CFPB Monitor

SEPTEMBER 14, 2020

The CFPB has released the Summer 2020 edition of its Supervisory Highlights. The report discusses the Bureau’s examinations in the areas of consumer reporting, debt collection, deposits, fair lending, mortgage servicing, and payday lending that were completed between September 2019 and December 2019. Fair lending.

Lending 78

Lending Report Regulation Exercises 78

PYMNTS

FEBRUARY 25, 2019

The panel, which traces its genesis back two years, is comprised of two groups, focused separately on lending and payments, and is in turn part of CSBS Vision 2020. “As We have formed a working group of state regulators to develop the model. Our FinTech industry advisory panel did include a few community banks.

Regulation 147

Regulation Fintech Community Bank Community 147

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 126

Customer Experience Fintech Regional Cards 126

PYMNTS

SEPTEMBER 14, 2020

New Chinese finance rules will force Ant Group to comply with regulations to back up any payments, lending or other finances with substantial capital, according to a report from The Wall Street Journal (WSJ). trillion) in the year leading up to June 2020, according to WSJ. 1, and will have to apply for a license to do so.

Groups 161

Groups Company Regulation Lending 161

PYMNTS

JANUARY 9, 2020

China’s peer-to-peer (P2P) lending market is headed for more turbulence in 2020 as more of its popular platforms face potentially being shut down as the government tightens regulatory reins. Gansu, Hebei, Hunan, Chongqing and Sichuan were among Chinese provinces ordering a total shutdown of P2P lending in 2019.

Lending 131

Lending Regulation Capital Industry 131

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

Abrigo

OCTOBER 28, 2022

Takeaway 1 Signs point to increased loan modifications and loan workouts, and regulators have urged financial institutions to work prudently with borrowers. . Loan performance since 2020 Chart 2. Regulators foster prudent loan modifications. You might also like this video, "A look at credit risk in a rising-rate environment."

Management 195

Management Risk Management Policies Lending 195

PYMNTS

JANUARY 7, 2021

China’s Ant Group is mulling the creation of a new consumer loan unit that would allow it to continue making loans throughout the country while complying with new Chinese banking regulations. Ant Group had $263 billion in outstanding consumer loans as of June 2020. China TransInfo Technology Corp. China TransInfo Technology Corp.

Groups 141

Groups Regulation Lending Operations 141

PYMNTS

JANUARY 25, 2021

In today’s top payments news around the world, India’s central bank wants stricter regulations for big shadow lenders, while global foreign direct investment (FDI) dropped last year and the pandemic will continue to impact it this year. The central bank of India wants more stringent regulations for large shadow lenders.

United States 217

United States Regulation Payments Lending 217

PYMNTS

FEBRUARY 7, 2019

The next chapter in the ongoing saga that is payday loan regulation officially began yesterday (Feb. 6), with the announcement that the Consumer Financial Protection Bureau (CFPB) will overhaul a series of 2017 payday loan regulations, set to go into effect in August 2019. The Tumultuous Response.

Lending 100

Lending Regulation Online Leadership 100

Abrigo

APRIL 21, 2023

Focus loan reviews on risk in the portfolio Continuous loan review monitoring helps banks and credit unions ensure credit review systems support safe and sound lending. discussed how they use continuous monitoring in their efforts to ensure safe and sound lending practices.

Lending 195

Lending Risk Management Software System 195

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

NOVEMBER 10, 2020

In July 2020, the Federal Financial Institutions Examination Council issued a “ Joint Statement on Managing the LIBOR Transition.” ” The statement highlighted the financial, legal, consumer protection, and operational risks that will result from LIBOR’s expected discontinuation.

Regulation 78

Regulation FDIC New York Lending 78

PYMNTS

JANUARY 18, 2018

Regulation has undoubtedly acted as a catalyst to major financial services trends in areas like small business (SMB) lending, faster payments and, most recently, open banking and collaboration with FinTechs. According to the results, banks argue that innovation, not just regulation, is behind the wheel of progress. Optimism Up.

Regulation 156

Regulation Innovation Fintech Marketing 156

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. The American Institute of CPAs (AICPA) on Feb.

Fraud 195

Fraud Lending Taxes Regulation 195

PYMNTS

JANUARY 18, 2021

Plus, big banks’ Q4 earnings showed that the pandemic’s impact on critical lending and spending wasn’t as bad as first feared. Q4 Earnings Show Big Banks Fared OK in 2020. Ant Group Overhauling Operations to Satisfy Chinese Regulators. Biden Taps FTC’s Rohit Chopra to Head CFPB.

Payments 146

Payments Regulation Analytics Groups 146

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

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

PYMNTS

JANUARY 21, 2021

The interest rate on main refinancing operations would stay the same at 0.0 Interest rates on the marginal lending facility would remain at 0.25 The deposit facility also would stay unchanged at a negative 0.50 Regular net asset purchases under the APP will continue as long as needed.

Policies 226

Policies Operations Maine Course 226

PYMNTS

JANUARY 22, 2021

The Eurozone GDP fell in the first two quarters of 2020 and began to drop again in the fourth quarter. ECB President Christine Lagarde said that it is likely economic output fell in late 2020 and that “a decline in the fourth quarter will travel into the first quarter,” according to Bloomberg.

Data 169

Data Maine Regional Survey 169

PYMNTS

SEPTEMBER 17, 2019

While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of consumer lending. The loan amount a borrower can get from a pawnbroker is determined solely by the value of the item itself; as in most forms of short-term lending, there is no credit check.

Ohio 151

Ohio Lending Iowa South Dakota 151

PYMNTS

DECEMBER 9, 2020

Lukies said that prior to the 2008 financial crisis, regulators and the like normally left banks to their own devices, as long as they didn’t mess it up so that people couldn’t pay their bills or go shopping. But fast-forward to 2020, and the world is a very different place. Banks Let Themselves Get Left Behind.

Innovation 306

Innovation Fintech Payments Regulation 306

Abrigo

JANUARY 24, 2021

As noted above, in addition to the SBA Form 3508S form, regulators issued updated instructions and SBA Form 3508EZ, and updated instructions and SBA Form 3508. CRE Lending. Lending & Credit Risk. CRE Lending. Lending & Credit Risk. From CRE to Corporate Culture – BIG Ideas from 2020 ThinkBIG: Manage Risk.

Lending 195

Lending Risk Management Management Payments 195

Independent Banker

NOVEMBER 30, 2022

Stacy Watkins (left), president and CEO, and Hilary Nelson (right), senior vice president and director of operations and compliance, at the Las Vegas Strip. While Lexicon Bank doesn’t offer consumer or mortgage lending, it does do small business lending, which suits its market. Photo by Sammy Tillery. By Tom Groenfeldt.

Las Vegas 129

Las Vegas Community Bank Community Wisconsin 129

PYMNTS

AUGUST 19, 2019

The summary, according to the site, would direct the FCC to develop new regulations that would detail how the law may protect social media platforms as they move to take content off their sites – and to take those new regulations into account when investigating or filing suit against those firms. CFPB and Payday Lending.

social media 128

social media Regulation Lending Compliance 128

BankUnderground

JULY 29, 2020

Guerrieri, Lorenzoni, Straub and Werning (2020) argue that while the lockdown is originally an (inflationary) negative supply shock because it keeps certain types of business from operating, the balance of the effects can resemble a (deflationary) demand shock under two conditions. Real Flow Variables (Goods Demand and Supply).

Policies 106

Policies Lending System Tools 106

Abrigo

NOVEMBER 9, 2022

How has CECL implementation impacted their operations and reserves for credit losses? 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. CECL's impact on operations. Another 10% have already engaged a third party.

Survey 195

Survey Software Resources Meeting 195

PYMNTS

JULY 24, 2019

Equifax on Wednesday (July 24) reported that its second quarter 2019 operating revenue hit $880 million, up slightly from the approximately $877 million reported for the same period last year. and state regulators, although the dollar amount could change depending on how many people file claims. million, the company said.

Report 116

Report Data Analytics Lending 116

CFPB Monitor

NOVEMBER 16, 2021

The amendments require the DFS to consider the performance record of a New York-licensed mortgage banker “in helping to meet the credit needs of its entire community, including low and moderate income neighborhoods…consistent with safe and sound operation” when taking action on an application for a change in control.

New York 78

New York Community Regulation Data 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. Other things like Compound are essentially a securities lending marketplace?—?you

blockchain 52

blockchain Bitcoin Software Lending 52

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. Learn More.

Capital 248

Capital Analysis Resources Management 248

BankUnderground

APRIL 28, 2023

The reforms aimed to ensure that banks have sufficient capital resources to absorb losses and reduce the cyclical effects of bank capital (and regulation) on the supply of bank credit in stress. Additionally, regulators in various jurisdictions have been trying to create simpler (but not weaker) regulatory frameworks for small banks.

Capital 84

Capital Lending US Data 84

CFPB Monitor

SEPTEMBER 10, 2020

On September 29, 2020, from 3:00 p.m. The bill authorizes the Department of Business Oversight (“DBO”), soon to be known as the Department of Financial Protection and Innovation, to begin adopting regulations pertaining to the new licensing requirement on January 1, 2021. to 4:30 p.m. To register, click here.

California 122

California Regulation Innovation Lending 122

PopularBank

MAY 25, 2021

The panel was hosted on April 29, 2021 and brought together senior housing lending, legal and environmental experts to discuss unique challenges they faced amid COVID-19 disruption and shaping the industry’s future. Are you following current regulations? Underwriting valuation and lending requirement strategies to shift.

National 52

National Industry Lending Strategy 52

Bank Activities

JULY 5, 2022

The Aussie neobank Volt announced that it would close its deposit-taking business operations due to its failure to raise sufficient levels of capital during the pandemic. The funds were intended to support the company’s plan to write a mortgage and expand its operations.

Operations 36

Operations Regulation Lending National 36

Independent Banker

DECEMBER 31, 2021

If 2020 was the year no one expected, 2021 was a year of resetting expectations. Like most other community bankers, you spent many long nights processing Paycheck Protection Program (PPP) loans, planning how to do business in a pandemic and much more throughout 2020 and 2021. Regulators haven’t yet broached the subject with them.

Community Bank 144

Community Bank Community Lending Louisiana 144

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. A number of states have challenged these regulations.

Utah 78

Utah California FDIC West Virginia 78