Abrigo

DECEMBER 5, 2023

AML Compliance Ten qualities of a successful BSA officer Hiring a Bank Secrecy Act (BSA) Officer for a financial institution involves looking for a unique experience level and skillset that ensures compliance with the BSA and related regulations. This includes training staff on BSA/AML policies and fostering a culture of compliance.

Training 221

Training Compliance Regulation Software 221

CFPB Monitor

AUGUST 3, 2023

Yesterday, we published a blog post in which I urged the CFPB to agree to extend the relief granted by the Texas federal district court in the lawsuit challenging the CFPB’s final small business lending rule (Rule) to all entities covered by the Rule.

Texas 78

Texas Lending FDIC Compliance 78

Perficient

FEBRUARY 29, 2024

This blog was co-authored by Perficient’s Chief Strategist and banking expert: Scott Albahary A slowing global economy, coupled with a divergent economic landscape, poses challenges for the banking industry in 2024. Facilitation of embedded lending while ensuring compliance: Embedded finance initiatives must adhere to regulatory requirements.

Trends 221

Trends Industry Analytics Compliance 221

Abrigo

SEPTEMBER 7, 2023

Adapt to a dynamic banking environment with real-time lending & credit data Lender dashboards and reports showing the lending pipeline, pricing trends, emerging risks, workflow bottlenecks, etc. Ironically, data for making lending and credit decisions for the financial institution can also be one of the toughest assets to harness.

Report 195

Report Lending Trends Data 195

Abrigo

JANUARY 18, 2017

In an increasingly competitive banking environment, many banks and credit unions are re-evaluating their lending portfolios to see where they might have strong opportunities for competitive growth. For many, that area is Small to Medium Business Lending and Commercial Real Estate. percent of a credit union’s assets.

Lending 150

Lending Risk Management Compliance Management 150

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 221

Training Compliance Fraud Policies 221

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.

Risk Management 221

Risk Management United States FDIC Compliance 221

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 195

Training Compliance Fraud Policies 195

Abrigo

JANUARY 30, 2024

REGISTER Takeaway 1 Banking and compliance professionals rely on ThinkBIG to elevate their understanding of industry shifts and regulatory pressures. Banking and compliance professionals rely on the annual conference to elevate their understanding of industry shifts and regulatory pressures that hammer them daily.

Conference 195

Conference Arizona Phoenix Fraud 195

CFPB Monitor

JULY 13, 2020

The CFPB recently published a blog post titled, “ Innovation spotlight: Providing adverse action notices when using AI/ML models.”. The blog post primarily recycles information from the Bureau’s annual fair lending report issued in May 2020. The Bureau again encourages entities to consider using its new innovation policies (e.g.

Policies 78

Policies Innovation Lending Compliance 78

Abrigo

AUGUST 3, 2015

According to a recent survey by the American Bankers Association (ABA), more than 46 percent of respondents had to reduce offerings for loan or deposit accounts, or other services, at their bank because of regulatory compliance burdens.

Compliance 150

Compliance Community Bank Community Survey 150

Abrigo

DECEMBER 2, 2021

In a competitive lending environment, many banks and credit unions are concerned about losing good-quality loans if they over-price them. It's "business as usual" as far as expectations for compliance staff to remain alert for illicit financial activity. Lending & Credit Risk. Consumer Lending. Asset/Liability.

Conference 195

Conference San Antonio Lending Fraud 195

CFPB Monitor

JUNE 30, 2022

Of special note, the OCC also believes compliance risk is “heightened” for Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) compliance because of world events and compliance staffing concerns. BSA/AML Compliance Risks. Cybersecurity Risks.

Compliance 78

Compliance Fraud Technology Operations 78

Abrigo

AUGUST 6, 2021

Community banks are critical to ag lending and small business lending. Additionally, community financial institutions are more likely to leverage relationship lending to help smaller businesses obtain loans that they might not be able to secure with larger institutions based solely on their financial information. SBA Lending.

Community Bank 195

Community Bank Community Kansas City Lending 195

Abrigo

MAY 19, 2017

With the National Credit Union Administration issuing its final member business lending (MBL) ruling as of January 2017, credit unions are seeing increased flexibility in their lending limits. Who is responsible for collecting key documents, and will a system be used to track tickler documents and member compliance?

Lending 150

Lending Analysis Knowledge Base System 150

CFPB Monitor

JANUARY 5, 2021

based on alleged violations of the Military Lending Act (MLA) and Electronic Funds Transfer Act (EFTA). While, as noted, this is the CFPB’s second recent investigatory sweep related to military lending practices, the Omni consent order may also be part of a broader but unannounced focus on EFTA compliance.

Lending 78

Lending Trends Nevada Compliance 78

Abrigo

AUGUST 27, 2020

Culture of Compliance: Again, some things stay the same, and in this case, the culture of compliance is crucial to ensuring a strong BSA/AML program. If a regulator comes on-site, either in person or virtually, and there is no culture of compliance, be forewarned that the exam may not go well. Lending & Credit Risk.

Regulation 195

Regulation Fraud Compliance Lending 195

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

NOVEMBER 9, 2020

Loan administration is a basic and yet far-reaching process of lending. Find out about upcoming free lending/credit webinars. Tracking exceptions in aggregate across the portfolio can point out holes in underwriting standards or compliance problems. Lending & Credit Risk. Member Business Lending. CRE Lending.

System 195

System Lending Software Risk Management 195

CFPB Monitor

JULY 8, 2019

The CFPB’s annual fair lending report covering its 2018 activities was published in today’s Federal Register. In addition to discussing the symposium and Data Point report in the section on “Access to Credit,” the new fair lending report discusses conducting supervisory reviews of alternative credit scoring models.

Lending 60

Lending Report Policies Compliance 60

Abrigo

JUNE 4, 2020

15 due to compliance with requirements or guidance from the U.S. Lending & Credit Risk. SBA Lending. CRE Lending. Lending & Credit Risk. CRE Lending. Lending & Credit Risk. 2020 CRE Outlook: Trends Expected to Shape Commercial Real Estate Lending. Credit Risk Management. Learn More.

Lending 195

Lending Risk Management Management Community 195

Abrigo

NOVEMBER 1, 2021

Takeaway 1 BSA and fraud functions have historically been siloed, and IT has been external to compliance. Takeaway 3 Cyberattacks are also on the rise, lending even more importance to communication and collaboration among the BSA, fraud, and IT functions. Increased cybercrime requires all three to collaborate. BSA Training. Learn More.

Fraud 195

Fraud Video Training Compliance 195

Abrigo

JANUARY 17, 2024

Look into wires to and from foreign countries more skeptically,” said Terri Luttrell, Director of Compliance and Engagement at Abrigo. “A “Notice patterns such as movement from one place to another in different large cities or a larger than usual number of smaller CashApp or Only Fans transactions.

Training 259

Training Community Software Texas 259

Abrigo

JANUARY 14, 2021

There are other risk factors to consider with PPP loans In addition to possible hard dollar losses, financial institutions should consider other risk factors when allocating compliance resources to their PPP onboarding and portfolio due diligence: Bad Debt Risks - Loan amounts not forgivable may have a higher level of default. SBA Lending.

Fraud 195

Fraud Compliance Community Trends 195

Abrigo

AUGUST 18, 2020

If you’re a small institution that only did PPP lending to your existing customers and decided not to do a lookback based on a risk-based approach, document that in your policies and procedures , ” said Luttrell. Lending & Credit Risk. Member Business Lending. SBA Lending. Asset/Liability. C&I Loans. Learn More.

Fraud 195

Fraud Lending Trends Compliance 195

Abrigo

FEBRUARY 5, 2021

Andy Snow, Senior Vice President of Customer Success for Abrigo, a leading technology provider of compliance, credit risk, lending, and asset/liability management solutions to community financial institutions, said some lenders have been very frustrated. Lending & Credit Risk. SBA Lending. Lending & Credit Risk.

Fraud 195

Fraud Lending Taxes Regulation 195

Abrigo

DECEMBER 30, 2019

Institutions must create a strong culture of compliance. Creating a Culture of Compliance. One of the more important takeaways from 2019 is that all institutions, regardless of size or risk profile, must have a strong culture of compliance, as directed by FinCEN’s advisory in 2014. Looking back to strengthen your BSA program.

Training 195

Training Compliance Leadership Fraud 195

Abrigo

DECEMBER 13, 2019

Informal actions are generally appropriate for institutions that receive a composite rating of “3” for safety and soundness or consumer compliance. Lending & Credit Risk. Lending Regulation. How Stress Test Results Can Yield Better Lending, Credit, and Risk Decisions. BSA Rules and Regulation. CECL Regulation.

FDIC 195

FDIC Regulation Capital Lending 195

CFPB Monitor

MAY 3, 2016

The CFPB has issued a report covering its fair lending activities during 2015. The report states that in 2015, CFPB fair lending supervisory and public enforcement actions required institutions to provide approximately $108 million in remediation. Much of the information contained in the report was the subject of previous blog posts.

Lending 60

Lending Report Compliance Meeting 60

Abrigo

AUGUST 8, 2021

This article is substantially updated from a 2013 blog post. Larger or more complex institutions might have credit risk review functions entirely separate from their lending functions. It also monitors compliance with applicable regulations and laws. Reviewing lending staff’s risk ratings. Identifying Credit Weaknesses.

System 195

System Lending Policies Regulation 195

Chris Skinner

APRIL 18, 2017

He gave me the classic view: “A bank is there to take people’s money and lend it out at a profit, whilst ensuring the risk of non-payment is minimised” No it isn’t, I said. The lending part is now no longer important, as that can be done through alternative media such as peer-to-peer lenders. I argued that it wasn’t too far at all.

Risk Management 321

Risk Management Analytics Lending Software 321

CFPB Monitor

JANUARY 13, 2021

” The Statement is intended to provide “compliance principles and guidelines to inform and assist financial institutions in their decision making related to serving LEP consumers.”. The second section of the Statement contains “guidelines for developing compliance solutions when serving LEP consumers.” Fair lending testing.

Guidelines 78

Guidelines Compliance Lending System 78

Abrigo

OCTOBER 14, 2022

Financial institutions should have an LOS system in place or other means to cover this new reporting task before the compliance date arrives. Lending & Credit Risk. Lending & Credit Risk. Construction Lending. CRE Lending. Lending & Credit Risk. Watch Webinar. Learn More. Asset/Liability.

Risk Management 195

Risk Management Management Policies Lending 195

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. Lending & Credit Risk. Lending & Credit Risk. Lending & Credit Risk. Download Guide. Asset/Liability. Loan Origination System. Learn More. Learn More.

Fintech 195

Fintech How To Innovation System 195

ABA Community Banking

APRIL 18, 2016

Compliance Blogs Common Sense Compliance Fair Lending. Can you really prove discrimination using only data?

Lending 40

Lending Data Compliance 40

Abrigo

APRIL 6, 2022

In this guest column by Jeffrey Taft and Matthew Bisanz of Mayer Brown 's Financial Services Regulatory & Enforcement practice, learn more about how to be ready for compliance. The new requirements become effective on April 1, 2022, but compliance is not required until May 1, 2022. Lending & Credit Risk. Be Prepared.

Security 195

Security Regulation District of Columbia United States 195

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