CFPB Monitor

OCTOBER 26, 2023

Although the final rule is effective April 1, 2024, the compliance date for the majority of the rule’s provisions is January 1, 2026. . Continue Reading

Community 78

Community FDIC Compliance Regulation 78

Abrigo

FEBRUARY 16, 2024

It's about ensuring that every aspect of your lending operation is optimized for efficiency and effectiveness. Credit administration staff are responsible for managing the entire credit process, including the approval of credit to borrowers, assessment of the creditworthiness of potential customers, and credit review of existing borrowers.

Training 195

Training Risk Management Analysis Policies 195

Abrigo

OCTOBER 14, 2022

With government stimulus money to help get customers through the pandemic dwindling, Paula King, Senior Advisor for Abrigo, anticipates lenders will be dealing with more loan workouts toward the beginning of 2024 and continuing to increase from there. Lending & Credit Risk. Lending & Credit Risk. Construction Lending.

Risk Management 195

Risk Management Management Policies Lending 195

Jeff For Banks

APRIL 4, 2024

Such as direct lending funds, and insurance companies. Shadow bank lending is similar to bank lending but is not subject to the same regulations, and compensating deposit balace requirements. And, according to some EDP students that are lenders, are turning to the shadow banking market that do not have deposit demands.

Banking Trends 119

Banking Trends Trends Millennials Oregon 119

CFPB Monitor

MAY 22, 2020

Accordingly, Fed-member state banks supervised by the Fed and non-member state banks and savings associations supervised by the FDIC will be subject to different CRA compliance frameworks than national banks and federal savings associations supervised by the OCC. Data collection, recordkeeping, and reporting.

FDIC 78

FDIC Lending Retail Compliance 78

Social Assurance

JULY 17, 2020

Compliance Deadlines for New CRA Regulations. The final rule will increase qualifying CRA-related activities in an effort to help better meet the need for access to credit, more responsible lending, and greater access to banking services. January 2024. Compliance deadline for small and intermediate banks. March 2020.

Compliance 15

Compliance Community Regulation Branding 15

PYMNTS

JUNE 27, 2018

Some of the largest FIs in the space have even begun to experiment , and experts predict that more than 90 percent of global FIs will have adopted the technology in some capacity by 2024. That’s for good reason, too, according to Chris Ward, executive vice president and head of product management for PNC Treasury Management.

Digital Banking 148

Digital Banking Technology Management Risk Management 148

Perficient

APRIL 18, 2024

Without open banking, consumers struggle to switch between bank deposit and lending offerings. For example, switching checking accounts to one with a better interest rate involves resetting direct deposits and recurring bill-paying, printing new checks, and obtaining a new ATM card.

Cards 221

Cards Regulation Data Apple 221

CFPB Monitor

JUNE 15, 2020

According to the agency’s press release , the final rule is designed to increase CRA-related lending, investment and services in low- and moderate-income (“LMI”) communities where there is significant need for credit, responsible lending, and greater access to banking services.

Community 60

Community FDIC Lending Examples 60

South State Correspondent

JUNE 27, 2023

This leads to enhanced transparency and improved accuracy and facilitates compliance with regulatory reporting requirements. Regulatory Compliance: Many regulators and market infrastructures around the world are moving towards ISO 20022, making it a requirement for participating in those markets.

System 195

System Data Examples Payments 195

CFPB Monitor

JUNE 25, 2020

The final rule is effective October 1, 2020 but sets mandatory compliance dates based on the applicable performance standards. Small and intermediate banks must comply with the rule by January 1, 2024. Until compliance with the final rule, national banks and federal savings banks must comply with the OCC’s current rule.

Community 97

Community Lending Meeting Retail 97

PYMNTS

OCTOBER 11, 2019

Max Levchin On The Future-Present Of Everywhere POS Lending. Trending: How EU Regulators Are Complicating SCA Compliance (Ekata PSDS Tracker). The Upgrade Card is tied to a line of credit that can be used everywhere that Visa cards are accepted. While Strong Customer Authentication (SCA) is only weeks old, it is mired in controversy.

Cards 116

Cards Online Houston Digital Banking 116

Gonzobanker

DECEMBER 14, 2023

Expect more deals to be announced in 2024. The It’s Still No Fun to Work Here Award – goes to the “stagecoach” Wells Fargo , which now is dealing with unionization efforts from employees at certain branches and has set aside $1 billion+ for additional employee severance costs in 2024. and Summit Financial Group, Inc.

Fintech 195

Fintech Community Regional Technology 195

CFPB Monitor

JANUARY 28, 2021

Although the OCC’s CRA final rule technically became effective on October 1, 2020, it provides transition periods for compliance based on a bank’s asset size, type of charter, and business model. the CRA evaluation measure benchmarks, retail lending distribution test thresholds, and community development minimums).

FDIC 131

FDIC Community Lending Survey 131

FICO

JANUARY 5, 2023

While a final rule implementing section 1033 of the Dodd-Frank Act will not be issued until 2024, knowing that “rules of the road” are now on the way is sure to add more momentum to open banking initiatives. Some BNPL firms already are providing disclosures mandated by the Truth-in-Lending Act.

Policies 52

Policies Company Regulation Risk Management 52