CFPB Monitor

SEPTEMBER 30, 2022

Populus contrasts the narrower missions and authority of the Federal Reserve, FDIC, and OCC, which are also self-funded. With regard to the Federal Reserve and FDIC, Populus distinguishes their multimember, bi-partisan leadership structure. On May 9, 2022, a Fifth Circuit panel heard oral argument in the CFSA lawsuit. .

Groups 78

Groups FDIC Texas Leadership 78

Abrigo

AUGUST 7, 2023

Model risk management guidance ( FRB SR 11-7 , OCC Bulletin 2011-12 , FDIC FIL-22-2017 ) outlines that the guiding principle for validation is an effective challenge to the model design, implementation, and use. Review CECL model documentation for compliance with guidelines provided by model risk management.

Risk Management 195

Risk Management Handbook Analysis Management 195

CFPB Monitor

SEPTEMBER 10, 2020

The DBO indicated that it “is investigating whether LoanMart’s role in the arrangement is so extensive as to require compliance with California’s lending laws. Thus, both the OCC and FDIC have adopted regulations rejecting the Second Circuit’s Madden decision. The FDIC has not yet proposed a similar rule.

Utah 78

Utah California FDIC West Virginia 78

CFPB Monitor

DECEMBER 16, 2020

The CFPB should rescind the July 2020 rule that rescinded the underwriting provisions in its 2017 rule on Payday, Vehicle Title, and Certain High-Cost Installment Loans (2017 Payday Rule) and reinstate the 2017 Payday Rule. The CFPB should promptly implement Dodd-Frank Section 1071 small business data collection requirements.

Policies 78

Policies Regulation Lending FDIC 78

Abrigo

NOVEMBER 9, 2022

The Q1 2023 compliance date is near for smaller SEC-reporting financial institutions and private or not-for-profit banks and credit unions, and progress is decidedly mixed, according to the Abrigo 2022 CECL Survey. What are their biggest challenges with the current expected credit loss model?

Survey 195

Survey Software Resources Meeting 195

CFPB Monitor

OCTOBER 22, 2020

” It also requires the Bureau to consult with the Fed, OCC, FDIC, and FTC to ensure, to the extent appropriate, that any rule implementing Section 1033 imposes substantively similar requirements on covered persons, takes into account conditions under which covered persons do business both in the U.S.

Data 78

Data FDIC Digital Banking Compliance 78

CFPB Monitor

AUGUST 8, 2019

The Bureau issued its first (and so far only) no-action letter in September 2017 to Upstart Network Inc. The Bureau issued its first (and so far only) no-action letter in September 2017 to Upstart Network Inc. In its blog post, the CFPB shares results provided by Upstart of simulations and analyses it conducted pursuant to that plan.

Data 60

Data Lending Compliance Policies 60

CFPB Monitor

JUNE 15, 2020

The OCC acted alone in issuing the final CRA rule without waiting to achieve consensus with the FDIC, the agency with which the OCC had jointly issued the proposed rule. Until the compliance date is reached, banks must continue to comply with parts 25 and 195 of the OCC’s regulations (12 C.F.R.

Community 60

Community FDIC Lending Examples 60

Jeff For Banks

DECEMBER 16, 2022

I also filtered for anomalies such as recent merger announcements as a seller, turnaround situations (losses suffered from 2017 forward), mutual-to-stock conversions, stock dividends/splits without price adjustments, and penny stocks. Prior to starting CCBX and for the year ended 2017, the Company had $806 million in total assets and $5.4

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

CFPB Monitor

JULY 6, 2020

These actions could include, but are not limited to, updated compliance aids, policy statements, or other guidance.”. In September 2018, the CFPB, together with the Federal Reserve, FDIC, NCUA, and OCC, issued an Interagency Statement Clarifying the Role of Supervisory Guidance. Role of Supervisory Guidance. Artificial Intelligence.

Regulation 78

Regulation Policies FDIC Lending 78

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 DOJ Finding.

Lending 135

Lending Fraud Management San Francisco 135

PYMNTS

SEPTEMBER 21, 2020

And as reported by the International Consortium of Investigative Journalists (ICIJ), which was working in tandem with BuzzFeed and 108 media partners across nearly 90 countries, the suspicious activity totaled more than $2 trillion in transactions as measured between 1999 and 2017.

Fraud 347

Fraud Report System FDIC 347

FICO

JANUARY 9, 2017

Last fall, I suspect that most regulatory compliance professionals in the U.S. consumer lending market anticipated 2017 would be more of the same. While I won’t ever be mistaken for Nostradamus, amidst this regulatory sea change, I feel (relatively) confident in sharing with you my top regulatory compliance predictions for 2017.

Regulation 40

Regulation Lending New York Leadership 40

FICO

DECEMBER 19, 2018

This month, a group of federal agencies including the Federal Reserve, OCC, FDIC and the Financial Crimes Enforcement Network (FinCEN) issued a joint statement which encourages banks to consider, evaluate, and responsibly implement innovative solutions to BSA/AML compliance.

Policies 40

Policies District of Columbia Regulation California 40