CFPB Monitor

NOVEMBER 28, 2022

On November 17, 2022, the Consumer Financial Protection Bureau (“CFPB”) announced in a blog post that it is in seeking to build a new data set that “will allow for a more robust understanding of market trends” in the auto market. trillion nationally) are on pace to surpass student loans as the second-largest debt category in 2023.

Data 147

Data Marketing Lending Trends 147

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

Independent Banker

MARCH 31, 2022

From credit union overreach to onerous overregulation, the 2022/23 ICBA board of directors has plenty on its to-do list. When the 2022/23 ICBA board of directors was introduced at ICBA LIVE in San Antonio, Texas, there was a palpable sense of excitement in the air. Photos by Chris Williams. By Molly Bennett.

Community Bank 239

Community Bank Community Industry Texas 239

PYMNTS

FEBRUARY 14, 2019

set a new record, hitting $1.465 trillion, and is expected to reach $2 trillion by 2022. Alexander said the regulation would not only simplify the student loan system, but protect borrowers. In November, student loan debt in the U.S. One in five borrowers are currently in default or delinquency on their student debt.

System 140

System Regulation Analysis Policies 140

Bank Activities

JULY 5, 2022

By Zoran Temelkov July, 2022. The announcement of ceasing operations came on the 29 th of June 2022. The neobank informed its customers, around 6000, to withdraw their funds from their Volt accounts until the 5 th of July 2022. Xinja neobank was closed in 2020 due to a mismatch between interest expenses and interest income.

Operations 36

Operations Regulation Lending National 36

Perficient

JULY 11, 2022

According to a survey by Lending Tree , nearly 70% of BNPL users admit to spending more on purchases when BNPL is an option than they do if they have to pay for everything upfront, bringing up the average value per order and resulting in higher profits for participating merchants.

Fintech 474

Fintech Trends South Dakota Apple 474

Cisco

JUNE 7, 2022

In between these events, a different crisis began in the US sub-prime lending market. The FS-ISAC’s predictions for 2022 and beyond reflect the challenging cyber risk environment for financial institutions: Nation-state cyber campaigns will mirror geopolitical tensions. Regulators will tighten the reins. Takes Partners.

Risk Management 118

Risk Management Management Cyber Security Handbook 118

Independent Banker

FEBRUARY 28, 2023

Williams (second from left) with ICBA’s 2022/23 executive committee, including outgoing chairman Brad Bolton, at ICBA LIVE 2022 in San Antonio. So, he joined a training program at what was then Citizens & Southern National Bank, once the largest bank in the southeastern U.S.,

Community 172

Community Community Bank Georgia San Antonio 172

Abrigo

FEBRUARY 24, 2022

Regulators expect a well-managed financial institution to look at interest rate risk through two different lenses: Earnings at risk (EAR)/income at risk (IAR) – Measures short-term risk; changes to the income statement. Top 5 ALM Best Practices for 2022. Lending & Credit Risk. Sources of interest rate risk. Whitepaper.

Management 195

Management Analysis Strategy Policies 195

PYMNTS

OCTOBER 9, 2018

” “There is no doubt that the lease accounting standards will add new complexities to a broad range of business functions, including sales, lending, contracting and financial reporting,” wrote Whitney Schiffer, CPA, in an article last week for accounting and advisory firm Berkowitz Pollack Brant.

Community Bank 153

Community Bank Community Report Lending 153

Gonzobanker

MAY 4, 2022

The 2022 survey produced the biggest one-year change we have ever seen. Regulations – The practical application of regulations to specific situations at the institution requires deep “inside” knowledge. A focused plan for the development of next generation talent is no longer optional. And they vary by FI.

Training 154

Training Survey System Data 154

Abrigo

DECEMBER 20, 2021

If your CDD program is not intact, now is the time to tighten things up and watch for new regulations. and CDD will be top of regulators' minds for some time. Lending & Credit Risk. Staffing Assessments: Why Financial Institutions Should Prepare for 2022 Staffing Needs Now. The world is watching the U.S., Learn More.

Resources 195

Resources Texas Analysis System 195

CFPB Monitor

JULY 28, 2022

He indicated that the CFPB hoped to take the next step in the 1033 rulemaking process by convening a SBREFA panel by the end of 2022. His estimated timing for those next steps (end of 2022) suggests the CFPB’s initial BNPL findings could be released this Fall. Payday lending. He did not mention rulemaking. Enforcement.

Regulation 78

Regulation Lending Fraud Meeting 78

CFPB Monitor

OCTOBER 6, 2022

In March 2022, OppFi filed a complaint seeking to block the DFPI’s attempt to apply the CFL rate cap to loans made through its partnership with the Bank. Thus, there was no doubt in Jones that [a national bank] was the actual lender and that [the national bank] qualified for an exemption from the usury restrictions.

California 78

California FDIC Analysis Utah 78

FICO

AUGUST 10, 2022

The removal of the mortgage market affordability test in the UK could pose challenges at a time when affordability is an important lending issue. Wed, 08/10/2022 - 11:55. Last year saw the highest level of mortgage lending the UK has seen since before the global financial crisis. Increasingly Complex Lending Challenges.

Lending 52

Lending Fraud Meeting Data 52

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 2022 stress test scenarios provide a blueprint for community banks and credit unions to get started on their own stress tests.

Capital 195

Capital Regulation Risk Management Community 195

Gonzobanker

DECEMBER 17, 2021

Then right back to the impossible in 2022. Some interesting finalists would be: M&T and People’s United Old National and First Midwest Webster and Sterling Columbia Bank and Umpqua. Congrats on a brave move and national recognition Jim! Chuck Snyder, chief executive of National Cooperative Bank (NCB).

Fintech 147

Fintech Strategy Leadership Lending 147

FICO

AUGUST 16, 2021

It is relied upon by stakeholders across the entire lending ecosystem – from regulators, investors and boards to consumers, lenders, and brokers – as a baseline metric for assessing credit risk that is fair to both lenders and consumers. . National Average FICO® Score Has Continued to Rise Through the Pandemic.

Report 98

Report Cards Trends Data 98

Gonzobanker

DECEMBER 19, 2022

Who saw 2022 coming and accurately predicted the headlines? A few modest examples of the 2022 roller coaster ride: The Fed rate hikes in 2022 totaled 425 basis points. In 2022, there was… wait for it… exactly one. Goes to 2022. SoFI gets a commercial bank that brings deposits, compliance, AND business lending.

Community 216

Community Fintech Industry Innovation 216

South State Correspondent

JULY 25, 2022

We have poured through the recent 2Q earnings releases, spoken with a rash of institutional bank investors, traded thoughts with analysts, and compiled the following list of concerns that bank stakeholders (employees, shareholders, vendors, and regulators) now have. Top Line Revenue & Lending. General Performance.

Trends 195

Trends Lending Marketing Capital 195

Abrigo

MARCH 31, 2023

You might also like this webinar: "CECL implementation FAQs: Progress as 2023 approaches" listen Takeaway 1 The National Credit Union Administration emphasized interest rate, liquidity, and credit risk as main concerns. But not all credit unions were ready to address CECL in their 2022 capital plans.

Risk Management 195

Risk Management Policies Capital Maine 195

Abrigo

JULY 7, 2022

What Will Auditors and Regulators Expect with CECL Accounting? A panel of CECL accounting experts described how auditors and regulators are viewing various aspects of implementation. . Takeaway 2 Auditors and regulators don't have preconceived expectations about how CECL reserves might change for an institution.

Regulation 195

Regulation Management Video Data 195

FICO

JUNE 21, 2022

Tue, 06/21/2022 - 11:25. The use of FICO prescriptive analytics for credit card portfolio optimization allows the bank to comply with rigorous national laws around credit offers while growing approvals by 45 percent and limits by 60 percent. A key challenge was the legal caps enforced by the regulator,” said Pak. by Nikhil Behl.

Analytics 52

Analytics Cards Strategy Regulation 52

Abrigo

JULY 1, 2022

Human trafficking has long been a global concern and has officially become one of the eight national anti-money laundering and counter-terrorism priorities for the United States. The United Nations reports that there are approximately 40.3 This horrific crime enslaves men, women, and children of any age, race, or nationality.

Training 195

Training Fraud National Exercises 195

Abrigo

JUNE 15, 2023

has lagged in passing laws and regulations preventing criminal proceeds from flowing into real estate. national security and the integrity of the U.S. The comment period for the proposed rule, Anti-Money Laundering Regulations for Real Estate Transactions , ended in February 2022, but a final rule has yet to be issued.

Training 195

Training Regulation Compliance System 195

CFPB Monitor

JUNE 15, 2021

The CFPB’s proposal would extend the effective date to January 29, 2022. In 2017, the United Kingdom’s Financial Conduct Authority, the regulator that oversees the panel of banks on whose submissions LIBOR is based, announced that it would discontinue LIBOR sometime after 2021. The comment period closed on August 4, 2020.

Regulation 78

Regulation FDIC Lending Data 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

Gonzobanker

DECEMBER 14, 2023

Honorable Mentions – while this was a quiet year for M&A, we tip our hat to Atlantic Union’s acquisition of American National Bank and Eastern Bank’s acquisition of Cambridge Bank. The Bank Regulator Working for Merchants Award! Seems like maybe this has been forgotten when it comes to these regulations.

Fintech 195

Fintech Community Regional Technology 195

CFPB Monitor

JUNE 20, 2022

Delivering the keynote address last week at the Consumer Federation of America’s 2022 Consumer Assembly, CFPB Deputy Director Zixta Martinez indicated that the CFPB “is taking a close look” at “’rent-a-bank’ schemes.”. Nonbank/bank partnerships are currently under siege from several directions.

FDIC 78

FDIC California Texas Fintech 78

CFPB Monitor

NOVEMBER 22, 2021

At an industry fair lending conference last week, officials from the U.S. Department of Housing and Urban Development (“HUD”) outlined fair lending priorities for their agencies. along racial, ethnic and national origin lines. along racial, ethnic and national origin lines.

Conference 78

Conference Lending Industry Regulation 78

FICO

JANUARY 5, 2023

Open banking, BNPL, cybersecurity and AI will all be under the microscope for regulators and policymakers, but not all areas will see major action in 2023. regulators take a major step in addressing the emerging open banking landscape. Several groups have also called for comprehensive industry regulation. Four 2023 U.S.

Policies 52

Policies Company Regulation Risk Management 52