CFPB Monitor

DECEMBER 20, 2018

The FDIC has issued an Advance Notice of Proposed Rulemaking (ANPR) seeking comment on its regulatory approach to brokered deposits and interest rate restrictions. The FDIC’s current regulations on brokered deposits and interest rate restrictions are set forth at 12 C.F.R. Section 337.6.

FDIC 60

FDIC Regulation Capital Analysis 60

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

PYMNTS

OCTOBER 1, 2019

John Cryan, former Deutsche Bank boss, warned in 2017 that up to half of the 97,000-strong workforce of the bank could go. Federal Deposit Insurance Corporation (FDIC) data, however, shows that the industry’s overall headcount has shrunk only 16 times as of 1935. In separate news, U.S.

Technology 217

Technology FDIC US Big Data 217

BankInovation

JUNE 3, 2021

households are unbanked, according to the most recent data from the FDIC, and 1.7 billion adults lack a bank account of any kind, according to global estimates from 2017. Approximately 7.1 million U.S. While some major U.S. banks have plans to serve the unbanked, including the $2.9 trillion JPMorgan Chase, $1.96

FDIC 98

FDIC Data Lending 98

PYMNTS

FEBRUARY 19, 2020

The research filtered data from the Federal Deposit Insurance Corporation (FDIC). shrank by more than 1,700 in the 12 months that ended in June 2017, the biggest decline on record. lost bank branches between 2012 and 2017, with rural areas feeling the brunt of the closures. The number of branches in the U.S.

New York 167

New York North Carolina US New York City 167

PYMNTS

DECEMBER 11, 2020

Revolut first added bitcoin, ether and litecoin in 2017. The FinTech partnered with Metropolitan Commercial Bank for FDIC backing of deposits up to $250,000. “As Blockchain-based EOS enables the development, hosting and execution of decentralized applications (dApps). It aims to improve speed, scalability and flexibility for dApps.

cryptocurrency 214

cryptocurrency blockchain FDIC Bitcoin 214

Abrigo

AUGUST 3, 2017

The FDIC paper The Entry, Performance, and Risk Profile of De Novo Banks published in April 2016 reports that the number of de novo bank failures and acquisitions annually has drastically declined since 2010, primarily due to the fact that new bank formations have become nearly inexistent. Some of these changes include: 1.

Oklahoma City 150

Oklahoma City FDIC Handbook Oklahoma 150

MyBankTracker

AUGUST 6, 2020

2017 63.66%. 2017 36.48%. 2017 20.63% 30.80%. 2017 20.63% 30.80%. 2017 10.37% 38.92%. Sources: FDIC. 2017 FDIC National Survey of Unbanked and Underbanked Households. Year Percentages. 2016 66.07%. 2018 61.92%. 2019 70.23%. Year Percentages. 2016 35.21%. 2018 38.94%. 2019 45.56. Methodology.

Survey 52

Survey FDIC United States Study 52

PYMNTS

DECEMBER 11, 2020

Revolut first added bitcoin, ether and litecoin in 2017. The FinTech partnered with Metropolitan Commercial Bank for FDIC backing of deposits up to $250,000. “As Blockchain-based EOS enables the development, hosting and execution of decentralized applications (dApps). It aims to improve speed, scalability and flexibility for dApps.

cryptocurrency 150

cryptocurrency blockchain FDIC Bitcoin 150

PYMNTS

OCTOBER 1, 2019

John Cryan, former Deutsche Bank boss, warned in 2017 that up to half of the 97,000-strong workforce of the bank could go. Federal Deposit Insurance Corporation (FDIC) data, however, shows that the industry’s overall headcount has shrunk only 16 times as of 1935. In separate news, U.S.

Report 100

Report FDIC US Big Data 100

PYMNTS

JUNE 25, 2019

.” The publication noted that FinTech firms collaborating with Cross River are able to take advantage of the community bank’s Federal Deposit Insurance Corp (FDIC) membership, using the FI to connect with traditional financial and banking infrastructures without having to go through the process of securing their own FDIC licenses.

Community Bank 116

Community Bank Community Digital Banking FDIC 116

American Banker

DECEMBER 16, 2020

million to address allegations that lax oversight contributed to the 2017 collapse of Washington Federal Bank for Savings. Bansley & Kiener, without admitting wrongdoing, agreed to pay $2.5

Chicago 37

Chicago FDIC Washington 37

Independent Banker

JUNE 30, 2022

In 2017, Academy Bank was searching for additional product lines that would help it to grow its deposits. “We According to Kientz, if an HOA has an FDIC-insured bank account of more than $250,000, it often takes multiple banks to manage the funds—but Academy Bank can handle accounts of that size on its own. Solving pain points.

Kansas City 91

Kansas City Kansas FDIC Community Bank 91

PYMNTS

AUGUST 12, 2019

Founded by Lamine Zarrad and George Kurtyka in 2017, Joust aims to help independent professionals find more financial stability and avoid late payments amid the irregular payment system for freelance work. The bank combines an FDIC-insured account and a merchant account and accepts a variety of payments.

Payments 143

Payments FDIC User Experience Apple 143

PYMNTS

MAY 24, 2018

The rules were rescinded in 2017, leading to this guidance. Households in 2017 ” issued in May, the CBA said the Fed found that about 40 percent of adults would not be able to pay an unexpected $400 expense without borrowing funds or selling a personal item.

FDIC 100

FDIC Lending Regulation Study 100

PYMNTS

JANUARY 24, 2019

.” The company pointed to analysis from the FDIC , whose 2018 Small Business Lending Survey found that only a few banks in the U.S. In 2017, the company announced a partnership with Citizens Bank that similarly enables Citizens’ small business clients to apply for funding online.

California 122

California Lending FDIC Online 122

PYMNTS

JULY 25, 2018

In May of 2017, Financial Times reported that data released by the Federal Deposit Insurance Corporation (FDIC) showed the first sequential drop in outstanding car loans at commercial banks in at least six years. The move on the part of Cabot Square Capital comes at a time when big banks have been pulling back from the $1.2

Capital 108

Capital FDIC Resources National 108

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

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. And so went your exams. I recently wrote that I thought bankers would have to prepare to offer rates more in line with the market. The Fed Funds Rate was 1.25%-1.50%.

FDIC 60

FDIC System Regulation Conference 60

PYMNTS

MAY 23, 2019

million raise in the fall of 2017, which was led by Eniac, and it also raised $7 million in venture debt from Silicon Valley Bank. However, it is combined with an FDIC-backed checking account called Zero Checking. Other investors include Nyca Partners, SignalFire, Eniac Ventures and others. Zero announced an $8.5

Cards 135

Cards Millennials FDIC ATM 135

Celent Banking

JUNE 22, 2017

Source: FDIC, Celent analysis. In a May 2017 survey of Celent’s Branch Transformation Research Panel, we found that a significant majority of smaller institutions (those with assets less than $10 billion) are planning to increase the number of operational branches over the next two years – just the opposite among larger banks.

Study 125

Study Community Bank Trends Analysis 125

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.

Risk Management 195

Risk Management Handbook Analysis Management 195

PYMNTS

NOVEMBER 12, 2020

FDIC) study found that the number of unbanked U.S. percent in 2017 to 34 percent in 2019,” the Tracker states. A recent Federal Deposit Insurance Corp. consumers will likely start rising again as a result of the pandemic recession. Keeping these consumers engaged in the broader financial system is essential to the collective good.

Mobile 202

Mobile Study Tools FDIC 202

CFPB Monitor

NOVEMBER 17, 2020

The Complaint alleges that since 2017, Driver Loan has been offering small-dollar, short- term, high-interest rate loans to consumers. It also alleges that in 2020, Driver Loan began taking deposits from consumers to fund its loans.

Florida 78

Florida FDIC Meeting Marketing 78

CFPB Monitor

JUNE 3, 2021

In its complaint filed in a Florida federal district court, the CFPB alleged that since 2017, Driver Loan offered small-dollar, short- term, high-interest rate loans to consumers. It also alleged that in 2020, Driver Loan began taking deposits from consumers to fund its loans.

Florida 78

Florida FDIC Meeting Marketing 78

CB Insights

MAY 27, 2020

across 404 deals, marking the worst Q1 since 2016 for fintech deals and the worst Q1 for funding since 2017. Mercury , which provides startups with FDIC-insured bank accounts. Fintech saw its worst quarter in 2 years in Q1’20, as investors pulled back from deals amid the coronavirus pandemic. REGISTER NOW: FINTECH WEBINAR.

Fintech 92

Fintech FDIC Trends Capital 92

Jeff For Banks

JANUARY 13, 2018

The below statistics are from all FDIC insured financial institutions either for the year-to-date ended or period ended September 30, 2017. I used Call Report data, so the calendar year is the fiscal year.

FDIC 60

FDIC Taxes Groups Data 60

CFPB Monitor

OCTOBER 21, 2021

The CFPB, Federal Reserve Board, FDIC NCUA, OCC, in conjunction with the state bank and state credit union regulators, jointly issued a statement on managing the transition away from LIBOR (Joint Statement).

Regulation 78

Regulation Management FDIC Risk Management 78

American Banker

DECEMBER 13, 2016

said Tuesday that it will again reduce its operating budget for fiscal year 2017. WASHINGTON – Due to its declining receivership responsibilities, the Federal Deposit Insurance Corp.

FDIC 28

FDIC Washington Operations Regulation 28

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. Rather, the decision acknowledges that both the OCC and FDIC had issued proposals rejecting Madden.

Colorado 78

Colorado FDIC Analysis National 78

ForwardBanker

DECEMBER 18, 2017

By Laura Bruck The FDIC released impressive figures in their Q1 report of U.S. Aggregated net income for financial institutions was $44 billion in the first quarter of 2017. bank performance. This is a 12.7 percent increase from the year prior. Community banks shared this growth with a 10 percent increase. Collectively, more than half.

FDIC 33

FDIC Community Bank Community Report 33

Jeff For Banks

AUGUST 14, 2022

The FDIC's quarterly Supervisory Insights for Summer 2011 had a list! OPC formally ended in 2017. What were disfavored industries? It has since been modified and the list removed because it was too obvious what they were doing. But the bad taste lingered.

Operations 78

Operations Lending FDIC Industry 78

PYMNTS

NOVEMBER 14, 2019

According to an FDIC study , 6.5 households in the United States were unbanked in 2017 (the most recent survey year), which equals approximately 8.4 payments were made in person in 2017, and 39 percent of those were made with cash. Unbanked or underbanked consumers aren’t just an issue in the developing world. percent of U.S.

Payments 124

Payments United States Online Google 124

Insights on Business

FEBRUARY 22, 2019

3] Source: FDIC banking industry data, 1994-2017. Explore IBM Banking and Financial Markets Solutions. [1] 1] Source: Accelerating digital transformation in banking, Deloitte, Oct 2018. [2] 2] Source: 2018 U.S. Retail Banking Satisfaction Study, JD Power. [3]

Branding 143

Branding FDIC Retail Leadership 143

PYMNTS

OCTOBER 17, 2017

An industrial bank is an FDIC-insured depository institution that is generally subject to the same banking laws and regulations as any other bank charter type, with the important exception of the Bank Holding Act of 1956. ILCs are used to form industrial loan companies, better known as industrial banks. And those can take a while.

Industry 108

Industry Fintech FDIC Community Bank 108

PYMNTS

MARCH 18, 2019

According to the Federal Deposit Insurance Corporation (FDIC), the percentage of unbanked Americans fell to its lowest level since the 2007-2009 financial crisis. In 2017, 6.5 She added that the annual $60 cost for the new accounts compares with charges of $200 to $500 per year at check cashing and money order service providers.

America 175

America Survey FDIC System 175

PYMNTS

JANUARY 9, 2018

In July 2017, the Federal Deposit Insurance Corporation (FDIC) held a meeting with a group of community bankers which told officials about the competitive pressures they’re facing from FinTechs. It’s a strategic move as alternative finance companies are also positioned to compete against community banks.

Community Bank 131

Community Bank Community Fintech Lending 131