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.

Regulation 122

Regulation United States Community Bank National 122

Abrigo

AUGUST 9, 2019

Banks and credit unions must learn about these upcoming changes, adjust for them, and meanwhile continue to operate their existing institutions and meet customers’ needs while following all of the regulations that come with being a financial institution. Learn More About The 2019 ThinkBIG Conference. See the entire agenda here.

Management 150

Management Conference Lending Training 150

CFPB Monitor

AUGUST 20, 2020

federal and state financial institution regulators have taken meaningful, proactive steps to acknowledge financial inequality issues, reach out to traditionally underserved populations to expand access to credit, and further protect consumers from discrimination. This blog post contains a summary of those efforts.

Regulation 78

Regulation FDIC Community Lending 78

Abrigo

AUGUST 12, 2019

Abrigo is bringing together the nation’s leading conferences on the new current expected credit loss (CECL) standard, MainStreet Technologies’ National CECL Conference, and the leading conference on lending, credit and portfolio risk best practices, Sageworks’ Lending & Risk Summit. Networking opportunities.

Conference 150

Conference Lending National Risk Management 150

CFPB Monitor

JULY 27, 2020

The CFPB has issued its Spring 2020 Semi-Annual Report to Congress covering the period September 30, 2019 through March 31, 2020. During the period covered by the report, the Bureau filed one fair lending public enforcement action and referred four ECOA matters to the DOJ.

Report 78

Report Lending Leadership National 78

PYMNTS

JULY 1, 2016

Soon after Lending Club revealed its ex-CEO may have artificially inflated the company’s lending volumes, the U.S. Treasury Department released its report on the sector and concluded that the market would likely benefit from greater oversight from regulators. Alternative Lending. Lendingkart.

Lending 101

Lending Analytics Capital Industry 101

FICO

JANUARY 25, 2019

The additional costs and complexity for lenders when managing regulations governing mortgages. Meanwhile, the competition for established mortgage lending has intensified as mortgage system growth slowed over the last few years. The latter group typically have greater levels of lending and are very cognizant of market conditions.

Analytics 74

Analytics Lending Strategy Regulation 74

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

Jeff For Banks

NOVEMBER 24, 2019

September 1st, 1999, regulators from the Federal Deposit Insurance Corp, at the behest of the Office of the Comptroller of the Currency, descended on a small coal mining town in Keystone, West Virginia. Clearly, blue-suit regulators stood out. The bank, First National Bank of Keystone, was $1.1 Nationwide lending!

National 78

National West Virginia Virginia Pennsylvania 78

Abrigo

APRIL 30, 2020

Key Takeaways Federal and state banking regulators have eased coronavirus workout pressures. There has been an influx of calls from consumers who can no longer pay their loans, and this will quickly follow suit on the commercial lending side. 31, 2019; and It must be executed between Mar. 31, 2019, were already “near the edge.”

Strategy 195

Strategy Meeting Software National 195

PYMNTS

DECEMBER 9, 2020

FIS and Worldpay combined in mid-2019, Fiserv and First Data combined shortly thereafter and Worldline SA purchased Ingenico earlier this year. Lukies said the balance of regulatory trust has altered, ushering in a wave of regulations like open banking , PSD2 and GDPR. Banks Let Themselves Get Left Behind.

Innovation 306

Innovation Fintech Payments Regulation 306

PYMNTS

SEPTEMBER 4, 2018

wants its access to the EU’s financial market to be based on a broader version of the “equivalence” regime, which gives countries with regulations that are aligned with the EU access. Reuters noted the system doesn’t cover banking activities such as lending and asset management. The country is due to leave the bloc in March of 2019.

Marketing 100

Marketing Regulation Policies US 100

PYMNTS

JUNE 7, 2019

19, 2019 compliance date for the mandatory underwriting provisions for its short-term, small-dollar (payday) rule, according to various reports. As a policy matter, we support the Bureau’s goal of ending abusive payday lending practices by nonbank lenders. The Bureau of Consumer Financial Protection (CFPB) has delayed the Aug.

Compliance 134

Compliance Lending Policies Meeting 134

PYMNTS

DECEMBER 27, 2019

The PYMNTS December 2019 Credit Union Tracker looks at the changing topography of the CU space, as digital transformation challenges the “all for one, one for all” mentality that has undergirded their business model since the 1800s. percent in Q3 2019, which is a concern for the entire sector. Digital Unison.

Digital Banking 130

Digital Banking Millennials Banking Trends Mobile 130

PYMNTS

SEPTEMBER 19, 2019

Bank lending to business has hit its l owest level in two years. percent decline in the growth rate of business lending, while small-and-medium size businesses saw their rates remain static at.8 member nations. trillion), up from £800 billion in early 2019. . trillion), up from £800 billion in early 2019. .

Case Study 181

Case Study Lending Regulation Study 181

Abrigo

DECEMBER 20, 2021

In addition, the CDD procedures were deemed deficient until revised in 2019, and CBOT did not conduct a lookback for possible higher-risk customers that may have been missed. If your CDD program is not intact, now is the time to tighten things up and watch for new regulations. and CDD will be top of regulators' minds for some time.

Resources 195

Resources Texas Analysis System 195

Bank Activities

JULY 5, 2022

The Australian Prudential Regulation Authority (APRA) is monitoring the closure of Volt and the process of returning deposits to its customers. Volt received its Australian banking license in 2019, and after closing its activities, it will return its license to the issuing regulator.

Operations 36

Operations Regulation Lending National 36

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. In addition, the company reportedly plans to buy back some of its stock “subject to the rules and regulations of the SEC,” according to the report. percent year on year in 2019.

Regional 128

Regional blockchain Mobile United States 128

CFPB Monitor

SEPTEMBER 10, 2020

In 2019, California enacted AB-539, the Fair Access to Credit Act (FACA), which, effective January 1, 2020, limits the interest rate that can be charged on loans of $2,500 to $10,000 by lenders licensed under the California Financing Law (CFL) to 36% plus the federal funds rate. A number of states have challenged these regulations.

Utah 78

Utah California FDIC West Virginia 78

Abrigo

JULY 12, 2021

said Gordon Dobner, Partner in BKD’s National Financial Services Group, during the recent ThinkBIG Conference. “I Lending & Credit Risk. Learn more about qualitative factors under CECL with this whitepaper. . Some financial institutions might say, “’Here are my Q factor adjustments. Do I keep that and start from there?’”

Analysis 195

Analysis Conference Management Regulation 195

PYMNTS

AUGUST 13, 2019

And while the individual loans are small — relatively speaking — the total amount of debt is anything but “micro” — in all, Cambodian consumers owed $8 billion in loans as of the start of 2019, and the situation is teetering on the edge of becoming a full-blown debt crisis with sharp economic and political ramifications. “It

Report 158

Report Study Industry Marketing 158

CFPB Monitor

JANUARY 12, 2021

The CFPB created the Taskforce in October 2019 to examine ways to harmonize and modernize federal consumer financial laws. Volume II (100 pages) contains the Taskforce’s specific recommendations (which number 102) for improving and strengthening the application of financial laws and regulations. Equal access to credit.

Report 78

Report Regulation Policies Compliance 78

FICO

AUGUST 10, 2022

The removal of the mortgage market affordability test in the UK could pose challenges at a time when affordability is an important lending issue. Tue, 07/02/2019 - 02:45. Last year saw the highest level of mortgage lending the UK has seen since before the global financial crisis. Increasingly Complex Lending Challenges.

Lending 52

Lending Fraud Meeting Data 52

CFPB Monitor

OCTOBER 6, 2022

In 2019, California enacted AB 539 which, effective January 1, 2020, limited the interest rate that can be charged on loans less than $10,000 but more than $2,500 by lenders licensed under the California Financing Law (CFL) to 36% plus the federal funds rate. The identity of the real lender was not at issue.

California 78

California FDIC Analysis Utah 78

PYMNTS

JULY 8, 2019

Regulators, particularly in the nations with the largest swaths of unbanked consumers, will say it offers users no easy way to cash in, cash out or reliably spend the Libra currency. Firstly, we don’t do lending, as that would be a bad idea since we don’t know anything about it,” he pointed out. We don’t want to do this alone.

Digital Banking 176

Digital Banking Innovation Cards Lending 176

Abrigo

JUNE 16, 2016

The new guidance aligns the accounting with the economics of lending by requiring banks and other lending institutions to immediately record the full amount of credit losses that are expected in their loan portfolios, providing investors with better information about those losses on a more timely basis,” FASB Chair Russell G.

Resources 150

Resources Exercises Lending Community 150

Gonzobanker

DECEMBER 20, 2019

GonzoBankers, 2019 was a year of extremes. Third, read and enjoy the 2019 edition of the GonzoBanker Awards, our 18 th. Mark Turner, Executive Chairman of the Board, WSFS Bank – We have to give the nod to an early 2019 retirement of Turner, who had one hell of a run in 12 years at the helm of a great community and wealth bank.

Idaho 148

Idaho Conference Data Marketing 148

Lex Sokolin

DECEMBER 25, 2019

If you read anything but this newsletter, you’ve got to read: Blockchain Capital’s 2019 Year in Review Messari Research Crypto Theses for 2020 DappRadar 2019 dapp Industry Review Decentralized Finance Overview So let’s narrow our entire lens to decentralized finance. The lending product above is a bit more complicated.

blockchain 52

blockchain Bitcoin Software Lending 52

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. Visner of the National Cybersecurity Federally Funded Research and Development Center ( FFRDC ). Scott Sanborn, CEO Lending Club. You know they’re there.

Lending 131

Lending National System Management 131

CB Insights

DECEMBER 4, 2019

Through trial and error, the company has set up key financial pillars across payments, cash deposits, and lending. In March 2019, Amazon announced an integration with Worldpay , which serves as a back-end intermediary between banks and credit card companies and is one of the largest payment processors in the world. Closing thoughts.

Cards 101

Cards Lending Strategy US 101

TrustBank

DECEMBER 8, 2022

From 1990-2019, US personal saving began to trend lower, averaging only 6.4% Going back to just before the distortions created by the pandemic, in 2019 the US ranked 15 th , well behind China, Switzerland, Sweden, Mexico and Australia (1-5 respectively). There was a time, however, when Americans did save more. over that 30-year period.

US 52

US Policies Taxes Washington 52

CB Insights

FEBRUARY 1, 2019

Download the free report to learn about the biggest trends from fintech in 2018 and ones to watch for 2019. orders, or a daily average of 700,000 orders, in Q3’18, and reached 12M orders on Indonesia’s National Online Shopping Day in December. Two that are already seeing lots of activity are payments and lending.

Policies 61

Policies Lending Operations Examples 61

Fintech Labs Insights

SEPTEMBER 21, 2020

Customers: Shell, KLM, United Nations, Toyota, SITA, Lloyds Register and a range of technology startups. Funding: $2.8M (May 2019). Making it easier to comply with global regulations. 10M July 2019 $3M July 2018 $400k Aug 201. Finalists: Applied Blockchain (see pitch below), CausaLens ( pitch ). HQ: London. Founded: 2016.

Innovation 15

Innovation Fintech blockchain Capital 15

Lex Sokolin

DECEMBER 31, 2020

Decentralized Finance, Blockchain, and CBDCs Why Peer-to-Peer models fail against oligopoly, with Lending Club shutting down p2p platform, Seedrs/Crowdcube merging, and Morgan Stanley buying Eaton Vance for $7B. the Lending Clubs) end up becoming banks and seeking the thing it looked like they would disrupt. They all (i.e.,

Fintech 52

Fintech Bitcoin blockchain Google 52

Lex Sokolin

DECEMBER 31, 2020

Decentralized Finance, Blockchain, and CBDCs Why Peer-to-Peer models fail against oligopoly, with Lending Club shutting down p2p platform, Seedrs/Crowdcube merging, and Morgan Stanley buying Eaton Vance for $7B. the Lending Clubs) end up becoming banks and seeking the thing it looked like they would disrupt. They all (i.e.,

Fintech 52

Fintech Bitcoin blockchain Google 52

CFPB Monitor

JULY 1, 2020

The agencies are the Comptroller of the Currency, Farm Credit Administration, FDIC, Federal Reserve Board, and National Credit Union Administration. Recently federal agencies proposed revisions to the Interagency Questions and Answers Regarding Flood Insurance. Mandatory Civil Money Penalties.

Policies 60

Policies Security FDIC National 60

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