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

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

CFPB Monitor

JUNE 15, 2021

The CFPB has published its Spring 2021 rulemaking agenda as part of the Spring 2021 Unified Agenda of Federal Regulatory and Deregulatory Actions. The comment period closed on May 19, 2021. The debt collection rule (Parts I and II) is scheduled to take effect on November 30, 2021.

Regulation 78

Regulation FDIC Lending Data 78

Perficient

FEBRUARY 16, 2022

Over the last 90 days, we have let clients know about the federal banking regulators planned cryptocurrency road map , explained what steps national banks need to take to begin crypto activities , provided thoughts on the possibility of a U.S. Although not stated, FDIC insurance of stablecoin deposits would almost have to be required.

New York 294

New York cryptocurrency Security FDIC 294

Cisco

JULY 12, 2022

A number of our financial institution customers are regulated by multiple, and different, regulatory bodies. The 2021 Updates in the Architecture, Infrastructure, and Operations book. The Federal Financial Institutions Examination Council—or better known as the FFIEC—is a formal U.S. In the U.S. Hardware and Software Lifecycles.

Regulation 71

Regulation FDIC System Software 71

CFPB Monitor

DECEMBER 18, 2020

The Attorneys General of California, Illinois, and New York have filed a motion for summary judgment in their lawsuit filed against the Office of the Comptroller of the Currency (OCC) to enjoin the OCC’s final rule purporting to override the Second Circuit’s Madden decision as to national banks and federal savings associations.

FDIC 78

FDIC District of Columbia North Carolina New Jersey 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

CFPB Monitor

FEBRUARY 19, 2021

The Attorneys General of California, Illinois, and New York have filed their opposition to the OCC’s cross-motion for summary judgment in their lawsuit to enjoin the OCC’s final rule (Rule) purporting to override the Second Circuit’s Madden decision as to national banks and federal savings associations.

FDIC 78

FDIC National Illinois Exercises 78

CFPB Monitor

JANUARY 5, 2021

federal district court to block the OCC from granting a national bank charter to Figure Technologies Inc. federal district court challenging the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies. The Conference of State Bank Supervisors (CSBS) has filed a lawsuit in D.C.

Conference 78

Conference Technology District of Columbia FDIC 78

CFPB Monitor

JANUARY 19, 2022

federal district court in December 2020 seeking to block the OCC from granting a national bank charter to Figure Technologies Inc. The lawsuit represented the CSBS’s third challenge to the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies or to uninsured deposit-taking fintechs.

Technology 78

Technology National FDIC Fintech 78

CFPB Monitor

MAY 4, 2021

federal district court seeking to block the OCC from granting a national bank charter to Figure Technologies Inc. The lawsuit represents CSBS’s third challenge to the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies. The first two lawsuits were dismissed on ripeness grounds.

Technology 78

Technology National Regulation FDIC 78

Abrigo

NOVEMBER 22, 2021

Major consumer loan compliance regulations. Major consumer loan compliance regulations cover everything from taking applications and approving or rejecting the credit to collecting payments and reporting to the government on various aspects of the loans. Regulation Z, which implements the Truth in Lending Act (TILA).

Compliance 195

Compliance Lending Risk Management Regulation 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

JANUARY 28, 2021

Comments are due on February 2, 2021. On June 25, 2020, the National Community Reinvestment Coalition (“NCRC”) and California Reinvestment Coalition filed a lawsuit against the OCC, asking a federal district court to declare the OCC’s CRA final rule unlawful and set it aside.

Community 131

Community FDIC Lending Survey 131

CFPB Monitor

NOVEMBER 29, 2021

Federal banking regulators have been busy in this space. Accordingly, “it is important that [the Agencies] provide coordinated and timely clarity where appropriate to promote safety and soundness, consumer protection, and compliance with applicable laws and regulations, including [AML] and illicit finance statute and rules.”

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

CFPB Monitor

MARCH 15, 2022

According to the complaint, in 2020 and 2021, OppFi provided documents to the DFPI in response to the DFPI’s request for information relating to its partnership with the Bank. While non-bank participants have been the focus of these state attacks, bank participants could also face increased scrutiny from their regulators.

California 78

California Innovation Utah West Virginia 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

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. Lisa Rice, President and CEO, National Fair Housing Alliance; Mr. Marc H. The witnesses included: Ms.

Community 78

Community Compliance Industry National 78

CFPB Monitor

APRIL 22, 2021

The agencies are the Comptroller of the Currency, Farm Credit Administration, FDIC, Federal Reserve Board, and National Credit Union Administration (Agencies). Comments on the new proposed Q&As are due by May 17, 2021. The proposed Q&As will supplement the proposed Q&As issued by the Agencies in July 2020.

Policies 60

Policies Compliance Meeting Regulation 60

CFPB Monitor

NOVEMBER 24, 2020

Comments on the proposal are due by January 4, 2021. The proposal’s background discussion references “Operation Choke Point, ” a federal initiative launched in 2012 involving the FDIC and other federal agencies.

Operations 78

Operations Industry Analysis Policies 78

CB Insights

DECEMBER 4, 2019

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% coming from the US by 2021 — reportedly growing at a faster rate than online retail sales. That scale would make Amazon Go a $4.5B

Cards 101

Cards Lending Strategy US 101