 85. Midland Funding decision.

FDIC 60

FDIC National Analysis Regulation 60

CFPB Monitor

AUGUST 13, 2018

McWilliams stated that the FDIC’s top priorities included: (1) reducing regulatory burden on community banks; (2) increasing the speed with which the FDIC reviews charter and deposit insurance applications; and (3) assisting banks to introduce new financial products that serve underserved communities.

FDIC 68

FDIC Community Lending Guidelines 68

CFPB Monitor

FEBRUARY 20, 2020

The OCC and FDIC announced yesterday that they have extended the 60-day comment period for their joint proposal to revise their regulations implementing the Community Reinvestment Act that was published in the Federal Register on January 8, 2020. As extended by 30 days, the comment period ends on April 8, 2020.

FDIC 78

FDIC Community California National 78

PYMNTS

MARCH 30, 2020

National bank regulators — The Federal Reserve, Federal Deposit Insurance Corp. trillion stimulus package passed last week included an allowance for banks to put off compliance with the credit losses accounting standard until either the end of the year or the end of the coronavirus national emergency, whichever comes earlier.

Report 166

Report US FDIC National 166

South State Correspondent

AUGUST 21, 2022

Meet Competitive Pressures: National and larger regional banks are specifically targeting better borrowers for seven, ten, or 20-year fixed-rate loans. Lending Discipline: Hedging programs make loan pricing more transparent and force bankers to exercise sensible pricing methodologies.

How To 195

How To Community Bank Community FDIC 195

CFPB Monitor

FEBRUARY 7, 2024

Several national and Texas banking and business trade groups have filed a lawsuit in the U.S.

Texas 78

Texas Community Groups FDIC 78

CFPB Monitor

JUNE 8, 2023

The agencies are the Comptroller of the Currency (OCC), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board (Board) and National Credit Union Administration (NCUA). Comments on the proposed guidance will be due 60 days after publication in the Federal Register.

FDIC 78

FDIC National Groups Lending 78

PYMNTS

SEPTEMBER 30, 2020

The House committee held a hearing on the idea after Acting Comptroller of the Currency Brian Brooks in July proposed a new special purpose national banking charter for payments companies. FDIC), the states and the courts. However, the banking industry doesn’t like that one bit. “We

Regulation 349

Regulation National System Industry 349

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. Our thoughts.

FDIC 78

FDIC Regulation Community Retail 78

CFPB Monitor

JUNE 1, 2020

In that decision, the Second Circuit held that a nonbank that purchased charged-off loans from a national bank could not charge the same rate of interest on the loan that Section 85 of the National Bank Act allowed the national bank to charge. Midland Funding. 85] [12 U.S.C 85] [12 U.S.C

FDIC 78

FDIC National Lending Analysis 78

PYMNTS

DECEMBER 10, 2018

And as reported by sites such as American Banker and National Law Review , a bipartisan group of senators is working on a bill that may reform the Bank Secrecy Act, which in turn may raise the threshold for reporting currency transaction reports to $30,000, from the current levels of $10,000. This would be the first boost in 25 years.

Regulation 172

Regulation Fintech FDIC National 172

PYMNTS

OCTOBER 24, 2019

But Federal Deposit Insurance Corporation (FDIC) coverage — which protects deposits — proved a sticking point this week. 21) that the OCC cannot in fact issue a charter for non-bank enterprises (a segment that included FinTechs) that are not able to get FDIC backing. Can’t get the charter without FDIC coverage.

Fintech 101

Fintech FDIC New York National 101

CFPB Monitor

AUGUST 20, 2020

FFIEC : On June 5, 2020, the members of the FFIEC (FDIC, OCC, Federal Reserve Board (“FRB”), CFPB, NCUA and the State Liaison Committee) issued an unprecedented statement on the importance of financial inclusion. This blog post contains a summary of those efforts.

Regulation 78

Regulation FDIC Community Lending 78

CFPB Monitor

APRIL 13, 2022

These concerns are often dismissed by consumer advocates with the argument that banks and credit unions will increase their small-dollar lending if other providers leave the market due to interest rate caps. Among the services examined by the GAO in the report is small-dollar lending.

Report 78

Report Lending FDIC Regulation 78

PYMNTS

AUGUST 16, 2019

“The nation’s two largest metropolitan areas are home to a majority of our commercial lending and banking clients,” said Greg Garrabrants, president and CEO of Axos, in a statement. and offer clients FDIC-insured accounts. The bank announced Thursday (Aug.

Los Angeles 101

Los Angeles New York FDIC Lending 101

Independent Banker

JULY 31, 2022

Featured offerings include commercial banking, commercial real estate lending for both owner-occupied and investment, SBA lending, and deposit and business treasury services. Costello has also held senior roles at Bank of Florida, City National Bank and Nations Bank during his 30-year banking career. Filling a need.

Florida 91

Florida Community Bank Community FDIC 91

PYMNTS

JULY 15, 2019

Analysts note that today, the percentage of professionals working in the agricultural sector remains so low that including them in national jobs calculations would not have a statistically relevant effect on overall analysis. “As percent: the growth rate of FDIC-insured bank loans to farm borrowers as of March 2019.

FDIC 142

FDIC Analysis Lending Data 142

PYMNTS

MAY 24, 2018

In 2013, the OCC had discouraged short-term lending by banks with limitations on what could be offered to customers depending on their credit. Regulatory uncertainty forced banks out of this space, leaving families to rely on pawn shops, costly payday lenders or loosely regulated online lending during times of financial stress.

FDIC 100

FDIC Lending Regulation Study 100

CFPB Monitor

SEPTEMBER 10, 2020

Because CCBank is a state-chartered FDIC-insured bank located in Utah, Section 27(a) of the Federal Deposit Insurance Act authorizes CCBank to charge interest on its loans, including loans to California residents, at a rate allowed by Utah law regardless of any California law imposing a lower interest rate limit.

Utah 78

Utah California FDIC West Virginia 78

CFPB Monitor

JULY 22, 2020

Less than two months after issuing its final “ Madden fix” rule , the OCC has now issued a proposed rule to address when a national bank or federal savings association should be considered the “true lender” in the context of a third party relationship. 2) Funds the loan.

National 78

National Lending Exercises FDIC 78

CFPB Monitor

JANUARY 19, 2022

federal district court in December 2020 seeking to block the OCC from granting a national bank charter to Figure Technologies Inc. The lawsuit represented the CSBS’s third challenge to the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies or to uninsured deposit-taking fintechs.

Technology 78

Technology National FDIC Fintech 78

Abrigo

MAY 5, 2022

Sometimes 20 minutes, sometimes 50 minutes, this podcast digs into such topics as creating branch experiences that go hand-in-hand with digital ones, identifying risk, and consumer lending. Lending & Credit Risk. Lending & Credit Risk. keep me informed. Whitepaper. Asset Liability Modeling. Asset/Liability. CECL Models.

Community 195

Community Lending Maine Resources 195

PYMNTS

JANUARY 9, 2018

With big banks pulling back from small and medium-sized business (SMB) lending in the wake of the global financial crisis, the market was ripe for someone else to fill the credit gap. Community banks approved 49 percent of SMB loan applications in November, according to the latest data from the Biz2Credit Small Business Lending Index.

Community Bank 131

Community Bank Community Fintech Lending 131

Jeff For Banks

MAY 20, 2017

Today, I read an American Banker article on how a multi-billion dollar bank is going to ramp up its business lending. To remind readers, in 2006 the OCC, Federal Reserve, and FDIC issued joint interagency Guidance on Concentrations in Commercial Real Estate Lending. They need a marketing person to title their reports.

Lending 60

Lending Regulation Community Community Bank 60

Abrigo

SEPTEMBER 16, 2019

Dunkleberg is the former dean of Temple’s School of Business and Management and has served as the Chief Economist for the National Federation of Independent Business since 1971. The survey for the inaugural index included 512 FDIC banks responding from early in the second quarter through July 5. Asset/Liability. Credit Risk.

Community Bank 150

Community Bank Community Policies Survey 150

CFPB Monitor

JUNE 12, 2020

Marlette Funding, LLC et al , arises from an enforcement action filed in 2017 by Colorado’s UCCC Administrator challenging a bank-model lending program involving a New Jersey state-chartered bank. Section 27, which applies to state banks, is patterned after Section 85 of the National Bank Act, which applies to national banks.

Colorado 78

Colorado FDIC Analysis National 78

PYMNTS

APRIL 24, 2019

Of course, those more than beat the national average on checking accounts, which is currently at a 0.08 In addition, Wealthfront works with FDIC-insured partner banks — including East West Bank , New York Community Bank and others — to hold customers’ deposits. In addition, Ally Bank and Barclays have high-yield offerings that earn 2.2

FDIC 108

FDIC New York Community Bank Course 108

CFPB Monitor

SEPTEMBER 9, 2020

Ballard Spahr LLP has submitted a comment letter to the OCC in support of its proposed rule , “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”). Three virtually identical Federal Interest Statutes govern interest that may be charged by Banks: Section 85 of the National Bank Act (“NBA”), 12 U.S.C. §

FDIC 78

FDIC National South Dakota Lending 78

CFPB Monitor

OCTOBER 6, 2022

Thus, there was no doubt in Jones that [a national bank] was the actual lender and that [the national bank] qualified for an exemption from the usury restrictions. Unless it settles, it creates a risk to the viability of bank model online lending that is structured like OppFi’s Program.

California 78

California FDIC Analysis Utah 78

Jeff For Banks

JUNE 4, 2018

"The FDIC recently has observed instances of liquidity stress at a small number of insured banks." So opened the Summer 2017 FDIC Supervisory Insights issue. The national average rate for a money market account at the end of last year was 0.09%. And so went your exams. What would you do? Prepare for that.

FDIC 60

FDIC System Regulation Conference 60

PYMNTS

FEBRUARY 19, 2019

The remarks were made at a conference, focusing on the issue of “financial deserts,” involving the struggle for rural communities to feel the benefits of overall national economic strength and a declining unemployment rate. making it one of the nation’s first new community banks in years.

Marketing 108

Marketing Community Community Bank Industry 108