CFPB Monitor

JULY 6, 2016

In its Summer 2016 Supervisory Highlights , which covers supervision work generally completed between January and April 2016, the CFPB highlights violations found by its examiners involving automobile origination, debt collection, mortgage origination, small-dollar lending, and fair lending. Small-dollar lending.

Lending 68

Lending Regulation Compliance System 68

Abrigo

NOVEMBER 18, 2016

In a survey of community banks and credit unions at the 2016 Sageworks Risk Management Summit, 42 percent of respondents said Commercial Real Estate, or CRE, lending was their primary focus for loan portfolio growth. For many, commercial real estate lending may be the ticket. This reflects a larger industry trend.

Community Bank 150

Community Bank Handbook Lending Risk Management 150

CFPB Monitor

MARCH 16, 2021

Under the leadership of Acting CFPB Director Dave Uejio, the Bureau issued an interpretive rule on March 9, 2021 clarifying that the prohibition against sex discrimination under the Equal Credit Opportunity Act (“ECOA”) and Regulation B includes sexual orientation and gender identity discrimination.

Regulation 78

Regulation District of Columbia Georgia Policies 78

CFPB Monitor

NOVEMBER 7, 2016

In its Fall 2016 Supervisory Highlights , which covers supervision work generally completed between May and August 2016, the CFPB highlights violations found by its examiners involving origination and servicing of auto financing, debt collection, mortgage origination and servicing, student loan servicing, and fair lending.

Lending 83

Lending Report Regulation Policies 83

ZootBlog

JUNE 8, 2016

In July 2015, the Department of Defense (DoD) passed major changes to the Military Lending Act (MLA) with target compliance dates of October 3, 2015 and October 3, 2017. The MLA’s overall goal is to prevent predatory lending against U.S. If not already planning, starting now can avoid a rush to the October 3, 2016 deadline.

Lending 60

Lending Regulation Taxes Security 60

American Banker

SEPTEMBER 27, 2023

based Washington Trust over race-based lending discrimination and redlining in the state, saying the bank denied lending services to Black and Hispanic neighborhoods from 2016 to 2021. The Department of Justice reached a $9 million settlement Wednesday with Westerly, R.I.-based

Rhode Island 68

Rhode Island Washington Lending Compliance 68

CFPB Monitor

OCTOBER 6, 2016

On September 30, the CFPB released updated examination procedures for Military Lending Act (MLA) compliance. Compliance with the final rule amending the MLA, issued by the Department of Defense (DoD) in July 2015, was required for creditors of most consumer credit products as of this past Monday, October 3.

Compliance 99

Compliance Lending Policies Training 99

Bank Innovation

MARCH 10, 2016

Is there a way to prevent regulators from derailing a bank’s fintech initiatives? Jill Castilla, president and CEO of Citizens Bank of Edmond, located in Edmond, Okla., says there is.

Regulation 150

Regulation Fintech Community Strategy 150

Abrigo

JULY 7, 2021

Key points in this article include: Risks exist in states where canabis is illegal > LEARN MORE Ensuring compliance when not servicing CRBs > LEARN MORE Determine your tier of acceptance > LEARN MORE Banking hemp vs. marijuana vs. CBD > LEARN MORE The gray area of banking CBD > LEARN MORE.

Compliance 195

Compliance Operations Regulation United States 195

Bank Innovation

SEPTEMBER 14, 2017

banking regulator, the Office of the Comptroller of the Currency, is still in the “exploratory” phase with its new fintech charters. The office’s fintech charters were introduced in 2016, and sparked controversy within financial […].

Fintech 170

Fintech New York Conference Regulation 170

CFPB Monitor

OCTOBER 20, 2016

On October 17, the FDIC released revised interagency Military Lending Act (MLA) examination procedures for use in connection with consumer credit transactions occurring on or after October 3, 2016. The FDIC also provided guidance on its initial supervisory expectations for examinations relating to MLA compliance.

FDIC 60

FDIC Compliance Training Lending 60

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 CFPB recently published a fact sheet for small creditors operating in rural or underserved areas.

Resources 60

Resources Compliance Regulation Lending 60

PYMNTS

JUNE 24, 2016

Online lending . When the regulators come marching in, getting out of the way is usually a better idea. And that, says the industry, is bad news, as costs of compliance with stricter regulation could be coming at exactly the moment these firms can’t take on any new costs. . A pretty clear-cut sizzle. Costco Card.

Lending 101

Lending Online South Dakota North Dakota 101

PYMNTS

OCTOBER 1, 2018

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. The build-back from the revelations of 2016 was a bit more of a lengthy process.

Lending 135

Lending Fraud Management San Francisco 135

CFPB Monitor

JULY 27, 2016

On June 29, 2016, BancorpSouth Bank announced a proposed settlement and consent order with the CFPB and the U.S. Under the consent order, the Bank agreed to engage a third-party compliance management system consultant to assist in the review and revision of its fair lending management system. ”

Memphis 60

Memphis Policies Lending Compliance 60

Independent Banker

JULY 28, 2016

Establishing a comprehensive Compliance Management System. Does it sound like “reality compliance”? The demands of managing regulatory compliance are uncontested, and depending on the disposition of the participants inside and outside of the bank, compliance management exists with varying degrees of problems and adversity.

Compliance 70

Compliance Training Community Bank Regulation 70

Gonzobanker

OCTOBER 24, 2018

Name the rule, reg or newly formed regulator, and the common bond is that they were all born out of bankers not policing their own industry. If bankers still feel a “family” affinity to Wells, let’s look at a timeline since 2016 well documented by Yahoo! Dodd-Frank. Admittedly, it is a way to keep the branch staff busy.)

San Francisco 150

San Francisco Industry America Compliance 150

CFPB Monitor

APRIL 18, 2019

In May 2018, the CFPB issued an RFI and white paper on small business lending. In November 2016, the CFPB issued an RFI on consumer access to financial information. Several of these topics have been the subject of CFPB requests for information.

Policies 68

Policies Analysis Compliance Lending 68

CFPB Monitor

MARCH 12, 2019

Several Democratic members also criticized the Bureau’s continued employment of Eric Blankenstein as Policy Associate Director of the Bureau’s Office of Supervision, Enforcement, and Fair Lending. Mr. Blankenstein is alleged to have made racially offensive comments in 2016. As she did during her House appearance, Ms.

Lending 68

Lending Analysis Compliance Policies 68

CFPB Monitor

JULY 30, 2020

In particular, the Bureau seeks to explore “cutting-edge issues” at the intersection of fair lending and innovation and develop “viable solutions” to regulatory compliance challenges financial institutions face in complying with ECOA and Regulation B. How to facilitate greater usage of special purpose credit programs.

Regulation 78

Regulation Lending Industry Innovation 78

CFPB Monitor

OCTOBER 17, 2018

The Payday Rule’s compliance date is August 19, 2019. In the preamble, the CFPB states that it expects to issue a NRPM “by no later than early 2019 that will address reconsideration of the rule on the merits as well as address changes to its compliance date.”. Business Lending Data. HMDA/Regulation C.

Regulation 68

Regulation Compliance Lending Cards 68

Jeff For Banks

NOVEMBER 9, 2018

According to an appropriately snarky Gonzo Banker post by Scott Hodgins, Wells' blunders are epic: September 2016 - Disclosed that they created two million bogus accounts without customer consent to hit the bank's "eight is great" cross-sell targets. September 2016 - Wrongfully repossessed service members' cars.

New Jersey 60

New Jersey Compliance Community Meeting 60

Independent Banker

DECEMBER 28, 2015

Outsized regulation shapes the business climate and decisions. Far more than any other issue, regulatory compliance is the biggest challenge community bankers experienced in 2015, with 43 percent naming it as such in ICBA’s State of the Community Banking Industry survey. By Denise Logeland. Don Murray, Commerce Bank of temecula valley.

North Dakota 70

North Dakota Community Bank Community Compliance 70

CFPB Monitor

SEPTEMBER 11, 2018

a small-dollar lender, regarding the Bureau’s allegations that Triton had violated the Truth in Lending Act and the CFPA’s UDAAP prohibition by underdisclosing the finance charge on auto title pledges entered into with consumers.). Payday/title lending. Small business lending.

Lending 68

Lending Policies Compliance Cards 68

Independent Banker

FEBRUARY 24, 2016

Regulators warn once again about rising CRE concentrations and risks. A whopping 95 percent of ICBA members are active commercial real estate (CRE) lenders, according to the latest ICBA Community Bank Lending Survey. He adds that regulators and bank management need to act to prevent those risks from becoming reality. “We

Community Bank 70

Community Bank Lending Community Regulation 70

Independent Banker

JANUARY 28, 2016

Anticipating safety and soundness exam issues in 2016. As in past years, community bankers will have a dynamic regulatory environment to contend with in 2016. IB: What safety and soundness issues are the regulators watching out for this year? What should community banks anticipate here?

Community Bank 70

Community Bank Community Regulation Lending 70

Independent Banker

JULY 29, 2016

The Compliance Institute, which is six days of classroom instruction, leads to the Certified Community Bank Compliance Officer certification. It teaches bankers how to develop a compliance program, meet lending compliance requirements, and comply with deposit and marketing regulations. Compliance Institute.

Minneapolis 70

Minneapolis Community Bank Community San Antonio 70

Independent Banker

DECEMBER 28, 2015

The Office of the Comptroller of the Currency published its supervisory priority objectives for midsize and community banks for 2016. New and fast-growing lending portfolios that could create risk concentrations are targets for particular scrutiny. Compliance issues. By Tim Cook.

Community Bank 70

Community Bank Compliance Community Lending 70

William Mills

SEPTEMBER 9, 2016

William Mills Agency will be live blogging at Finovate Fall 2016. I believe SEC regulations require a company to go public if they have more than 500 shareholders. Addresses compliance, fraud experience and customer experience analytics. International lending platform – Create opportunities for Investors.

social media 40

social media ATM Mobile Customer Experience 40

Independent Banker

OCTOBER 31, 2021

February 2016. Regulators implement ICBA-supported three-year transition. So, in 2016, the Financial Accounting Standards Board (FASB) introduced the current expected credit loss (CECL) standard, which adds a forward-looking component to accelerate the recognition of losses. “The ICBA petitions FASB to withdraw CECL.

Community Bank 91

Community Bank Community Software New York City 91

PYMNTS

JUNE 27, 2017

So we also added a new focus: applying document and artificial intelligence/machine learning to develop enterprise-class solutions for identity verification in digital channels that meet the market need for a great user experience, risk mitigation and regulatory compliance. billion in 2016, according to Javelin.

Innovation 145

Innovation System Mobile Trends 145

PYMNTS

FEBRUARY 5, 2018

Wells can still lend and take deposits. In reference to corporate governance, Wells has two months to boost board oversight and compliance efforts. The move is unprecedented, as the Fed has never before placed limits on how large a company can get. The analysts, several as of Monday, are bullish no more. “We

Compliance 100

Compliance Lending Report Capital 100

Independent Banker

SEPTEMBER 22, 2015

Avoiding potential lending hazards from regulatory flood-insurance requirements. In June, five federal agencies (including FDIC, Office of the Comptroller of the Currency and the Federal Reserve) announced approval of a final rule that modifies regulations applying to loans secured by properties located in special flood hazard areas.

Regulation 70

Regulation Policies Community Bank Taxes 70

Jeff For Banks

DECEMBER 16, 2022

Since 2016, over 50% of total deposits are non-interest bearing, driving superior cost of funds and net interest margin. and Puerto Rico banking laws and regulations. million loss in 2016, just outside the window the JFB Top 5 looks back to determine if it's a turnaround that drove total return. Well done! #3 Virgin Islands.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

CFPB Monitor

SEPTEMBER 8, 2016

The Department of Defense (DoD) has issued an interpretive rule to assist the industry in complying with its July 2015 final rule amending the Military Lending Act’s implementing regulation. On September 20, 2016, from 12 p.m. ” More information about the webinar and the registration form is available here. .”

Compliance 60

Compliance FDIC Security Regulation 60

PYMNTS

FEBRUARY 28, 2018

That includes anti-money laundering (AML) compliance, know your customer (KYC), fraud mitigation, marketing, privacy, document review, Office of Foreign Assets Control (OFAC) compliance, reporting and more. Jewel Paymentech extended one of its existing products, One Sentry Marketplace, in 2016 to help address these issues.

blockchain 100

blockchain System cryptocurrency Regional 100

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. A McKinsey report in 2016 estimated that the flow of data across borders contributed $2.8

Data 108

Data Big Data Regulation Risk Management 108