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. In People of the State of California, et al. In People of the State of California, et al. The OCC rule is codified at 12 C.F.R. Section 160.110(d).

FDIC 78

FDIC California National Regulation 78

PYMNTS

DECEMBER 10, 2016

Two years ago today, Lending Club was ringing the bell on an IPO that one early investor called “a no-brainer.”. Lending Club’s model does not need bank branches on each street corner, and it can turn around in minutes and hours, not days. “I So what went so right for LendingClub two years ago today at its IPO — and then so wrong?

Lending 100

Lending Compliance Capital Marketing 100

PYMNTS

APRIL 8, 2020

The Federal Reserve Board said on Wednesday (April 8) that they will temporarily and narrowly modify the growth limits placed on the California financial services company due to what they called “extraordinary disruptions” caused by the coronavirus. Wells Fargo is getting a break thanks to the COVID-19 pandemic.

Maine 140

Maine Lending California Compliance 140

American Banker

AUGUST 2, 2023

The Department of Housing and Urban Development is reviewing HSBC's lending practices in certain majority Black and Hispanic neighborhoods, the bank disclosed. The regions under scrutiny include New York, Seattle and several parts of California, according to the nonprofit organization whose complaint prompted the investigation.

Seattle 69

Seattle New York California Regional 69

CFPB Monitor

APRIL 14, 2021

The California Department of Financial Protection and Innovation (DFPI) has issued modifications to its proposed regulations to implement SB 1235, the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances.

CA 78

CA Regulation California New York 78

PYMNTS

JULY 27, 2020

Davies is leaving Revolut to take over the Allica Bank, which specializes in lending to businesses, according to the FT. In February, Menlo, California-based TCV led a $500 million round. Davies’ exit comes just four days after the London-based operation announced $80 million in new funding.

United States 140

United States Leadership Risk Management California 140

PYMNTS

APRIL 19, 2019

The B2B FinTech space saw its fair share of venture capital, too, with investors targeting spend management, alternative small business lending, workforce management and enterprise crypto services — plus, some news of a few more investment rounds likely on the horizon. Chainalysis.

Capital 174

Capital Lending Cards cryptocurrency 174

American Banker

DECEMBER 30, 2019

The decision by the state’s Department of Business Oversight on an application for a lending license by Sezzle could guide fintechs and others seeking to make loans to consumers at the time of purchase.

California 41

California Lending Fintech Compliance 41

American Banker

NOVEMBER 8, 2023

Citigroup didn't admit any wrongdoing in its settlement of allegations by regulators that employees denied credit cards to people in Southern California suspected of being of Armenian origin.

California 79

California Regulation Cards Compliance 79

American Banker

DECEMBER 3, 2023

Maxine Waters pressed executives from City National Bank, PNC Financial Services and Wells Fargo on opening branches in her California district and upholding promises made from recent merger agreements or consent orders.

California 74

California National Policies Compliance 74

PYMNTS

OCTOBER 4, 2019

An Egyptian firm landed the MENA region’s largest-ever seed round, a California company proved U.S.-based based alternative small business lending isn’t dead with investors and an India startup landed more than half a billion dollars. See all of the latest B2B fundraises below. ForwardLine Financial.

Capital 128

Capital Lending California Regional 128

CFPB Monitor

OCTOBER 11, 2018

At the Online Lending Policy Institute’s (OLPI) annual summit in Washington, D.C. The summit speakers included Grovetta Gardineer, the Senior Deputy Comptroller for Compliance and Community Affairs at the OCC. Finally, Adam Maarec, Of Counsel in Ballard’s D.C.

Policies 60

Policies Lending Data Online 60

CFPB Monitor

OCTOBER 25, 2019

The first panel will focus on the current state of, and future outlook for, the small business lending marketplace. The panel will be moderated by Grady Hedgespeth, Assistant Director in the Bureau’s Office of Small Business Lending Markets. Neiman, Head of Regulatory and Government Affairs, Lending Club.

Tampa 60

Tampa Lending California Community 60

Insights on Business

NOVEMBER 19, 2018

For one regional bank working with IBM, this means a focus on credibility that capitalizes on the bank’s credit risk and specialty lending services. Addressing Compliance: Artificial intelligence in banking must also address emerging compliance issues, such as those posed by HIPAA, GDPR and new California data privacy laws.

Compliance 177

Compliance Regional blockchain Technology 177

PYMNTS

APRIL 25, 2017

The charter is optional for FinTechs and is aimed at providing a stamp of approval by the OCC for having good compliance practices. Among the states that have issue with it are New York, Florida, Ohio and California. In essence with the charter, the government could weed out the good FinTechs from the bad ones.

Fintech 109

Fintech Ohio Florida Oregon 109

PYMNTS

OCTOBER 11, 2019

Targeting the middle market and large corporates, the company provides data analytics automation for fleet managers to obtain a holistic overview of operations, including mileage, damage, compliance, lease costs and more. XTransfer already operates in China, Hong Kong, the U.K., Canada, the U.S.,

Capital 169

Capital California Analytics Management 169

PYMNTS

NOVEMBER 2, 2018

As legal cannabis spreads, the industry is a big opportunity for FinTech, as industry players struggle to manage intense compliance requirements and limited access to traditional financial services. based B2B software-as-a-service and data solutions provider focusing on supporting corporates’ compliance and anti-fraud efforts.

Fintech 188

Fintech Capital Security Fraud 188

CFPB Monitor

MARCH 31, 2022

In a new lawsuit filed in a California federal district court, a recipient of Deferred Action for Childhood Arrivals (DACA) alleges that a credit union violated the Civil Rights Act of 1866 (42 U.S.C. 1981) and California’s Unruh Civil Rights Act (UCRA) by denying her loan application based on her status as a DACA recipient.

CA 78

CA United States California Lending 78

CFPB Monitor

JANUARY 7, 2021

However, the AG plaintiffs in the new lawsuit instead view the Rule as “an unlawful attempt” by the OCC to “facilitate predatory lending” and support “rent-a bank schemes.”. If a bank fails to satisfy its compliance obligations, the OCC will not hesitate to use its enforcement authority consistent with its longstanding policy and practice.

District of Columbia 78

District of Columbia North Carolina New York Policies 78

CFPB Monitor

OCTOBER 4, 2022

A previous version of these procedures referenced the Regulation Z definition of “private education loans” which differs from the Truth in Lending Act definition. In 2019, California enacted a law that prohibits postsecondary schools from withholding transcripts as a debt collection tool.). Administration of forgiveness programs. .

Policies 146

Policies Compliance Payments Training 146

PYMNTS

MARCH 30, 2020

He pointed to features that lend themselves well to banking on mobile devices. Security is also top of mind for CUs as amendments to California data privacy laws may effectively insulate these FIs from penalties tied to data breaches, owing to CUs’ non-profit status.

Tools 143

Tools Fraud Data Security 143

American Banker

MAY 9, 2016

State officials in California have asked top online lending firms a series of probing questions regarding their compliance with laws and regulations dealing with referral fees, bank partnerships, fair lending and other sensitive issues.

Regulation 28

Regulation Online California Lending 28

Independent Banker

JUNE 30, 2022

Here, we highlight some of last year’s most successful loan producers in the areas of agriculture, commercial and consumer/mortgage lending. The score combines the average of the bank’s percentile rank for lending concentration and for loan growth over the past year in each lending category. By Ed Avis. Methodology. AGRICULTURE.

Community Bank 172

Community Bank Community National Philadelphia 172

PYMNTS

APRIL 10, 2017

The Office of the Comptroller of the Currency accused Wells Fargo of an “extensive and pervasive pattern” of discriminatory and illegal lending practices for years. The OCC also lowered its overall score of Wells Fargo’s compliance with community banking laws to “needs to improve.”. Maxine Waters, U.S.

Regulation 100

Regulation California Community Bank Cards 100

American Banker

JUNE 13, 2022

(..)

California 69

California Lending Compliance Regulation 69

PYMNTS

SEPTEMBER 25, 2020

MineralTree bought Atlanta-based Regal Software and California FinTech Inspyrus. Money transfer organizations have to remain in compliance with regulations or they will encounter sizable penalties or let crime spread. Massachusetts-based accounts payable (AP) automation technology firm MineralTree Inc. Trackers And Reports.

Maine 153

Maine social media Atlanta Massachusetts 153

Independent Banker

DECEMBER 31, 2021

That’s followed by residential mortgage lending (36.3%), small business lending (32.1%), commercial and industrial (C&I) lending (30%) and agricultural lending (23.6%). For example, we don’t do mortgage lending right now, because we don’t have the compliance expertise and staff knowledge,” Silveria says.

Community Bank 144

Community Bank Community Lending Louisiana 144

American Banker

DECEMBER 15, 2021

(..)

California 73

California Compliance Lending Regulation 73

Jeff For Banks

DECEMBER 10, 2023

They provide white label payments and depository services (think Paypal, Chime) and deploy that funding into specialized lending programs such as lending to wealth management firms, commercial fleet leasing, and real estate bridge lending. It has not been all sunshine and rainbows for TBBK. They changed their name.

Fresno 103

Fresno North Carolina Raleigh FDIC 103

American Banker

JANUARY 24, 2023

(..)

California 77

California Policies Compliance Lending 77

PYMNTS

AUGUST 5, 2019

One of the toughest parts of Know Your Business (KYB) compliance is understanding that the bad guys mimic what the good guys already do. For one, the technology is generally advanced enough to provide robust and monitoring of situations that lend themselves to fraud and other related forms of digital criminality, he said.

Company 163

Company Payments Fraud Meeting 163

American Banker

MAY 16, 2022

(..)

California 73

California FDIC Policies Compliance 73

American Banker

MARCH 10, 2022

(..)

California 69

California Compliance Lending Regulation 69

American Banker

DECEMBER 20, 2019

The state has proposed a law to cap the interest rate on certain consumer loans, but nonbanks aim to skirt it by seeking a rent-a-charter.

California 56

California FDIC Lending Compliance 56

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

CFPB Monitor

DECEMBER 5, 2018

Types of commercial financing (The DBO asks for examples of transactions other than fixed-rate, fixed-payment financing that are subject to SB 1235 (noting such examples may include merchant cash advances and recourse and non-recourse factoring), anticipated compliance obstacles in such transactions, and how the DBO can address such obstacles.).

Regulation 74

Regulation CA Policies Examples 74

CFPB Monitor

AUGUST 22, 2016

According to the CFPB, the new members “include experts in consumer protection, financial services, community development, fair lending, civil rights, consumer financial products or services, representatives of community banks and credit unions, and scholars with relevant methodological and subject matter experience.”

San Antonio 60

San Antonio Kansas City Groups CA 60