CFPB Monitor

MARCH 30, 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes the following key provisions that affect financial institutions and regulation of financial institutions: Section 4003 – Emergency Relief and Taxpayer Provisions. Section 4012 – Temporary Relief For Community Banks. Section 4008 – Debt Guaranty Authority.

Regulation 122

Regulation United States Community Bank National 122

CFPB Monitor

NOVEMBER 18, 2019

The Subcommittee on Consumer Protection and Financial Institutions of the House Financial Services Committee has scheduled a hearing entitled “ An Examination of Regulators’ Efforts to Preserve and Promote Minority Depository Institutions ” on November 20, 2019. This hearing will focus on the prudential regulators that oversee MDIs.

FDIC 68

FDIC Regulation Resources Community 68

Abrigo

MARCH 25, 2020

Key Takeaways Banking regulators say short-term, COVID-19-related loan modifications shouldn't automatically be categorized as TDRs. Regulators also announced other guidance tied to reporting and risk-based capital rules. Regulators also announced other guidance tied to reporting and risk-based capital rules.

FDIC 150

FDIC Regulation Exercises Community 150

Abrigo

SEPTEMBER 14, 2022

2) To enable communities, governmental entities, and creditors to identify business and community development needs and opportunities of women-owned, minority-owned, and small businesses. Those implementing regulations were coming. In fact, it took a lawsuit initiated by a California community group in 2019 to get things moving.

Lending 195

Lending Data Regulation Community 195

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

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 “neither ECOA nor Regulation B mandate the use of any particular list of reasons. No-Action Letter Policy) to address potential compliance issues.

Lending 78

Lending Report FDIC Policies 78

CFPB Monitor

JUNE 17, 2019

The Federal Reserve Board has issued a report, “ Perspectives from Main Street: Stakeholder Feedback on Modernizing the Community Reinvestment Act ,” that summarizes the feedback it received during a series of roundtable discussions on the current state of, and potential revisions to, the Community Reinvestment Act (CRA).

Report 60

Report Community Regulation Groups 60

CFPB Monitor

APRIL 1, 2021

In what could be an important step towards needed regulatory updating to accommodate the growing use of artificial intelligence (AI) by financial institutions, the CFPB, FDIC, OCC, Federal Reserve Board, and NCUA issued a request for information (RFI) regarding financial institutions’ use of AI, including machine learning (ML). Cybersecurity.

Risk Management 78

Risk Management Training Lending FDIC 78

FICO

JANUARY 13, 2020

While regulators have formed an inter-agency working group to develop viable reform measures, Congress has recently taken action to address the problem. The road to modernizing the Community Reinvestment Act will include some speed bumps. In addition, the Federal Reserve did not join the FDIC and OCC on the proposal.

Policies 52

Policies Las Vegas FDIC Washington 52

Abrigo

NOVEMBER 9, 2022

Compare this to Abrigo’s 2019 CECL Survey responses, when no banks or credit unions had completed adoption, and less than 7% of all institutions were running parallel allowances. For community banks specifically, they’re already reserving for a lifetime of credit losses,” he said. CECL Regulation. Portfolio Risk & CECL.

Survey 195

Survey Software Resources Meeting 195

CFPB Monitor

DECEMBER 14, 2021

The Bureau also continues to prioritize work that promotes racial and economic equity and supports underserved, vulnerable and marginalized communities by, among other things, facilitating access to fair and affordable credit. In the agenda, the Bureau gives an estimated April 2022 date for its next pre-rule steps.

Lending 78

Lending FDIC Regulation Data 78

CFPB Monitor

APRIL 22, 2021

The agencies are the Comptroller of the Currency, Farm Credit Administration, FDIC, Federal Reserve Board, and National Credit Union Administration (Agencies). Recently, federal agencies proposed revisions to the Interagency Questions and Answers Regarding Flood Insurance. Comments on the new proposed Q&As are due by May 17, 2021.

Policies 60

Policies Compliance Meeting Regulation 60

PYMNTS

OCTOBER 29, 2018

The 2019 planning sessions that will mark the next 60 days will no doubt include topics of conversation about the scariest things in payments that could knock key players off their game – or turn their plans upside down. Facebook … and the Facebook Community. Or turn into new opportunities as others take stock and adjust those plans.

Payments 196

Payments Google Apple Innovation 196

PYMNTS

FEBRUARY 14, 2019

That’s because it marked the first hearing dedicated to a proposed bill in Congress that would offer financial institutions protections against federal regulators when dealing with legal cannabis operations. The bill would prevent federal regulators from targeting banks that accept deposits from legal cannabis operators.

Oregon 230

Oregon Colorado Operations Washington 230

PYMNTS

FEBRUARY 13, 2019

That’s because it marked the first hearing dedicated to a proposed bill in Congress that would offer financial institutions protections against federal regulators if dealing with legal cannabis operations. The bill would prevent federal regulators from targeting banks that accept deposits from legal cannabis operators.

Oregon 115

Oregon Colorado Operations Washington 115

FICO

DECEMBER 19, 2018

While many believe that the partisan divide will grow in 2019, this does not mean that all bank-related public policy proposals will be stuck in neutral. I expect the FCC to issue a declaratory ruling in the first half of 2019 that will provide much needed clarity around the definition of Automatic Telephone Dialing System.

Policies 40

Policies District of Columbia Regulation California 40