CFPB Monitor

MAY 7, 2020

The CFPB’s annual fair lending report covering its 2019 activities is scheduled to be published in tomorrow’s Federal Register. The Bureau states that an area of innovation that it is monitoring for fair lending and credit access issues is “artificial intelligence (AI), and more specifically, machine learning (ML), a subset of AI.”

Lending 78

Lending Report FDIC Policies 78

Jeff For Banks

APRIL 4, 2024

Such as direct lending funds, and insurance companies. Shadow bank lending is similar to bank lending but is not subject to the same regulations, and compensating deposit balace requirements. And, according to some EDP students that are lenders, are turning to the shadow banking market that do not have deposit demands.

Banking Trends 113

Banking Trends Trends Millennials Oregon 113

Abrigo

DECEMBER 2, 2021

Indeed, deposit levels to transaction accounts among community banks exploded 74% to $896.5 31, 2019, and June 3, 2021, according to the Community Banking in the 21st Century report. In a competitive lending environment, many banks and credit unions are concerned about losing good-quality loans if they over-price them.

Conference 195

Conference San Antonio Lending Fraud 195

FICO

DECEMBER 20, 2018

For my predictions, I’ll focus on four areas of tactical concern within consumer banking that I feel confident bank executives will make significant progress addressing 2019. We began to see a resurgence in small-dollar lending in 2018 with new regulatory guidance from the OCC and FDIC encouraging banks to compete with payday lenders.

Trends 73

Trends Lending Fraud Exercises 73

Independent Banker

NOVEMBER 30, 2022

Stacy Watkins (left), president and CEO, and Hilary Nelson (right), senior vice president and director of operations and compliance, at the Las Vegas Strip. When it comes to supporting outliers in the Las Vegas community, Lexicon Bank knows how to play its cards. Photo by Sammy Tillery. By Tom Groenfeldt. Name: Lexicon Bank.

Las Vegas 129

Las Vegas Community Bank Community Wisconsin 129

PYMNTS

DECEMBER 23, 2019

This year, 2019, the average American will spend three hours and 43 minutes per day on mobile devices, just ahead of the three hours and 35 minutes spent watching television. Scott Sanborn, CEO Lending Club. And Lending Club will change. Don’t Count Alternative Lenders Out Even If The Economy Hiccups. “We

Lending 131

Lending National System Management 131

Abrigo

NOVEMBER 15, 2019

Key Takeaways Effective credit risk review promotes lending agility. Effective credit risk review promotes lending agility. However, many community financial institutions derive a significant portion of income from lending. Furthermore, lending is a major source of risk for most banks and credit unions.

System 150

System Lending Compliance Risk Management 150

CFPB Monitor

NOVEMBER 16, 2021

6247-A) to the New York Community Reinvestment Act (NYCRA) that expand the NYCRA’s coverage to non-depository mortgage lenders. Expansion of CRA coverage. On November 1, New York Governor Hochul signed into law amendments (S.5246-A/A.6247-A) The amendments are effective November 1, 2022.

New York 78

New York Community Regulation Data 78

CFPB Monitor

OCTOBER 25, 2019

The CFPB announced today that it will hold a symposium on Dodd-Frank Act Section 1071 on November 6, 2019. In its Spring 2019 rulemaking agenda, the CFPB indicated that it expected to resume Section 1071 pre-rulemaking activities in 2019. Neiman, Head of Regulatory and Government Affairs, Lending Club.

Tampa 60

Tampa Lending California Community 60

FICO

NOVEMBER 29, 2018

This issue was discussed at the NAGGL 2019, National Association of Government Guaranteed Lenders, conference where hundreds of SBA lenders gathered to learn about policy changes, SBA online application submission solutions, how to create successful sales reps, and other trends in the industry impacting SBA lenders. Or visit our website.

Community 67

Community Community Bank Policies Leadership 67

Jeff For Banks

DECEMBER 10, 2023

Communities First Financial Corporation (Now FFB Bancorp) (OTCQX: FFBB) #2. Treasury as a Community Development Financial Institution (CDFI). Treasury to be used to help underserved communities bounce back from the Covid-19 pandemic. As a result of these investments, the bank has grown over 65% since 2019.

Fresno 101

Fresno North Carolina Raleigh FDIC 101

CFPB Monitor

JANUARY 28, 2021

The fate of the OCC’s Community Reinvestment Act (“CRA”) final rule , issued on May 20, 2020, hangs in the balance following the inauguration of President Biden on January 20 and the resignation of former Acting Comptroller Brian Brooks, who was a major proponent of the rule, on January 14.

Community 131

Community FDIC Lending Survey 131

CFPB Monitor

JUNE 18, 2019

Department of Justice announced last Thursday that it had reached an agreement with First Merchants Bank, an Indiana state-chartered bank, to settle the redlining lawsuit that the DOJ filed against the bank on June 13, 2019 simultaneously with a settlement agreement and agreed order. Maintaining a fair lending monitoring program.

Indianapolis 120

Indianapolis Lending Indiana Community 120

PopularBank

MARCH 11, 2020

The rating, which is based on an analysis of financial data reported as of December 31, 2019, signals a superior banking performance for the fourth quarter of 2019 and is the firm’s highest rating. “We Find out more about Popular Bank’s commitment to community service at PopularBank.com/About-us/.

New Jersey 59

New Jersey New York Florida Lending 59

Independent Banker

OCTOBER 31, 2018

This year, you’ve probably heard me say that ICBA is focused on three pillars: community bank advocacy, education and innovation. As I put on three hats—consumer, community banker, and ICBA president and CEO (in no particular order)—I see three specific opportunities for innovation. Most of my time will be spent in ICBA’s D.C.

Fintech 70

Fintech Community Bank Community Nashville 70

PYMNTS

DECEMBER 11, 2019

That’s why, she noted, the Opportunity Fund in 2012 created a low-cost lending program for independent truckers to provide them with the funds to either retrofit their existing trucks into compliance with the state’s regulations, if possible, or to put a down payment on a new vehicle if not. Read more in “Accelerating Opportunity.”

California 131

California District of Columbia Lending Taxes 131

PYMNTS

DECEMBER 11, 2020

Synctera Brings 'FinTech As A Service' To Community Banks. FinTechs want to offer compliant banking services, while community banks want new ways to grow deposits. Online lending startup Social Finance (SoFi) is in talks to go public through a sale to blank-check acquisition company. million in consumer losses.

Trends 175

Trends Fraud Millennials Community Bank 175

Independent Banker

OCTOBER 31, 2021

The CARES Act extended the CECL implementation deadline for many larger community banks until the end of the COVID-19 pandemic. Community bankers tell us that while the extension is welcome, they’re already down the road to implementation. ICBA tells FASB CECL isn’t feasible for community banks. June 4, 2019. April 2011.

Community Bank 91

Community Bank Community Software New York City 91

Bank Innovation

FEBRUARY 19, 2019

Community Capital Technologies, Denizen Financial, Diro Inc., The 12 startups demoing to try to win the “best in show” award at Bank Innovation Ignite have been unveiled. The startups are:[link] Avocado Payments, Budgit Inc., Exagens Corp., Fintel Labs, iGTB, JUDI.AI, KapitalWise, OpenDoor Securities, and Operant.AI

Innovation 240

Innovation Community Capital Fintech 240

Abrigo

DECEMBER 20, 2021

Now is the time for community financial institutions to pay attention. The CBOT penalty is a solid reminder to all community financial institutions that a robust AML program is critical in guarding against money laundering and terrorist financing risks regardless of size and risk. The dates cited are between 2015 and 2019.

Resources 195

Resources Texas Analysis System 195

ABA Community Banking

MAY 16, 2019

Q1 2019 TransUnion Industry Insights Report explores latest consumer credit trends Consumer Credit The Economy Feature Lines of Business Retail Banking Financial Trends Customers Revenue Core Systems Cards Fair Lending Consumer Compliance Profitability Feature3.

Cards 40

Cards Compliance Trends Lending 40

CFPB Monitor

FEBRUARY 14, 2019

A new executive order signed by President Trump on February 11, 2019 is intended to maintain American leadership in artificial intelligence (AI) research and development (R &D). The order directs certain federal agencies to pursue various strategic objectives to promote and protect American advancement in AI.

Lending 84

Lending Community National Leadership 84

CFPB Monitor

APRIL 1, 2021

The agencies observe that the potential risks associated with using AI are not unique to AI, such as creating operational vulnerabilities and consumer protection risks (fair lending, UDAAP, privacy). AI use by community institutions. Fair lending. Uses of AI. Overfitting (i.e. Cybersecurity. Dynamic updating.

Risk Management 78

Risk Management Training Lending FDIC 78

Gonzobanker

DECEMBER 14, 2023

Not the financial industry’s “Troublemakers ” – those regional and community banks, credit unions and supporting fintech entrepreneurs who continue to engage customers and communities and find niches that keep the grassroots of our country’s financial system alive and kicking. We are in awe. Seriously in awe.

Fintech 194

Fintech Community Regional Technology 194

CFPB Monitor

OCTOBER 1, 2018

On September 19, 2018, the Georgia based Cooperative Baptist Fellowship (the “Fellowship”) filed a motion to intervene as a defendant in a case filed by the Community Financial Services Association of America Ltd. The Payday Rule is currently set to be implemented by August 19, 2019.

Georgia 68

Georgia Texas Groups Conference 68

Abrigo

OCTOBER 2, 2014

• Leverage ratio – Includes off-balance sheet exposures and will serve as a “backstop to the risk-based capital requirement,” but could lead to reduced lending. Over the next few years, the percentage gradually increases to 2.5%, effective January 1, 2019.

How To 236

How To Capital Community Bank Maine 236

Abrigo

NOVEMBER 9, 2022

The Q1 2023 compliance date is near for smaller SEC-reporting financial institutions and private or not-for-profit banks and credit unions, and progress is decidedly mixed, according to the Abrigo 2022 CECL Survey. For community banks specifically, they’re already reserving for a lifetime of credit losses,” he said. CECL Methodologies.

Survey 195

Survey Software Resources Meeting 195

Independent Banker

JULY 28, 2016

Establishing a comprehensive Compliance Management System. Does it sound like “reality compliance”? The demands of managing regulatory compliance are uncontested, and depending on the disposition of the participants inside and outside of the bank, compliance management exists with varying degrees of problems and adversity.

Compliance 70

Compliance Training Community Bank Regulation 70

CFPB Monitor

OCTOBER 26, 2018

Earlier today, the Bureau of Consumer Financial Protection released a Public Statement Regarding Payday Rule Reconsideration and Delay of Compliance Date. This treatment of card payments can only be ascribed to the hostility to high-rate lending characteristic of the former leadership of the Bureau.

Texas 60

Texas Compliance Leadership Industry 60

CFPB Monitor

JULY 30, 2020

On July 28, 2020, the CFPB issued a request for information (“RFI”) seeking public input on how best to create a regulatory environment that expands access to credit and ensures consumers and communities are protected from discrimination in all aspects of credit transactions. How to facilitate greater usage of special purpose credit programs.

Regulation 78

Regulation Lending Industry Innovation 78

Gonzobanker

JANUARY 17, 2020

For execs who climbed the ladder in finance, lending or branches, buckle in because the techies are about to steal the show. Community banks and credit unions do not fear each other. Here’s a great question for community bank executives: What would it take for your local competitors to fear you as much as a Top 5 player?

Customer Experience 126

Customer Experience Fintech Regional Cards 126

CFPB Monitor

JANUARY 12, 2021

The CFPB created the Taskforce in October 2019 to examine ways to harmonize and modernize federal consumer financial laws. Congress should authorize the Bureau to issue licenses to non-depository institutions that provide lending, money transmission, or payment services. Fintech regulation.

Report 78

Report Regulation Policies Compliance 78

PYMNTS

FEBRUARY 15, 2019

Compliance startup Chainalysis works with law enforcement officials and financial institutions (FIs) to ensure that their cryptocurrency operations are within regulations. Starling noted that it also plans to accelerate its global expansion, first focusing on Europe, with aims to reach 1 million customers by the end of 2019.

Capital 122

Capital cryptocurrency Operations Financial Technology 122

FICO

FEBRUARY 23, 2016

For mortgage professionals still recovering from clearing the latest compliance hurdle, it is time to lace up for the next challenge—the Home Mortgage Disclosure Act (HMDA) decathlon. This information was intended to help assess whether lenders were serving the housing needs of communities. Clearly, the compliance bar is being raised.

Compliance 40

Compliance Lending Data Report 40

CB Insights

FEBRUARY 13, 2020

These APIs handle everything from acceptance and processing to settlement and reconciliation, while ensuring compliance and security. In an interview at CB Insights’ 2019 Future of Fintech conference, CFO and CPO William Gaybrick indicated that businesses are more constrained by developer resources than by capital.

Online 98

Online Company Retail Payments 98

Gonzobanker

MAY 21, 2019

Acme has doubled its size in the past five years with acquisitions of smaller community banks. The Risk and Compliance group is rarely seen, but they are constantly distributing lengthy emails expressing grave concern about any proposed organizational changes and potential regulatory exam criticisms. To: Jeff Bezos – CEO.

Customer Experience 112

Customer Experience Analytics Management Operations 112

FICO

JANUARY 5, 2023

Tue, 07/02/2019 - 02:45. Just in the last few months, both Freddie Mac and Fannie Mae announced that their respective automated underwriting systems will consider consumer-permissioned cash flow data in the assessment process that will provide key benefits for first-time homebuyers and underserved communities. FICO Admin.

Policies 52

Policies Company Regulation Risk Management 52