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

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

FICO

MAY 25, 2023

Home Blog Feed test AI Development Can’t Be Paused—But It Can Be Regulated Since Generative AI is here to stay, ChatGPT’s base grew by 9,900% in 60 days, with 1.8 But it is possible to mitigate further wrongs by regulating artificial intelligence, and I believe effective proposed regulation should start from organizations using AI.

Regulation 52

Regulation San Diego Analytics blockchain 52

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

PYMNTS

DECEMBER 11, 2020

Revolut first added bitcoin, ether and litecoin in 2017. The startup reminded people that cryptocurrencies are not regulated in the U.K. The FinTech partnered with Metropolitan Commercial Bank for FDIC backing of deposits up to $250,000. “As It aims to improve speed, scalability and flexibility for dApps.

cryptocurrency 214

cryptocurrency blockchain FDIC Bitcoin 214

Abrigo

AUGUST 7, 2023

Takeaway 2 Regulators say management should periodically validate the loss estimation process for the allowance for credit losses (ACL) and any changes to it. Regulators have noted such risks can involve financial losses, poor business and strategic decision-making, or damage to a bank’s reputation.

Risk Management 195

Risk Management Handbook Analysis Management 195

PYMNTS

DECEMBER 11, 2020

Revolut first added bitcoin, ether and litecoin in 2017. The startup reminded people that cryptocurrencies are not regulated in the U.K. The FinTech partnered with Metropolitan Commercial Bank for FDIC backing of deposits up to $250,000. “As It aims to improve speed, scalability and flexibility for dApps.

cryptocurrency 150

cryptocurrency blockchain FDIC Bitcoin 150

PYMNTS

MAY 24, 2018

The guidance did not change any regulation, but clarified the regulator’s stance on the loans, Reuters reported. The rules were rescinded in 2017, leading to this guidance. This guidance sends a clear signal [that] bankers can help customers receive short-term loans within the well-regulated, cost-effective banking system.”

FDIC 100

FDIC Lending Regulation Study 100

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

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

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

AUGUST 14, 2022

The FDIC's quarterly Supervisory Insights for Summer 2011 had a list! OPC formally ended in 2017. Now, under the guise of "transparency", mandatory disclosures, and risk mitigation regulators begin asking more and more intrusive questions about the banking relationship with these local fuel oil businesses.

Operations 78

Operations Lending Industry FDIC 78

CFPB Monitor

SEPTEMBER 21, 2022

We recently wrote about a Law 360 report indicating that the CFPB appears unlikely, at least in the near future, to undertake new rulemaking that would regulate the use of consumer arbitration agreements. We analyzed the EPI article at great length back in 2017 and found it was riddled with material errors.

Report 78

Report Study Regulation FDIC 78

CFPB Monitor

DECEMBER 6, 2021

Prior to the issuance of the two new reports, the Bureau’s most recent report on overdrafts was issued in August 2017 under the leadership of former Director Cordray. Two earlier reports were issued in June 2013 and July 2014 , also under former Director Cordray.

Regulation 78

Regulation Policies FDIC Leadership 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. Citibank , 517 U.S.

Colorado 78

Colorado FDIC Analysis National 78

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

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. Portfolio Risk & CECL. Stress Testing. Learn More.

Survey 195

Survey Software Resources Meeting 195

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

Perficient

MARCH 10, 2021

.” SNC (pronounced like the candy bar but without the “ers”) stands for the Shared National Credit Program, which, since 1977, has assessed risk in the largest and most complex credits shared by multiple regulated financial institutions. Loan reviews are completed in the first and third calendar quarters each year.

National 309

National Regulation FDIC Retail 309

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

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

PYMNTS

OCTOBER 1, 2019

Five years after the worst of the carnage in the data out of the Federal Deposit Insurance Corporation (FDIC) showed that lending was beginning to normalize — lending to big businesses had recovered, consumer lending was showing signs of thawing as the mortgage markets began showing signs of coming back from the dead.

Data 135

Data Lending Capital Regulation 135

CFPB Monitor

OCTOBER 10, 2019

Celtic could not make and keep the loans on its balance sheet because they would create an unacceptable risk under FDIC regulations. The complaint includes claims for violations of state usury laws (California, Massachusetts, Colorado, New York) and racketeering and conspiracy under federal RICO statutes. Clark , 137 S.

Massachusetts 84

Massachusetts California New York Utah 84

CFPB Monitor

NOVEMBER 10, 2016

The other FFIEC members are the Fed, FDIC, NCUA, OCC, and State Liaison Committee. The FFIEC members plan to implement the revised rating system for consumer compliance examinations that begin on or after March 31, 2017.

Compliance 120

Compliance System Regulation FDIC 120

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

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. Presumably, we will soon see a proposed “true lender” rule from the FDIC. While consumer groups have already threatened to challenge the OCC rules, the U.S

National 78

National Lending Exercises FDIC 78

American Banker

AUGUST 29, 2020

The Justice Department alleges that the bankers worked with “higher-ranking bank officials” at Washington Federal Bank for Savings in Chicago to falsify records and hide funds prior to the bank's December 2017 collapse.

Chicago 94

Chicago Washington FDIC Community Bank 94

CFPB Monitor

NOVEMBER 23, 2016

These “Know Before You Owe” disclosures are set to go into force on October 1, 2017. The short form disclosure must also include FDIC insurance disclosure and registration statements. The short form disclosures can be roughly broken up into two groups: top line and below the line disclosures.

Cards 60

Cards ATM Groups FDIC 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

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. CBW Bank in a similar category.

Fintech 15

Fintech FDIC Oakland Minnesota 15

Jeff For Banks

FEBRUARY 3, 2018

In 2013, there were 6,812 FDIC-insured financial institutions. At September 30, 2017 there were 5,737, a 16% decline. There were 166 mergers, and four new charters in the first three quarters of 2017. And I have never heard a regulator say the phrase "over capitalized". In 2017, NIMs ranged from a high of 3.8%

Taxes 60

Taxes Regional Industry Trends 60

American Banker

JULY 14, 2020

Ashton Ryan, the New Orleans bank's CEO, and two other officers are accused of disguising the financial condition of certain borrowers before the bank's 2017 collapse.

Fraud 33

Fraud Louisiana FDIC Community Bank 33

PYMNTS

NOVEMBER 18, 2019

recorded its fourth bank failure this year — the first collapse of financial institutions since 2017, according to data from the Federal Deposit Insurance Corp ( FDIC ). Assets and deposits were assumed by Industrial Bank, a press release from the FDIC indicated. Approximately $500,000 in deposits exceeded FDIC insurance limits.

Kentucky 140

Kentucky FDIC Ohio US 140

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. The patent expired in 2017 and opened up the market for competitors to launch off-marketplace payment solutions. children, were unbanked in 2017.

Cards 101

Cards Lending Strategy US 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 DOJ Finding.

Lending 135

Lending Fraud Management San Francisco 135

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

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 OCC, Populus distinguishes the OCC’s reliance on fees from the entities it regulates which it asserts creates political accountability for the OCC.

Groups 78

Groups FDIC Texas Leadership 78