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

PYMNTS

OCTOBER 1, 2019

Consumer, enterprise and SMB lending all ground to a near halt and underwriters across the spectrum struggled to regain equilibrium after a crisis in mortgage underwriting bloomed into a plague that destabilized the entire global economic system. As of 2017, as consumer credit use was approaching its pre-recession levels in the U.S.,

Data 135

Data Lending Capital Regulation 135

PYMNTS

JANUARY 9, 2018

With big banks pulling back from small and medium-sized business (SMB) lending in the wake of the global financial crisis, the market was ripe for someone else to fill the credit gap. Community banks approved 49 percent of SMB loan applications in November, according to the latest data from the Biz2Credit Small Business Lending Index.

Community Bank 131

Community Bank Community Fintech Lending 131

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. Regulators and consultants promulgate this untruth. And so went your exams. This has happened before. The Fed Funds Rate was 1.25%-1.50%. I monitor trends.

FDIC 60

FDIC System Regulation Conference 60

CFPB Monitor

JUNE 15, 2021

In June 2020, the CFPB proposed amendments to Regulation Z to address the discontinuation of the London Inter-Bank Offered Rate (LIBOR) that is currently used by many creditors as the index for calculating the interest rate on credit cards and other variable-rate consumer credit products. Mortgage Servicing COVID-19 Relief.

Regulation 78

Regulation FDIC Lending Data 78

Abrigo

NOVEMBER 9, 2022

The 2022 CECL implementation survey is the fourth such analysis since 2017 by Abrigo, which has worked with hundreds of financial institutions on CECL implementation. Use a software tool [and] ensure your auditors and regulators are in the loop on progress.” CECL Regulation. Lending & Credit Risk. Learn More.

Survey 195

Survey Software Resources Meeting 195

CFPB Monitor

DECEMBER 15, 2020

Other items listed in the agenda on which the CFPB expects to take action before the end of this year and next year include: Business Lending Data (Regulation B). In March 2019, the CFPB issued an Advance Notice of Proposed Rulemaking to extend Truth in Lending Act ability-to-repay requirements to PACE transactions.

Policies 78

Policies Regulation Data Lending 78

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. Indeed, the U.

Colorado 78

Colorado FDIC Analysis National 78

CFPB Monitor

JULY 6, 2020

The Economic Growth, Regulatory Relief, and Consumer Protection Act directs the CFPB to implement an exemption from the mandatory escrow account requirement for higher-priced mortgage loans under the Truth in Lending Act and Regulation Z for certain insured credit unions and insured depository institutions.

Regulation 78

Regulation Policies FDIC Lending 78

CFPB Monitor

JULY 22, 2020

Previously, Acting Comptroller of the Currency Brian Brooks indicated that the OCC expected to partner with the FDIC in developing the OCC’s “true lender” rule. Previously, Acting Comptroller of the Currency Brian Brooks indicated that the OCC expected to partner with the FDIC in developing the OCC’s “true lender” rule.

National 78

National Lending Exercises FDIC 78

CFPB Monitor

JUNE 15, 2020

On May 20, 2020, the OCC issued a final rule to “strengthen and modernize” its existing Community Reinvestment Act (“CRA”) regulations. 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.

Community 60

Community FDIC Lending Examples 60

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. That lending operation has been fairly successful for Square, and has lent out over $1.8

Industry 108

Industry Fintech FDIC Community Bank 108

PYMNTS

FEBRUARY 19, 2019

months in the first half of 2017. Reports said Powell noted that looser community bank regulations may help keep branches open. Earlier this month, separate reports revealed that MOXY Bank has been approved by the Federal Deposit Insurance Corporation (FDIC) to launch in Washington, D.C.,

Marketing 108

Marketing Community Community Bank Industry 108

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. lending marketplace. Attorney Alex Tse. “We The Response.

Lending 135

Lending Fraud Management San Francisco 135

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

Independent Banker

JULY 29, 2016

Every spring ICBA holds its Washington Policy Summit where hundreds of community bankers from across the country visit with their congressional members and with federal regulators. The next summit takes place April 30–May 3, 2017. FDIC Assessment Rules. Fair lending ruling. In March, the U.S. De novo formations.

Community Bank 70

Community Bank Community Washington FDIC 70

CB Insights

DECEMBER 4, 2019

In 2017, Andreessen Horowitz general partner Alex Rampell said that of all the tech giants that could make a major move in financial services: “Amazon is the most formidable. Through trial and error, the company has set up key financial pillars across payments, cash deposits, and lending. Amazon’s Next Financial Pillar.

Cards 101

Cards Lending Strategy US 101

Fintech Labs Insights

SEPTEMBER 3, 2020

But regulators are not exactly on board. And more recently, Lending Club has a $185M acquisition of Radius Bank pending, though the lender’s $80M Q2 loss is not going to help ease regulators’ concerns. You’d think that Jiko was looking to leverage FDIC insurance to put its customers at ease.

Fintech 15

Fintech FDIC Oakland Minnesota 15

Gonzobanker

FEBRUARY 7, 2018

Bankers understand that the recent passage of the Tax Cuts and Jobs Act of 2017 will markedly change shareholder and Street expectations. While no one attending AOBA imagined a major rollback in legislation, the real benefit is expected to come from changes in style by the regulators. 2: The Bulls. Source: SNL.

Taxes 76

Taxes Video Analytics Arkansas 76

PYMNTS

JANUARY 31, 2019

is set to see its first new community bank in decades, as the Federal Deposit Insurance Corporation (FDIC) lent its approval for MOXY Bank to launch in Washington, D.C. The FDIC’s announcement said a private placement offering will raise at least $25 million for the bank ahead of its launch. Bloomberg listed Casey G.

Community Bank 122

Community Bank Community FDIC Marketing 122

PYMNTS

SEPTEMBER 18, 2017

Levitt also noted that the FDIC has turned down this type of application multiple times in the past. “So, That prompted Cagney to tell employees in August that he would be stepping down as CEO by the end of 2017. The FDIC won’t act in a vacuum,” the source told Reuters. Now they become almost impossible.”.

FDIC 136

FDIC Report Online Regulation 136

PYMNTS

FEBRUARY 22, 2019

Amid rising revenues and decreased taxes, the Federal Deposit Insurance Corporation (FDIC) announced on Thursday (Feb. In an announcement , FDIC Chairman Jelena McWilliams said, “Loan balances expanded, net interest margins improved and the number of ‘problem banks’ continued to decline.”. At the same time, interest income jumped by 8.1

FDIC 116

FDIC Taxes Industry Regulation 116

PYMNTS

FEBRUARY 21, 2017

The CFPB was a few weeks away from releasing new draft regulations, and the money was on regs that would by and large neuter the industry. This has the potential to decimate an entire industry,” one payday lending executive told PYMNTS shortly after the rules dropped. “By So, we’re not asking the 8-Ball; we’re asking the experts.

Lending 101

Lending Regulation Innovation Industry 101

FICO

JANUARY 9, 2017

consumer lending market anticipated 2017 would be more of the same. This meant a continued focus on implementation of recently adopted rules, while bracing for a wave of new regulations from the federal banking agencies. A little-known law will have big impact on regulation. Everything changed on November 8.

Regulation 40

Regulation Lending New York Leadership 40

FICO

JULY 17, 2017

Similar efforts, further crowding the legislative calendar, may be pursued if the CFPB moves forward with issuing its final small-dollar lending regulation. In short, it is hard to see how financial regulatory reform gets any congressional consideration in 2017 or in the foreseeable future. So where does that leave us?

US 40

US Leadership Regulation Policies 40