CFPB Monitor

JULY 5, 2022

In response to a request from three Democratic House members, the GAO recently issued a report on its review of fair lending oversight conducted by the Office of the Comptroller of the Currency. The GAO conducted the performance audit from January 2021 to June 2022.

Lending 78

Lending Report Policies Handbook 78

Abrigo

JUNE 5, 2023

Banking reports to inform risk management and strategy These reports on capital, growth, and liquidity help financial institutions spot warning signs. Takeaway 2 Reports that assess capital, growth, and liquidity provide banking professionals data to drive decisions.

Report 195

Report Risk Management Capital Data 195

PYMNTS

APRIL 8, 2020

And even as financial institutions began to smooth out the process, the initiative hit another snag Monday when reports emerged that the SBA’s computer systems had crashed. Small businesses, meanwhile, can use the platform to apply online as fewer physical bank branches are available. Bottomline Technologies. Funding Circle.

Lending 245

Lending Fintech America Technology 245

Independent Banker

DECEMBER 31, 2021

Independent Banker ’s annual Community Bank CEO Outlook survey reveals how community bank leaders plan to leverage today’s deposit-laden banking environment to grow this year. Janet Silveria, Community Bank of Santa Maria. So, what’s at the top of community bank leaders’ to-do lists?

Community Bank 144

Community Bank Community Lending Louisiana 144

South State Correspondent

JANUARY 16, 2024

We published various articles comparing community bank alternatives to LIBOR (such as SOFR, Ameribor, Fed Funds, and Prime). We believe that daily and term SOFR offer community banks the safest and most dependable index for benchmarking profitability, pricing loans, and hedging interest rate risk. No ISDA documents.

Community Bank 195

Community Bank Community Compliance CA 195

American Banker

JUNE 9, 2023

Economic analysis from the real estate advisory CBRE finds that community banks are particularly imperiled by their exposure to commercial real estate loans. Others see looming risks in indirect lending.

Community Bank 101

Community Bank Report Analysis Lending 101

Abrigo

MAY 8, 2024

They can more easily consider how to harness genAI's power to enhance their operations, compliance, risk management, and member or customer experience. Another example of using predictive AI is small business lending software that incorporates AI-driven lending intelligence.

Examples 222

Examples Fraud Resources Risk Management 222

Abrigo

MARCH 2, 2023

Experts have highlighted numerous lessons from Southwest’s experience, many of which can benefit bank and credit union executives, regardless of their institution size, as they manage competing priorities for spending and growth initiatives on banking solutions. Systems often fail at the worst time.

Technology 195

Technology Lending Community Software 195

Abrigo

SEPTEMBER 14, 2022

Takeaway 2 Section 1071 would require the collection and reporting of 13 specific data points and allow the CFPB to require additional data. The CFPB plans to issue a final rule implementing Section 1071 small-business reporting requirements by the end of March 2023, according to court filing. The proposed rule , unveiled Sept.

Lending 195

Lending Data Regulation Community 195

South State Correspondent

APRIL 1, 2023

While banking returned to some semblance of normal, many banks continued under short-selling pressure. In this article, we recap the latest data on deposits and banking in order to give you an updated picture. As an estimate, it looks like banks sold approximately $37B in securities. Deposit Balances The Fed’s H.8

Regulation 221

Regulation Community Bank Community Capital 221

Abrigo

DECEMBER 2, 2021

Indeed, deposit levels to transaction accounts among community banks exploded 74% to $896.5 31, 2019, and June 3, 2021, according to the Community Banking in the 21st Century report. Two years ago, more bankers surveyed for that report named core deposit growth as their greatest challenge than any other issue.

Conference 195

Conference San Antonio Lending Fraud 195

Independent Banker

SEPTEMBER 25, 2014

This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. Regulators and industry consultants agree that community banks are generally doing a great job handling their regulatory oversight and requirements. increased operational risks.

Compliance 101

Compliance Regulation Community Bank Community 101

PYMNTS

APRIL 16, 2020

This week’s look at the latest in bank-FinTech collaborations and open banking initiatives finds a focus on small business lending: In the U.K., Deloitte, Unqork, Plaid Debut Lending-as-a-Service Tool. ” Plaid Unlocks Payroll Data to Support PPP Lending. .”

Data 167

Data Lending Regional Fintech 167

Independent Banker

SEPTEMBER 21, 2015

Greater uncertainty wins as the Supreme Court upholds statistical evidence in fair lending claims. Supreme Court, it is, and the high court’s recent ruling to that effect is likely to affect community banks, their regulatory examinations and their potential exposure to fair lending lawsuits. lending compliance.

Lending 70

Lending Community Bank Policies Community 70

Independent Banker

OCTOBER 1, 2022

Neil Zick, president and CEO of Twin City Bank, helped Tim Norris obtain financing to start The Link Cannabis Co. When Oklahoma legalized the sales of cannabis for medicinal purposes in 2018, executives of $550 million-asset Blue Sky Bank in Tulsa, Okla., It’s a strategy that an increasing number of community banks are embracing.

Marketing 113

Marketing Compliance Community Community Bank 113

Abrigo

DECEMBER 17, 2021

Digital Banking Report. Executives must center their communication on the vision for the technology and what employees will gain from it. As an executive, consider asking questions like: What analytics and insights are missing in our reports? successfully implemented technology.

Fintech 195

Fintech How To Innovation System 195

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. 3, 2016, compliance date. By Mary Thorson Wright.

Lending 70

Lending Compliance Regulation Virginia 70

PYMNTS

DECEMBER 8, 2020

In today’s top news, economists expect the economy to recover back to pre-pandemic levels by the end of 2021, and China’s banking watchdog warns of further Big Tech regulations. Plus, online lending startup SoFi is looking to go public through a SPAC. Report: Digital Lender SoFi Eyes IPO Via SPAC.

San Francisco 130

San Francisco Community Bank Video Capital 130

Independent Banker

JUNE 30, 2022

The Peoples Bank helped the Jones family of Legacy Dairy in Hiseville, Ky., From left, Ally Jones; bank chairman, president and CEO Terry L. Last year, community bank loan producers were faced with both record-low interest rates and a glut of deposits. Ag lending in the South: Relationships matter. By Ed Avis.

Community Bank 172

Community Bank Community National Philadelphia 172

Abrigo

APRIL 8, 2020

Provide a BSA refresher course to your lending staff. BSA compliance remains crucial to protecting financial system. Key Takeaways BSA requirements still apply to Paycheck Protection Program loans. While these loans are 100% guaranteed by the SBA, fraud is still a concern.

Compliance 195

Compliance Lending Fraud Community 195

PYMNTS

MARCH 11, 2019

According to a report in Fintech Futures , the idea behind the project is to use permission-based blockchain technology so credit unions can reach more members that don’t have access to financial services. The blockchain network will be offered to all credit unions around the world later this year, noted the report.

blockchain 160

blockchain Regulation Community Bank Regional 160

PYMNTS

OCTOBER 9, 2018

Banks and businesses alike are heading toward the 11th hour of changes in accounting standards, which will have a major impact on how companies report financial metrics and performance. For companies, the changes will disrupt their financial reporting in a big way when the requirements come into effect.

Community Bank 153

Community Bank Community Report Lending 153

Abrigo

OCTOBER 23, 2014

CEIS Review , a New York-based bank consulting firm, highlights the shift in a recent article. Community banks certainly want to remain conservative with risks and follow regulations. But shareholders also expect profitability and growth, while keeping costs, especially those related to regulatory compliance, down.

Risk Management 186

Risk Management Management Lending Resources 186

Abrigo

JANUARY 8, 2016

A lengthy report released recently by the U.S. The GAO acknowledged that community banks, credit unions and their professional industry associations reported increased compliance burdens and reduced activity in specific business activities, such as certain mortgage lending, as a result of Dodd-Frank.

Regulation 150

Regulation FDIC Survey Community Bank 150

Independent Banker

OCTOBER 31, 2022

AI can help solve customer pain points—but does it mean community banks will lose the personal touch they pride themselves on? As community bankers themselves tell us, the answer is no. The estimated amount of money banks will save by using AI applications by 2023. billion-asset Sunwest Bank in Sandy, Utah.

Community Bank 91

Community Bank Community Customer Experience Data 91

Independent Banker

JULY 29, 2016

Big Savings—ICBA’s Dan Clancy and Travelers’ Laura Lundin hold a big check representing the $3 million dividend paid this year to community banking participating in the ICBA-Travelers property-and-casualty insurance Preferred Service Provider program. ICBA Bancard & TCM Bank, N.A. ICBA Services Network.

Community Bank 70

Community Bank Community Compliance Lending 70

Jeff For Banks

APRIL 4, 2024

And will their ALCO reports accurately predict what will happen? Time will tell and it is weighing heavily on bankers' minds as the most impactful to their banks' success. And, according to some EDP students that are lenders, are turning to the shadow banking market that do not have deposit demands.

Banking Trends 113

Banking Trends Trends Millennials Oregon 113

Abrigo

APRIL 7, 2022

Community banks with small asset sizes might merge with other small institutions whose branches complement one another, and larger banks may acquire smaller ones whose services fit their offerings. When two financial institutions come together, the AML and fraud compliance functions will need to be consolidated.

Compliance 195

Compliance Policies Fraud Analysis 195

PYMNTS

DECEMBER 11, 2020

Synctera Brings 'FinTech As A Service' To Community Banks. FinTechs want to offer compliant banking services, while community banks want new ways to grow deposits. Report: Digital Lender SoFi Eyes IPO Via SPAC. Trackers And Reports. The FinTech as a Service launched Tuesday (Dec.

Trends 175

Trends Fraud Millennials Community Bank 175

PYMNTS

APRIL 24, 2017

And those losses are felt, since small banks and credit unions with less than $10 billion in assets provide 48 percent of small business loans, 16 percent of residential mortgages, 44 percent of loans to purchase farmland, 43 percent of farm operations lending, and 35 percent of commercial real estate loans.

St. Louis 105

St. Louis Regulation Compliance Community Bank 105

Independent Banker

JULY 31, 2022

Fallout from recent global events presents an obstacle to generating revenue for community banks. It’s certainly an interesting time to be a community bank, but there are still plenty of ways to make efficiencies with an eye on profitability. ? But one of the biggest problems in community banking today is a fear of risk.

Strategy 135

Strategy Community Bank Louisville Community 135

PYMNTS

MARCH 26, 2018

According to a report in The Wall Street Journal citing employees and an internal memo that was described to the paper, Wells Fargo also let employees know about the reorganization to better manage risk. Its expected to include a civil penalty stemming from the risk controls at the company, noted the report.

Risk Management 100

Risk Management Management Compliance Groups 100

PYMNTS

JUNE 11, 2018

Change across the regulatory compliance landscape is de rigueur, and global in scope. In this case, suspicious transactions had not been reported, and the fine was tied to transactions that funneled funds from sales of drugs and firearms. Closer to home, in the U.S.,

Regulation 100

Regulation Community Bank Lending Industry 100

Independent Banker

JULY 28, 2016

Establishing a comprehensive Compliance Management System. Does it sound like “reality compliance”? The demands of managing regulatory compliance are uncontested, and depending on the disposition of the participants inside and outside of the bank, compliance management exists with varying degrees of problems and adversity.

Compliance 70

Compliance Training Community Bank Regulation 70

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. It can also reduce the time spent on documenting decisions and report writing. keep me informed.

Survey 195

Survey Software Resources Meeting 195

CFPB Monitor

APRIL 8, 2016

Director Cordray cited to his remarks last month to the Consumer Bankers Association in which he called it “compliance malpractice” for companies not to look at CFPB consent orders with others to assess their own compliance. Such data includes the race, sex, and ethnicity of the principal owners of the business.)

Lending 60

Lending Fintech Company Policies 60

Independent Banker

SEPTEMBER 25, 2014

Saving money by conducting inside risk management and compliance reviews. As a group, community banks spend substantial funds hiring outside consultants to help with various management functions, and a substantial share of dollars are spent to help oversee their risk management and compliance activities.

Community Bank 70

Community Bank Compliance Risk Management Community 70