CFPB Monitor

DECEMBER 13, 2021

The report discusses the Bureau’s examinations in the areas of credit card account management, debt collection, deposits, fair lending, mortgage servicing, payday lending, prepaid accounts, and remittances that were completed between January 2021 and June 2021. Credit card management. Fair lending.

Lending 78

Lending Cards Regulation Payments 78

PYMNTS

JULY 6, 2017

Online and alternative lending is satiating consumers’ need for speed when it comes to accessing finance. But, while an online loan decision may be near-instant, borrowers may still have to wait several days to actually see the money — and what’s the good in news like that? It’s a no-brainer,” said Edwards.

Lending 101

Lending Online Risk Management Payments 101

PYMNTS

SEPTEMBER 6, 2018

Compliance and risk? Automating that compliance is now a “need to have.”. Compliance and risk officers have the unenviable task of finding out, sometimes after the fact, that not all the boxes are checked — if they even knew the boxes were there for checking in the first place. Plugging In To Plugins.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

PYMNTS

SEPTEMBER 4, 2019

The Hong Kong Monetary Authority has, as finews.asia reported this past week, amended its credit risk management guidelines in a way that seeks to boost the embrace of analytics when lending to smaller firms. The solution ensures compliance with the second payment services directive (PSD2).

Lending 134

Lending Fintech Guidelines Meeting 134

PYMNTS

OCTOBER 5, 2018

The problem, Abramowitz noted, is that retail in the last decade has moved online and into multi-channel – and private-label cards have not really made the necessary transformation to keep pace. This isn’t the case for retailers born in the online world, Abramowitz contends. What’s Next.

Cards 144

Cards Retail Online Millennials 144

PYMNTS

JUNE 24, 2016

Online to offline coming to Walmart near you, and we mean that sincerely. Online lending . And that, says the industry, is bad news, as costs of compliance with stricter regulation could be coming at exactly the moment these firms can’t take on any new costs. . Costco Card. A pretty clear-cut sizzle.

Lending 101

Lending Online South Dakota North Dakota 101

Gonzobanker

AUGUST 17, 2022

Then, bad grades came in right as summer party season kicked off, mom and dad took away the car and credit card, and the Venmo transfers came to a screeching halt. Lending Tech With Almost Steady Grades (Even With Rough Semesters). First, there was the drama leading up to the breakup with the rich hottie.

Fintech 184

Fintech Lending Software Compliance 184

Independent Banker

DECEMBER 13, 2015

New Military Lending Act regulations kick in next fall. Following a three-year study on predatory lending, the U.S. Department of Defense has now issued the final rule to implement the Military Lending Act. 1, 2015, and compliance with the rule is required by Oct. 1, 2015, and compliance with the rule is required by Oct.

Lending 70

Lending Compliance Regulation Virginia 70

PYMNTS

OCTOBER 10, 2019

Today in the payments news roundup, average interest rates on credit cards are approaching record levels. Credit Card Interest Rates Rise To Near-Record Levels. Average interest rates on credit cards are coming close to record levels despite a 50-basis-point decline on a 10-year note yield. 14) in Switzerland.

Cards 109

Cards Payments Meeting Regulation 109

PYMNTS

APRIL 19, 2019

The big news in B2B FinTech investment this week came from Airbnb , which is bolstering its presence in the business travel market with new funding, while corporate card startup Brex also secured a prominent debt capital investment. Lyric plans to use the investment to expand its operations as it continues to focus on regulatory compliance.

Capital 174

Capital Lending Cards cryptocurrency 174

CB Insights

FEBRUARY 13, 2020

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Stripe really did come about because we were really appalled by how hard it was to charge for things online.” — John Collison.

Online 98

Online Company Retail Payments 98

Abrigo

SEPTEMBER 20, 2023

Join Abrigo for a webinar discussing risk assessments' role in compliance. 1st-party debit or credit card fraud : Card fraud causes financial institutions significant monetary losses. This abuse was frequent with the Paycheck Protection Program (PPP) set up during the Covid-19 pandemic.

Fraud 195

Fraud Trends Cards Software 195

PYMNTS

DECEMBER 8, 2020

Plus, online lending startup SoFi is looking to go public through a SPAC. Social Finance (SoFi), a San Francisco-based online lending startup, is holding talks about selling to a blank-check acquisition company to debut on the stock market. Capital One Halts BNPL Transactions On Its Credit Cards.

San Francisco 130

San Francisco Community Bank Video Capital 130

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

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. Card Fraud. Asset/Liability.

Fraud 195

Fraud Lending Trends Compliance 195

PYMNTS

APRIL 26, 2019

Visa’s newest APIs will help those within the Visa ecosystem to create digital cards on demand and add digital services. In addition, they are expected to jointly explore new product and service offerings in digital lending. Is Apple Card Already Changing Payments? The aim is to announce the launch of the credit card in 2019.

Bitcoin 175

Bitcoin Apple Cards Compliance 175

FICO

DECEMBER 15, 2021

In 2022 consumers will increasingly expect to be able to service all of their requirements, however complex, online. They will expect their bank to know when they last called a contact centre, logged into online banking, made a payment or queried a transaction. The ESG Agenda Will Drive the Search for Cleaner Decisions.

Lending 52

Lending Data Risk Management Regulation 52

PYMNTS

DECEMBER 11, 2020

Capital One Halts BNPL Transactions On Its Credit Cards. Capital One Financial Corp is putting a stop to buy now, pay later (BNPL) transactions on its credit cards, calling the dealings “ risky ,” for both consumers and banks. Report: Millennials, Buy Now Pay Later And The Shifting Dynamics Of Online Credit.

Trends 175

Trends Fraud Millennials Community Bank 175

PYMNTS

MAY 13, 2016

On the heels of Lending Club’s fall from grace this week – the day after to be precise – Wells Fargo announced that it would come to the rescue of SMBs by offering fast decisions on small business loans. This online service offers competitive rates and quick (like next day) access to funds. Merchants and Chip Cards.

Cards 100

Cards Lending Google Apple 100

Bank Innovation

DECEMBER 16, 2019

The man was struggling to pay his bills, and an online lender had offered him a personal loan to pay off some 10 credit cards. Lara Briehl had a desperate client who was itching to accept an offer. Accepting, he thought, would help him escape crushing debt. The interest rate offered, however, was about 10 […].

Fintech 259

Fintech Cards Online Lending 259

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. Card Fraud. PPP loans are heightened risk because of the fraud we’re seeing. BSA Rules and Regulation. Fraud Prevention.

Fraud 195

Fraud Trends Compliance Technology 195

PYMNTS

SEPTEMBER 24, 2020

The conversation came against a backdrop where online transaction volumes and mobile wallet adoption are increasing. The percentage of total sales that occurred online in the U.S. At the same time, online businesses actually invested less in fraud prevention tools as their general budgets tightened due to external pressures.

Mobile 245

Mobile Management Fraud Training 245

CFPB Monitor

SEPTEMBER 1, 2021

The definition of “financial institution” in Section 1071(h) covers any entity that engages in financial activity and includes both depository institutions and non-depository institutions such as online lenders, platform lenders, lenders involved in equipment and vehicle financing, and commercial finance companies.

Data 78

Data Lending Meeting Regulation 78

PYMNTS

JANUARY 22, 2021

Young B2B FinTechs secured some of their first investments in areas that include small business accounting, alternative lending and financial management. and India, alternative small business lending technology company CreditEnable has revealed a $2 million seed round, according to Inc42 reports. Bookkeeper360. CreditEnable.

Security 204

Security Fintech Capital Management 204

PYMNTS

OCTOBER 4, 2019

based alternative small business lending isn’t dead with investors and an India startup landed more than half a billion dollars. million investment round in commercial card startup DiviPay, reports said this week, via the bank’s venture capital unit ANZi. See all of the latest B2B fundraises below.

Capital 128

Capital Lending California Regional 128

South State Correspondent

JANUARY 4, 2023

Moving all customers to digital statements, restructuring compliance reviews and employee onboarding are just some of the more popular efforts that banks are undertaking in 2023. Lending Focus – Interest Rate Sensitivity and Credit Accuracy. Many banks, for example, are still hyper-competitive in multifamily lending.

Community Bank 195

Community Bank Capital Lending Training 195

PYMNTS

JUNE 17, 2019

This means the focus as been more on compliance with PDS2 rather than commercialization. The challenge as it now stands, however, is that the user experience for payments via open banking is not yet as seamless as the card payment experiences that many consumers are generally used to in high card penetration markets like the U.K.

User Experience 196

User Experience Examples Innovation Cards 196

PYMNTS

OCTOBER 11, 2019

Upgrade Card Combines Credit Card Acceptance With Installment Payments Flexibility. LendingClub Founder Renaud Laplanche built a business to help consumers manage the $800 million in outstanding credit card debt twelve years ago. Max Levchin On The Future-Present Of Everywhere POS Lending. As of Oct. Trackers and Reports.

Cards 116

Cards Online Houston Digital Banking 116

PYMNTS

SEPTEMBER 15, 2017

Of course, banks have to be run with safety and soundness to protect those deposits, but they also have myriad public mandates, like fair lending, anti-money laundering and customer privacy. Lending money beyond what people can bear is the hallmark of predatory lending, she emphasized, and that’s not going to help the customer.

Fintech 198

Fintech System Lending Cards 198

PYMNTS

NOVEMBER 19, 2019

Then the online lenders rose up and said they could do lending better and faster than the banks. The Lessons of Lending . The evolution of online lending, Edwards noted, serves as a good microcosm of how instant payments are changing and raising the level of financial services across the ecosystem.

Lending 109

Lending Online Payments Exercises 109

PYMNTS

MARCH 30, 2020

They are likely living life, now more than ever, online. “As He pointed to features that lend themselves well to banking on mobile devices. As more fraud shifts from card-present to card-not-present commerce, it’s been imperative to thwart attempts to impersonate consumers and assume control of their accounts.

Tools 143

Tools Fraud Data Security 143

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

NOVEMBER 18, 2019

18), Ware2Go said its partnership with the small business online financing marketplace will allow joint merchant customers to access logistics and financing options in the same place, with offerings that include inventory financing, bank loans and commercial credit cards. In a press release issued on Monday (Nov.

Tools 109

Tools Cards Resources Compliance 109

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

PYMNTS

SEPTEMBER 18, 2018

In addition, the “digital sandbox” will, in part, focus on regulatory compliance and — as is typical of such testing environments — allow an operating license to be granted in the wake of a proven business model. Announcements came Monday (Sept. Startup accelerators are in place. Open Banking, APIs In The UK.

Fintech 166

Fintech New York US National 166

PYMNTS

AUGUST 19, 2019

Sanborn tells Webster that, at least from where he and Lending Club sit, expanding origination services, honing cost efficiencies and introducing a broadened palette of credit offerings will help the company weather any near-term macroeconomic headwinds.

Lending 123

Lending Capital United States National 123

PYMNTS

SEPTEMBER 18, 2019

As Ufford told Webster, past may be prologue, and the future journey toward proving identities may take a hint from the card networks. “ The card networks have essentially given us the roadmap on how to solve identity when they solved card payments.”. The writing’s on the wall from the payments space,” he told Webster.

How To 158

How To Regional Data Cards 158