CFPB Monitor

MARCH 25, 2020

On March 23, 2020, the FDIC’s Office of Minority and Women Inclusion (OMWI) announced that it will request 2019 diversity self-assessments from FDIC-regulated financial institutions. The FDIC regulates insured state banks that are not members of the Federal Reserve System and insured state thrifts.

FDIC 60

FDIC Policies Regulation Training 60

CFPB Monitor

DECEMBER 19, 2019

The OCC and FDIC have issued a joint proposal to revise their regulations implementing the Community Reinvestment Act (CRA). Although the Federal Reserve, OCC and FDIC, are the primary CRA regulators, the Fed did not join the proposal and presumably will issue a separate proposal. ” Click here to register.

FDIC 78

FDIC Regulation Community Retail 78

Insights on Business

MARCH 5, 2019

Reducing costs but appeasing regulators seems like an oxymoron, yet, many AML compliance and operations leaders are being asked to do just that. The question is, how to do this, while keeping the regulators happy? Even better, regulators have recently begun encouraging the application of these techniques.

Regulation 70

Regulation Compliance Analysis Innovation 70

Abrigo

JUNE 2, 2021

The guidance emphasizes a risk-focused approach to examinations and refocuses the regulators to scope each exam according to the unique financial institution, not to use a one-size-fits-all approach. Does it address a “culture of compliance”? Culture of compliance. 6 Critical Areas. Examiner expectations during BSA exams.

How To 195

How To Training Compliance Policies 195

Social Assurance

MAY 22, 2020

While the FDIC and Federal Reserve did not join the OCC in releasing this rule, they have released their proposed rule. To help you prepare, we created this overview of the critical changes in regulation. Bank assessments aim to be a “complete picture” analysis of their activities and how they are serving their communities.

Compliance 29

Compliance Regulation Community Guidelines 29

CFPB Monitor

APRIL 15, 2019

A memorandum issued by the Office of Management and Budget entitled “Guidance on Compliance with the Congressional Review Act” creates a new “speed bump” for final rules issued by the CFPB as well as other independent regulatory agencies such as the Federal Reserve, the FCC, the FDIC, the FTC, and the OCC.

Compliance 68

Compliance Analysis FDIC Report 68

CFPB Monitor

APRIL 15, 2019

A memorandum issued by the Office of Management and Budget entitled “Guidance on Compliance with the Congressional Review Act” imposes a new review process on final rules issued by the CFPB and other independent regulatory agencies such as the Federal Reserve, the FCC, the FDIC, the FTC, and the OCC.

Compliance 60

Compliance Analysis FDIC Report 60

Social Assurance

JULY 10, 2020

While the FDIC and Federal Reserve did not join the OCC in releasing this rule, they have released their proposed rule. To help you prepare, we created this overview of the critical changes in regulation. Bank assessments aim to be a “complete picture” analysis of their activities and how they are serving their communities.

Compliance 15

Compliance Regulation Community Guidelines 15

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. Use a software tool [and] ensure your auditors and regulators are in the loop on progress.” CECL Regulation.

Survey 195

Survey Software Resources Meeting 195

CFPB Monitor

JUNE 15, 2020

On May 20, 2020, the OCC issued a final rule to “strengthen and modernize” its existing Community Reinvestment Act (“CRA”) regulations. The OCC acted alone in issuing the final CRA rule without waiting to achieve consensus with the FDIC, the agency with which the OCC had jointly issued the proposed rule.

Community 60

Community FDIC Lending Examples 60

Abrigo

NOVEMBER 22, 2021

Consumer Lending Laws & Compliance Financial institutions offering consumer loans need to know about these major consumer lending laws and recent compliance issues. Takeaway 1 Risk tied to consumer lending compliance has been elevated as a result of the pandemic and associated operating challenges. Pandemic Issues.

Compliance 195

Compliance Lending Risk Management Regulation 195

CFPB Monitor

JULY 12, 2022

However, regulators themselves have been criticized for encouraging de-risking by driving highly risk-adverse decisions by FIs, who are unwilling to take the chance and assume the compliance costs of doing business with specific customers who may in fact be “legitimate,” but whose risk profile is deemed to be high due to their group affiliation.

Regulation 78

Regulation ATM Operations Policies 78

Abrigo

DECEMBER 22, 2023

Abrigo's most popular risk management blogs over the last 12 months cover topics that continue to catch the attention of professionals and regulators. Probability of default and how it's used for expected loss Probability of Default/Loss Given Default analysis is a method used by larger institutions to calculate expected loss.

Risk Management 221

Risk Management Regulation Management Lending 221

PYMNTS

SEPTEMBER 21, 2020

billion transactions for potential suspicious activity and screened more than 157 million transactions for compliance with applicable sanctions requirements. As Standard Chartered noted to BuzzFeed in the wake of the FinCEN files report: "In 2019 we monitored more than 1.2 In one example, reported on Monday (Sept. billion in fines.

Fraud 347

Fraud Report System FDIC 347

CFPB Monitor

DECEMBER 5, 2019

The OCC, Federal Reserve Board, FDIC, NCUA and CFPB have issued an “ Interagency Statement on the Use of Alternative Data in Credit Underwriting.”. The statement sets forth the agencies’ recognition of the benefits of using alternative data (AD) in credit decisions.

Data 97

Data FDIC Compliance Analysis 97

CFPB Monitor

FEBRUARY 10, 2022

A California federal district court judge has rejected challenges to the OCC’s and FDIC’s Madden -fix rules brought in two separate lawsuits by state attorneys general. Section 7.4001(e) and the FDIC rule is codified at 12 C.F.R. Judge White then concluded that the FDIC’s rule was also entitled to Chevron deference.

FDIC 78

FDIC California National Regulation 78

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.

FDIC 131

FDIC Community Lending Survey 131

American Banker

AUGUST 29, 2016

sent a letter to federal regulators Monday requesting an analysis of bank trading data that is being collected as part of the Volcker Rule. Carolyn Maloney, D-N.Y.,

Data 34

Data Analysis Regulation FDIC 34