PYMNTS

DECEMBER 3, 2019

The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), FinCEN , the OCC and the Conference of State Bank Supervisors participated in issuing the definitions and guidelines. It was amended to include the Patriot Act, which requires every bank to adopt a customer identification program.

Regulation 137

Regulation Guidelines FDIC Conference 137

CFPB Monitor

MAY 22, 2020

The Federal Reserve, OCC, FDIC, and NCUA have issued “ Interagency Lending Principles for Offering Responsible Small-Dollar Loans.” Effective management of credit, operational, compliance, and other risks.

FDIC 78

FDIC Policies Lending Guidelines 78

PYMNTS

DECEMBER 14, 2018

News came earlier in the month that several federal agencies have come out — together — in support of banks embracing innovation in their compliance efforts. It all comes, at least on the surface, as a message of support that also comes at a time when chief compliance officers may be a bit trepidatious.

Compliance 148

Compliance Innovation FDIC Examples 148

CFPB Monitor

OCTOBER 9, 2018

On September 13, 2018, the Department issued an Order exempting loan solicitation companies from licensure when they partner with FDIC-insured banks to offer commercial loans.

Vermont 68

Vermont FDIC Regulation Training 68

CFPB Monitor

NOVEMBER 2, 2020

The CFPB, OCC, Federal Reserve, FDIC, and NCUA have issued a proposed rule on the role of supervisory guidance. In September 2018, the agencies issued an “ Interagency Statement Clarifying the Role of Supervisory Guidance.” In response to the Statement, the agencies received a petition requesting a formal rulemaking on the subject.

FDIC 78

FDIC Regulation Compliance Risk Management 78

CFPB Monitor

JANUARY 26, 2021

The CFPB , OCC , FDIC and NCUA have issued substantially similar final rules on the role of supervisory guidance. In September 2018, the agencies issued an “Interagency Statement Clarifying the Role of Supervisory Guidance.” The final rules adopt the agencies’ proposals without substantive change. emphasis added).

Compliance 78

Compliance FDIC Regulation Examples 78

Jeff For Banks

DECEMBER 10, 2023

Although one might argue that First Citizens BancShares of Raleigh is a SIFI as it climbed to the 19th largest in the country with its Silicon Valley Bridge Bank acquisition from the FDIC, and that the FDIC designated SVB as systemically important. It has not been all sunshine and rainbows for TBBK.

Fresno 101

Fresno North Carolina Raleigh FDIC 101

FICO

JANUARY 13, 2020

In 2018, the DC Circuit Court of Appeals issued a ruling which struck down or vacated, in part, a previous 2015 Declaratory Ruling and Order made by the Federal Communications Commission (FCC). While current FCC leadership has tried to address some of the other issues implicated in the 2018 decision (e.g.,

Policies 52

Policies Las Vegas FDIC Washington 52

CFPB Monitor

AUGUST 8, 2019

The letter was conditioned on Upstart’s agreement to a model risk management and compliance plan that required it to analyze and address risks to consumers, and assess the real-world impact of alternative data and machine learning. The Bureau issued its first (and so far only) no-action letter in September 2017 to Upstart Network Inc.

Data 60

Data Lending Compliance Policies 60

American Banker

AUGUST 17, 2023

A 2018 report laid the groundwork for the Biden administration's push to root out discrimination in home valuation. A counter study says no such practices exist.

Study 69

Study Data Report FDIC 69

CFPB Monitor

NOVEMBER 12, 2018

The American Bankers Association and the Bank Policy Institute have sent a letter to the Board of Governors of the Federal Reserve System (Fed) to petition the Fed to engage in rulemaking to clarify the Fed’s September 2018 “ Interagency Statement Clarifying the Role of Supervisory Guidance ” (the “Interagency Statement”).

Groups 60

Groups FDIC Regulation Policies 60

Insights on Business

MARCH 5, 2019

Reducing costs but appeasing regulators seems like an oxymoron, yet, many AML compliance and operations leaders are being asked to do just that. They even mentioned that these approaches “can maximize utilization of banks’ BSA/AML compliance resources.” But is it possible? Federal encouragement starts now.

Regulation 70

Regulation Compliance Analysis Innovation 70

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.

Regulation 78

Regulation Policies FDIC Lending 78

FICO

DECEMBER 20, 2018

Siloed business units and technology stacks for credit risk, marketing, fraud and compliance work extraordinarily well for maintaining the status quo, but poorly when it comes to large-scale transformation. Payday Lenders Will Face More Robust Competition. small-dollar lending market.

Trends 73

Trends Lending Fraud Exercises 73

Jeff For Banks

JULY 20, 2012

The FDIC IMCR commonly required a Tier 1 leverage ratio of 8%, and total risk-based ratio of 12%. If Basel is adopted according to its timetable, FIs will have to be in full compliance by the end of 2018. If you are not familiar with my family, it happens a lot. The only relevant perceiver, in this case, is the regulator.

Capital 81

Capital Regulation FDIC Groups 81

Jeff For Banks

DECEMBER 16, 2022

The bank consists of two segments: 1) the traditional community bank, and 2) CCBX, which is its Banking as a Service (BaaS) division started in 2018. They were under an FDIC consent order from 2014 through 2020 relating to their BSA and OFAC compliance and their relationship with third parties seeking access to the banking system.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 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. So, Now What?

Lending 135

Lending Fraud Management San Francisco 135

PYMNTS

FEBRUARY 14, 2019

In 2018, consumers in Colorado bought some $1.55 Such prohibition could involve limiting FDIC protections for those deposits, for example, or trying to prevent loans to those businesses. billion worth of legal cannabis products. In California , the industry will be worth at least $5.1

Oregon 230

Oregon Colorado Operations Washington 230

PYMNTS

FEBRUARY 13, 2019

In 2018, consumers in Colorado bought some $1.55 Such prohibition could involve limiting FDIC protections for those deposits, for example, or trying to prevent loans to those businesses. billion worth of legal cannabis products. In California, the industry will be worth at least $5.1

Oregon 115

Oregon Colorado Operations Washington 115

FICO

DECEMBER 19, 2018

The latest fall 2018 rulemaking agenda indicates that the BCFP will issue the rule by March. These are two areas where financial institutions are spending billions of dollars a year on compliance and have been looking to ensure their extensive efforts are properly calibrated to provide regulators with meaningful insights.

Policies 40

Policies District of Columbia Regulation California 40