Independent Banker

JANUARY 26, 2016

The FDIC has released a proposal to indemnify the banks with assets less than $10 billion from the costs of raising the Deposit Insurance Fund reserve ratio from 1.15 The provision will ultimately provide thousands of community banks a reduction in deposit-insurance premiums of up to 30 percent. Farm Credit System. percent to 1.35

FDIC 70

FDIC Community Bank Community Lending 70

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

Abrigo

APRIL 12, 2016

The FDIC is offering a fresh take on how a bank’s board of directors should understand and manage risk. The regulator’s April edition of Supervisory Insights provides what the FDIC called a “refresher” on its Pocket Guide for Directors, the 1988 booklet outlining the basic duties and responsibilities of a bank’s board of directors.

Management 150

Management FDIC Risk Management Community Bank 150

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

CFPB Monitor

SEPTEMBER 14, 2021

Last week, the Federal Reserve Board published a paper on partnerships between community banks and fintech companies, “Community Bank Access to Innovation through Partnerships.” Customer-oriented partnerships in which a community bank engages a fintech to enhance various customer-facing aspects of its business (e.g.,

Fintech 78

Fintech Community Bank Community FDIC 78

Jeff For Banks

DECEMBER 10, 2023

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. Communities First Financial Corporation (Now FFB Bancorp) (OTCQX: FFBB) #2.

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. System configuration: Securely configure systems and services.

Montana 152

Montana Policies Resources FDIC 152

Abrigo

JULY 10, 2023

An example of a rising AI fraud scheme is using voice-to-text technology, such as Microsoft’s new Vall-E Text-to-Speech System. Your financial institution can help build awareness and encourage best practices for protecting personal information by providing educational materials to your community.

Fraud 150

Fraud How To social media Security 150

Perficient

JUNE 10, 2022

According to the Comptroller, the architecture for a stablecoin system can be viewed through the lens of three key policy issues: Stability. One of the greater concerns, in both the crypto community as well as financial regulators and government, is the value stability of the crypto asset. Interoperability. Separability.

blockchain 275

blockchain Regulation Policies FDIC 275

PYMNTS

MAY 22, 2018

2155, would raise the threshold for a systemically important financial institution (SIFI) to $250 billion in assets from $50 billion. It’s going to be easier for banks to serve their customers, clients and communities — that’s what’s most important.”. The Economic Growth, Regulatory Relief, and Consumer Protection Act , S.

Regulation 100

Regulation Regional Community Community Bank 100

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

CFPB Monitor

AUGUST 4, 2020

Among other things, the examination procedures instruct examiners on how to assess the effectiveness of a bank’s compliance management system in managing UDAP and UDAAP risks, and provides red flags and risk indicators that can be used to identify acts or practices that may raise UDAP/UDAAP concerns.

Handbook 78

Handbook Regulation CA Exercises 78

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

CFPB Monitor

APRIL 1, 2021

In what could be an important step towards needed regulatory updating to accommodate the growing use of artificial intelligence (AI) by financial institutions, the CFPB, FDIC, OCC, Federal Reserve Board, and NCUA issued a request for information (RFI) regarding financial institutions’ use of AI, including machine learning (ML). Uses of AI.

Risk Management 78

Risk Management Training Lending FDIC 78

Jeff For Banks

DECEMBER 16, 2022

Communities First Financial Corporation (OTCQX: CFST) Communities First Financial Corporation is the bank holding company for Fresno First Bank , which opened in December 2005 dedicated to meeting the banking needs of businesses, professionals, and successful individuals in Central California. 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

AUGUST 26, 2015

Community banks and their customers don’t need to be concerned about the legality of digitally signed documents. Anti-fraud measures also are built into electronic signature systems. Webster says FDIC officials had “no issue” with the mortgage company’s use of electronic signatures during a recent exam of PrivatePlus Mortgage.

San Francisco 70

San Francisco Lending System Atlanta 70

Gonzobanker

AUGUST 22, 2014

The costs of regulatory compliance, investments in new technology, investments in physical and digital channels, and thinning industry margins mean banks will need to be of a “certain” size to succeed long term. Once the filters are in place, tools like the FDIC Web site or SNL can help you produce your target list.

Strategy 87

Strategy United States Community New York City 87

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

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

DECEMBER 7, 2022

As a reminder, in March 2022, the CFPB updated its exam manual and announced, “In the course of examining banks’ and other companies’ compliance with consumer protection rules, the CFPB will scrutinize discriminatory conduct that violates the federal prohibition against unfair practices.”

Community 78

Community Compliance Industry National 78

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

OCTOBER 12, 2016

Heightened regulatory scrutiny, stricter credit-quality reviews by buyers themselves, cautiousness over systems conversions and other factors have added about three weeks to deal closings in recent years. There are inherent risks in that trend and ways to minimize them.

Trends 28

Trends System FDIC Community Bank 28

CFPB Monitor

MAY 7, 2020

No-Action Letter Policy) to address potential compliance issues. The Bureau focused on assessing whether (1) there is discrimination in the application, underwriting, and pricing processes, (2) creditors are redlining, and (3) there are weaknesses in fair lending related compliance management systems. Small business lending.

Lending 78

Lending Report FDIC Policies 78

Jeff For Banks

MARCH 29, 2014

These services are provided through a variety of delivery systems including automated teller machines, private banking, telephone banking and Internet banking. We believe we can effectively compete as a community bank in our market area and the niche markets we serve. The Bank also offers wealth management and trust services.

Strategy 101

Strategy Texas San Antonio Fort Worth 101

PYMNTS

FEBRUARY 14, 2019

The hearing itself was a small victory for proponents who wish to open up the banking system to legal pot operators. Such prohibition could involve limiting FDIC protections for those deposits, for example, or trying to prevent loans to those businesses. House hearing on Wednesday (Feb.

Oregon 230

Oregon Colorado Operations Washington 230

CFPB Monitor

DECEMBER 17, 2021

On December 4, 2022, the OCC issued a final rule that rescinds its June 2020 Consumer Reinvestment Act (CRA) final rule and replaces it with a rule that is largely based on the OCC’s 1995 CRA rule that was adopted jointly with the Federal Reserve Board and FDIC. The final rule is effective January 1, 2022.

FDIC 78

FDIC Compliance System Community 78

PYMNTS

FEBRUARY 13, 2019

The hearing itself was a small victory for proponents who wish to open up the banking system to legal pot operators. Such prohibition could involve limiting FDIC protections for those deposits, for example, or trying to prevent loans to those businesses. House hearing on Wednesday (Feb.

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

FICO

DECEMBER 19, 2018

I expect the FCC to issue a declaratory ruling in the first half of 2019 that will provide much needed clarity around the definition of Automatic Telephone Dialing System. Regulators Will Make Major Strides Towards Reaching Consensus on Modernizing the Community Reinvestment Act. The next step?

Policies 40

Policies District of Columbia Regulation California 40