Abrigo

MAY 19, 2023

Takeaway 2 Examining the following objectives and evaluating your loan review system based on them can ensure regulatory compliance. Systems may include components that are independent of the lending function or may place some reliance on loan officers.

System 195

System Regulation How To Lending 195

Independent Banker

JANUARY 31, 2022

“There is a lot of time and energy spent, not only making sure that credit decisions are appropriate, but also managing the compliance aspect,” Maher says. Although the surge in PPP lending highlighted a need for loans among underserved borrowers, it also has led to some creative solutions. Small dollars, big impact.

Lending 150

Lending Community Community Bank Compliance 150

Abrigo

DECEMBER 2, 2021

Takeaway 1 Some financial institutions have a budget surplus this time of year, and these funds can be spent now to help growth in 2022. Takeaway 3 Signing up for 2022 conferences is another smart use of surplus budget funds, because some events are offering early-bird discounts. Streamline and systematize loan review for 2022.

Conference 195

Conference San Antonio Lending Fraud 195

Perficient

NOVEMBER 10, 2023

Retail banks respond to the Federal Reserve’s short-term interest rate adjustments with corresponding changes in lending and deposit rates. However, in the current rising interest rate environment in the United States since 2022, loan rates have adapted more rapidly than deposit rates. bank failures but rebounded in the second quarter.

Risk Management 221

Risk Management United States FDIC Compliance 221

Perficient

APRIL 20, 2023

The Landscape According to Forbes Advisor: 2022 Digital Banking Survey , as of 2022, 78% of adults in the U.S. blockchain​, digital wallets​, money center banks​, emerging payment solutions, digital lending​, economic turmoil​, and fintech disintermediation). prefer to bank via a mobile app or website.

Marketing 294

Marketing Marketing Strategies social media Strategy 294

FICO

JANUARY 28, 2022

2022 FICO Decisions Award Winners - Decisions That Matter. I am thrilled to announce the winners of the 2022 FICO® Decisions Awards. . The class of 2022 show that analytic technologies can have a profound impact and deliver on the decisions that really matter to people. 2022 FICO Decisions Award Winners. 2022 Judges.

Meeting 52

Meeting Fraud Florida Compliance 52

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. Fair lending.

FDIC 78

FDIC Compliance Lending Regulation 78

Abrigo

MAY 19, 2023

They should be knowledgeable of both sound lending practices and their own institution’s specific lending guidelines. In addition, they should be familiar with pertinent laws and regulations affecting credit and lending activities. But what if the minimum expectations are set so high that it discourages wannabe loan reviewers?

Training 195

Training Lending Risk Management Guidelines 195

FICO

OCTOBER 6, 2021

I am excited to announce that our 2022 FICO Decisions Awards are now open! Nominations are due December 3, 2021 , and winners will be announced on January 28, 2022. Regulatory Compliance. in May 2022. For more information and to enter a nomination, visit www.fico.com/decisionsawards. Cloud Deployment. Fraud Management.

Analytics 52

Analytics Conference Compliance Management 52

CFPB Monitor

OCTOBER 4, 2021

The Texas federal district court has denied the motion of the two trade groups challenging the payment provisions in the CFPB’s 2017 final payday/auto title/high-rate installment loan rule for an extension of its stay of the compliance date until 286 days after their appeal to the Fifth Circuit is resolved.

Texas 78

Texas Groups Compliance Payments 78

Jeff For Banks

DECEMBER 16, 2022

As a point of reference, the S&P US BMI Bank Total Return Index for the five years ended December 9, 2022 was -1.21%. As of or for the year-to-date September 30, 2022, the Company had $3.1 billion in total assets at September 30, 2022, fueled by organic growth and acquisitions. Silvergate Capital Corporation (NYSE: SI) #2.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

Perficient

NOVEMBER 30, 2021

As always, the regulators’ main concern was to promote safety and soundness, consumer protection, and compliance with applicable laws and regulations, including anti-money laundering (AML) and illicit finance statutes and rules. 2022 Planned Roadmap. Ancillary custody services. Loans collateralized by crypto assets.

cryptocurrency 309

cryptocurrency Regulation Policies Compliance 309

CFPB Monitor

OCTOBER 25, 2022

Following up on a threat it made back in 2018 , the New York State Department of Financial Services (DFS) announced on October 6, 2022 that it entered into a consent order with Rhinebeck Bank (“Rhinebeck”) to settle discrimination claims involving discretionary dealer markups on retail installment contracts with minority borrowers.

New York 78

New York Lending Community Bank Community 78

Abrigo

APRIL 6, 2022

New Rule Outlines Computer-Security Incident Notification Obligations for Banks Financial institutions and their service providers should prepare to meet new computer-security notice requirements by May 1, 2022. . The new requirements become effective on April 1, 2022, but compliance is not required until May 1, 2022.

Security 195

Security Regulation District of Columbia United States 195

Abrigo

MARCH 21, 2023

4.75% over the course of 2022 and 2023. 1, 2022, to the current day. The blue line shows the effective funds rate, or the average rate at which institutions are actually lending and borrowing funds from one another. Specifically, Q1 2022 volume averaged $72.27 billion, while Q4 averaged $100.97 billion – a 39.7%

Risk Management 195

Risk Management Management Strategy Lending 195

FICO

NOVEMBER 23, 2021

FICO has announced its panel of independent judges for the 2022 FICO® Decisions Awards , which honor businesses achieving outstanding results using analytics and decision management technology to grow their business, manage risk and reduce costs. 2022 Judges (Left to Right): Sidhartha Dash, Paul Deall, Senthil Erulappan, Armando Junior.

Meeting 52

Meeting Analytics Risk Management Management 52

CFPB Monitor

OCTOBER 18, 2021

The Fifth Circuit has entered an order staying the compliance date of the payment provisions in the CFPB’s 2017 final payday/auto title/high-rate installment loan rule (2017 Rule) until 286 days after the trade groups’ appeal is resolved. Such factors include a strong showing of likely success on the merits.

Compliance 78

Compliance Groups Payments Lending 78

Gonzobanker

JUNE 14, 2023

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act. If only it were so easy.

Compliance 109

Compliance FDIC Strategy Fintech 109

CFPB Monitor

JUNE 30, 2022

On June 23, 2022, the Office of the Comptroller of the Currency (OCC) released its Semiannual Risk Perspective (SRP) for spring 2022. BSA/AML Compliance Risks. Despite these challenges, the OCC believes that “[b]anks’ financial condition remains strong and positioned to deal with the economic headwinds.”. Cybersecurity Risks.

Compliance 78

Compliance Fraud Technology Operations 78

Perficient

FEBRUARY 16, 2021

The Fed’s Comprehensive Capital Analysis and Review (“CCAR”) stress tests are designed to ensure that large banks are able to lend to households and businesses even in a severe recession. In 2020, the Federal Reserve found that large banks were generally well-capitalized under a range of hypothetical events.

Exercises 309

Exercises Capital Analysis Lending 309

Abrigo

FEBRUARY 23, 2023

According to the Federal Reserve Bank of Kansas City , community banks’ deposit market share dropped to 15% in 2022 from 22% in 2013. The best lending software for small banks, for example, is flexible enough that it can be customer-facing for only those product types the bank chooses. Check out our 1071 compliance resources.

Community Bank 195

Community Bank Kansas City Community Lending 195

CFPB Monitor

NOVEMBER 21, 2022

The CFPB has released the Fall 2022 edition of its Supervisory Highlights. Payday lenders were found to have failed to maintain records of call recordings necessary to demonstrate compliance with conduct provisions in consent orders generally prohibiting misrepresentations. Payday lenders.

Report 78

Report Cards Lending Management 78

Abrigo

MAY 18, 2023

Some additional factors to evaluate include: Reasonableness of assumptions Creditworthiness of guarantors or sponsors Sufficiency of credit and collateral documentation Proper lien perfection Proper approvals consistent with internal policies Adherence to loan agreement covenants Adequacy of and compliance with internal policies and procedures, such (..)

Lending 195

Lending Training Guidelines Policies 195

Abrigo

APRIL 21, 2023

Focus loan reviews on risk in the portfolio Continuous loan review monitoring helps banks and credit unions ensure credit review systems support safe and sound lending. discussed how they use continuous monitoring in their efforts to ensure safe and sound lending practices.

Lending 195

Lending Risk Management Software System 195

Abrigo

NOVEMBER 9, 2022

The Q1 2023 compliance date is near for smaller SEC-reporting financial institutions and private or not-for-profit banks and credit unions, and progress is decidedly mixed, according to the Abrigo 2022 CECL Survey. The 2022 Abrigo CECL Survey shows that financial institutions appear better prepared for CECL than in the past years.

Survey 195

Survey Software Resources Meeting 195

CFPB Monitor

MARCH 29, 2022

The Fifth Circuit has scheduled oral argument for May 11, 2022 in the appeal filed by the trade groups challenging the payment provisions in the CFPB’s 2017 final payday/auto title/high-rate installment loan rule.

Groups 78

Groups Compliance Payments Texas 78

South State Correspondent

JANUARY 4, 2023

A potential economic slowdown, slower rate rises, an inverted yield curve, and deposit stress likely make 2023 a trying year compared to 2022. Without the windfall of profit accrued to banks in 2022 because of faster-than-expected rate increases, banks will need to be better allocators of capital. Yeah, that was a mistake.

Community Bank 195

Community Bank Capital Training Lending 195

CFPB Monitor

AUGUST 1, 2022

The FHFA also issued a request for information (“RFI”) seeking public input on how to facilitate responsible innovation, identify barriers or challenges to implementing fintech into housing finance, support equity for homeowners and renters, and increase efficiency and effectiveness in the compliance and regulatory processes.

Financial Technology 78

Financial Technology Technology Fintech Compliance 78

FICO

MAY 2, 2023

I sat down with UK lenders in two roundtable discussions in March to explore the different approaches being taken to Consumer Duty compliance. Whilst the challenges came through loud and clear, it was also apparent that the potential upsides are clearly understood.

Compliance 52

Compliance How To Tools Strategy 52

Abrigo

JUNE 5, 2023

This report requires (and therefore improves) communication between the credit and lending area of the bank or credit union and those responsible for liquidity management. Visualizing the institution’s lending footprint can lead to improved targeting of growth areas.

Report 195

Report Risk Management Capital Data 195

CFPB Monitor

FEBRUARY 28, 2022

While the outline addresses an upcoming joint rulemaking to implement quality control requirements for AVMs, the CFPB specifically focuses on the potential for AVMs to pose fair lending risks to homebuyers and homeowners. However, automated valuation models can pose fair lending risks to homebuyers and homeowners.

Lending 78

Lending Policies System Compliance 78

Abrigo

DECEMBER 17, 2021

For banks and credit unions, this often means a deep understanding of regulations and compliance and adhering to the institution's risk management standards. Financial institutions should strive to master these three elements to build a solid foundation for successful fintech partnerships in 2022 and beyond. . Start at the Top.

Fintech 195

Fintech How To Innovation System 195

FICO

NOVEMBER 21, 2022

FICO awarded first place in six categories on risk and compliance technology in the 2023 Chartis RiskTech100 ® Report, including Innovation for the sixth year in a row. Fri, 06/03/2022 - 12:24. Mon, 11/21/2022 - 20:30. FICO is a Top 10 RiskTech Company in the 2022 Chartis RiskTech100® Report. asokolowski. by Darryl Knopp.

Report 52

Report Risk Management Compliance Analytics 52

CFPB Monitor

JUNE 21, 2022

In March 2022 the FFIEC released modified 2021 Loan/Application Registers for each HMDA reporting institution. In its press release regarding the data, the CFPB notes that “HMDA data are generally not used alone to determine whether a lender is complying with fair lending laws. percent in 2020 to 17.2 percent in 2021.

Data 78

Data Lending Compliance Regulation 78

FICO

APRIL 21, 2023

My priorities in testing the potential of UltraFICO Score with DDA attributes were speed to market, simplicity and leveraging an existing scorecard already built on the data – and it didn’t hurt that FICO was the organization that developed and branded it from a marketing, approval and compliance standpoint.

Data 52

Data Lending Trends Branding 52

CFPB Monitor

MAY 26, 2022

The new Circular (2022-03) is intended to deliver the message that: ECOA/Regulation B adverse action notice requirements apply to all credit decisions, regardless of the technology used to make them. Most notably absent from the Circular is any guidance that would assist creditors in meeting their compliance obligations.

Compliance 143

Compliance Regulation Leadership Technology 143

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). Before we begin and for comparison purposes, here are last year's top five , as measured in December 2022: #1.

Fresno 103

Fresno North Carolina Raleigh FDIC 103