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

Abrigo

SEPTEMBER 2, 2020

The PPP might have been the first time many community financial institutions saw such clear returns on digitization investments, but the same automation and efficiency gains can be found in other end-to-end lending solutions. Community financial institutions' experience with PPP technology also translates to other areas of lending.

Lending 259

Lending Community San Antonio Survey 259

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

Abrigo

SEPTEMBER 2, 2020

The PPP might have been the first time many community financial institutions saw such clear returns on digitization investments, but the same automation and efficiency gains can be found in other end-to-end lending solutions. Community financial institutions' experience with PPP technology also translates to other areas of lending.

Lending 195

Lending Community San Antonio Survey 195

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. Credit Risk Management. Lending & Credit Risk. CRE Lending. Lending & Credit Risk. CRE Lending.

Lending 195

Lending Risk Management Management Payments 195

Abrigo

DECEMBER 2, 2021

Based on some industry trends and regulatory priorities, here are a few ideas for spending surplus budget funds to help grow your financial institution next year or mitigate risk. The influx of money from government relief programs like the Paycheck Protection Program (PPP) in 2020 and 2021 left financial institutions flush with cash.

Conference 195

Conference San Antonio Lending Fraud 195

PYMNTS

FEBRUARY 15, 2018

He said that in his own state of Washington, state regulators have been looking at those issues for some time to determine the possibility of some sort of reciprocity or sharing of information. “It The pilot being run with those initial seven states will provide some answers for how state regulators can streamline the process.

Washington 101

Washington Regulation Conference Fintech 101

CFPB Monitor

APRIL 1, 2021

Augmenting risk management and control practices. The agencies observe that the potential risks associated with using AI are not unique to AI, such as creating operational vulnerabilities and consumer protection risks (fair lending, UDAAP, privacy). Fair lending. Uses of AI.

Risk Management 78

Risk Management Training Lending FDIC 78

Independent Banker

NOVEMBER 30, 2022

In 2020, six-time World Series of Poker (WSOP) winner Daniel Negreanus moved his winnings account to Lexicon after another financial institution closed his account—a development the community bank addressed in a press release. “Our We have found a way to service that and get the regulators comfortable. A natural fit.

Las Vegas 129

Las Vegas Community Bank Community Wisconsin 129

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

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

AUGUST 5, 2020

Therefore, it’s essential that the credit memo captures the complete picture of the borrower to ensure proper risk management. Loan grading scales, weighting, and adjustment levels should be a direct reflection of the institution’s credit culture and past lending experiences – especially those painful losses, Wear explained. “I

Management 195

Management Risk Management Trends Industry 195

CFPB Monitor

AUGUST 7, 2020

The Coronavirus Aid, Relief, and Economic Security Act of 2020 (“CARES Act”) provided several forms of financial relief to businesses and individual borrowers, and some states and localities have provided similar credit accommodations. Many financial institutions have also offered voluntary credit accommodations to borrowers.

Risk Management 78

Risk Management Management Guidelines Report 78

Abrigo

NOVEMBER 13, 2023

The 2020 Interagency Guidance on Credit Risk Review Systems recommends that loan review should occur "typically annually, on renewal, or more frequently when internal or external factors indicate a potential for deteriorating credit quality or the existence of one or more other risk factors.”

Analysis 195

Analysis Lending System Survey 195

FICO

JANUARY 15, 2021

Here are the top five posts from 2020 related to the FICO Score: FICO Resilience Index Now Available For Lenders To Pilot. By studying past recessions, we know that in a down economy credit criteria goes up and access to credit goes down as lenders try to mitigate credit risk. As of July 2020, just 7.3% This is down from 8.1%

Report 59

Report Payments Cards Data 59

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

Abrigo

NOVEMBER 25, 2019

BSA Rules and Regulation. BSA Rules and Regulation. In 2020, Improve Your BSA/AML Program by Focusing on These 4 Areas. Learning about obstacles to loan deal flow. The Need for a FinCEN Database. Learn More. BSA Training. Learn More. Cannabis Banking.

Analysis 195

Analysis Training Management Industry 195

CB Insights

FEBRUARY 20, 2020

Two of these unicorns have already exited: Plaid was acquired by Visa in January 2020, and Bill.com held an IPO in December 2019. Recently, Lakala Payment has been trading at a market cap of roughly $4.5B, well above its pre-IPO valuation of $1.6B (as of February 2020). In January 2020, Visa announced a $5.3B Acquisitions.

Fintech 80

Fintech US Lending Cards 80

Abrigo

NOVEMBER 22, 2021

Consumer Lending Laws & Compliance Financial institutions offering consumer loans need to know about these major consumer lending laws and recent compliance issues. You might also like this webinar, "Consumer Lending 101.". Consumer lending compliance spotlight. Major consumer loan compliance regulations.

Compliance 195

Compliance Lending Risk Management Regulation 195

FICO

OCTOBER 20, 2022

In uncertain environments, lenders seek ways to address credit risk management gaps likely to emerge with a potential recession. Given the current economic cycle,” Shree explained, “lenders need to understand the overall lending environment. Building resilience into credit portfolios.

Strategy 52

Strategy Tools Analytics Risk Management 52

FICO

OCTOBER 20, 2022

In uncertain environments, lenders seek ways to address credit risk management gaps likely to emerge with a potential recession. Given the current economic cycle,” Shree explained, “lenders need to understand the overall lending environment. Building resilience into credit portfolios.

Strategy 52

Strategy Tools Analytics Risk Management 52

Gonzobanker

DECEMBER 17, 2021

It was a cray cray year for mergers and acquisitions (M&As) in 2021 coming out of COVID slowdown in 2020. million gets the vaunted consumer lender a much-prized bank charter, low-cost deposits to juice current earnings, and a business lending capability to drive future growth. We can’t wait to see next year’s successes.

Fintech 143

Fintech Strategy Leadership Lending 143

Abrigo

DECEMBER 19, 2019

Due to new and emerging technologies, changing regulations, and ever-evolving customer expectations, banks and credit unions across the country are taking an assortment of different strategies to achieve their growth goals in 2020. Resolve to make quicker loan decisions in 2020. Develop a disciplined loan pricing model.

Lending 195

Lending Fraud Community FDIC 195

Abrigo

SEPTEMBER 22, 2021

These changes are partly the result of CECL lessons learned since SEC registrants began presenting financial statements under the standard in 2020. Portfolio Risk & CECL. Portfolio Risk & CECL. 4 Steps for Integrating CECL and Other Risk Management Models. Top 10 CECL Lessons Learned from SEC Registrants.

Security 195

Security Examples National Report 195

Lex Sokolin

DECEMBER 31, 2020

All that partying makes us think of what an absolutely schizophrenic, psychotic bummer the year 2020 turned out to be. Welcome then, dear reader, to our 2020 retrospective. A long take that nobody in DeFi will read, but there is a deep grain of insight here about the failure of P2P lending and crowdfunding models. They all (i.e.,

Fintech 52

Fintech Bitcoin blockchain Google 52

Lex Sokolin

DECEMBER 31, 2020

All that partying makes us think of what an absolutely schizophrenic, psychotic bummer the year 2020 turned out to be. Welcome then, dear reader, to our 2020 retrospective. A long take that nobody in DeFi will read, but there is a deep grain of insight here about the failure of P2P lending and crowdfunding models. They all (i.e.,

Fintech 52

Fintech Bitcoin blockchain Google 52

Independent Banker

JULY 28, 2016

The demands of managing regulatory compliance are uncontested, and depending on the disposition of the participants inside and outside of the bank, compliance management exists with varying degrees of problems and adversity. What agency is our prudential federal regulator? Do we also have a state regulator?

Compliance 70

Compliance Training Community Bank Regulation 70

CFPB Monitor

NOVEMBER 22, 2022

In particular, the report’s recommendations deserve attention because they are likely to influence future actions by the federal banking regulators and the CFPB. (The The report attributes the risk that such schemes will arise to bank/fintech relationships that “lack proper regulatory oversight or principles for responsible lending.”

Fintech 78

Fintech Report Data Lending 78

Abrigo

MAY 11, 2021

Takeaway 1 Global cash flow can provide a more holistic lending picture as lending decisions have become more complex. Many financial institutions use global cash flow analysis in their lending process. A common misstep seen in lending departments is the belief that a guarantor improves an applicant’s credit quality.

Analysis 195

Analysis Lending Taxes Comparison 195

Abrigo

SEPTEMBER 23, 2020

This need to manage what’s expected to be a large volume of loan modifications is just the latest complexity for lenders in 2020. This is a critical aspect of managing loan workouts , and it is important to show regulators that the financial institution is applying the loan modification process fairly to borrowers.

Management 195

Management Lending Risk Management Community 195

Abrigo

SEPTEMBER 14, 2022

Financial institutions, fintech companies, and other small business lenders will need to begin collecting a wide array of small business lending data under the Consumer Financial Protection Board’s (CFPB) proposed small business lending data collection rule. Those implementing regulations were coming. Points of Note.

Lending 195

Lending Data Regulation Community 195

Abrigo

MAY 14, 2021

You might also like this webinar on the findings of Abrigo's 2021 Business Lending Process Survey. Takeaway 1 Digital pushes in financial services are widely reported, but Abrigo's Business Lending Process Survey found many manual processes. If there was a gold medal for financial services, lenders have earned it in 2020 and 2021.

Lending 195

Lending Survey System Data 195

Fintech Labs Insights

NOVEMBER 18, 2014

brick-and-mortar footprint will fall 30% to 40% by 2020 Thoughts : I get that people like the local branch. Prediction : The amount of time spent banking online via desktop will fall 20% to 30% by 2020 Thoughts : Many people still think that "important work" requires a browser and the real estate of a 13-inch screen.

Lending 30

Lending Mobile Online Digital Banking 30

PYMNTS

DECEMBER 9, 2020

As the technology evolves and new regulations come into force, our research shows that criminals are seeking new ways to launder dirty cryptoassets” said David Carlisle, head of Policy and Regulatory Affairs at Elliptic, in the post. In other news, cryptoasset analytics firm Elliptic reported Wednesday (Dec.

Bitcoin 168

Bitcoin Report cryptocurrency Analytics 168

Gonzobanker

MAY 8, 2020

These three reasonable outcomes of the “Great Pause” recession produce some concerning results by the fourth quarter of 2020: More than 25% of these banks will have negative earnings More than 70% of banks will have return on assets of less than.25% They may be looking for a dance partner or hiding from a regulator.

Lending 104

Lending Analytics Analysis Capital 104

Abrigo

JUNE 15, 2023

billion laundered between 2015 and 2020 through the U.S. billion was laundered between 2015 and 2020 through the U.S. has lagged in passing laws and regulations preventing criminal proceeds from flowing into real estate. Takeaway 1 Real estate money laundering is a serious issue, with an estimated $2.3 real estate market alone.

Training 195

Training Regulation Compliance System 195

Perficient

MAY 17, 2022

” In March 2020, due to COVID lockdowns, the Seasonally Adjusted Annual Rate (SAAR) of auto sales collapsed to 11.4 In today’s mixed up, muddled up, shook up world, a business model that encourages — and even desires — some level of repossession can provide substantial profits to the lender (depending on state regulations).

Strategy 294

Strategy Customer Experience Study Technology 294