Abrigo

DECEMBER 22, 2023

download NOW Takeaway 1 The most popular blog posts on the Abrigo site reflect many of the priorities community banks and credit unions had in 2023. Takeaway 3 Articles specific to small community banks were among the most-read blogs, with best practices for construction lending at the top of the list.

Lending 221

Lending Risk Management Community Management 221

PYMNTS

JUNE 4, 2019

“We are really good at regulatory compliance,” Lyric Co-Founder and Chief Executive Officer Andrew Kitchell said in an interview with Bloomberg. The startup is fully compliant in all 13 cities it operates in, he said. “We When they travel they don’t just want a place to sleep, but they want to be connected to the local community.

Compliance 109

Compliance Innovation New York San Francisco 109

Abrigo

MAY 24, 2023

Bipartisan support The SAFE Banking Act's long road to the Senate Many in the AML/CFT community have been watching the unfolding of the Secure and Fair Enforcement (SAFE) Banking Act for some time now with no significant progress. Sherrod Brown, D-Ohio, in the same hearing.

Lending 195

Lending Fraud Operations Ohio 195

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. increased operational risks. By Karen Hoffman. Be aware of existing or emerging risk concerns.

Compliance 101

Compliance Regulation Community Bank Community 101

Jeff For Banks

APRIL 4, 2024

Shadow Banking refers to banking-like operations that take place outside of the mainstream banking industry. Although shadow banking mostly serves larger corporations, think money market funds buying commercial paper, bankers fear the trend will continue going downstream to more traditional community bank customers.

Banking Trends 117

Banking Trends Trends Millennials Oregon 117

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. In a perfect merger, both banks are compliant, risk-based, and consistent with each other’s policies and procedures. Proactive Planning.

Compliance 195

Compliance Policies Fraud Analysis 195

Independent Banker

NOVEMBER 30, 2022

Stacy Watkins (left), president and CEO, and Hilary Nelson (right), senior vice president and director of operations and compliance, at the Las Vegas Strip. When it comes to supporting outliers in the Las Vegas community, Lexicon Bank knows how to play its cards. Photo by Sammy Tillery. By Tom Groenfeldt. Name: Lexicon Bank.

Las Vegas 129

Las Vegas Community Bank Community Wisconsin 129

CFPB Monitor

AUGUST 5, 2019

Supreme Court ruling in Texas Department of Housing and Community Affairs v Inclusive Communities Project, Inc. In 2018, HUD issued an advance notice of proposed rulemaking seeking comment on whether the Rule should be revised in light of the 2015 U.S.

Community 68

Community Policies Compliance Regulation 68

Abrigo

JULY 13, 2023

Crafty scammers exploit weaknesses in fraud and anti-money laundering (AML) compliance programs such as outdated technology, human error, or inadequate monitoring systems. Regularly reviewing and improving policies and procedures is essential to stay one step ahead of emerging threats. Explain the types of fraud schemes circulating.

Fraud 195

Fraud cryptocurrency Training social media 195

PYMNTS

JULY 7, 2020

“While well-intended at the time, conflicts stemming from local law enforcement agencies applying their own interpretations of conflicting state and local mandates forced retailers to shift valuable time and resources away from store operations.

Retail 151

Retail Groups social media Policies 151

PYMNTS

DECEMBER 2, 2019

Nonprofit organizations are responsible for providing multiple community services, including access to shelters, clothing, food and clean water, as well as educational and mental health resources. Tax-exempt organizations must carefully follow the legal regulations that enable them to operate as 501(c)(3) charities.

Management 141

Management Taxes Groups Regulation 141

CFPB Monitor

JUNE 13, 2022

s review of its bank merger policies. The ABA acknowledged that CRA compliance issues are appropriate considerations in bank merger applications, but that the prudential regulatory agencies are already assigned authority under the Bank Merger Act to evaluate such issues.

FDIC 78

FDIC Groups Community Meeting 78

Abrigo

APRIL 12, 2016

Directors overseeing a bank’s operations are important partners in supervisory efforts, the FDIC noted in the article (“A Community Bank Director’s Guide to Corporate Governance: 21st Century Reflections on the FDIC Pocket Guide for Directors.”). Poor operating results 10. Low capital levels or poor access to new capital 11.

Management 150

Management FDIC Risk Management Community Bank 150

PYMNTS

APRIL 26, 2018

Corporations are bracing for major changes to their operations, and many will miss the May 25 deadline as they struggle to overcome challenges related to key components of the new rules, including data breach notification. Seventy-one percent said they are aware noncompliance could be detrimental to their companies’ international operations.

Data 148

Data Compliance Survey Regulation 148

Independent Banker

SEPTEMBER 25, 2014

A community bank’s practical guide to compliance cost control. When it comes to reducing compliance costs, recommendations typically fall into complicated territory. Few community banks have the luxury of ripping and replacing their entire compliance management strategy, leaving many executives on the hunt for practical tips.

Community Bank 105

Community Bank Compliance Community Resources 105

Independent Banker

AUGUST 31, 2022

Community banks can get up to speed on current legislation and regulations to both protect their customers from unauthorized or false deposit account transactions and to prevent them from happening in the future. What should a community bank do about erroneous, fraudulent or unauthorized transactions reported on a consumer’s deposit account?

Community Bank 91

Community Bank Regulation Community Training 91

Independent Banker

SEPTEMBER 30, 2021

Changing customer banking habits means it’s more important than ever for community banks to use every tool at their disposal. Community banks may have longstanding relationships with their core vendors, but that doesn’t always mean they keep up to date on all the latest features and functionalities. “But billion-asset community bank.

Community Bank 91

Community Bank Community Milwaukee Jacksonville 91

Abrigo

FEBRUARY 5, 2015

While the report recognizes that customer demands and competition from non-traditional banks will shape banking’s future, the report also recognizes that regulatory expectations and scrutiny will continue to increase, for both traditional community banks and non-bank entities that try to enter banking. Blog Bank Credit Union'

Compliance 150

Compliance Software Community Bank Policies 150

Abrigo

JUNE 19, 2022

Takeaway 1 The ELE tool for CECL from the Fed is aimed at reducing the operational burden of implementation ahead of the 2023 deadline. . And while regulators said some institutions would find the ELE tool useful for CECL, they acknowledged it did not represent a preferred method of regulators or a “safe harbor” method for GAAP compliance.

Tools 195

Tools Regulation Data Resources 195

Abrigo

JULY 10, 2023

As we harness the power of AI to enhance operational efficiency, detect patterns, and optimize decision-making processes, financial institutions must remain vigilant. Best practices Addressing AI fraud in your policies AI fraud can be particularly tricky because it impacts how financial institutions verify customers’ identities.

Fraud 150

Fraud How To social media Security 150

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

PYMNTS

SEPTEMBER 5, 2017

But that doesn’t mean these legislative efforts endure without disruption to the business community at large. 5), The Workforce Institute at Kronos published its latest research that aims to put a price tag on regulatory changes for the business community. Today (Tuesday, Sept.

Compliance 118

Compliance Survey Training Regulation 118

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

CFPB Monitor

OCTOBER 9, 2018

The Statement clearly is addressed primarily to community banks, for which the costs of AML/BSA compliance can be significant, and which presumably engage in “less complex operations [and have] lower risk profiles for money laundering or terrorist financing.” Sharing resources in no way relieves a bank of this responsibility.

Resources 68

Resources Compliance Community Bank Community 68

Social Assurance

DECEMBER 31, 2020

2020 saw compliance teams adapting to dramatic change and new processes. But how will compliance teams change in 2021? To help answer these questions, Social Assurance recently sat down with Charles LeFevre, Chief Operations and Client Experience Officer for Fidelity Bank. Making Compliance Cool with Charles LeFevre.

Compliance 15

Compliance Customer Experience Meeting Branding 15

Independent Banker

SEPTEMBER 21, 2015

ICBA’s in-depth certification programs vault compliance officers to the highest standards. imberly Anderson, senior vice president and chief administrative officer of Cañon National Bank in southern Colorado, became her community bank’s loan compliance officer in 2003. By Ed Avis. I think that’s very important.”.

Compliance 70

Compliance Community Bank Community Training 70

Independent Banker

JANUARY 28, 2016

Lilly Thomas, ICBA’s vice president–senior regulatory counsel, talked with Independent Banker about what impact the high court’s ruling could have on the fair lending examinations for community banks in the year ahead. Borrowers must not only show a disparate impact but must also tie that claim to a specific policy or policies.

Policies 70

Policies Lending Community Analysis 70

Independent Banker

JANUARY 31, 2022

The FedNow Service is launching in early 2023, giving community banks about a year to plan. Here’s how community bankers, payments experts and fintech vendors suggest using the time to prepare. With less than a year until the scheduled launch of the FedNow Service, community banks are still awaiting updates on specifics. “And

Community Bank 91

Community Bank Community Resources Fraud 91

CFPB Monitor

JULY 5, 2022

through the CFPB’s Compliance Assistance Sandbox (CAS) Policy. The CFPB has issued an order terminating the approval order issued in December 2020 to Payactiv, Inc. a)(14) of Regulation Z, and that Payactiv therefore had a safe harbor from liability under the TILA and Regulation Z in connection with the specified EWA program.

Regulation 78

Regulation Policies Innovation Analysis 78

Gonzobanker

OCTOBER 26, 2021

Whatever the good intentions of these new mandates, any new compliance orders require resources, change management, and an understanding of the unintended risks that could arise. Yet, bankers must be fully aware that mergers will be viewed not just from a book value accretion lens, but more piercingly through an ESG and social policy lens.

Leadership 97

Leadership Compliance Strategy Branding 97

Independent Banker

OCTOBER 31, 2021

The CARES Act extended the CECL implementation deadline for many larger community banks until the end of the COVID-19 pandemic. Community bankers tell us that while the extension is welcome, they’re already down the road to implementation. ICBA tells FASB CECL isn’t feasible for community banks. By Stephanie Vozza. April 2011.

Community Bank 91

Community Bank Community Software New York City 91

Abrigo

NOVEMBER 9, 2022

How has CECL implementation impacted their operations and reserves for credit losses? 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. CECL's impact on operations.

Survey 195

Survey Software Resources Meeting 195

Independent Banker

SEPTEMBER 30, 2021

But for most community banks, building a trustworthy brand isn’t a conscious effort. So first, we’ll look at how two community banks have become trusted pillars of the community through charity work and good old?fashioned billion-asset community bank. Build your community. It’s in their DNA.

Community 139

Community Community Bank social media Security 139

Abrigo

JUNE 5, 2023

In addition, even before the recent banking troubles, regulators have emphasized the financial institution’s responsibility to provide leaders with information on key areas of planning, operations, and risk management. the Community Bank Leverage Ratio (CBLR) and the minimum Tier 1 leverage ratio).

Report 195

Report Risk Management Capital Data 195

CFPB Monitor

FEBRUARY 13, 2017

The FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B. With respect to research and policy development, the letter discusses the following initiatives: Auto survey. Report on fraud in African American and Latino communities.

Report 68

Report Big Data Lending Survey 68

CFPB Monitor

SEPTEMBER 21, 2015

The CFPB announced the appointment of new members to its Consumer Advisory Board, Community Bank Advisory Council, and Credit Union Advisory Council. New members to the Consumer Advisory Board will serve three-year terms and new members to the Community Bank and Credit Union Advisory Councils will serve two-year terms. Kathleen C.

Groups 60

Groups Los Angeles San Francisco Community Bank 60

CFPB Monitor

JANUARY 12, 2021

Volume I (798 pages) contains a historical and economic overview of consumer finance, covers the key principles guiding federal consumer financial law and policy, and discusses particular topics that the Taskforce considers important to the Bureau’s work. The report consists of two volumes. Enforcement.

Report 78

Report Regulation Policies Compliance 78