CFPB Monitor

MAY 26, 2021

The FDIC has filed a motion for summary judgment in the lawsuit filed by the Attorney Generals of six states and District of Columbia to set aside the FDIC’s “ Madden -fix” rule. The filing also includes the FDIC’s opposition to the summary judgment motion filed by the AGs.

FDIC 78

FDIC District of Columbia Regulation California 78

Abrigo

AUGUST 6, 2021

How can community financial institutions thrive in 2021? according to FFIEC and FDIC data. Community Bank Outlook: Challenges and Opportunities in 2021 and Beyond. The post Community Bank Outlook: Challenges and Opportunities in 2021 and Beyond appeared first on Abrigo. Lending & Credit Risk. Loan Origination System.

Community Bank 195

Community Bank Community Kansas City Lending 195

CFPB Monitor

JULY 23, 2021

The FDIC has filed its reply in support of its motion for summary judgment in the lawsuit filed by a group of state attorneys general to set aside the FDIC’s “ Madden -fix” rule. The reply responds to the AGs’ opposition to the FDIC’s summary judgment motion. Oral argument on the motions is scheduled for August 6, 2021.

FDIC 78

FDIC California Compliance Tools 78

CFPB Monitor

MAY 11, 2021

The FDIC’s settlement with Umpqua Bank announced yesterday involved collection practices connected with commercial equipment financing offered by the bank’s wholly-owned subsidiary. First, it is an example of the FDIC taking a UDAP enforcement action based on collection practices, which has not been a common theme of FDIC actions in the past.

FDIC 78

FDIC Lending Trends Regulation 78

CFPB Monitor

DECEMBER 28, 2020

The FDIC has issued a final rule setting forth the conditions it will impose and the commitments it will require to approve a deposit insurance application from an industrial bank or industrial loan company (collectively, ILC) whose parent company is not subject to consolidated supervision by the Federal Reserve Board (FRB).

FDIC 78

FDIC Industry Policies Company 78

ABA Community Banking

MARCH 1, 2022

FDIC-insured banks and savings institutions earned $63.9 billion in the fourth quarter of 2021, a 7.4% billion, the FDIC reported today in its Quarterly Banking Profile. The post FDIC: Bank Profits Rise in Fourth Quarter, Full Year appeared first on ABA Banking Journal.

FDIC 64

FDIC Report Community Bank Community 64

ABA Community Banking

SEPTEMBER 8, 2021

FDIC-insured banks and savings institutions earned $70.4 billion in the second quarter of 2021, a 281% increase from a year ago, the FDIC reported today in its Quarterly Banking Profile. The post FDIC: Bank Profits Increase 281% in Second Quarter appeared first on ABA Banking Journal.

FDIC 59

FDIC Report Community Bank Community 59

CFPB Monitor

DECEMBER 14, 2021

The CFPB has published its Fall 2021 rulemaking agenda as part of the Fall 2021 Unified Agenda of Federal Regulatory and Deregulatory Actions. Those items remained inactive throughout former Director Kraninger’s tenure and continue to be listed as inactive for purposes of the Fall 2021 agenda.

Lending 78

Lending FDIC Regulation Data 78

CFPB Monitor

APRIL 7, 2022

The FDIC has issued the March 2022 edition of Consumer Compliance Supervisory Highlights which includes a description of some of the most significant consumer compliance issues identified by FDIC examiners during consumer compliance examinations conducted in 2021. Automated overdraft programs. Fair lending.

FDIC 78

FDIC Compliance Lending Regulation 78

ABA Community Banking

MARCH 31, 2022

The FDIC said today that 99% of the banks it supervises were rated satisfactory or better for consumer compliance and Community Reinvestment Act compliance, as of the end of 2021. The post 99% of FDIC Supervised Banks Rated Satisfactory or Better for Consumer Compliance appeared first on ABA Banking Journal.

FDIC 59

FDIC Compliance Community Community Bank 59

ABA Community Banking

NOVEMBER 30, 2021

FDIC-insured banks and savings institutions earned $69.5 billion in the third quarter of 2021, a 35.9% increase from a year before, the FDIC reported today in its Quarterly Banking Profile. The post FDIC: Bank Profits Up in Third Quarter as Capital, Liquidity Levels Remain Strong appeared first on ABA Banking Journal.

FDIC 59

FDIC Capital Report Community Bank 59

CFPB Monitor

MARCH 17, 2021

On March 15, 2021, the FDIC’s Office of Minority and Women Inclusion (OMWI) released a Financial Institution Letter regarding diversity self-assessments. The FDIC’s request mirrors those by shareholder activists to obtain greater disclosure from corporate boards on the efficacy of their diversity programs.

FDIC 78

FDIC CA Policies Compliance 78

ABA Community Banking

MAY 26, 2021

FDIC-insured banks and savings institutions earned $76.8 billion in the first quarter of 2021, a 315.3% increase from a year ago, the FDIC reported today in its Quarterly Banking Profile. The post FDIC: Bank Profits Strong in First Quarter Amid Economic Recovery appeared first on ABA Banking Journal.

FDIC 52

FDIC Report Community Bank Community 52

Jack Henry

DECEMBER 9, 2021

A September 2021 publication from the FDIC sheds light on the various reasons community banks have for investing in their digital strategies (shown in Figure 1).

Strategy 148

Strategy Digital Strategies FDIC Community Bank 148

CFPB Monitor

JUNE 23, 2021

Oral argument on the motions was scheduled for May 7, 2021 but on May 6, the Clerk issued a notice vacating the hearing without setting a new date. In opposing the FDIC’s summary judgment motion, the AGs’ primary arguments are: The FDIC rule is not entitled to deference because Section 27 of the Federal Deposit Insurance Act (12 U.S.C.

FDIC 78

FDIC California 78

CFPB Monitor

DECEMBER 22, 2020

The FDIC has issued a final rule that establishes a new framework for analyzing whether deposits made through deposit arrangements qualify as “brokered deposits” and amends the methodology for calculating the interest rate restrictions that apply to less than well capitalized insured depository institutions (IDIs). Brokered Deposits.

FDIC 78

FDIC Capital National Regulation 78

Perficient

APRIL 2, 2021

The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the. Email: 2021-RFI-AI@cfpb.gov. CFPB-2021-0004 in the subject line of the message. Include Docket No.

Regulation 309

Regulation Industry Risk Management Analysis 309

American Banker

JUNE 8, 2023

The FDIC gave Cadence Bank in Mississippi the highest possible rating on its most recent Community Reinvestment Act evaluation. Cadence was the product of a 2021 merger completed just months after the acquired bank settled a federal lending discrimination case.

Mississippi 74

Mississippi FDIC Lending Community 74

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

CFPB Monitor

JULY 21, 2021

Last week, the OCC, Federal Reserve Board, and FDIC issued proposed guidance for banking organizations on managing risks associated with third-party relationships, including those with financial technology-focused entities such as bank/fintech sponsorship arrangements. On August 6, 2021 from 12:00 p.m. to 1:00 p.m.

Risk Management 78

Risk Management Management FDIC Financial Technology 78

PYMNTS

DECEMBER 16, 2020

resident and non-resident international clients of Aeldra can open an FDIC-insured U.S. The stars of financial services in 2021 will have something to do with credit,” Wain said, noting that the days of basic checking or demand draft accounts (DDA) are over. You can’t be a star with the DDA in 2021.”.

United States 168

United States FDIC California Mobile 168

CFPB Monitor

DECEMBER 2, 2020

On Monday, the FRB, FDIC, and OCC issued a “ Statement on LIBOR Transition ” that encourages banks to transition away from the London Inter-Bank Offered Rate (LIBOR) as soon as possible, and in any event by December 31, 2021. .

FDIC 78

FDIC Operations 78

CFPB Monitor

MAY 17, 2021

On May 19, 2021, the House Financial Services Committee will hold a hearing , “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions.” The scheduled witnesses are: Todd Harper, Chairman, National Credit Union Administration.

Regulation 78

Regulation FDIC National Community 78

ABA Community Banking

APRIL 6, 2022

The Treasury Department’s Community Development Financial Institutions Fund today awarded $26 million to 158 FDIC-insured banks through the fiscal year 2021 round of the Bank Enterprise Award Program. The post Banks awarded for increased investment in distressed communities appeared first on ABA Banking Journal.

Community 52

Community FDIC Community Bank Lending 52

MyBankTracker

JANUARY 19, 2021

FDIC Insurance. The FDIC was formed after the Great Depression to help restore confidence in the American banking system. Today, the FDIC continues to offer this insurance, protection up to $250,000, per account type, per depositor, at American banks. Keep in mind that FDIC insurance applies per account type and per bank.

FDIC 52

FDIC Meeting United States Nebraska 52

Perficient

FEBRUARY 16, 2022

The NY Fed conducted this research on stablecoins as the circulating supply of stablecoins jumped fivefold to nearly $130 billion (as of September 2021). Although not stated, FDIC insurance of stablecoin deposits would almost have to be required. Further Reading.

New York 294

New York cryptocurrency Security FDIC 294

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). The Joint Statement indicates that in March 2021, the FCA announced that the one-week and two-month U.S.

Regulation 78

Regulation Management FDIC Risk Management 78

Abrigo

JANUARY 4, 2023

Of that group of users, the Federal Trade Commission (FTC) reports that since the beginning of 2021 through the first quarter of 2022, more than 46,000 people have reported losing over $1 billion in crypto scams. Of course, crypto is not insured by the Federal Deposit Insurance Corporation (FDIC) and is a risky investment.

social media 195

social media Fraud cryptocurrency Trends 195

CFPB Monitor

APRIL 8, 2019

Her two-year term runs until March 31, 2021. The FFIEC chairmanship rotates among the FFIEC’s federal members for two-year terms in the following order: OCC, Federal Reserve, FDIC, CFPB, and NCUA. Kraninger succeeds FDIC Director Jelena McWilliams. Kraninger is the first CFPB Director to serve as FFIEC Chairman.

FDIC 68

FDIC System Report Company 68

CFPB Monitor

JANUARY 25, 2021

The final rule creating a new seasoned loan Qualified Mortgage was also published in the Federal Register on December 29, 2020 and scheduled to go into effect on March 1, 2021. The rule was expected to be published in the Federal Register in February 2021.). We will soon be publishing a separate blog post on the final rule.).

Policies 78

Policies FDIC Leadership Meeting 78

CFPB Monitor

FEBRUARY 19, 2021

In November 2020, the OCC, together with the FDIC and the Federal Reserve Board, issued a “ Statement on LIBOR Transition ” that encouraged banks to transition away from LIBOR as soon as possible, and in any event by December 31, 2021.

Tools 78

Tools FDIC Management Report 78

PYMNTS

MAY 4, 2020

The pandemic hasn’t been all gold for FinTech startups, though; many have had to walk back plans to go public until 2021 due to the market chaos. By partnering with a bank, users can access the service, which has debit cards and is backed by the Federal Deposit Insurance Corporation (FDIC). In February, Robinhood was ranked No.

FDIC 131

FDIC Fintech Millennials Management 131

Abrigo

JULY 20, 2021

Investors buy these loans because the interest rates are generally high compared to the risk, as the only risk the investor incurs is prepayment risk," the FDIC said in a " Supervisory Insights ” article. 2021 Business Lending Survey Results. "In the secondary market, guaranteed loans are liquid and command a premium. SBA Lending.

Lending 195

Lending FDIC Capital Risk Management 195

Abrigo

JULY 20, 2021

Investors buy these loans because the interest rates are generally high compared to the risk, as the only risk the investor incurs is prepayment risk," the FDIC said in a " Supervisory Insights ” article. 2021 Business Lending Survey Results. "In the secondary market, guaranteed loans are liquid and command a premium. SBA Lending.

Lending 195

Lending FDIC Capital Risk Management 195

Jeff For Banks

DECEMBER 10, 2023

Although the 2022 Top 5 are holding their own and two of them remain in today's Top 5, the 2021 edition included one bank that failed (SVB Financial Group) and one that is voluntarily liquidating (Silvergate). At the end of 2021, prior to the Fed starting to raise interest rates, the Bank's yield on loans was 4.99%.

Fresno 107

Fresno North Carolina Raleigh FDIC 107

CFPB Monitor

JANUARY 19, 2022

In its press release announcing the withdrawal , the OCC stated that in December 2021, Figure Technologies amended its charter application for Figure Bank, National Association, to offer FDIC-insured deposit accounts.

Technology 78

Technology National FDIC Fintech 78

CFPB Monitor

JANUARY 5, 2021

According to the complaint, Figure, through a subsidiary, is currently licensed in 49 states and the District of Columbia as a mortgage lender, consumer lender, and/or debt collector and intends to begin engaging in new money transmission activities in early 2021 through another subsidiary.

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Conference Technology District of Columbia FDIC 78