PYMNTS

OCTOBER 1, 2019

When the economy crashed in 2008, and fully bottomed out in June 2009 credit across the board froze. While other forms of credit were showing signs of returned in 2014, SMB lending still trailed its 2007 peak by 17 percent. The good news is that the bad news wasn’t worse news — the economy recovered, albeit unevenly and slowly.

Data 135

Data Lending Capital Regulation 135

PYMNTS

DECEMBER 7, 2017

The state of California’s insurance regulator is aiming to suspend or revoke the insurance licenses from Wells Fargo due to illicit sales practices with an online referral program. ” According to the report, the regulator said the unauthorized sales happened from 2008 through 2016. “We The OCC gave the bank until Nov.

California 108

California CA Regulation Policies 108

PYMNTS

APRIL 21, 2016

The alternative finance industry boomed post-2008 financial crisis as banks retreated from small business lending. Marketplace lenders emerged to fill the gap, and analysts began to ponder a paradigm shift: Could alternative lending threaten traditional financial institutions’ place in the world? Alt-Lenders On The Defense.

Lending 100

Lending Industry Regulation Groups 100

CFPB Monitor

JANUARY 21, 2021

The CFPB recently filed a complaint in the United States District Court for the District of Connecticut alleging violations of various federal consumer protection laws by 1 st Alliance Lending, LLC (1 st Alliance), a former mortgage lender. The complaint also names several principals of 1 st Alliance as defendants.

Connecticut 78

Connecticut Lending United States Regulation 78

PYMNTS

APRIL 12, 2017

Regulation A+ has made a mostly quiet splash on the market. Years in the making, the regulation was born from the JOBS Act, which was signed into law in 2012, with Title IV of the act — also known as Regulation A+ — enabling average joes to invest in companies seeking capital.

Regulation 102

Regulation Lending social media Operations 102

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. There is a silver lining, however, if financial institutions are willing to recognize it.

Compliance 116

Compliance Data Regulation Analytics 116

PYMNTS

NOVEMBER 23, 2017

The end result is that companies outside China will be able to, eventually, control Chinese securities and asset management firms, insurance companies (through joint venture majority stakes) and banks. Now, total exposure to China, through lending, stands at $1.89 trillion, the FT reported, which compares to the previous record of $1.84

Marketing 128

Marketing Lending Security Regulation 128

Jeff For Banks

JUNE 2, 2023

The old borrow short, lend long strategy. Second, this can be accomplished only if the industry does not have too much influence over its regulators and if the regulators have the ability to hire, train, and retain qualified staff. Third, the regulators need adequate financial resources.

FDIC 78

FDIC Community Bank Regulation Lending 78

BankBazaar

APRIL 19, 2023

The SVB collapse marked the largest bank failure in 2008 financial. This can in turn cause a chain reaction of bank failures as other banks are forced to pay out depositors who have moved their funds to more secure institutions, leading to a broader financial crisis. What have the regulators done? Why did US banks collapse?

US 78

US United States FDIC Regulation 78

Bank Innovation

FEBRUARY 1, 2019

The 25% plunge -- the worst since July 2008 -- capped a tumultuous three days that shaved about €7.2 Wirecard AG fell the most in more than a decade on Friday after a report that a law firm found evidence of alleged forgery, the latest fraud allegations to beset the digital payments company. billion ($8.3 […].

Fraud 150

Fraud Report Payments Company 150

PYMNTS

APRIL 2, 2020

Mostly, they noted, what is happening is using the infrastructure of underwriting to create a reasonably secure pathway for SMBs with anti-money laundering/know your customer (AML/KYC) protection pre-built in. “If has ever seen or offered. And that, he noted, will cause some delays. Not yet,” Edwards noted.

Regulation 248

Regulation Lending Fraud US 248

PopularBank

MARCH 25, 2021

After the 2008 Financial Crisis, interbank lending and borrowing began to decline as banks looked for other means to obtain financing. For dollar-denominated loans, the Security Overnight Financing Rate (SOFR) is likely to serve as the new replacement index for USD LIBOR rates. Why is LIBOR being phased out?

Lending 59

Lending Groups Regulation US 59

PYMNTS

NOVEMBER 16, 2017

Consider the fact that the big players in Western banking, which had built up holdings in Chinese financial firms, had to sell their stakes in the aftermath of the 2008 financial crisis. At the same time, the lending environment is marked by bad loans. In one sense, there’d be a rebuilding going on.

Marketing 101

Marketing Capital Lending Course 101

PYMNTS

OCTOBER 1, 2018

Both the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) have officially ended a two-year investigation of LendingClub, its subsidiary LC Advisors (LCA), its founder and former CEO Renaud Laplanche and its former CFO Carrie Dolan. On Friday (Sept. Attorney Alex Tse. “We The Response.

Lending 135

Lending Fraud Management San Francisco 135

BankUnderground

JUNE 25, 2020

Broadly, the Bank of England receives two main types of quantitative data from regulated firms. Second, and separately, regulators also have access to more granular data on specific types of financial agreements and transactions. Central banking is also becoming more data intensive. 15 of this report ).

Data 108

Data Big Data Regulation Risk Management 108

Independent Banker

DECEMBER 29, 2015

Since then, community banks have been struggling to understand all of the regulation’s various complex “moving parts” and how to best comply with it, says James Kendrick, vice president for accounting and capital policy at ICBA. ICBA also is pressing regulators to use their oversight discretion to exempt community banks without legislation.

Community Bank 70

Community Bank Community Capital Lending 70

Lex Sokolin

DECEMBER 25, 2019

Ethereum’s decentralized lending and trading are floating around 2,500 daily users. The lending product above is a bit more complicated. Other things like Compound are essentially a securities lending marketplace?—?you well, we know what 2008 looks like. something between equity voting and dividend yield).

blockchain 52

blockchain Bitcoin Software Lending 52

PYMNTS

SEPTEMBER 18, 2017

has strongly hinted that the agency she birthed in 2008 and opened for business in 2011 — the Consumer Financial Protection Bureau (CFPB) — should be given the authority to do even more. We don’t need more regulation. After all, The Big Three were regulated by the CFPB and the FTC, and look where that got us.

Report 202

Report Regulation Data Retail 202

Lex Sokolin

JANUARY 14, 2021

But regardless of all that, $1 trillion of value has indeed materialized and grown on blockchain-based financial networks since 2008. American financial regulation is an alphabet soup, and has grown out of politics and crises. Targeting banks and money services businesses allows for jurisdiction and regulation of the choke points (i.e.,

America 52

America Wyoming National Capital 52

Lex Sokolin

JANUARY 14, 2021

But regardless of all that, $1 trillion of value has indeed materialized and grown on blockchain-based financial networks since 2008. American financial regulation is an alphabet soup, and has grown out of politics and crises. Targeting banks and money services businesses allows for jurisdiction and regulation of the choke points (i.e.,

America 52

America Wyoming National Capital 52

TrustBank

DECEMBER 8, 2022

By the 1990’s, improvements in technology and further changes to securities regulations made it easier for corporate customers to access financial markets directly. Adding to the observation is the fact that from roughly 2001-2006, a devastating housing price bubble formed due to lax lending standards.

US 52

US Policies Taxes Washington 52

Abrigo

MARCH 13, 2023

Historic collapse SVB is different from other financial institutions The FDIC closure and assumption of Silicon Valley Bank (SVB) – the largest bank failure since 2008 – is a stark reminder that when a crisis occurs, it can spread as fast as a wildfire in dry fields with a strong wind. Do you get that from your deposit analysis ?

Strategy 195

Strategy Lending Security Analysis 195

CB Insights

DECEMBER 4, 2019

Through trial and error, the company has set up key financial pillars across payments, cash deposits, and lending. Although Bill Me Later was quickly scooped up by PayPal in 2008, Amazon has remained focused on reducing payment friction for customers. Amazon Lending. Amazon SMB Lending. Amazon’s Next Financial Pillar.

Cards 101

Cards Lending Strategy US 101

CFPB Monitor

MAY 20, 2016

Instead, this “one data point” only secured the class six months of credit monitoring and free credit reports (the Fair Credit Reporting Act already provides that consumers may obtain a free credit report each year). The study was also criticized for only covering a small time frame—from 2008 to 2012.

Study 68

Study Data Industry Capital 68

Jeff For Banks

JANUARY 27, 2011

This line of thinking requires the person promoting it to believe that community financial institutions (FIs) somehow got away from this concept, and by doing so their profits plummeted during the financial collapse of 2008. They mostly meant sub-prime residential mortgage lending. I would contend that this statement is true.

Community Bank 71

Community Bank Community Apple National 71

PYMNTS

JULY 10, 2018

’s Open Banking regulation made waves in the financial services market, and those effects have been felt far beyond the U.K.’s Today, Australian FIs are facing increased pressure from regulators, especially when it comes to small business banking and lending. ’s — and even Europe’s — borders.

Fintech 106

Fintech Regulation Innovation Data 106

CB Insights

FEBRUARY 13, 2020

These APIs handle everything from acceptance and processing to settlement and reconciliation, while ensuring compliance and security. Business lending and corporate cards. Most recently, Stripe has launched a Corporate Card and a Lending product geared towards small businesses. Fraud prevention tools. Virtual card issuance.

Online 98

Online Company Retail Payments 98

Abrigo

APRIL 7, 2022

Perhaps the most significant practical impact of SCALE is that by introducing it, regulators have clarified that financial institutions have the space to bring in external information like peer information for their computational estimates. It can be challenging to model forecasts for institutions with small lending footprints.

Policies 195

Policies Data Examples Lending 195

Abrigo

DECEMBER 19, 2019

Due to new and emerging technologies, changing regulations, and ever-evolving customer expectations, banks and credit unions across the country are taking an assortment of different strategies to achieve their growth goals in 2020. In 2008, there were 7,061 FDIC-insured commercial banks in the U.S. Lending & Credit Risk.

Lending 195

Lending Fraud Community FDIC 195

Perficient

MAY 17, 2022

In today’s mixed up, muddled up, shook up world, a business model that encourages — and even desires — some level of repossession can provide substantial profits to the lender (depending on state regulations). In 2008, when the housing bubble burst, homeowners lost the houses they could no longer afford. It’s not pretty.

Strategy 294

Strategy Customer Experience Study Technology 294

Lex Sokolin

SEPTEMBER 30, 2020

Do we live in a world where it is good that regulators are able to punish malfeasance? Whether or not it, i.e., the regulation and its enforcement, works is a separate question. Although this did happen to Auction Rate Securities in 2008! Remember, CSDs are where securities actually sit in the traditional capital markets.

blockchain 52

blockchain Regulation Capital Marketing 52

PYMNTS

OCTOBER 11, 2016

Treasury Committee Chairman Andrew Tyrie is urging the FCA to “get on with publication as soon as possible” and is calling on the government regulator to commit to a publication date. million) business loan from RBS in 2008. ” U.K. million ($1.6 Mentally, they are just hitting you all the time.”

Meeting 100

Meeting Report Taxes Payments 100

CB Insights

NOVEMBER 6, 2018

In terms of scaling its digital assistant, Google CEO Sundar Pichai has said that the company is working with “every major device brand” in the US to cover a wide range of products and industries, from dishwashers to security systems. YouTube has recently taken a more active role in regulating influencers on its platform. Partnerships.

Google 72

Google Apple Industry Branding 72

CB Insights

DECEMBER 7, 2017

Banks have receded from mortgage lending for a host of reasons, principally because the cost of complying with strict regulation from the Consumer Financial Protection Bureau on loan qualification and capital requirements has made the business more expensive. This helped navigate fragmented regional regulations.

Millennials 69

Millennials Lending United States Technology 69

CB Insights

MAY 23, 2019

Zenefits skirts compliance regulations. After a comprehensive investigation by the Securities and Exchange Commission, Holmes was banned from the laboratory testing industry for two years and was ultimately charged with wire fraud by the Department of Justice in summer 2018. Zenefits skirts compliance regulations. The Outcome.

Fraud 78

Fraud Las Vegas Company Video 78

PYMNTS

FEBRUARY 1, 2017

The largest anxiety critics of the alternative lending space have today is a lack of regulation. Without investor protection and without regulation on the cost of financing, small and medium-sized businesses, those critics say, may be left in a tighter cash bind than they were before.

Regulation 100

Regulation Lending Industry Fraud 100

Gonzobanker

DECEMBER 19, 2022

As if that wasn’t enough, regulators took a sledgehammer to debit fee income with Reg II changes that will begin reducing card-not-present interchange fees starting in July 2023. 2008 called and wants its headlines back. SoFI gets a commercial bank that brings deposits, compliance, AND business lending. Goes to Sen.

Community 216

Community Fintech Industry Innovation 216