Texas judge blocks updated CRA rules
American Banker
APRIL 1, 2024
A federal judge in Texas sided with bank trade groups, agreeing that bank regulators might have overstepped their authority in reforming parts of the Community Reinvestment Act.
Trade groups urge CFPB to extend Texas federal court’s stay of small business lending rule compliance dates to all FDIC-insured banks
CFPB Monitor
AUGUST 3, 2023
Yesterday, we published a blog post in which I urged the CFPB to agree to extend the relief granted by the Texas federal district court in the lawsuit challenging the CFPB’s final small business lending rule (Rule) to all entities covered by the Rule.
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OCC Releases CRA Evaluations for 16 National Banks and Federal Savings Associations
Perficient
JULY 7, 2021
The Office of the Comptroller of the Currency (OCC) has released 16 Community Reinvestment Act (CRA) performance evaluations. A compliance rating of either “Outstanding,” “Satisfactory,” “Needs to Improve,” and “Substantial Noncompliance” is awarded at the end of the on-site review.
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AML human trafficking red flags and other ways banks can support victims
Abrigo
JANUARY 17, 2024
Takeaway 2 AML staff should recognize human trafficking red flags and know their customers well to help detect suspicious activity in their communities. One issue that hurts people and communities everywhere is human trafficking, and January is Human Trafficking Awareness Month.
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Community banks are thriving in Texas
Independent Banker
JANUARY 31, 2022
With the record growth of San Antonio, Houston and Austin, southern Texas is becoming a hub for business. Here’s how four community banks are thriving in this environment. There’s a lot of energy in the southern half of Texas, and it’s not just the resources that power our homes and cars. Photo by Dennis Burnett.
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Small banks: Big challenges and big opportunities
Abrigo
FEBRUARY 23, 2023
Relationship focus helps CFIs Small banks can leapfrog competitors and better serve their communities by combining their unique advantages with smart management and partnerships. How can community financial institution leaders manage their challenges and seize their opportunities at the same time?
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5 reasons your financial institution should attend the ThinkBIG 2024 conference
Abrigo
JANUARY 30, 2024
REGISTER Takeaway 1 Banking and compliance professionals rely on ThinkBIG to elevate their understanding of industry shifts and regulatory pressures. Banking and compliance professionals rely on the annual conference to elevate their understanding of industry shifts and regulatory pressures that hammer them daily.
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OCC, Texas bank enter into formal agreement tied to BSA compliance
American Banker
JUNE 19, 2020
CBTX in Houston must develop policies and procedures, along with a training program, to address deficiencies in its bank's compliance with the Bank Secrecy Act.
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State Governments Deliver Mixed Messages On Reopening Retail
PYMNTS
MAY 7, 2020
As the week plays out, inconsistent direction and confusion have been standard with New York, Texas, California and Hawaii getting criticized by retailers big and small. We believe those local communities that have separate timelines should be afforded the capacity to advance those timelines. For example, the Bay Area.
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U.S. Chamber of Commerce and other trade groups file lawsuit against CFPB challenging UDAAP update to exam manual
CFPB Monitor
SEPTEMBER 30, 2022
Chamber of Commerce, joined by six other trade groups, filed a lawsuit yesterday in a Texas federal district court against the CFPB challenging the CFPB’s recent update to the Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) section of its examination manual to include discrimination.
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Fight between OCC and upside-down Texas bank boils over
American Banker
JANUARY 18, 2024
Industry Bancshares' bond portfolio is massively underwater, and one of its regulators says the company is in "troubled condition." But Industry says it was already working on fixes prior to the OCC's intervention, which it calls an "unfortunate example of regulatory overreach."
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Proposed changes to HUD disparate impact rule would create new burden-shifting framework to reflect Inclusive Communities
CFPB Monitor
AUGUST 5, 2019
Supreme Court ruling in Texas Department of Housing and Community Affairs v Inclusive Communities Project, Inc. Initially filed in 2013, the plaintiffs filed an amended complaint following Inclusive Communities to allege that the Rule was inconsistent with that opinion.
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Budget Surplus? 5 Ways to Invest in Your Financial Institution with This Year’s Excess Budget
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. It's "business as usual" as far as expectations for compliance staff to remain alert for illicit financial activity. billion from $515.3
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FinCEN announces $8 Million BSA Enforcement Action: The Resurrection of AML Penalties
Abrigo
DECEMBER 20, 2021
Whether that is the case or not, the reprieve is now over. On December 16, 2021, FinCEN announced an $8 million civil money penalty against CommunityBank of Texas (CBOT) for willful Bank Secrecy Act (BSA) violations and failing to maintain an effective anti-money laundering (AML) program. CommunityBank of Texas' citations.
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9 ways to manage credit risk
Independent Banker
JUNE 30, 2022
Effects of the pandemic and other factors creating unpredictability have changed how community banks approach their credit and lending operations. Bankers and industry observers have several recommendations for how community banks can come up with risk ratings and rankings that foster safe growth in a volatile economic climate.
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Education: By Popular Demand
Independent Banker
JULY 29, 2016
The demand for professional development opportunities for community bankers has never been greater. Last year Community Banker University’s eight certification programs provided more than 4,000 community bankers with highly tailored training.
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2021’s Best Community Banks to Work For
Independent Banker
NOVEMBER 30, 2021
Premium benefits packages, professional development and TLC during the pandemic—this year’s winners do everything in their power to keep their community bankers happy and fulfilled. We asked both leaders and staffers to tell us what makes their community banks stand out as employers. Key Community Bank: Leading by example.
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CFPB announces new appointments to advisory groups
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.
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Baptist Church Seeks to Intervene In CFPB Payday Rule Lawsuit
CFPB Monitor
OCTOBER 1, 2018
On September 19, 2018, the Georgia based Cooperative Baptist Fellowship (the “Fellowship”) filed a motion to intervene as a defendant in a case filed by the Community Financial Services Association of America Ltd. and the Consumer Service Alliance of Texas challenging the CFPB’s Payday Rule.
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How to create a seamless core conversion
Independent Banker
MARCH 31, 2022
Faced with several transitional issues, here’s how these community banks gained support from their new providers to adapt to the change. The CEO, CFO, chief lender, chief compliance officer, operation lead, head tellers, branch managers and HR manager of the $330 million-asset community bank participated. asset community bank.
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Executive Order Looms For Social Media Firms On Content?
PYMNTS
AUGUST 19, 2019
The news comes after a federal judge in Texas agreed to requests by the CFPB and a payday lending trade group, the Community Financial Services Association of America (CFSA), to extend the timeframe for enforcement. The compliance date has been pushed back to Nov. District Judge Lee Yeakel. Uber Fined in Colombia.
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CFPB issues statement regarding plans to reconsider payday loan rule
CFPB Monitor
OCTOBER 26, 2018
Earlier today, the Bureau of Consumer Financial Protection released a Public Statement Regarding Payday Rule Reconsideration and Delay of Compliance Date. The Bureau will make final decisions regarding the scope of the proposal closer to the issuance of the proposed rules.
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It Started with a Tweet #SocialMedia #Banks @ICBA
Independent Banker
OCTOBER 14, 2014
According to a statistic released as part of the ICBA 2014 Top 50 Community Bank Leaders in Social Media, nearly 2,500 banks have a Facebook or Twitter presence, and the numbers continue to exponentially grow. It is apparent everywhere you turn that social media is one of the hottest new communications tools in our society.
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Independent Banker
SEPTEMBER 26, 2014
Many community bankers concluded that the EGRPRA is little more than a “check the box” process for regulators. Community Bankers Chosen as CFPB Advisors. The Consumer Financial Protection Bureau named nine community bankers to serve new terms on the bureau’s Community Bank Advisory Council. Starting fresh.
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FTC settles action against D.C.-area auto dealer group over illegal fees and discrimination allegations
CFPB Monitor
OCTOBER 27, 2022
It is worth noting that the Chamber filed its case in a Texas federal district court, so any eventual appeal of that case would go to the Fifth Circuit, which held last week that the CFPB’s funding mechanism is unconstitutional in Community Financial Services Association of America v. Consumer Financial Protection Bureau.
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Small Texas bank that relies heavily on overdrafts moves to curb fees
American Banker
JANUARY 25, 2022
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2021 GonzoBanker Awards
Gonzobanker
DECEMBER 17, 2021
Simultaneously the bank invested in Paladin Fraud, Trabian Technology, and Chartwell Compliance to provide compliance and risk management solutions in the complex and connected web of fintech partnerships. Goes to Eric Sprink, Coastal Community Bank , Everett, Wash. Like how does that play into our communities?
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Texas Court Rules Against CFPB’s Payday Lending Act Delay
PYMNTS
JUNE 13, 2018
A Texas court ruled on Tuesday (June 12) against delaying the compliance date for the Consumer Financial Protection Bureau ’s rule on payday loans. A lawsuit had aimed to block the new federal rules that would limit these short-term loans that some critics say can force people into serious debt. But the U.S.
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Bitcoin Tracker: Easy Access Is ‘Easier’ With ATMS & Gift Cards
PYMNTS
OCTOBER 28, 2016
Not to make them out to be a toast attraction, but the other kiosks can be checked out in New York, New Jersey, Pennsylvania, Texas, Louisiana and Nevada. Coinsource has built an organization that’s built to scale and to do so while meeting or exceeding varying levels of compliance,” said Coinsource CEO and Cofounder Sheffield Clark.
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Efficiency now: 8 smart strategy tips
Independent Banker
JULY 31, 2022
Fallout from recent global events presents an obstacle to generating revenue for community banks. Since COVID-19, profitability planning for community banks has mainly hinged on how the government was coping with the pandemic and the key role financial institutions played in keeping the economy afloat. By Elizabeth Judd.
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CBANC Network Garners $4 Million in Series B Funding
Fintech Labs Insights
DECEMBER 10, 2015
Other investors include Texas Independent Bancshares, Mike Maples, and Adams Street Partners. It counts 7,000 financial institutions as members, which represent 85% of community banks and 33% of credit unions across the U.S. CBANC , a collaborative network for bank and credit union professionals, raised $4 million earlier this week.
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12 Bankers: Is your strategy the same as your competitor?
Jeff For Banks
MARCH 29, 2014
To exemplify, here are three Texas bank''s "Business" and "Business Strategy" sections to their most recently filed 10k. I picked Texas because of their perceived independent streak. We believe we can effectively compete as a community bank in our market area and the niche markets we serve. Texas Capital Bancshares, Inc.
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GonzoBanker Awards 2017
Gonzobanker
DECEMBER 19, 2017
Rainbolt has quietly built a community bank in the past 20 years that is closing in on $2 billion of market cap. For 35 years, Wilmers led M&T with creativity, integrity and the “old-school” wisdom of a community banker who created a $26 billion market cap company. THE BANKING AWARDS. GonzoBanker of the Year – Large Banks.
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101 SourceMedia’s Small Business Banking Conference Show – No Shortage of Innovation
William Mills
DECEMBER 12, 2017
Customer experience, automation, machine learning, artificial intelligence (AI), ease of use, flexibility – all of these were part of the discussions at this year’s SourceMedia’s Small Business Banking Conference in Austin, Texas. 9spokes.com.
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My Maiden Voyage to the ‘Acquire or Be Acquired’ Conference
Gonzobanker
FEBRUARY 18, 2015
While poking fun at attendee diversity, I have to admit I am guessing that for worse (not “for better or worse”), the attendee list is a snapshot that is fairly reflective of who sits in bank board rooms and holds the CEO or CFO spot at most community and mid-size banks. 5 billion is the new floor. Relationships actually mean something.
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Fintech Fundings: 30 Companies Raise $100 Million Week Ending Dec 11
Fintech Labs Insights
DECEMBER 14, 2015
Four Finovate alums were among the bunch: CBANC Network took in $4 million for it’s community bank information network. BankersLab received an undisclosed investment towards its commercial lending training & compliance tools. Community financial institution research network. HQ: Austin, Texas. HQ: Austin, Texas.
Who were ICBA’s Top Lenders of 2022?
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.
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Netspend CEO On Making The B2B Pivot
PYMNTS
NOVEMBER 3, 2020
Knutson said they’re not interested in managing risk and they “really, really don’t want to deal with a lot of the regulatory and compliance issues” that go hand in hand with the provision of financial services. Netspend’s latest deal is with Austin FC , the new Major League Soccer team coming to Austin, Texas.
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Fintech Fundings: 36 Companies Raise $480 Million Week Ending March 18
Fintech Labs Insights
MARCH 22, 2016
million for its compliance tools. Compliance tools for digital interactions. Community platform for investors. HQ: Dallas, Texas. Tags: Lenders, loan administration, service, compliance, lending. It was another busy week for Finovate alums with six raising new funds: StreetShares raised $4.5 SmartAsset raised $3.8
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Populus Financial Group moves for dismissal of CFPB lawsuit and stay pending Fifth Circuit decision
CFPB Monitor
SEPTEMBER 30, 2022
Populus also filed a motion to stay all proceedings in the case pending the Fifth Circuit’ decision in Community Financial Services Association of America Ltd. The trade groups have appealed from the district court’s final judgment granting the CFPB’s summary judgment motion and staying the compliance date for the payment provisions.
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Fintech Fundings: 17 Companies Raise $235 Million Week Ending Sep 25
Fintech Labs Insights
SEPTEMBER 25, 2015
The biggest pure-equity round went to Finovate alum, CoverHound , an insurance portal gaining favor with the VC community. HQ: Austin, Texas. Tags: Enterprise, security, regulations, compliance, fraud protection. Funding to the fintech sector maintained pace this week with another quarter-billion ($234.3 Latest round: $33.3
Washington Watch
Independent Banker
JULY 8, 2015
Absent Congress actively changing the law, however, the Supreme Court has issued a decisive opinion that sets an important precedent on the disparate-impact issue for community banks and the rest of the financial services industry. The case in question— Texas Department of Housing and Community Affairs v.
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70 The 2015 GonzoBanker Awards
Gonzobanker
DECEMBER 22, 2015
Sure, we bought some December options on west Texas crude at $100 a barrel, but it was only with a third of the 401(k)—plenty of time to make that up, right? To those community bankers claiming their growing Compliance departments say no to everything. Community bank marketing resources. Popular Community Bank in Miami.
Fintech Fundings: 30 Companies Raised $330 Million First Week of August
Fintech Labs Insights
SEPTEMBER 1, 2016
HQ: Austin, Texas. Distributed ledgers for financial community. Tags: Institutions, analytics, BI, compliance, security. Source: Crunchbase. Big data analytics for financial institutions. Latest round: $4 million. Total raised: $5 million. HQ: London, England, UK. Source: FT Partners. VaultInvesting. Latest round: $1.55
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