PYMNTS

MARCH 7, 2019

Merchants and customers are now transacting under PSD2 and GDPR in the European Union (EU) — regulations that allow a greater window into how customer data is being used. While these regulations are aimed at increasing consumer trust by allowing them more transparency, many consumers in the region are still adjusting.

Lending 198

Lending Regulation Regional Data 198

PYMNTS

DECEMBER 23, 2019

The same framework should be in place to improve technology used by regulators in efforts to strengthen supervision throughout the industry, the think tank also says. billion this year, according to the 2019 China AI Development. The risk and safety lines with AI in China in the finance sector appear to be blurring. trade war.

Regulation 202

Regulation Groups Policies Big Data 202

PYMNTS

JANUARY 2, 2020

Sezzle — a “buy now, pay later” (BNPL) company based in Minnesota, but listed in Australia — was denied a crucial lending license from California. Sezzle’s shares fell considerably on Thursday, taking the company’s worth to approximately $131 million, around 40 percent less than its worth in July 2019 during its IPO.

CA 130

CA Lending California Minnesota 130

PYMNTS

JANUARY 7, 2019

Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. Such alternative data, said the GAO, could pose risk to such lending decisions. Late last week, the U.S.

Lending 150

Lending Fintech Data Wyoming 150

PYMNTS

NOVEMBER 13, 2019

China’s regulators have revealed that the country will be moving away from setting sharp growth targets at its biggest banks, in an effort to increase lending to small businesses (SMBs). On Tuesday (Nov. On Tuesday (Nov. At the end of September, small and micro-sized business loans were at ¥36.39 trillion ($334.7 trillion, a 20.81

Lending 101

Lending Guidelines Regulation Payments 101

PYMNTS

NOVEMBER 3, 2020

3), stock exchanges in Shanghai and Hong Kong have suspended the looming IPO (initial public offering) in Ant Group, citing regulatory changes in the financial services landscape — and summoning executives including controller Jack Ma to meet with Chinese regulators at the China Securities Regulatory Commission.

Lending 199

Lending Meeting Groups Regulation 199

CFPB Monitor

JULY 8, 2019

The CFPB’s annual fair lending report covering its 2018 activities was published in today’s Federal Register. In addition to discussing the symposium and Data Point report in the section on “Access to Credit,” the new fair lending report discusses conducting supervisory reviews of alternative credit scoring models.

Lending 60

Lending Report Policies Compliance 60

PYMNTS

FEBRUARY 25, 2019

The panel, which traces its genesis back two years, is comprised of two groups, focused separately on lending and payments, and is in turn part of CSBS Vision 2020. “As We have formed a working group of state regulators to develop the model. Our FinTech industry advisory panel did include a few community banks.

Regulation 147

Regulation Fintech Community Bank Community 147

PYMNTS

OCTOBER 1, 2019

India-based financial services provider Reliance Capital has announced it will exit the lending market. 30), Reuters reported , noting that the company is struggling to overcome “collateral damage” resulting from a slowing national economic and a broader “crisis,” the publication said, in India’s lending sector.

Capital 109

Capital Lending Regulation Operations 109

CFPB Monitor

MAY 31, 2019

The Department of Education has announced the new federal student loan interest rates for 2019-2020. percent for the 2018-2019 academic year. These changes will take effect for new federal student loan borrowers after July 1, 2019. For the first time in three years, interest rates on federal student loans will decrease.

Regulation 102

Regulation Lending 102

PYMNTS

DECEMBER 24, 2019

And in a few cases, regulation has helped put the brakes on at least some deals. In another nod toward fatigue, in an interview with PYMNTS, discussing how blockchain might transform lending, Mike Cagney, CEO and co-founder of Figure Technologies said that from a high-level view, blockchain has been slow to find real use cases.

blockchain 139

blockchain Course Bitcoin Examples 139

PYMNTS

JANUARY 22, 2021

India's central bank wants stricter regulations for big shadow lenders, according to a new report from Bloomberg. The paper comes after a speech by a top RBI official in charge of banking regulation, Bloomberg writes. However, others piled on risk, he said, lending long-term loans while also raising short-term cash.

Regulation 272

Regulation Capital Lending Groups 272

PYMNTS

OCTOBER 12, 2020

regulators cracked down on the firm Oct. regulators not coming as a surprise. He said Qume’s goal, since forming early in 2019, was to build a regulatory-friendly, more decentralized experience for things like custody.

Bitcoin 261

Bitcoin Compliance Lending Regulation 261

CFPB Monitor

AUGUST 19, 2019

The California Department of Business Oversight (DBO) has issued proposed regulations to implement SB 1235 , the bill signed into law in September 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans, merchant cash advances, and factoring. Signature requirements.

Regulation 68

Regulation CA California Lending 68

American Banker

MARCH 4, 2024

Property values in that sector have tanked amid higher interest rates, inflation and 2019 revisions to state law. Long Island-based New York Community Bancorp has a large concentration in loans on New York City apartment buildings with rent restrictions.

New York City 74

New York City New York Regulation Community 74

Abrigo

NOVEMBER 8, 2019

Some financial institutions may view stress testing as a “check the box” practice to satisfy regulators, but others are making the most out of the process. Effective stress testing can benefit many different facets of lending, from risk management and strategic decision-making to capital adequacy and liquidity management. Learn More.

Lending 150

Lending Risk Management Analysis Capital 150

PYMNTS

JANUARY 9, 2020

China’s peer-to-peer (P2P) lending market is headed for more turbulence in 2020 as more of its popular platforms face potentially being shut down as the government tightens regulatory reins. Gansu, Hebei, Hunan, Chongqing and Sichuan were among Chinese provinces ordering a total shutdown of P2P lending in 2019.

Lending 131

Lending Regulation Capital Industry 131

PYMNTS

FEBRUARY 7, 2019

The next chapter in the ongoing saga that is payday loan regulation officially began yesterday (Feb. 6), with the announcement that the Consumer Financial Protection Bureau (CFPB) will overhaul a series of 2017 payday loan regulations, set to go into effect in August 2019. The Tumultuous Response.

Lending 100

Lending Regulation Online Leadership 100

PYMNTS

FEBRUARY 26, 2020

After a reporting error that caused the exit of its chief executive and chairman in 2019, Metro Bank has announced that it is scaling back its expansion efforts and moving away from lending for mortgages, according to a report by the Financial Times. After the error was revealed, the bank was forced to raise $484 million in new shares.

Metro 187

Metro Report Lending Regulation 187

PYMNTS

MARCH 25, 2019

A federal judge late last week ordered a stay on the August 2019 compliance date tied to the “ payday lending rule ” mandated roughly two years ago by the Consumer Financial Protection Bureau (CFPB). Those firms, noted The Chicago Sun Times , would still be subject to federal laws (and possible prosecution under those laws).

Lending 128

Lending Illinois Compliance Chicago 128

PYMNTS

APRIL 29, 2019

With first-quarter earnings reports rolling out, it’s time to take a look at the state of small businesses and how they fared for the first three months of 2019. With Standish Mellon Chief Economist Vincent Reinhart expecting the U.S.’ Beyond the U.S. , billion lent to SMBs in the quarter.

Lending 168

Lending Michigan Community National 168

PYMNTS

FEBRUARY 11, 2019

As the payments landscape evolves and becomes ever more digital in scope, and as FinTech firms make inroads into traditional financial services, regulators are looking at FinTech credit — and how it might be defined and shaped. There seem to be no easy answers on just how to regulate the space. trillion.

Fintech 195

Fintech Lending Regulation Survey 195

PYMNTS

OCTOBER 9, 2020

million in seed funding to disrupt payday lending schemes and help gig workers and freelancers get paid instantly. A 2019 PYMNTS report indicated that the majority of gig workers would jump platforms and work more in exchange for faster payments. . “We New York City-based FinTech startup Clair has raised $4.5

New York City 254

New York City Lending New York Fintech 254

PYMNTS

FEBRUARY 23, 2020

The banking firm has been talking with London regulators about the idea, according to The Financial Times on Saturday (Feb. The operation will likely include savings and lending products, and it comes just two years after U.S. JPMorgan Chase tapped an ex-regulator , Clive Adamson, to head up the efforts to launch the digital bank.

Digital Banking 255

Digital Banking Lending Regulation Operations 255

Abrigo

SEPTEMBER 2, 2020

The PPP might have been the first time many community financial institutions saw such clear returns on digitization investments, but the same automation and efficiency gains can be found in other end-to-end lending solutions. Community financial institutions' experience with PPP technology also translates to other areas of lending.

Lending 259

Lending Community San Antonio Survey 259

CFPB Monitor

SEPTEMBER 14, 2020

The report discusses the Bureau’s examinations in the areas of consumer reporting, debt collection, deposits, fair lending, mortgage servicing, and payday lending that were completed between September 2019 and December 2019. Violations of Regulation E requirements regarding qualifying notices of EFTA errors.

Lending 78

Lending Report Regulation Exercises 78

CFPB Monitor

DECEMBER 4, 2019

The Department of Defense announced in its Fall 2019 rulemaking agenda that it is engaged in proposed rulemaking to amend its Military Lending Act (MLA) regulations, apparently in order to allow non-bank creditors to provide secured auto financing for purchase transactions. (The How did we get here?

Regulation 88

Regulation Security Lending Course 88

PYMNTS

JANUARY 25, 2021

In today’s top payments news around the world, India’s central bank wants stricter regulations for big shadow lenders, while global foreign direct investment (FDI) dropped last year and the pandemic will continue to impact it this year. The central bank of India wants more stringent regulations for large shadow lenders.

United States 217

United States Regulation Payments Lending 217

PYMNTS

AUGUST 12, 2020

regulators, a move that would put the firms into conflict with secrecy laws in China. ” Lufax , which hopes to raise $3 billion with its IPO, has shifted away from peer-to-peer lending to focus on wealth management and retail lending. stock exchanges will have to conform to U.S. auditing standards by the end of next year.

US 147

US United States Lending Regulation 147

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 4011 – Temporary Lending Limit Waiver. Section 4008 – Debt Guaranty Authority.

Regulation 122

Regulation United States Community Bank National 122

Abrigo

SEPTEMBER 2, 2020

The PPP might have been the first time many community financial institutions saw such clear returns on digitization investments, but the same automation and efficiency gains can be found in other end-to-end lending solutions. Community financial institutions' experience with PPP technology also translates to other areas of lending.

Lending 195

Lending Community San Antonio Survey 195

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

FICO

APRIL 28, 2020

The winners of the 2019 FICO® Decisions Awards can now be formally announced. The 2019 FICO Decisions Award winners have demonstrated what is possible with a clear business objective, innovative use of technology and a great partnership. We thank the 2019 judges for their help in identifying the best nominations.

Analytics 52

Analytics Fraud Management Innovation 52

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

CFPB Monitor

FEBRUARY 18, 2020

The report discusses the Bureau’s examinations findings in the areas of debt collection, mortgage servicing, payday lending, and student loan servicing that were completed between April 2019 and August 2019. The Bureau considered these phone conversations to be loss mitigation applications under Regulation X.

Lending 78

Lending Regulation System Compliance 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

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