CFPB Monitor

DECEMBER 8, 2022

As a result, a company that controls an institution that is not a BHCA bank is not required to register as a bank holding company with the Federal Reserve Board and, therefore, is not subject to regulation and supervision by the Federal Reserve Board. 5301) (e.g.

FDIC 78

FDIC Company Industry 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

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

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 73

Mississippi FDIC Lending Community 73

CFPB Monitor

FEBRUARY 23, 2022

Yesterday, eight federal agencies joined together to issue an “ Interagency Statement on Special Purpose Credit Programs Under the Equal Credit Opportunity Act and Regulation B ” (Interagency Statement). The agencies consist of the CFPB, FDIC, OCC, Federal Reserve Board, NCUA, HUD, DOJ, and FHFA.

Regulation 78

Regulation Lending FDIC Compliance 78

CFPB Monitor

MAY 6, 2021

The OCFR claims that the Bank’s failure to hold the required lending licenses makes the loans unenforceable and prohibits Atlanticus/Fortiva from collecting any amounts on the loans. In addition, legal challenges to the OCC and FDIC “ Madden -fix” rules and the OCC’s “true lender” rule continue to create uncertainty for participants.

Maryland 78

Maryland Lending Missouri FDIC 78

CFPB Monitor

NOVEMBER 10, 2020

The Fed, FDIC, and OCC have issued a “ Statement on Reference Rates for Loans ” that addresses replacement rates for the London Inter-Bank Offered Rate (LIBOR). In June 2020, the CFPB proposed amendments to Regulation Z to address the discontinuation of LIBOR.

Regulation 78

Regulation FDIC New York Lending 78

CFPB Monitor

JUNE 22, 2022

After announcing in 2021 their intent to work collaboratively to update the CRA regulations to achieve a more consistent framework, revisions to the CRA’s implementing regulations were recently proposed by the three U.S. banking regulators (the “2022 Joint Notice” or the “Proposal”). Performance Tests and Standards.

Regulation 78

Regulation Community Lending Retail 78

Abrigo

MARCH 17, 2022

The Stress Test Scenarios for Big Banks Are Useful for Smaller Institutions' Own Tests Banking regulators recently released the 2022 scenarios for upcoming stress tests by the biggest banks. The Federal Reserve Board, OCC, and FDIC provided two hypothetical scenarios: baseline and severely adverse. Related Subhead.

Capital 195

Capital Regulation Risk Management Community 195

Independent Banker

JULY 31, 2022

Locality Bank, a digital-first community bank serving south Florida that opened in January, is run by industry veterans with such successful track records that regulators signed off on their application for a charter in less than a year. Location: Fort Lauderdale, Fla. That’s no small feat for any de novo, especially during a pandemic.

Florida 91

Florida Community Bank Community FDIC 91

CFPB Monitor

APRIL 19, 2021

Tomorrow, April 20, the House Financial Services Committee is scheduled to mark-up a series of bills that include a bill dealing with debt collection and two bills dealing with the diversity and inclusion practices of banks and other federally-regulated entities. Debt collection.

Regulation 78

Regulation Policies FDIC Lending 78

Abrigo

MARCH 13, 2023

Historic collapse SVB is different from other financial institutions The FDIC closure and assumption of Silicon Valley Bank (SVB) – the largest bank failure since 2008 – is a stark reminder that when a crisis occurs, it can spread as fast as a wildfire in dry fields with a strong wind. Do you get that from your deposit analysis ?

Strategy 195

Strategy Lending Security Analysis 195

CFPB Monitor

DECEMBER 15, 2020

The agenda’s preamble indicates that the information in the agenda is current as of September 11, 2020 and identifies the regulatory matters that the Bureau “reasonably anticipates having under consideration during the period from November 2020 to November 2021.”. The agenda estimates pre-rule activity in March 2021.

Policies 78

Policies Regulation Data Lending 78

Jeff For Banks

AUGUST 14, 2022

The FDIC's quarterly Supervisory Insights for Summer 2011 had a list! But in January 2021, the new OCC announced it would pause the "Fair Access" rule that was intended to prevent another Operation Choke Point. Let bankers determine if lending to this industry or that is risky. What were disfavored industries?

Operations 78

Operations Lending FDIC Industry 78

CFPB Monitor

JULY 6, 2022

The preamble to the CFPB’s Fall 2021 rulemaking agenda , which represented the CFPB’s first rulemaking agenda under Director Chopra, indicated that it was not necessarily reflective of his priorities. The Bureau issued a NPRM in August 2021 and the comment period ended on January 6, 2022.

Lending 78

Lending Regulation FDIC Data 78

CFPB Monitor

NOVEMBER 22, 2022

The report was issued in response to President Biden’s July 2021 Executive Order on promoting competition. 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

Fintech 78

Fintech Report Data Lending 78

CFPB Monitor

FEBRUARY 19, 2021

The OCC must file its reply to the AG’s opposition to its summary judgment motion by February 25, 2021, and a hearing on the summary judgment motions is scheduled for March 14, 2021. The OCC only has authority to regulate the conduct of banks. We will report ensuing developments.

FDIC 78

FDIC National Illinois Exercises 78

CFPB Monitor

JANUARY 28, 2021

The OCC’s recent proposed rule that seeks public comment on evaluation measure benchmarks, retail lending distribution test thresholds, and community development minimums under the new general performance standards – which is more fully explained below – also must be finalized before the OCC can fully implement the CRA final rule.

FDIC 131

FDIC Community Lending Survey 131

CFPB Monitor

APRIL 1, 2021

In what could be an important step towards needed regulatory updating to accommodate the growing use of artificial intelligence (AI) by financial institutions, the CFPB, FDIC, OCC, Federal Reserve Board, and NCUA issued a request for information (RFI) regarding financial institutions’ use of AI, including machine learning (ML). Fair lending.

Risk Management 78

Risk Management Training Lending FDIC 78

Jeff For Banks

JUNE 2, 2023

The old borrow short, lend long strategy. I want to read to you the FDIC’s conclusion from their An Examination of the Banking Crisis of the 1980’s and Early 1990’s. Third, the regulators need adequate financial resources. My lesson learned to the regulators, read your past lessons learned. credit default swaps anyone?).

FDIC 78

FDIC Community Bank Regulation Lending 78

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. Consolidated supervision will help ensure risks do not build outside of the sight and reach of federal regulators.

Technology 78

Technology National FDIC Fintech 78

PYMNTS

AUGUST 4, 2020

In an announcement, the bank said it would work with Google to debut a co-branded, FDIC-insured, digital-only bank account next year. To that end, BBVA was one of six banks that said on Monday (Aug. According to Khwaja, the digital shift is here to stay.

Google 298

Google Digital Banking Course Branding 298

CFPB Monitor

JULY 6, 2020

The agenda’s preamble indicates that the information in the agenda is current as of March 5, 2020 and identifies the regulatory matters that the Bureau “reasonably anticipates having under consideration during the period from May 1, 2020 to April 30, 2021.”. The CFPB recently proposed amendments to Regulation Z pursuant to this directive.

Regulation 78

Regulation Policies FDIC Lending 78

Jeff For Banks

DECEMBER 16, 2022

Before we begin and for comparison purposes, here are last year's top five , as measured in December 2021: #1. In 2021, the bank expensed over $530 thousand to the ESOP to benefit employees. and Puerto Rico banking laws and regulations. Silvergate Capital Corporation (NYSE: SI) #2. MetroCity Bankshares, Inc. Nasdaq: MCBS) #3.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

CFPB Monitor

NOVEMBER 24, 2020

Comments on the proposal are due by January 4, 2021. The OCC notes that, in the case of energy industries, the terminated services were not limited to lending “where risk factors might justify not serving a particular client,” but also included advisory and other services unconnected to credit or operational risk.

Operations 78

Operations Analysis Industry Policies 78

CFPB Monitor

DECEMBER 7, 2022

The hearing was held to discuss historical and ongoing discrimination in the financial services industry, and the roles of Congress and regulators in addressing these issues. The Senate Banking Committee recently held a hearing entitled, “Fairness in Financial Services: Racism and Discrimination in Banking.” The witnesses included: Ms.

Community 78

Community Compliance Industry National 78

CB Insights

DECEMBER 4, 2019

Through trial and error, the company has set up key financial pillars across payments, cash deposits, and lending. As many as 3,000 Amazon Go locations could open by 2021, according to Bloomberg. The 2017 FDIC National Survey of Unbanked and Underbanked Households shows: Approximately 6.5% Amazon Lending. Amazon Payments.

Cards 101

Cards Lending Strategy US 101