ABA Community Banking

DECEMBER 1, 2020

FDIC-insured banks and savings institutions earned $51.2 billion in the third quarter of 2020, a 10.7% decline from the year prior, but a significant improvement from the first half of the year, the FDIC reported today in its Quarterly Banking Profile.

FDIC 64

FDIC Community Bank Community Report 64

Jeff For Banks

JANUARY 14, 2021

In June of 2008 I gave a speech titled "The Death of the Community Bank" and in that speech I made predictions. Much like the General Store fell victim to the supermarket and the lumber yard fell victim to Home Depot, I predicted the community bank that did not pick targeted customer niches or develop product expertise will meet it's doom.

Community Bank 130

Community Bank Community FDIC Strategy 130

CFPB Monitor

JULY 15, 2020

When the OCC issued its final Community Reinvestment Act (“CRA”) rule on May 20, 2020, the agency acted alone without waiting to achieve consensus with the FDIC, the agency with which the OCC had jointly issued its proposed rule. He did not provide a time table for possible rulemaking activity, however.

FDIC 78

FDIC Community Bank Community Regulation 78

CFPB Monitor

FEBRUARY 20, 2020

The OCC and FDIC announced yesterday that they have extended the 60-day comment period for their joint proposal to revise their regulations implementing the Community Reinvestment Act that was published in the Federal Register on January 8, 2020. As extended by 30 days, the comment period ends on April 8, 2020.

FDIC 78

FDIC Community California National 78

CFPB Monitor

MAY 18, 2022

After moving alone in 2020 to reform its Community Reinvestment Act (CRA) regulation, the Office of the Comptroller of the Currency (OCC) has joined the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve Board in issuing a joint notice of proposed rulemaking setting forth proposed amendments to their regulations implementing the CRA.

FDIC 78

FDIC Regulation Community Lending 78

BankInovation

OCTOBER 1, 2020

The Federal Deposit Insurance Corporation (FDIC) has taken steps to promote fintech partnerships and diversity and inclusion within the financial services industry, both internally at the FDIC and among the institutions it regulates, FDIC Chairwoman Jelena McWilliams said during the LendIt Fintech USA 2020 conference Wednesday.

FDIC 52

FDIC Fintech Innovation Conference 52

Perficient

DECEMBER 27, 2023

Banks must uphold responsibilities under the current Customer Due Diligence and Beneficial Ownership Rule and the other existing BSA requirements. * * Note that the AML Act of 2020 requires the issuance of changes to the Customer Due Diligence and Beneficial Ownership Rule.

Compliance 221

Compliance FDIC Regulation Fraud 221

ABA Community Banking

FEBRUARY 23, 2021

FDIC-insured banks and savings institutions earned $59.9 billion in the fourth quarter of 2020, a 9.1% billion, the FDIC reported today in its Quarterly Banking Profile. The post FDIC: Bank Profits Rise in Fourth Quarter, Full Year Income Declines appeared first on ABA Banking Journal.

FDIC 64

FDIC Report Community Bank Community 64

CFPB Monitor

MARCH 25, 2020

On March 23, 2020, the FDIC’s Office of Minority and Women Inclusion (OMWI) announced that it will request 2019 diversity self-assessments from FDIC-regulated financial institutions. The FDIC regulates insured state banks that are not members of the Federal Reserve System and insured state thrifts.

FDIC 60

FDIC Policies Regulation Training 60

CFPB Monitor

MAY 22, 2020

The OCC has issued a final rule revising its regulation implementing the Community Reinvestment Act (CRA). Although the OCC’s proposed revisions were issued jointly with the FDIC, the FDIC did not join in the final rule. The final rule applies to national banks and federal savings associations.

FDIC 78

FDIC Lending Retail Compliance 78

FICO

JANUARY 13, 2020

banking industry in the 2020. . The CFPB will issue its final debt collection rule in the fall of 2020. I predict we will see the final rule during the early portion of the 2020 NFL season. The FCC will issue updated interpretations of the Telephone Consumer Protection Act in 2020. I say Congress gets a deal done in 2020.

Policies 52

Policies Las Vegas FDIC Washington 52

CFPB Monitor

JUNE 23, 2022

Thomas is widely-viewed as the nation’s leading CRA expert and has advised federal regulators on CRA reform.

Community 78

Community FDIC Groups Regulation 78

PYMNTS

MARCH 10, 2020

Joust, which was a finalist for the 2020 SXSW Innovation Awards, said it will offer any affected users zero payment processing fees on its FDIC-insured free bank account. 4), Austin Public Health stated that ‘there’s no evidence that closing SXSW or any other gatherings will make the community safer.’

Austin 256

Austin FDIC Apple Google 256

CFPB Monitor

DECEMBER 19, 2019

The OCC and FDIC have issued a joint proposal to revise their regulations implementing the Community Reinvestment Act (CRA). Although the Federal Reserve, OCC and FDIC, are the primary CRA regulators, the Fed did not join the proposal and presumably will issue a separate proposal. On January 29, 2020, from 12 p.m.

FDIC 78

FDIC Regulation Community Retail 78

CFPB Monitor

AUGUST 20, 2020

Since early June 2020 when cries for racial justice resulted in a period of social unrest in the U.S., FFIEC : On June 5, 2020, the members of the FFIEC (FDIC, OCC, Federal Reserve Board (“FRB”), CFPB, NCUA and the State Liaison Committee) issued an unprecedented statement on the importance of financial inclusion.

Regulation 78

Regulation FDIC Community Lending 78

Jeff For Banks

AUGUST 2, 2021

2/ @Schornack The primary asset of the organization was Flagship Bank Minnesota, a Member FDIC and Equal Housing Lender with two locations in the Twin Cities Metro Area. The result was that our non-staff expenses have gone from 2012 levels of $2.4MM to 2020 at $2.7MM. million in 2020. I suggest following Andy on Twitter.

Community Bank 78

Community Bank Community Minnesota Metro 78

Jeff For Banks

DECEMBER 10, 2023

The first bank to crack the Top 5 over $50 billion did so in 2020. Although one might argue that First Citizens BancShares of Raleigh is a SIFI as it climbed to the 19th largest in the country with its Silicon Valley Bridge Bank acquisition from the FDIC, and that the FDIC designated SVB as systemically important.

Fresno 107

Fresno North Carolina Raleigh FDIC 107

CFPB Monitor

MARCH 6, 2020

Leonard is currently serving as Deputy to FDIC Chairman Jelena McWilliams and will continue in that position while serving as CFPB Acting Deputy Director. A hearty congratulations to Leonard on receiving this appointment as the “No. 2 person” at the CFPB.

New York City 78

New York City FDIC New York Regulation 78

American Banker

OCTOBER 16, 2020

First City Bank of Florida had suffered “longstanding capital and asset quality issues” that were unrelated to the pandemic, the FDIC said.

Florida 62

Florida FDIC Regulation Capital 62

PYMNTS

JANUARY 13, 2021

All eyes are on the small business community in the commercial card world as industry players increasingly explore how card products can help Main Street recovery and stay in business. According to the report, SMBs increased their use of debit cards from 34 percent in 2019 to 42 percent in 2020.

Cards 167

Cards Apple FDIC Samsung 167

Abrigo

MARCH 25, 2020

Garver Moore, Managing Director of Abrigo Advisory Services, said the regulators’ statement provided helpful communication for community financial institutions and their borrowers and members during the responsive phase of the pandemic. Fine-Tuning ALM Strategies for 2020. Modifications not automatically TDRs. Learn More.

FDIC 150

FDIC Regulation Exercises Community 150

CFPB Monitor

AUGUST 4, 2020

On May 26, 2020, the OCC issued a significantly revised Sampling Methodologies booklet to be included in the Comptroller’s Handbook. The new booklet applies to supervisory activities beginning on or after June 15, 2020.

Handbook 78

Handbook Regulation CA Exercises 78

CFPB Monitor

JUNE 15, 2020

On May 20, 2020, the OCC issued a final rule to “strengthen and modernize” its existing Community Reinvestment Act (“CRA”) regulations. On June 22, 2020, from 12:00 p.m. of Community Development Fund Advisors. to 1:00 p.m. ” In the webinar, we will be joined by special guest Kenneth H. Thomas, Ph.D., 1204, Jan.

Community 60

Community FDIC Lending Examples 60

Jeff For Banks

AUGUST 14, 2022

The FDIC's quarterly Supervisory Insights for Summer 2011 had a list! So much so that the acting Comptroller of the Currency of the prior administration, Brian Brooks, proposed a rule in November 2020 that would forbid banks to blacklist legal industries. What were disfavored industries?

Operations 78

Operations Lending FDIC Industry 78

CFPB Monitor

MARCH 30, 2020

Section 4008 of the CARES Act authorizes the Federal Deposit Insurance Corporation (FDIC) to establish a debt guarantee program to guarantee the debt of solvent insured depository institutions and depository institution holding companies. All such programs shall terminate not later than December 31, 2020.

Regulation 122

Regulation United States Community Bank National 122

Gonzobanker

MAY 4, 2020

million fundraise including community bank participants Bank of St. Elizabeth, Coastal Community Bank, First Financial Bank, Kearny Bank, Provident Bancorp and Sunwest Bank. LendingClub/Radius Bank: The acquisition of Radius Bank would bring an FDIC-approved, low-cost source of deposits and broader banking services to LendingClub.

Fintech 109

Fintech FDIC Capital Community Bank 109

CFPB Monitor

AUGUST 5, 2021

Community Reinvestment Act. Mr. Hsu referenced his previously-announced plans to rescind the OCC’s CRA rule and for the OCC to work with the FDIC and Federal Reserve Board on a joint rulemaking to “strengthen and modernize” the CRA. In 2020, the OCC launched the “Roundtable for Economic Access and Change,” known as “Project REACh.”

Data 78

Data FDIC Community Analysis 78

Jeff For Banks

DECEMBER 16, 2022

The first bank to crack the Top 5 over $50 billion did so in 2020. The bank consists of two segments: 1) the traditional community bank, and 2) CCBX, which is its Banking as a Service (BaaS) division started in 2018. Not so over the eleven years I have been keeping track. Triumph Bancorp, Inc. Nasdaq: TBK) #4. Live Oak Banchsares, Inc.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

CFPB Monitor

FEBRUARY 23, 2022

The agencies consist of the CFPB, FDIC, OCC, Federal Reserve Board, NCUA, HUD, DOJ, and FHFA. Yesterday, eight federal agencies joined together to issue an “ Interagency Statement on Special Purpose Credit Programs Under the Equal Credit Opportunity Act and Regulation B ” (Interagency Statement).

Regulation 78

Regulation Lending FDIC Compliance 78

American Banker

FEBRUARY 14, 2020

Ericson State Bank, which had been in regulators’ sights for a decade, was closed by state and federal authorities Friday. Another bank acquired all of its deposits and a fraction of its assets.

Nebraska 86

Nebraska Regulation FDIC Community Bank 86

Abrigo

JULY 20, 2021

Even if community businesses don’t end up utilizing the federally guaranteed loans , many small businesses have heard of SBA loans and want to explore them. We know 2020 stunk,” he said. “As SBA loan origination can be especially lucrative for community financial institutions now. Opportunity Ahead. 83-163, as amended).

Lending 195

Lending FDIC Capital Risk Management 195

Abrigo

JULY 20, 2021

Even if community businesses don’t end up utilizing the federally guaranteed loans , many small businesses have heard of SBA loans and want to explore them. We know 2020 stunk,” he said. “As SBA lending is especially lucrative for community financial institutions now. Opportunity Ahead. Few lenders participate in SBA 7(a).

Lending 195

Lending FDIC Capital Risk Management 195

Independent Banker

APRIL 30, 2022

Independent Banker’s annual listing top-performing community banks of 2021 alongside interviews with some of the winners. In true community bank fashion, each has its own story to tell and its own path to success. In true community bank fashion, each has its own story to tell and its own path to success. Philadelphia.

Community Bank 172

Community Bank Community Montana Taxes 172

PYMNTS

DECEMBER 20, 2018

Through gpi, SWIFT and its community have managed to radically innovate the very core of correspondent banking,” said Chief Marketing Officer Luc Meurant in a press release providing the business update, and where universal update is being targeted for 2020. In its Wednesday (Dec.

Utah 134

Utah FDIC System Retail 134

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

Abrigo

NOVEMBER 9, 2022

In many cases, financial institutions adopting CECL for the 2023 deadline are tracking ahead of where SEC registrants were as they faced a 2020 deadline. For community banks specifically, they’re already reserving for a lifetime of credit losses,” he said. They’re just doing it through the wrong mechanism.

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. The Bureau issued a NPRM in August 2021 and comments on the NPRM are due by January 6, 2022.

Lending 78

Lending FDIC Regulation Data 78