Abrigo

MAY 15, 2020

As expected, bad actors are surfacing, and financial crimes divisions of community financial institutions are struggling with the realization that loans rushed through may be fraudulent. This is welcomed news for community financial institutions. Lending & Credit Risk. Member Business Lending. SBA Lending.

Lending 195

Lending Rhode Island Fraud Los Angeles 195

Abrigo

SEPTEMBER 2, 2020

Key Takeaways With more customers leveraging channels like online and mobile banking, community financial institutions are trying to solve how to maintain their hallmark community focus in an increasingly digital world. A relationship-based, community focus in a digital world. learn more.

Lending 259

Lending Community San Antonio Survey 259

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

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. This DFS action is a reminder that states continue to take action under state fair lending laws. L. §§ 296-a(1)(b) and (3).

New York 78

New York Lending Community Bank Community 78

Independent Banker

NOVEMBER 30, 2022

Community Financial Services Bank, Benton, Ky.; In our annual workplace survey, employees of ICBA’s best community banks to work for told us they benefit from engaging cultures, opportunities for advancement and innovative benefits. office opened in 2020. Clockwise from top left: Grand Ridge National Bank, Wheaton, Ill.;

Community Bank 169

Community Bank Community Montana Leadership 169

Abrigo

SEPTEMBER 2, 2020

Key Takeaways With more customers leveraging channels like online and mobile banking, community financial institutions are trying to solve how to maintain their hallmark community focus in an increasingly digital world. A relationship-based, community focus in a digital world. learn more.

Lending 195

Lending Community San Antonio Survey 195

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

DECEMBER 27, 2019

The regulators themselves can’t even find their way to agreement. Regulators would still have the discretion to alter these ratings based on the facts on the ground. Multiple community groups have argued that banks could receive CRA credit for building a sports stadium as long as it was constructed in an opportunity zone.

FDIC 117

FDIC Community Groups Regulation 117

Gonzobanker

JANUARY 17, 2020

Well GonzoBankers, the gang is back to work and we are all headed face-first into 2020 – a year with more uncertainty than most about how things will turn out. So, to get your Gonzo executive brains warmed up for a new year, I offer you 20 important banking realities for 2020 to guide your strategic execution efforts: 1.

Customer Experience 127

Customer Experience Fintech Regional Cards 127

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., While it remains to be seen whether these initiatives will be effective and produce lasting results, they represent a significant, concerted effort by financial services regulators to promote greater financial inclusion and equality.

Regulation 78

Regulation FDIC Community Lending 78

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. All such programs shall terminate not later than December 31, 2020.

Regulation 122

Regulation United States Community Bank National 122

CFPB Monitor

FEBRUARY 23, 2022

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). The agencies consist of the CFPB, FDIC, OCC, Federal Reserve Board, NCUA, HUD, DOJ, and FHFA.

Regulation 78

Regulation Lending FDIC Compliance 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

NOVEMBER 16, 2021

6247-A) to the New York Community Reinvestment Act (NYCRA) that expand the NYCRA’s coverage to non-depository mortgage lenders. The amendments allow DFS to issue regulations expanding the types of applications and notices for which it will consider such performance when taking action. Expansion of CRA coverage.

New York 78

New York Community Regulation Data 78

South State Correspondent

APRIL 23, 2023

Analysts, regulators, legislators, and bankers have been attributing the root cause of SVB’s failure in the past month. Some blame the dilution of the Dodd-Frank provisions, others the lack of oversight by regulators, and others still blame social media for exacerbating the deposit run.

Management 195

Management Security Risk Management social media 195

Independent Banker

NOVEMBER 30, 2022

When it comes to supporting outliers in the Las Vegas community, Lexicon Bank knows how to play its cards. But as a community bank that is there to serve the gaming hub of Las Vegas, Lexicon Bank welcomes these players with open arms. Photo by Sammy Tillery. By Tom Groenfeldt. Name: Lexicon Bank. Assets: $237.6 A natural fit.

Las Vegas 129

Las Vegas Community Bank Community Wisconsin 129

Abrigo

DECEMBER 2, 2021

The influx of money from government relief programs like the Paycheck Protection Program (PPP) in 2020 and 2021 left financial institutions flush with cash. Indeed, deposit levels to transaction accounts among community banks exploded 74% to $896.5 Lending & Credit Risk. Consumer Lending. Lending & Credit Risk.

Conference 195

Conference San Antonio Lending Fraud 195

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 3, 2020

A new British bank that will launch later in 2020 is aimed at securing funding for farmers, according to a report. The bank secured its license from the Bank of England’s Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). .

Security 198

Security Lending Community Regulation 198

Abrigo

FEBRUARY 5, 2021

Takeaway 1 To prevent the kind of fraud that plagued the Paycheck Protection Program in 2020, the SBA has put new measures in place that have created challenges. Takeaway 3 Meanwhile, regulators continue to reinforce the importance of lenders knowing customers and beneficial owners. Ongoing changes help. Focus remains on KYC’.

Fraud 195

Fraud Lending Taxes Regulation 195

Abrigo

FEBRUARY 8, 2022

Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. Consumers are looking for speed without the hassle of mounds of paperwork and lengthy approval processes, whether with deposit or lending accounts. Regulations & Guidance Forthcoming.

Compliance 195

Compliance Training Regulation Fraud 195

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

Abrigo

APRIL 15, 2020

Community financial institutions have worked non-stop since learning of the Paycheck Protection Program (PPP) to understand the details, take applications, and get loans through the SBA E-Tran system so that fellow business owners in their communities can retain or bring back workers. 15, 2020 rent payments on leases dated before Feb.

Lending 221

Lending Philadelphia Payments Community 221

CFPB Monitor

AUGUST 20, 2020

The CFPB has extended by 60 days the comment period for its Request for Information (RFI) on how best to create a regulatory environment that expands access to credit and ensures that all consumers and communities are protected from discrimination in all aspects of a credit transaction.

Lending 78

Lending Compliance Innovation Community 78

Jeff For Banks

AUGUST 14, 2022

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. Let bankers determine if lending to this industry or that is risky. Because we are going after "climate related businesses."

Operations 78

Operations Lending FDIC Industry 78

PYMNTS

FEBRUARY 3, 2020

A new British bank that will launch later in 2020 is aimed at securing funding for farmers, according to a report. The bank secured its license from the Bank of England’s Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). .

Security 130

Security Lending Community Regulation 130

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

Abrigo

JANUARY 14, 2021

Takeaway 1 This round of PPP funding focuses on new borrowers in low- and moderate-income communities. . There is no doubt that the COVID-19 global pandemic has challenged communities across the country and has created a significant economic downturn, which has hit small businesses especially hard. SBA Lending. PPP Fraud Spikes.

Fraud 195

Fraud Compliance Community Trends 195

Abrigo

AUGUST 18, 2020

The government was quick to roll-out PPP loans to offer relief to small businesses and communities. Ensure the business was established prior to February 15, 2020. BSA officers should complete regular suspicious activity monitoring on these loans and f ollow the use of funds. “If Lending & Credit Risk. Learn More.

Fraud 195

Fraud Lending Trends Compliance 195

PYMNTS

AUGUST 19, 2019

As noted last week, the draft order, which was seen and reported by CNN , would place the Federal Communications Commission (FCC) in charge of how marquee names such as Facebook and Twitter show what is on their sites. CFPB and Payday Lending. August 19 is here, and a deadline comes and goes. District Judge Lee Yeakel.

social media 128

social media Regulation Lending Compliance 128

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

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. Regulators, investors, and other stakeholders will be watching and listening for updates on the impacts of the accounting change. Ours said Summit Community ran into that issue. Get started.

West Virginia 195

West Virginia Virginia Data Community 195

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.,

Community 60

Community FDIC Lending Examples 60

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. In her letter , Linda Lacewell, the DFS superintendent, said she expected regulated depositories under DFS supervision to: 1.

Lending 78

Lending Regulation Community National 78

Abrigo

JULY 30, 2020

Regulators will have elevated interest in credit risk and the resulting impact in the months ahead. Meanwhile, recognizing that other financial institutions are vital to their own communities, regulators also have a long history of requiring various stress tests on individual risk areas of other institutions. Learn More.

Capital 248

Capital Analysis Resources Management 248

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

Abrigo

JUNE 1, 2020

The last three months have brought Chief Financial Officers at community financial institutions an influx of new considerations, work responsibilities, and challenges. Rather, financial institutions that adopted CECL as of Q1 2020 have an option to delay the presentation of the impact of CECL on their financial statements.

Analysis 195

Analysis Trends Data Report 195