Abrigo

MARCH 2, 2023

Banking technology decisions now affect future growth With the possibility of a recession, community financial institutions may consider a delay or cut in technology spending. Takeaway 2 According to Forrester data, firms pursuing technology-driven innovation grow three to four times faster than industry averages.

Technology 195

Technology Lending Community Software 195

Abrigo

SEPTEMBER 22, 2015

Many community banks see this as a welcomed move towards offering smaller institutions some relief from the regulatory pressures of their larger, national counterparts. Laura Stewart, CEO of Sound Community Bank in Washington said of preparing the call report: "It almost feels like a full-time job."

Community Bank 150

Community Bank Community FDIC Survey 150

BankInovation

OCTOBER 1, 2020

The Federal Deposit Insurance Corporation (FDIC) has taken steps to promote fintech partnerships and diversity and inclusion within the financial services industry, both internally at the FDIC and among the institutions it regulates, FDIC Chairwoman Jelena McWilliams said during the LendIt Fintech USA 2020 conference Wednesday.

FDIC 52

FDIC Fintech Innovation Conference 52

CFPB Monitor

MARCH 25, 2020

On March 23, 2020, the FDIC’s Office of Minority and Women Inclusion (OMWI) announced that it will request 2019 diversity self-assessments from FDIC-regulated financial institutions. The FDIC regulates insured state banks that are not members of the Federal Reserve System and insured state thrifts.

FDIC 60

FDIC Policies Regulation Training 60

CFPB Monitor

DECEMBER 19, 2019

The OCC and FDIC have issued a joint proposal to revise their regulations implementing the Community Reinvestment Act (CRA). Although the Federal Reserve, OCC and FDIC, are the primary CRA regulators, the Fed did not join the proposal and presumably will issue a separate proposal. ” Click here to register.

FDIC 78

FDIC Regulation Community Retail 78

Independent Banker

SEPTEMBER 25, 2014

Anticipating what’s new for your community bank’s next field examination. This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. As Barr points out, most community banks—close to 75 percent—are now growing their loan portfolios.

Compliance 101

Compliance Regulation Community Bank Community 101

American Banker

APRIL 28, 2024

Three industry groups are suing the state in an effort to stop its attempted crackdown. The Federal Deposit Insurance Corp. is arguing that Colorado has the right to establish an interest rate cap that all state-chartered banks must follow.

Colorado 36

Colorado FDIC Groups Industry 36

Abrigo

JANUARY 8, 2016

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

Jeff For Banks

DECEMBER 10, 2023

And I am weary of the persistent "get big or get out" mentality of many industry pundits. Although one might argue that First Citizens BancShares of Raleigh is a SIFI as it climbed to the 19th largest in the country with its Silicon Valley Bridge Bank acquisition from the FDIC, and that the FDIC designated SVB as systemically important.

Fresno 103

Fresno North Carolina Raleigh FDIC 103

Independent Banker

OCTOBER 1, 2022

AmTrust recently worked with one community bank client that was the target of a ransomware attack that shut down its branches for two weeks. One of the biggest benefits of a cyber policy, especially for a smaller community bank, is access to experts,” says Gentile. That has been the exact opposite of my experience.

Montana 152

Montana Policies Resources FDIC 152

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. By Vanessa Drucker.

Community Bank 70

Community Bank Compliance Risk Management Community 70

FICO

JANUARY 13, 2020

banking industry in the 2020. . Industry is anxious for some clear rules of the road, including resolution on such issues as to how many attempted calls can be made weekly to a debtor and how collectors can leverage modern communications technology (e.g., The CFPB will issue its final debt collection rule in the fall of 2020.

Policies 52

Policies Las Vegas FDIC Washington 52

NCR

AUGUST 31, 2016

Most banks have at least one compliance officer who possesses a cursory knowledge of the mortgage finance arena. Few banks, however, have an entire team of dedicated mortgage QC and compliance experts, so they either have to hire this expertise or outsource it. Mortgage compliance does not come cheap.

Community Bank 49

Community Bank Community Guidelines Compliance 49

ForwardBanker

APRIL 30, 2018

Long before the Great Recession made everyone in the banking industry rethink nearly everything about how they did business, numerous community banks were highly dependent on CRE loans for revenue. The post How Community Banks Can Resecure Their CRE Lending Business appeared first on Deluxe FS.

Community Bank 33

Community Bank Community Lending Industry 33

CFPB Monitor

JUNE 15, 2020

On May 20, 2020, the OCC issued a final rule to “strengthen and modernize” its existing Community Reinvestment Act (“CRA”) regulations. of Community Development Fund Advisors. Thomas, Ph.D., Click here for more information and to register.

Community 60

Community FDIC Lending Examples 60

Jeff For Banks

DECEMBER 16, 2022

And I am weary of the persistent "get big or get out" mentality of many industry pundits. The bank consists of two segments: 1) the traditional community bank, and 2) CCBX, which is its Banking as a Service (BaaS) division started in 2018. Not so over the eleven years I have been keeping track. Triumph Bancorp, Inc. Nasdaq: TBK) #4.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

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. For community banks specifically, they’re already reserving for a lifetime of credit losses,” he said.

Survey 195

Survey Software Resources Meeting 195

Independent Banker

FEBRUARY 24, 2016

Just about every community bank makes commercial real estate loans. A whopping 95 percent of ICBA members are active commercial real estate (CRE) lenders, according to the latest ICBA Community Bank Lending Survey. Regulatory oversight is nothing new for Chris Courtney, president and CEO of Oak Valley Community Bank in Oakdale, Calif.

Community Bank 70

Community Bank Lending Community Regulation 70

FICO

DECEMBER 20, 2018

Indeed, we are already starting to see signs of distress among community and regional banks that lack the advertising budgets and sophisticated digital capabilities of the big national banks. As always, FICO stands ready to help your organization navigate our rapidly changing industry. Payday Lenders Will Face More Robust Competition.

Trends 73

Trends Lending Fraud Exercises 73

Jeff For Banks

JUNE 1, 2015

But with most areas that are outside of my technical expertise but within my industry expertise, I tend to revert to common sense. The FDIC Pocket Guide for Directors identifies the Board's responsibilities as: - Select and retain competent management. Ensure the institution helps to meet its community's credit needs. .

FDIC 60

FDIC Industry Groups Management 60

Independent Banker

JANUARY 31, 2023

Illustration by Jozefmicic/Adobe The CFPB recently issued new guidance on overdraft fees that was unanticipated by community banks. Learn what this means for the industry and how community banks can stay in compliance. Sound compliance management requires consistent written disclosures, procedures and actual practices.

Community Bank 91

Community Bank Community Compliance Regulation 91

Gonzobanker

AUGUST 22, 2014

While we may see an uptick in the number of new bank charters from the near zero we have today, too many other industries with less regulation will attract capital. This simply won’t cut it in the fast-consolidating, commoditized industry we call banking today.

Strategy 87

Strategy United States Community New York City 87

Jeff For Banks

OCTOBER 13, 2011

In keeping up with industry reading it is clear to me that we, as an industry, are perplexed at what to do about branching. The recently released FDIC Summary of Deposits showed the second year of branch decline. Smaller is certainly a theme I am hearing from bankers and industry professionals. That''s right.

Branch Strategies 71

Branch Strategies New Jersey Strategy Capital 71

Independent Banker

AUGUST 26, 2015

Community banks and their customers don’t need to be concerned about the legality of digitally signed documents. Webster says FDIC officials had “no issue” with the mortgage company’s use of electronic signatures during a recent exam of PrivatePlus Mortgage. Legal aspects. Fewer errors.

San Francisco 70

San Francisco Lending System Atlanta 70

Independent Banker

SEPTEMBER 22, 2015

In June, five federal agencies (including FDIC, Office of the Comptroller of the Currency and the Federal Reserve) announced approval of a final rule that modifies regulations applying to loans secured by properties located in special flood hazard areas. There is an exception that will be key for many community banks to understand.

Regulation 70

Regulation Policies Community Bank Taxes 70

CFPB Monitor

DECEMBER 7, 2022

The hearing was held to discuss historical and ongoing discrimination in the financial services industry, and the roles of Congress and regulators in addressing these issues. The witness list did not include any representatives of the financial services industry testified. . The witnesses included: Ms.

Community 78

Community Compliance Industry National 78

South State Correspondent

APRIL 1, 2023

Deposit outflows for the prior week were revised upwards to show a combined decline of $64B, including $185B from community banks—the Fed included a notice with the release stating that data for the week ending March 15 were revised to account for a change in how FDIC bridge banks were incorporated into the community bank data.

Regulation 221

Regulation Community Bank Community Capital 221

Abrigo

DECEMBER 22, 2023

Watch NOW Takeaway 1 Portfolio risk and accounting professionals often keep up to date on industry trends by reading Abrigo's blog. Loss given default (LGD) expresses the expected loss as a percentage and is unique to the industry or segment. The FASB’s description of proposed changes can be found here.

Risk Management 221

Risk Management Regulation Management Lending 221

Abrigo

SEPTEMBER 14, 2022

The data is intended to help the CFPB enforce fair lending laws and could also be used by the government and small business lenders to identify the needs of businesses, said Michelle Lucci, Abrigo Regulatory Compliance Manager. In fact, it took a lawsuit initiated by a California community group in 2019 to get things moving.

Lending 195

Lending Data Regulation Community 195

CFPB Monitor

JUNE 25, 2020

On May 20, 2020, the OCC issued a final rule to “strengthen and modernize” its existing Community Reinvestment Act (“CRA”) regulations. The final rule is effective October 1, 2020 but sets mandatory compliance dates based on the applicable performance standards. This is the second in a series of five blog posts about the final rule.

Community 97

Community Lending Meeting Retail 97

Independent Banker

JUNE 30, 2022

Last year, community bank loan producers were faced with both record-low interest rates and a glut of deposits. But as they always do, they came through for individuals and businesses in their communities with a combination of personalized service and prudent risk management practices. First Community Bank of the Heartland, Inc.

Community Bank 172

Community Bank Community National Philadelphia 172

American Banker

JULY 13, 2016

Millennium Bank is said to have been the target of an enforcement action related to its work with the pot industry. The episode shows why many banks remain reluctant to serve the fast-growing cannabis industry.

Illinois 28

Illinois Industry FDIC Community Bank 28

Jeff For Banks

MARCH 29, 2014

We believe we can effectively compete as a community bank in our market area and the niche markets we serve. We serve the dental and other health professional industries through a centralized loan and deposit platform that operates out of our main office in Dallas, Texas and serves clients in 30 states. Department of Agriculture.

Strategy 101

Strategy Texas San Antonio Fort Worth 101

Jeff For Banks

MARCH 3, 2014

I learn a lot from bankers and industry experts as I visit their offices, speak to them on the phone or at industry events. Since I estimate my Twitter community only reads about 10% of their tweet stream, and so many of my blog readers do not follow Twitter, below are selected quotes that I tweeted since version 6.

Branch Strategies 89

Branch Strategies FDIC Strategy Industry 89

PYMNTS

FEBRUARY 14, 2019

Despite 47 states having some form of legalized marijuana for sale, the legal cannabis industry exists in a state of potentially dangerous uncertainty when it comes to financial services. But banks, credit unions and card networks shy away from that industry, despite its revenue potential, due to concerns about federal regulatory punishment.

Oregon 230

Oregon Colorado Operations Washington 230

PYMNTS

FEBRUARY 13, 2019

13), banking and credit union executives, along with representatives from law enforcement and the cannabis industry, went before lawmakers to argue in favor of change. But banks, credit unions and card networks — understandably —shy away from that industry despite its revenue potential due to concerns about federal regulatory punishment.

Oregon 115

Oregon Colorado Operations Washington 115

CFPB Monitor

OCTOBER 13, 2020

Supporters point out the Proposed Rule would result in strong and consistent supervision of bank-fintech partnerships across the country, ensuring fairness and compliance with applicable laws, and note the Proposed Rule would keep the costs of credit down and encourage innovation.

Lending 60

Lending Colorado FDIC National 60