CFPB Monitor

JULY 15, 2021

The Federal Reserve, FDIC, and OCC have released proposed guidance for banking organizations on managing risks associated with third-party relationships, including relationships with financial technology-focused entities such as bank/fintech sponsorship arrangements. Due diligence and third-party selection. Contract negotiation.

Risk Management 78

Risk Management Management FDIC Compliance 78

Bank Innovation

NOVEMBER 22, 2016

This past quarter saw the lowest number of enforcement actions against financial institutions since 2013 (though there were some prominent cases in the media spotlight that may have led observers to think otherwise.) New Haven, Conn.-based

Compliance 150

Compliance Management Company Operations 150

Abrigo

AUGUST 8, 2021

This article is substantially updated from a 2013 blog post. An effective independent loan review system has always been critical for managing a financial institution’s credit risk and accurately estimating the allowance for loan and lease losses, or ALLL. It also monitors compliance with applicable regulations and laws.

System 195

System Lending Policies Regulation 195

CFPB Monitor

JANUARY 19, 2015

In October 2013, six federal agencies proposed joint diversity standards for public comment. Despite the fact that the FDIC and OCC had taken measures to promote diversity as directed by Dodd-Frank, both reports concluded that more could be done. Final standards could be issued in the near future.

FDIC 60

FDIC Report Policies Regulation 60

CFPB Monitor

AUGUST 8, 2019

The letter was conditioned on Upstart’s agreement to a model risk management and compliance plan that required it to analyze and address risks to consumers, and assess the real-world impact of alternative data and machine learning. The Bureau issued its first (and so far only) no-action letter in September 2017 to Upstart Network Inc.

Data 60

Data Lending Compliance Policies 60

CFPB Monitor

JUNE 11, 2015

The other agencies were the OCC, Fed, FDIC, NCUA and SEC. While the final standards generally track the standards proposed by the agencies in October 2013, they provide some clarifying language in response to public comments. For a more detailed discussion of the final standards, see our legal alert.

Regulation 60

Regulation FDIC Policies Compliance 60

Jeff For Banks

MARCH 29, 2014

It is annual report season, meaning publicly traded financial institutions are finalizing their 2013 numbers and submitting their 10k''s to the Securities and Exchange Commission (SEC). The Bank also offers wealth management and trust services. In preparation for meetings, I frequently read 10k''s.

Strategy 101

Strategy Texas San Antonio Fort Worth 101