California FDIC Regulation Security 
CFPB Monitor
DECEMBER 21, 2021
Last week, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into a consent order with Wheels Financial Group, LLC d/b/a LoanMart, a California-based company that markets and services automobile title loans. LoanMart holds a CFL license.
Independent Banker
DECEMBER 31, 2022
The FDIC approved a final rule to increase initial base deposit insurance assessment rates by 2 basis points until the Deposit Insurance Fund (DIF) achieves the FDIC’s long-term goal of a reserve ratio of 2% of insured deposits. The FDIC’s long-term goal for the reserve ratio of insured deposits. Source: FDIC.
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BankInovation
MARCH 10, 2023
Silicon Valley Bank was taken over by regulators today following a week of abnormality that included a sale of securities on Wednesday, capital raising efforts on Thursday and a stock plummet of nearly 70% this morning.
Independent Banker
JULY 31, 2022
Locality Bank, a digital-first community bank serving south Florida that opened in January, is run by industry veterans with such successful track records that regulators signed off on their application for a charter in less than a year. Location: Fort Lauderdale, Fla. That’s no small feat for any de novo, especially during a pandemic.
Abrigo
SEPTEMBER 5, 2023
Path to removal – Sometimes an exception is like the Hotel California – you can check out anytime you like, but you can never leave. As the FDIC said recently: Exceptions to policy should be few in number and properly justified, approved, and tracked. It just stays on forever. Get details in "A guide to implementing credit policy."
Independent Banker
AUGUST 26, 2015
Electronic signatures are accepted by banking regulators and meet state standards under the Uniform Electronic Transactions Act. Webster says FDIC officials had “no issue” with the mortgage company’s use of electronic signatures during a recent exam of PrivatePlus Mortgage. Howard Schneider is a financial writer in California.
Abrigo
SEPTEMBER 14, 2022
In 2011, the CFPB interpreted Section 1071 to mean that obligations for financial institutions to collect, maintain, and submit data “do not arise until the [CFPB] issues implementing regulations and those regulations take effect.” Those implementing regulations were coming. California Reinvestment Coalition v.
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