CFPB Monitor

FEBRUARY 2, 2021

In a blog post published on January 28, 2021 sharing a statement sent to CFPB staff, Acting Director David Uejio announced several new priorities for the CFPB’s Supervision, Enforcement and Fair Lending Division under the Biden Administration.

Compliance 78

Compliance Leadership Lending Analysis 78

Abrigo

SEPTEMBER 14, 2022

The data is intended to help the CFPB enforce fair lending laws and could also be used by the government and small business lenders to identify the needs of businesses, said Michelle Lucci, Abrigo Regulatory Compliance Manager. Those implementing regulations were coming. So back in 2011, we understood the next logical step.

Lending 195

Lending Data Regulation Community 195

CFPB Monitor

JUNE 28, 2021

On June 23, 2021, President Biden replaced the Federal Housing Finance Agency (FHFA) Director Mark Calabria with Acting Director Sandra L. As previously reported , the CFPB delayed the mandatory compliance date of the new general qualified mortgage (QM) rule under Regulation Z, which became effective on March 1, 2021, until October 1, 2022.

Compliance 78

Compliance Leadership Regulation Report 78

CFPB Monitor

MARCH 16, 2021

Under the leadership of Acting CFPB Director Dave Uejio, the Bureau issued an interpretive rule on March 9, 2021 clarifying that the prohibition against sex discrimination under the Equal Credit Opportunity Act (“ECOA”) and Regulation B includes sexual orientation and gender identity discrimination.

Regulation 78

Regulation District of Columbia Georgia Policies 78

CFPB Monitor

JANUARY 28, 2021

With Director Kraninger having submitted her resignation to President Biden last week, the report represents the CFPB’s fifth and final semi-annual report under Director Kraninger’s leadership. The report describes the most frequently cited Regulation Z and Regulation E violations during 2019. to 1:30 p.m.

Report 78

Report Leadership Lending Regulation 78

CFPB Monitor

APRIL 20, 2022

I am concerned that TransUnion’s leadership is either unwilling or incapable of operating its businesses lawfully.”. The individual defendant served as TUI’s President from 2004 to 2021 and as TUI’s Executive Vice President thereafter. In addition to requiring payment of $13.9

Compliance 78

Compliance Leadership Report Regulation 78

PYMNTS

DECEMBER 28, 2020

Published reports indicate that China’s central bank and banking, securities and foreign-exchange regulators summoned Ant Group executives this past weekend to discuss official concerns about the firm. Reuters quoted central bank Vice Gov. Any FinTech disruptor, when it becomes so big, represents systemic risk,” he told Webster.

US 168

US Regulation Groups System 168

CFPB Monitor

MAY 17, 2021

On May 6, 2021, the CFPB’s Office of Servicemember Affairs issued its eighth annual report summarizing its activities from January 1 through December 31, 2020. The report discussed the Office’s consumer outreach and educational efforts, servicemember complaint trends, and priorities for 2021.

Report 78

Report Compliance Leadership Analysis 78

CFPB Monitor

FEBRUARY 8, 2021

On February 23, 2021, from 12:00 p.m. The final debt collection rule (Parts I and II) is effective on November 30, 2021 and the final QM rules are effective on March 1, 2021, with a mandatory compliance date of July 1, 2021 for the new general QM rule. to 1:30 p.m.

Policies 78

Policies Analysis Compliance Data 78

CFPB Monitor

FEBRUARY 10, 2021

On January 14, 2021, the NCUA and CFPB announced the agencies have entered into a memorandum of understanding relating to their joint supervision of federally insured credit unions over $10 billion in assets. The MOU adds to the current collaboration framework and does not replace existing MOUs between the agencies and state regulators.

Training 78

Training Compliance Meeting Leadership 78

CFPB Monitor

FEBRUARY 3, 2021

In a memorandum issued on January 26, 2021, President Biden has ordered the Secretary of the U.S. As a result, the 2020 Rule will likely face an uphill battle to remain intact when reviewed by new HUD leadership. The use of disparate impact analysis has also been a controversial issue for the CFPB.

Massachusetts 78

Massachusetts Leadership Analysis Community 78

CFPB Monitor

MAY 31, 2022

On May 19, 2022, the Associate Director of the Enforcement and Compliance Division of the Financial Crimes Enforcement Network (“FinCEN”), Alessio Evangelista, spoke at the Chainalysis Links Conference in New York City on the topic of “The Intersection of Cryptocurrencies and National Security.” Responsible Innovation “.

cryptocurrency 146

cryptocurrency Innovation DC National 146

CFPB Monitor

DECEMBER 29, 2020

The CFPB took another significant step towards issuing regulations to implement Section 1071 of the Dodd-Frank Act by releasing the final report of the small business review panel (Panel) on the proposals the Bureau is considering for developing such regulations (Report). Financial Institutions Covered. Small Business” Definition.

Report 78

Report Leadership Meeting Industry 78

CFPB Monitor

FEBRUARY 1, 2021

Under the leadership of former Acting Director Mulvaney, the CFPB ended routine examinations for MLA compliance. Under former Director Kraninger’s leadership, the CFPB sent a proposal to Congress that would give it clear authority to conduct such examinations. Tomorrow, February 2, 2021, from 12:30 p.m. to 1:30 p.m.

Policies 78

Policies Leadership Lending Compliance 78

CFPB Monitor

NOVEMBER 22, 2021

These represent the first remarks by these regulators following the DOJ’s announcement of its major new “ Combatting Redlining Initiative ” on October 22, 2021, and it was the topic of each of their presentations. She noted that the agency will work with the CFPB, HUD, prudential regulators, and U.S. Small business lending.

Conference 78

Conference Lending Industry Regulation 78

Independent Banker

DECEMBER 31, 2021

If 2020 was the year no one expected, 2021 was a year of resetting expectations. Between a smoldering pandemic, the divisive political landscape and strong, albeit uneven, growth, there was a lot to account for in 2021, and some uncertainty remains. Regulators haven’t yet broached the subject with them. Click to enlarge.

Community Bank 144

Community Bank Community Lending Louisiana 144

CFPB Monitor

JULY 6, 2020

It represents the CFPB’s third rulemaking agenda under Director Kraninger’s leadership. These actions could include, but are not limited to, updated compliance aids, policy statements, or other guidance.”. The CFPB recently proposed amendments to Regulation Z pursuant to this directive.

Regulation 78

Regulation Policies FDIC Lending 78

Fintech Labs Insights

MARCH 15, 2024

In the fintech space, only Fintech Meetup , launched in 2021, has reached critical mass this decade. The pandemic slowed the introduction of new events. Last week’s event in Las Vegas attracted a self-reported 4,000 attendees and was the talk of the fintech pods and Substacks the last few weeks.

Conference 15

Conference Las Vegas Fintech Case Study 15

CFPB Monitor

FEBRUARY 26, 2020

The new lawsuit indicates that not only companies offering financial products structured as purchases should expect continued CFPB scrutiny under Director Kraninger’s leadership, particularly where the products are marketed to veterans, but also indicates that service providers to such companies should expect such scrutiny.

South Carolina 78

South Carolina Arkansas New York Leadership 78

FICO

JANUARY 13, 2020

While current FCC leadership has tried to address some of the other issues implicated in the 2018 decision (e.g., The laws and rules governing anti-money laundering and combating the financing of terrorism compliance have not been substantively updated since the Bank Secrecy Act was adopted in 1970. by Daniel Nestel.

Policies 52

Policies Las Vegas FDIC Washington 52

Independent Banker

JUNE 30, 2022

We had plenty of women in leadership roles; we had a couple of women on our board. To that end, she and her colleagues set up an internal focus group that met monthly, starting in January 2021. and Inclusion: The Millennial Influence,” Deloitte University Leadership Center for Inclusion, 2015. Quick Stat.

Community Bank 91

Community Bank Community Leadership Millennials 91

Gonzobanker

DECEMBER 19, 2022

As if that wasn’t enough, regulators took a sledgehammer to debit fee income with Reg II changes that will begin reducing card-not-present interchange fees starting in July 2023. In 2021, there were more than 120 fintech IPOs in the U.S., SoFI gets a commercial bank that brings deposits, compliance, AND business lending.

Community 216

Community Fintech Industry Innovation 216

Independent Banker

SEPTEMBER 30, 2021

In early 2021, a customer approached a teller at Kennebec Savings Bank in Augusta, Maine, and asked to withdraw $20,000. Another reason pen tests are increasingly common is that regulations and PCI compliance require banks to furnish annual pen test results. based security and compliance automation platform.

Community 139

Community Community Bank social media Security 139

Perficient

SEPTEMBER 2, 2022

Richard Tan Yu: Well D, after graduating as a history major in 2021, I got a job at a bank. Well, when you graduated in 2021, the Dutch Tulip craze had ended over 300 years prior. You’re known for your leadership of large money center financial firms. Futchermann will be interviewing legendary finance executive Richard Tan Yu.

blockchain 55

blockchain Customer Experience Examples Leadership 55

Cisco

OCTOBER 4, 2022

In June 2021, following large cyber attacks on the United States and the resulting Executive order on Cyber security, the FFIEC released the largest update in guidance in over a decade to help financial auditors assess financial institutions. In Summary. This blog even as summary is quite long. Personally owned devices. File exchange.

Operations 118

Operations Software Risk Management Management 118

Gonzobanker

DECEMBER 14, 2023

Under Stuart’s leadership over the past 17 years, OnPoint has gone from under $2 billion in assets to knocking on the door of $10 billion, all while becoming the most recognized financial brand in the Portland market and achieving some of the industry’s best profitability in 2023. The Bank Regulator Working for Merchants Award!

Fintech 194

Fintech Community Regional Technology 194

FICO

NOVEMBER 7, 2022

US regulators seem poised to update the status quo for bank liability for authorized user/authorized push payment fraud, but just how big is the potential? You never know when you’ll get a text from your leadership about testifying in front of the Senate! Neither the banks nor the regulators disagree about the scope of the problem.

Fraud 52

Fraud US Payments South Carolina 52

FICO

JANUARY 25, 2022

As an example, almost half (43%) of respondents say they have no responsibilities beyond regulatory compliance to ethically manage AI systems that make decisions which may indirectly affect people's livelihoods. Read the full post: It’s 2021. Read the full post: Care By Volvo Approves Applications in Seconds.

Management 52

Management Analytics Data Survey 52

PYMNTS

MARCH 10, 2020

Scharf noted the recent changes to leadership, with the creation of the new chief operating officer role , where 75 percent of the operating committee being put into place is new to the firm, having joined since the beginning of 2018. Efforts to implement widespread fixes, he said, would not be complete till 2021. Separately, Rep.

North Carolina 130

North Carolina Kentucky Compliance Capital 130