SWBC's LenderHub

FEBRUARY 4, 2021

According to a report published by CFO in Q3 2020, “For the 5,066 commercial banks and savings institutions insured by the FDIC, aggregate net income totaled $18.8 There is no doubt that financial institutions are feeling the economic fallout from the COVID-19 pandemic. billion, down $43.7 billion (70%) from a year ago.

FDIC 127

FDIC Report Marketing 127

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

DECEMBER 5, 2022

The CFPB announced last week that it has entered into a proposed settlement of the lawsuit it filed in July 2020 against My Loan Doctor, LLC (“Loan Doctor”) and its founder, Edgar Radjabli, for allegedly making false, misleading, and inaccurate representations in connection with advertising Loan Doctor’s Healthcare Finance Savings CD Accounts.

Marketing 78

Marketing FDIC Security Payments 78

MyBankTracker

NOVEMBER 19, 2020

Offers market-leading savings rates No ATM access for Savings Build and Money Market Account. CIT Bank offers an online checking account, online savings accounts, certificates of deposit (CDs), a money market account, and mortgages. CIT Bank Money Market Account. Or, use Zelle® to send and receive money.1

Banking 2020 52

Banking 2020 ATM Online Marketing 52

CFPB Monitor

JANUARY 28, 2021

The fate of the OCC’s Community Reinvestment Act (“CRA”) final rule , issued on May 20, 2020, hangs in the balance following the inauguration of President Biden on January 20 and the resignation of former Acting Comptroller Brian Brooks, who was a major proponent of the rule, on January 14.

Community 131

Community FDIC Lending Survey 131

CFPB Monitor

DECEMBER 18, 2020

The OCC has merely speculated that Madden has caused uncertainty in secondary credit markets and, in any event, application of state rate caps to non-banks does not significantly interfere with national banks’ ability to make and sell loans. White who was appointed to the federal bench in 2002 by President George W.

FDIC 78

FDIC District of Columbia North Carolina New Jersey 78

PYMNTS

JUNE 10, 2020

The company also noted that deposits are FDIC insured for a maximum of $250,000. At the time, H&R Block said the deal would bolster its small business market standing and bring about new ways for the company to expand. Wave was to keep running as an independent body inside of H&R Block per news at the time.

Management 141

Management FDIC Software Taxes 141

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.

Utah 78

Utah California FDIC West Virginia 78

CFPB Monitor

APRIL 13, 2022

These concerns are often dismissed by consumer advocates with the argument that banks and credit unions will increase their small-dollar lending if other providers leave the market due to interest rate caps. Among the services examined by the GAO in the report is small-dollar lending.

Report 78

Report Lending FDIC Regulation 78

CFPB Monitor

MAY 22, 2020

The Federal Reserve, OCC, FDIC, and NCUA have issued “ Interagency Lending Principles for Offering Responsible Small-Dollar Loans.” Marketing and customer disclosures that comply with applicable laws and regulations and provide information in a clear, conspicuous, accurate, and customer-friendly manner.”.

FDIC 78

FDIC Policies Lending Guidelines 78

PYMNTS

NOVEMBER 12, 2020

Twelve years after the housing and mortgage markets’ collapse threw the United States into financial distress not seen since the Great Depression, market watchers are again on the lookout for a possible new banking crisis spawned by upheaval in the U.S. commercial real estate sector.

New York City 227

New York City New York Missouri Philadelphia 227

CFPB Monitor

DECEMBER 21, 2021

Last week, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into a consent order with Wheels Financial Group, LLC d/b/a LoanMart, a California-based company that markets and services automobile title loans. LoanMart holds a CFL license.

California 78

California Utah FDIC Regulation 78

CFPB Monitor

NOVEMBER 17, 2020

It also alleges that in 2020, Driver Loan began taking deposits from consumers to fund its loans. Marketing its loans as having an APR of 440% when the actual APRs are about 975%. The Complaint alleges that since 2017, Driver Loan has been offering small-dollar, short- term, high-interest rate loans to consumers.

Florida 78

Florida FDIC Meeting Marketing 78

CFPB Monitor

JUNE 3, 2021

It also alleged that in 2020, Driver Loan began taking deposits from consumers to fund its loans. The CFPB alleged that the defendants engaged in deceptive practices by: Falsely representing that consumers’ deposits were held at FDIC-insured institutions and would have a guaranteed rate of return.

Florida 78

Florida FDIC Meeting Marketing 78

CFPB Monitor

NOVEMBER 10, 2020

The Fed, FDIC, and OCC have issued a “ Statement on Reference Rates for Loans ” that addresses replacement rates for the London Inter-Bank Offered Rate (LIBOR). In July 2020, the Federal Financial Institutions Examination Council issued a “ Joint Statement on Managing the LIBOR Transition.”

Regulation 78

Regulation FDIC New York Lending 78

Abrigo

NOVEMBER 29, 2021

Noninterest income associated with the housing markets such as securitization, trading, and real estate slowed significantly during the financial crisis and beyond. The Consumer Financial Protection Bureau (CFPB) in 2020 ordered TD Bank, N.A. to pay $122 million in and civil penalties and restitution to more than 1.4

Community Bank 195

Community Bank Community FDIC Trends 195

Jeff For Banks

JANUARY 14, 2021

A mid-2020 survey performed by Cornerstone Advisors showed that 51% of retail customers that opened a new bank account within the last three months did so at a large, national bank. When I made that speech in 2008, there were approximately 8,500 FDIC-insured financial institutions and today that is around 5,000, a 40% decline.

Community Bank 130

Community Bank Community FDIC Strategy 130

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 101

Fresno North Carolina Raleigh FDIC 101

Abrigo

JULY 20, 2021

B y marketing that your financial institution offers SBA loan origination, you provide additional products that expand opportunities to businesses. We know 2020 stunk,” he said. “As In the secondary market, guaranteed loans are liquid and command a premium. said now is the time for lenders to “triage” their portfolios. “We

Lending 195

Lending FDIC Capital Risk Management 195

Abrigo

JULY 20, 2021

B y marketing that your financial institution offers SBA loans, you provide additional products that expand opportunities to businesses. We know 2020 stunk,” he said. “As In the secondary market, guaranteed loans are liquid and command a premium. said now is the time for lenders to “triage” their portfolios. “We

Lending 195

Lending FDIC Capital Risk Management 195

Abrigo

OCTOBER 28, 2022

Overall, FDIC-insured commercial banks and savings institutions aren’t seeing dramatic increases in net charge-offs ( Chart 1 ) or rates related to declining asset quality ( Chart 2 ), such as past-due rates and rates for non-current loans. Loan performance since 2020 Chart 2. Charge-off, past due, and non-performing loan rates.

Management 195

Management Risk Management Policies Lending 195

CFPB Monitor

FEBRUARY 19, 2021

In a letter sent to then President-elect Biden in December 2020, House Financial Services Committee Chairman Waters called upon the Biden Administration to rescind the OCC Rule as well as the FDIC’s Madden -fix rule. Unlike contract rights, Section 85 preemption is a statutory privilege that cannot be assigned.

FDIC 78

FDIC National Illinois Exercises 78

PYMNTS

JANUARY 26, 2021

Just a few months into the partnership with Visa, which was announced in October of 2020, interest in joining the Fast Track initiative — and Ternio’s white-label services — has grown, with many firms coming to Ternio ready to start development. And they really are ready to go to market.”.

cryptocurrency 256

cryptocurrency Bitcoin blockchain FDIC 256

Gonzobanker

MAY 4, 2020

In the midst of unprecedented market volatility, recent deals and back-channel chatter illustrate that fintech demand remains high. Cornerstone Advisors’ payments guru Tony DeSanctis pointed to the unique value of Honey’s data and time to market, and I totally agree, but PayPal couldn’t build this for under $4 billion?

Fintech 109

Fintech FDIC Capital Community Bank 109

CFPB Monitor

MARCH 15, 2022

In 2019, California enacted AB 539 which, effective January 1, 2020, limited 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.

California 78

California Innovation Utah West Virginia 78

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. Rather, the focus here is on the identity of the lender in the primary market.

California 78

California FDIC Analysis Utah 78

PYMNTS

JULY 23, 2019

Such prohibition could involve limiting FDIC protections for those deposits, for example, or trying to prevent loans to those businesses. Existing law also imposes a state cultivation tax upon all cultivators on all harvested cannabis that enters the commercial market, at specified rates per dry-weight ounce of cannabis flowers and leaves.

Taxes 187

Taxes US California Idaho 187

CFPB Monitor

JUNE 15, 2021

Three significant items that were listed as “long-term actions” in the Bureau’s Fall 2020 rulemaking agenda, the last agenda issued under former Director Kraninger, no longer appear in the Spring 2021 agenda. The comment period closed on August 4, 2020. In December 2020, the Bureau released the final report of the SBREFA panel.

Regulation 78

Regulation FDIC Lending Data 78

PYMNTS

JULY 14, 2020

That alternative method of paying for purchases “on credit” got a boost with news this week that Visa Installments , a new point-of-sale (POS) credit solution, is being rolled out in pilot markets across the U.S. This follows a pilot rollout in Russia last month. Taking it from No.1 The account comes with 1.30

Lending 130

Lending FDIC Minneapolis Utah 130

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

CFPB Monitor

OCTOBER 21, 2021

The CFPB, Federal Reserve Board, FDIC NCUA, OCC, in conjunction with the state bank and state credit union regulators, jointly issued a statement on managing the transition away from LIBOR (Joint Statement). Fallback language.

Regulation 78

Regulation Management FDIC Risk Management 78

Jeff For Banks

OCTOBER 15, 2021

You've been conservative, preferring the stability and security of bank deposits versus the gyrations of the market. Sure, your home value declined, but what does that mean to someone with little to no mortgage and isn't in the market to sell? Forcing savers into equities, which has driven markets up. Taxes go down?

Taxes 78

Taxes FDIC Guidelines Policies 78

CFPB Monitor

NOVEMBER 29, 2021

President’s Working Group on Financial Markets, which delineated perceived risks associated with the increased use of stablecoins and highlighted three concerns: risks to rules governing anti-money laundering (“AML”) compliance, risks to market integrity, and general prudential risks. A “Crypto Asset Roadmap” Promising Future Clarity.

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

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? OPC formally ended in 2017.

Operations 78

Operations Lending FDIC Industry 78

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

Celent Banking

NOVEMBER 17, 2015

in 2014 and projects expansion to $35B by 2020. They also maintain that most of this growth is market expansion, not cannibalization of bank volumes. Let’s take a look at data compiled by the FDIC starting in 2010. Morgan Stanley reports that US small business direct lending grew to around $7.5B

Report 100

Report FDIC Lending Fintech 100

PYMNTS

MARCH 26, 2020

But as of 2020, it is a subject upon which seasoned experts can disagree, in a world where traditional banks and FinTechs are operating in parallel in the market – and, in many cases, are offering similar services for consumers. What we learned was interesting. And we saw the banks move pretty aggressively to try to close that gap.

Innovation 241

Innovation Fintech Data Examples 241