CFPB Monitor

OCTOBER 25, 2022

Between January 1, 2017 and December 15, 2020, it was Rhinebeck’s general policy to allow dealer markups ranging from 1.5% The dealer markup was capped at 2% after December 15, 2020. While New York’s Fair Lending Law is similar to the ECOA, DFS has viewed the rollback in federal enforcement as an opportunity to fill the void.

New York 78

New York Lending Community Bank Community 78

Abrigo

JULY 10, 2020

Community banks and credit unions partnered with their communities to help families and businesses through these unprecedented times , causing spikes in consumer fraud that must be faced head on. Lending & Credit Risk. Member Business Lending. SBA Lending. Ag Lending. CRE Lending. SBA Lending.

Fraud 195

Fraud Lending Software Analytics 195

CFPB Monitor

NOVEMBER 11, 2020

The National Association for Latino Community Asset Builders, represented by Public Citizen and the Center for Responsible Lending, filed a lawsuit against the CFPB in D.C. The 2020 Rule left the 2017 Rule’s payment provisions in place. As noted above, the 2020 Rule left the 2017 Rule’s payments provisions unchanged.

Groups 78

Groups Community Texas Lending 78

Independent Banker

NOVEMBER 30, 2021

La Plata County commissioner Marsha Porter-Norton champions First Southwest Bank’s innovative lending. First Southwest Bank is carving out new business models to address a need for credit and financial services through nonprofit lending programs and software that leverages its community development financial institution (CDFI) funding.

Colorado 119

Colorado Community Bank Community New Mexico 119

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

CFPB Monitor

MARCH 30, 2020

This section further extends to the National Credit Union Administration (NCUA) the authority to increase to unlimited the share insurance coverage it provides on any noninterest-bearing transaction accounts to federally insured credit unions. All such programs shall terminate not later than December 31, 2020.

Regulation 122

Regulation United States Community Bank National 122

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

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

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

PYMNTS

FEBRUARY 25, 2019

The Conference of State Bank Supervisors (CSBS) said earlier this month that it had put in place a set of action items to standardize the national experience of FinTechs and non-bank entities. Our FinTech industry advisory panel did include a few community banks. This is an area that we are studying.”.

Regulation 147

Regulation Fintech Community Bank Community 147

Independent Banker

AUGUST 31, 2021

This year’s winners: Left: Central Valley Community Bank, People’s Choice Award; Middle: Kennebec Savings Bank, Exceptional Community Bank Service Award; Right: Cross River Bank, Emerging Service Program Award. Exceptional Community Bank Service Award. Last year was earth-shattering in many ways. Kennebec Savings Bank.

Community Bank 196

Community Bank Community National Fresno 196

CFPB Monitor

JANUARY 19, 2022

federal district court has granted the motions filed by the CFPB and the Consumer Financial Services Association (CFSA) to dismiss the lawsuit brought by the National Association for Latino Community Asset Builders (NALCAB). (The The CFSA had intervened in the lawsuit.)

Resources 78

Resources Compliance Lending Industry 78

Independent Banker

JANUARY 31, 2022

Here’s how four community banks are thriving in this environment. The 2020 Census quantified the growth many residents were already sensing: Austin grew by 33% between 2010 and 2020, earning it the rank of fastest-growing large metro. By Mindy Charski. The Houston metro took the 10th spot with a 20.3%

Texas 182

Texas San Antonio Community Bank Community 182

Abrigo

DECEMBER 16, 2019

Key Takeaways An SEC filer with a 2020 CECL deadline recommends starting ASAP on implementation -- even if your deadline is 2023. Ours, who is Senior Vice President and Director of Credit Administration of Summit and its 32-location bank subsidiary, Summit Community Bank Inc., Ours said Summit Community ran into that issue.

West Virginia 195

West Virginia Virginia Data Community 195

CFPB Monitor

NOVEMBER 24, 2021

On November 22, 2021, the CFPB filed its seventh status report with the California federal district court hearing the lawsuit brought by the California Reinvestment Coalition, National Association for Latino Community Asset Builders, and two individual plaintiffs in 2019.

Report 78

Report California Conference Community 78

CFPB Monitor

MARCH 17, 2020

In January 2020 the Federal Housing Finance Agency (FHFA) published a request for input on Property Assessed Clean Energy (PACE) transactions involving residential property. The deadline to respond to the request was March 16, 2020. Among the various comments, a number of industry trade organizations joined in a comment letter.

Industry 78

Industry Missouri Groups Florida 78

Lex Sokolin

DECEMBER 25, 2019

As 2020 sneaks upon us, it’s the season for predictions and prognostications. Ethereum’s decentralized lending and trading are floating around 2,500 daily users. The lending product above is a bit more complicated. If you withdraw your Ether, you get charged an interest rate determined by an open governance community.

blockchain 52

blockchain Bitcoin Software Lending 52

PYMNTS

DECEMBER 27, 2019

These and other 19 th -century proto-cooperatives were the forerunners of today’s credit union (CU) community. billion) and mortgages find most credits unions on solid footing as 2020 begins. The National Credit Union Administration (NCUA) trade group reported that net income for credit unions fell by 1.1 Digital Unison.

Digital Banking 130

Digital Banking Millennials Banking Trends Mobile 130

Jeff For Banks

DECEMBER 9, 2020

On October 29, 2020, the New York State Department of Financial Services (DFS) issued a letter to all depositories and non-depositories regulated by them regarding climate change and financial risks. Now you may be in full agreement with strong-arming financial institutions to not lend to coal burning utilities.

Lending 78

Lending Regulation Community National 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

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

Gonzobanker

FEBRUARY 8, 2022

It’s been a long two years since bankers and investment bankers nationwide made their annual pilgrimage to the Arizona desert for the Acquire or Be Acquired conference – and ohhh man, a completely different world has emerged since the January 2020 get-together! Let’s put COVID aside for a minute. price/book multiple.

Fintech 167

Fintech Customer Experience Conference Technology 167

CFPB Monitor

MAY 19, 2021

The lawsuit seeks to overturn the CFPB’s July 2020 final rule (2020 Rule) that eliminated the ATR provisions but left in place the 2017 Rule’s payments provisions. The CFSA intervened in the lawsuit. He stated further that “the Bureau continues to believe that ability to repay is an important underwriting standard.

Texas 78

Texas Training Resources Community 78

CFPB Monitor

OCTOBER 20, 2021

A group of 96 organizations and individuals, who describe themselves as consisting of “consumer, labor, civil rights, legal services, faith, community and financial organizations and academics,” have sent a letter to the CFPB urging the Bureau to regulate fee-based earned wage access (EWA) products as credit subject to the Truth in Lending Act.

Regulation 78

Regulation Groups Analysis Lending 78

CFPB Monitor

MAY 22, 2020

The OCC has issued a final rule revising its regulation implementing the Community Reinvestment Act (CRA). The final rule applies to national banks and federal savings associations. The final rule is effective October 1, 2020 but sets mandatory compliance dates based on the applicable performance standards.

FDIC 78

FDIC Lending Retail Compliance 78

Independent Banker

APRIL 30, 2019

I was blown away by the incredible community banks that are featured, and I have a feeling you’ll feel the same way! Even after such a phenomenal ICBA LIVE and the ICBA Capital Summit, which may be happening as you read this, I can still draw such inspiration from our nation’s community bankers. Where I’ll be this month.

Community Bank 70

Community Bank Tampa Community Washington 70

PopularBank

OCTOBER 13, 2020

NEWARK, NJ and NEW YORK, NY – October 13, 2020 – Popular Bank , a subsidiary of Popular, Inc. NASDAQ: BPOP) and one of the nation’s premier banks, has been named a seed investor for the Newark 40 Acres and a Mule Fund (NWK FAM Fund). According to a recent study , the state experiences one of the worst racial wealth gaps in the nation.

New Jersey 52

New Jersey Community NJ New York 52

Abrigo

DECEMBER 20, 2021

As of Jun 2020, CBOT's asset size was approximately $4 billion with 35 branches. Now is the time for community financial institutions to pay attention. Community financial institutions must take note and evaluate their AML program and correct any deficiencies. A strong AML program does not mean it looks good on paper.

Resources 195

Resources Texas Analysis System 195

PYMNTS

JUNE 24, 2016

trillion in cash is projected to be in use across the EU through 2020. Online lending . The Ethereum community is, surprisingly, split on whether the exploit should be fixed. While the conventional wisdom is that consumer wall ets are slimming down so as to exclude cash, by the number s, over €2.2 That compares to €2.1

Lending 101

Lending Online South Dakota North Dakota 101

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

MAY 4, 2020

I like this bank-acquiring-fintech deal (similar to City National Bank’s August acquisition of FilmTrack and 2018 acquisition of Exactuals). million fundraise including community bank participants Bank of St. Elizabeth, Coastal Community Bank, First Financial Bank, Kearny Bank, Provident Bancorp and Sunwest Bank.

Fintech 109

Fintech FDIC Capital Community Bank 109

Abrigo

AUGUST 5, 2020

is officially in a recession, according to the National Bureau of Economic Research. The national effects remain opaque and will continue to change – do not get complacent. Solid loan grading systems must be carefully considered and defined, effectively communicated, and steadfast in both good and bad times. Learn More.

Management 195

Management Risk Management Trends Industry 195

Abrigo

FEBRUARY 8, 2022

Consumers are looking for speed without the hassle of mounds of paperwork and lengthy approval processes, whether with deposit or lending accounts. It is more important than ever that NBFIs understand the BSA/AML requirements regarding their industry to ensure the safety and soundness of their business, their communities, and our country.

Compliance 195

Compliance Training Regulation Fraud 195

PYMNTS

MARCH 30, 2020

For most SMBs , 2019 was a banner year, and 2020 was expected to be nothing less than spectacular. The boutique shops that lined Main Street USA, which got nearly all of their business face-to-face in their stores, expected that 2020 would be another great year. Consumer spending was strong, as were their household balance sheets.

Maine 232

Maine Data Capital Study 232

American Banker

OCTOBER 29, 2020

The lawsuit filed on behalf of the National Association for Latino Community Asset Builders says the rule was based on “an invented evidentiary standard,” and failed to consider consumer protections mandated by Dodd-Frank.

Groups 65

Groups Community National Lending 65

PYMNTS

MAY 16, 2016

The alternative lending market is showing signs of defeat against traditional bank loans, and SMEs are strengthening their demands for more than the typical solutions currently offered by traditional FIs. Those services include bitcoin and peer-to-peer lending, analysts said. 65% of U.K. percent of borrower applications.

Fintech 108

Fintech Lending Fraud Cards 108

Independent Banker

NOVEMBER 30, 2021

Premium benefits packages, professional development and TLC during the pandemic—this year’s winners do everything in their power to keep their community bankers happy and fulfilled. We asked both leaders and staffers to tell us what makes their community banks stand out as employers. Key Community Bank: Leading by example.

Community Bank 164

Community Bank Community Texas Leadership 164