CFPB Monitor

OCTOBER 25, 2022

Following up on a threat it made back in 2018 , the New York State Department of Financial Services (DFS) announced on October 6, 2022 that it entered into a consent order with Rhinebeck Bank (“Rhinebeck”) to settle discrimination claims involving discretionary dealer markups on retail installment contracts with minority borrowers.

New York 78

New York Lending Community Bank Community 78

PYMNTS

AUGUST 7, 2018

Traditional institutions are picking up steam in their efforts to collaborate with alternative financiers and FinTech firms, largely viewed as a way to spin the competition into allies and upgrade their lending services without the burden of in-house R&D. However, the Federal Reserve ‘s latest analysis of the U.S.

Lending 100

Lending Survey National Trends 100

South State Correspondent

MARCH 5, 2022

With short-term interest rates rising and long-term rates still at historically low levels, all bankers should understand how swap spreads may provide a competitive lending advantage. In this current market, swap spreads are negative, and banks that can utilize swap spreads in pricing loans gain a substantial pricing advantage.

Community Bank 195

Community Bank Lending Community Regional 195

PYMNTS

FEBRUARY 19, 2019

months in the first half of 2018, from 5.6 The average merger review time at the Office of the Comptroller of the Currency (OCC) declined between 2016 and 2018, too, reports in The Wall Street Journal said. making it one of the nation’s first new community banks in years. months in the first half of 2017.

Marketing 108

Marketing Community Community Bank Industry 108

PYMNTS

JULY 16, 2018

New rules may loom for technology providers pertaining to privacy — on a national level. In the banking sector at large, lenders are lending and shadow banks might be, too. The junk market, so to speak, is worth as much as $2.3 Bankers Should Mull Risks of Junk. Think of it as a race to the bottom, they stated.

National 100

National California Regulation United States 100

PYMNTS

NOVEMBER 14, 2018

But the speed at which some things have already made the switchover – payments and lending spring to mind – is impressive. trillion: Estimated value of the global digital payments market by 2027. 100 million: The expected installed base for smart speakers by the end of 2018 – 2.5

Data 151

Data Apple Lending National 151

PYMNTS

FEBRUARY 2, 2021

We’re growing a market of people who have never bet before in Tennessee.”. While most people have played an office Super Bowl or March Madness pool, Hodges said that legal, regulated betting on sporting events has largely been a cash market enterprise that was the domain of black market bookies. Next Steps.

Tennessee 262

Tennessee Payments social media Regulation 262

CFPB Monitor

NOVEMBER 15, 2018

In May 2018, the OCC issued a bulletin intended to encourage its supervised institutions to offer small-dollar loans. While the OCC’s encouragement of small-dollar lending was in one sense a welcome development, the OCC bulletin raised several concerns. The FDIC’s issuance of the RFI signals that the FDIC intends to follow suit.

FDIC 60

FDIC Lending National Examples 60

PYMNTS

AUGUST 29, 2017

As Australian regulators continue to press the nation’s largest banks for fairer small business lending practices, a new small- to medium-sized businesses (SMB) lending platform is headed for the market. The platform will eventually expand to offer asset finance and unsecured finance later in 2018, reports said.

Groups 109

Groups Lending Training Regulation 109

PYMNTS

OCTOBER 1, 2018

What does small business (SMB) lending look like? seems to be kicking off, showing evidence of surpassing traditional bank lending at many times. In Mexico, small business lending is muted across the board. In Mexico, small business lending is muted across the board. For example, alternative finance in the U.K.

Lending 115

Lending Survey Data National 115

Jeff For Banks

NOVEMBER 24, 2019

The bank, First National Bank of Keystone, was $1.1 The government guarantee allowed for a secondary market in these loans. And so went the birth of First National Bank of Keystone's meteoric rise. Nationwide lending! Keystone expanded its lending to include high loan-to-value mortgages and home equity loans.

National 78

National West Virginia Virginia Pennsylvania 78

PYMNTS

JUNE 18, 2018

Biz2Credit’s latest Small Business Lending Index found that loan approval rates at alternative lenders stagnated – and at credit unions, they actually fell. Thirty-four years have passed since SMB optimism was this high , according to the National Federation of Independent Business (NFIB). But the story doesn’t end there.

Lending 112

Lending Community Bank Regional Community 112

South State Correspondent

JUNE 9, 2022

Community banks do not need to buy new businesses to increase fee income; instead, we think they have to analyze where additional fee income possibility exists, focus on customer acquisition that generates additional fee income, and structure loans to take advantage of substantial hedge fee potential in today’s market.

Community Bank 195

Community Bank Community Comparison Fintech 195

PYMNTS

DECEMBER 5, 2018

The nation continues to push against cash in favor of digital payments, while both the government and private sector continue to fuel FinTech innovation. It hasn’t been easy for the nation’s small businesses, however. The company planned to more than triple its customer base by the end of 2018.

Innovation 171

Innovation Survey Operations Community 171

PYMNTS

APRIL 18, 2019

Reports in ABA Banking Journal this week said the Small Business Credit Survey , released as a collaborative effort between the 12 Federal Reserve banks, revealed the majority of small businesses surveyed reported being profitable last year, and had experienced an increase in revenues throughout 2018.

Capital 109

Capital Survey Lending Online 109

PYMNTS

FEBRUARY 16, 2018

Data released in ADP’s Canada National Employment Report, published Thursday (Feb. But several sectors saw a drop in headcounts, with the second largest falling on the financial services and real estate market, which saw a decline of 7,000 jobs.

Lending 108

Lending National Data Analysis 108

Independent Banker

JULY 31, 2022

What also sets Locality Bank apart from existing financial institutions in its market is that its board and management have a “first principles mindset, one where we set out to create the bank from the start to serve the needs of the local business community,” says Keith Costello, president, CEO and one of Locality Bank’s cofounders.

Florida 91

Florida Community Bank Community FDIC 91

Abrigo

SEPTEMBER 16, 2019

Dunkleberg is the former dean of Temple’s School of Business and Management and has served as the Chief Economist for the National Federation of Independent Business since 1971. Bankers’ attitudes reflect conditions in capital markets and conditions in the economy, primarily the local economy served by each bank,” Dunkelberg and Scott wrote.

Community Bank 150

Community Bank Community Policies Survey 150

CFPB Monitor

JULY 10, 2020

Since April 2018, he has served as CFPB Policy Associate Director for Research, Markets, and Regulations since April 2018. Mr. Brown has more than two decades of experience working with national and local organizations to increase financial well-being and economic opportunities for consumers.

Policies 78

Policies Lending Community National 78

PYMNTS

SEPTEMBER 17, 2019

While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of consumer lending. The loan amount a borrower can get from a pawnbroker is determined solely by the value of the item itself; as in most forms of short-term lending, there is no credit check.

Ohio 151

Ohio Lending Iowa South Dakota 151

PYMNTS

DECEMBER 5, 2019

billion into lending startups. Of that nearly $1 billion ($909 million) went to India-based lending startups making it the third largest market for investor dollars in this segment behind China and the U.S. And, according to Wall Street Journal reports, in 2018 U.S. The Less Consumer Friendly Side of FinTech Lending.

Lending 131

Lending Fintech Regulation Report 131

PYMNTS

OCTOBER 30, 2018

The platform is designed to make it easy to set savings goals, control how long savings payouts will be and to invite friends and family members to either save collaboratively or contribute directly to users’ savings efforts through direct lending. It is also a highly mobile nation: According to a TRAI report , 95.78

National 122

National Fintech Mobile Lending 122

PYMNTS

DECEMBER 27, 2019

That help is forthcoming, as in the case of the Central Bank of Ireland , which is changing regulations to favor more CU lending with higher limits. The National Credit Union Administration (NCUA) trade group reported that net income for credit unions fell by 1.1 Even so, they have decisions to make – and quickly, too. Digital Unison.

Digital Banking 130

Digital Banking Millennials Banking Trends Mobile 130

PYMNTS

JANUARY 8, 2019

With the investment, which is from Investa Wahana Group, the company seeks to invest in possible acquisitions, strategic investments and peer-to-peer lending. KinerjaPay, which runs a mobile app and web portal, was reportedly the first eCommerce company in Indonesia to have a listing on the OTC market in the United States.

Regional 128

Regional blockchain Mobile United States 128

Gonzobanker

MAY 4, 2020

In the midst of unprecedented market volatility, recent deals and back-channel chatter illustrate that fintech demand remains high. I like this bank-acquiring-fintech deal (similar to City National Bank’s August acquisition of FilmTrack and 2018 acquisition of Exactuals). SoFi/Galileo: This $1.2

Fintech 109

Fintech FDIC Capital Community Bank 109

CFPB Monitor

NOVEMBER 21, 2019

In that decision, the Second Circuit held that a nonbank that purchased charged-off loans from a national bank could not charge the same rate of interest on the loan that Section 85 of the National Bank Act (NBA) allowed the national bank to charge. Midland Funding. The OCC’s rule would be added to 12 C.F.R.

FDIC 78

FDIC National Lending Policies 78

PYMNTS

APRIL 30, 2018

National Small Business Week is this week in the U.S., But analysts from Bank of America, Square, Navcom and the National Association for the Self-Employed warn that challenges for some SMBs have reached new heights, too. and global stock markets are also top concerns among entrepreneurs surveyed by the bank.

Taxes 144

Taxes America National Community 144

CFPB Monitor

FEBRUARY 11, 2019

The bulletin was intended “to remind banks of the core lending principles for prudently managing the risks associated with offering short-term, small-dollar installment lending programs.”. We are aware of at least one national bank and one state member bank that currently offer short-term deposit advances to their customers.

Lending 68

Lending Compliance Meeting National 68

FICO

OCTOBER 10, 2022

And financial institutions use FICO® Scores to underwrite lending to millions of people so that they can achieve their financial goals like buying a first home or starting a business. The National Consumer Law Center suggests that “a bad score could shut out a renter out of apartments in a decent school district or even permanent housing.”

Analytics 52

Analytics Lending Data Michigan 52

CB Insights

DECEMBER 12, 2019

From payments to insurtech to lending, fintech companies are attracting investor attention. In 2018, startups in the space raised more than $45B , a record amount, while Q3’19 fintech funding recently clocked in with a quarterly record of nearly $9B. valuation in May 2018, while payments startup Square IPOed at a $2.9B

Fintech 41

Fintech US Lending Analytics 41

CB Insights

DECEMBER 4, 2019

In parallel, Amazon has made several fintech investments, mostly focused on international markets (India and Mexico, among others) where partners can help serve Amazon’s core strategic goal. Market strategy outside the US. Through trial and error, the company has set up key financial pillars across payments, cash deposits, and lending.

Cards 101

Cards Lending Strategy US 101

FICO

DECEMBER 20, 2018

In our current rising rate environment, any bank that can’t grow (or at least sustain) its deposits base will face shrinking net interest margins and a competitive disadvantage in their consumer lending businesses. small-dollar lending market. This is critical to making the business case for small-dollar lending viable.

Trends 73

Trends Lending Fraud Exercises 73

PYMNTS

AUGUST 13, 2019

Loans are very much at a higher rate than you would normally expect,” said Daniel Rozas, co-founder of consultancy group Microfinance Index of Market Outreach and Saturation ( Mimosa ) told Bloomberg. Many have argued that microlending in practice has not lived up to its initial hype — that it would help people lift people out of poverty.

Report 158

Report Study Industry Marketing 158

Bobsguide

OCTOBER 4, 2022

London, UK – October 3, 2022 – Finastra today revealed a sneak peek at its annual State of the Nation Financial Services research. Results point to the significant progress the industry has made around open finance and collaboration, despite the challenging market conditions of the last few years.

Leadership 68

Leadership Innovation Industry Capital 68

FICO

AUGUST 29, 2018

Earlier this year at FICO World 2018 , we held a session on the growing application of pricing optimization to mortgage loan books. We invited one of our clients, National Australia Bank to speak about its journey using this type of advanced analytics. How has optimized pricing put NAB at the top of the lending game?

Video 49

Video Analytics National Strategy 49

CFPB Monitor

AUGUST 1, 2019

The CFPB notes that later this summer the national loan level dataset for 2018 and the CFPB’s annual overview of residential mortgage lending based on that data (collectively, the “2018 HMDA Data”) will be released, and that stakeholders have asked to submit comments on the May 2019 proposal based on the 2018 HMDA Data.

Data 60

Data Report Maine Lending 60

PYMNTS

MAY 6, 2019

Yet, steps to achieve that growth may be difficult, considering the low unemployment and tight labor market, threats of cyberattacks and a continued sentiment that traditional bank financing simply isn’t cutting it for the small business owner. small business. Thirty-two percent of U.S.

Survey 115

Survey America Analysis Data 115