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

Abrigo

MARCH 25, 2020

Working with borrowers that are current on existing loans, either individually or as part of a program for creditworthy borrowers who are experiencing short-term financial or operational problems as a result of COVID-19, generally would not be considered TDRs,” the agencies said. Fine-Tuning ALM Strategies for 2020. Learn More.

FDIC 150

FDIC Regulation Exercises 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). And businesses that deferred moving online or had no reason to operate online have made the leap practically overnight.”. operations with a soft landing of customers to Varo.

Fintech 109

Fintech FDIC Capital Community Bank 109

CFPB Monitor

NOVEMBER 29, 2021

Distilled, Interpretive Letter #1179 confirms that the activities described in the prior interpretive letters are “legally permissible for a bank to engage in, provided the bank can demonstrate, to the satisfaction of its supervisory office, that it has controls in place to conduct the activity in a safe and sound manner.”

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

Abrigo

JUNE 4, 2019

The Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Board of Governors of the Federal Reserve System (FRB), and the Office of the Comptroller of the Currency (OCC) have put out a joint statement addressing many frequently asked questions about the new standard.

Policies 186

Policies Capital Report FDIC 186

CFPB Monitor

AUGUST 7, 2020

On July 31, 2020, the Office of the Comptroller of the Currency (OCC) approved the national bank charter application of Varo Bank, N.A., team — the first consumer fintech to receive a national bank charter. As other fintechs mature and grow nationally, the message from the federal banking system is: come on in.

Fintech 78

Fintech FDIC Utah National 78

Abrigo

NOVEMBER 29, 2021

The Consumer Financial Protection Bureau (CFPB) in 2020 ordered TD Bank, N.A. To remain competitive, some of the nations’ largest banks have introduced new products. Ally Bank has not only eliminated overdraft fees, but refunded overdraft fees between March and June 2020 as a goodwill gesture to customers challenged by the pandemic.

Community Bank 195

Community Bank Community FDIC Trends 195

Independent Banker

APRIL 30, 2022

Brazos National Bank. Douglas National Bank. FSNB, National Association. Pioneer Trust Bank, National Association. AMG National Trust Bank. HNB National Bank. The bank issued 2,182 PPP loans in 2020 and 2021. By William Atkinson. Less than $300 million. 3-yr average pre-tax ROA. Philadelphia.

Community Bank 172

Community Bank Community Montana Taxes 172

CFPB Monitor

MAY 22, 2020

The Federal Reserve, OCC, FDIC, and NCUA have issued “ Interagency Lending Principles for Offering Responsible Small-Dollar Loans.” Effective management of credit, operational, compliance, and other risks. The OCC has rescinded that bulletin and issued a new bulletin (2020-25) that reflects the new interagency guidance.

FDIC 78

FDIC Policies Lending Guidelines 78

Independent Banker

JUNE 30, 2022

Using FDIC data for 2021, we calculated a lender score out of 100 for each community bank. We worked with them with loans to buy equipment and vehicles for delivery and the beginning operational cash needs of the business,” Bunnell says. American Bank, National Association. Classic Bank, National Association. By Ed Avis.

Community Bank 172

Community Bank Community National Philadelphia 172

Abrigo

NOVEMBER 22, 2021

Takeaway 1 Risk tied to consumer lending compliance has been elevated as a result of the pandemic and associated operating challenges. In some cases, those operational challenges posed elevated risk to consumers, the CFPB said. You might also like this webinar, "Consumer Lending 101.".

Compliance 195

Compliance Lending Risk Management Regulation 195

CB Insights

DECEMBER 4, 2019

Despite charging lower fees, the company failed to gain enough traction with merchants who feared giving Amazon detailed data on their overall business operations. The 2017 FDIC National Survey of Unbanked and Underbanked Households shows: Approximately 6.5% But in October 2015, the company announced it would be shut down.

Cards 101

Cards Lending Strategy US 101

CFPB Monitor

NOVEMBER 22, 2022

While the report does not address “true lender” challenges in bank/fintech lending relationships, it does discuss the risk of “so-called ‘rent-a-charter’ schemes that market themselves as innovative fintech lending platforms, but operate with essentially the same harmful business model as a traditional payday lender.”

Fintech 78

Fintech Report Data Lending 78

CFPB Monitor

DECEMBER 8, 2022

the SEC for registered brokers or dealers) or, if Section 2 does not assign a “primary financial regulatory agency,” the FDIC. The ILCs subject to this FDIC authority would include ILCs approved for deposit insurance on or before September 23, 2021. The bill is co-sponsored by Senators Bob Casey (D-Pa.) and Chris Van Hollen (D-Md.).

FDIC 78

FDIC Company Industry Regulation 78

PYMNTS

FEBRUARY 14, 2019

The hearing itself was a small victory for proponents who wish to open up the banking system to legal pot operators. That’s because it marked the first hearing dedicated to a proposed bill in Congress that would offer financial institutions protections against federal regulators when dealing with legal cannabis operations.

Oregon 230

Oregon Colorado Operations Washington 230

PYMNTS

FEBRUARY 13, 2019

The hearing itself was a small victory for proponents who wish to open up the banking system to legal pot operators. That’s because it marked the first hearing dedicated to a proposed bill in Congress that would offer financial institutions protections against federal regulators if dealing with legal cannabis operations. Cash Dangers.

Oregon 115

Oregon Colorado Operations Washington 115

FICO

DECEMBER 19, 2018

This month, the FCC approved the creation of a National Reassigned Number Database to address the nearly 100,000 wireless numbers that are reassigned each day. While the database is not expected to be operational for several years, the FCC did provide for a safe harbor that will protect those that leverage the database from TCPA liability.

Policies 40

Policies District of Columbia Regulation California 40