Abrigo

FEBRUARY 14, 2023

You might also like this checklist for preparing for the CFPB 1071 rule DOWNLOAD Takeaway 1 Bank and credit union executives are worried about complying with the CFPB's upcoming final rule on small business loan application data. Visit CFPB 1071 resources for lenders for more on data collection requirements for small business lending.

Data 195

Data Lending Compliance Resources 195

Abrigo

APRIL 7, 2023

DOWNLOAD Takeaway 1 Loan review automation can help reduce or eliminate common efficiency problems that financial institutions face. If the system is not efficient and manual data entry contributes to increased risk, a greater headcount is not the solution. The benefits of a user community Businesses always pursue growth and improvement.

Software 195

Software Lending System Risk Management 195

PYMNTS

JUNE 27, 2017

JB: We’re based in San Diego, a city that not only has a vibrant and fast-paced software and technology community, but also so many great outdoor activities and attractions. Without the smartphone, there would be no mobile payments, and it’s doubtful peer-to-peer lending would have taken off like it has.

Innovation 145

Innovation System Mobile Trends 145

PYMNTS

APRIL 5, 2019

Silicon Valley-based financial services startup Earnin has potentially run afoul of New York State regulators with its payday advance product for consumers. The apps has been popular with consumers, with 10 million downloads thus far in the six years it has been on the market. About half of those were in the last year.

Regulation 100

Regulation New York Lending Capital 100

PYMNTS

DECEMBER 23, 2019

In the December Credit Union Tracker , PYMNTS explores the latest in the world of CUs, including new regulations in Ireland, charitable CU donations for the holiday season, and how emotional marketing is leveling the playing field between CUs and their competitors. CUs are working to build community ties, especially during the holiday season.

Data 131

Data Lending Michigan Regulation 131

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. In a competitive lending environment, many banks and credit unions are concerned about losing good-quality loans if they over-price them.

Conference 195

Conference San Antonio Lending Fraud 195

Abrigo

DECEMBER 17, 2021

DOWNLOAD WHITEPAPER . For banks and credit unions, this often means a deep understanding of regulations and compliance and adhering to the institution's risk management standards. Download Guide. Lending & Credit Risk. Lending & Credit Risk. Lending & Credit Risk. Asset/Liability. Learn More.

Fintech 195

Fintech How To Innovation System 195

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.

Lending 195

Lending Fraud Operations Ohio 195

Abrigo

FEBRUARY 8, 2022

You might also like this downloadable Customer Due Diligence Checklist. DOWNLOAD . Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. Stay up to date on regulations affecting NBFIs and other BSA trends. Regulations & Guidance Forthcoming.

Compliance 195

Compliance Training Regulation Fraud 195

Abrigo

JUNE 28, 2023

DOWNLOAD Takeaway 1 Board members have a responsibility to maintain a safe and sound financial institution, and they rely on the BSA Officer's reports to help. They wear many hats, especially in smaller community banks and credit unions. Here are several types of reports that provide vital information.

Compliance 195

Compliance Fraud Report Trends 195

Abrigo

SEPTEMBER 11, 2023

DOWNLOAD Takeaway 1 With generative AI technology improving by the day, the question is not if the banking industry will utilize it, but when. Strategies for adopting AI at your financial institution Abrigo CTO Ravi Nemalikanti offers insights on how banks and credit unions can begin to utilize generative AI.

Risk Management 195

Risk Management Data Technology Fintech 195

Abrigo

APRIL 19, 2016

In a recent whitepaper (download), the regulator outlined the general approach it will take as it evaluates innovative products, services and processes that OCC-regulated banks may offer or perform. The product complies with laws and regulations, particularly those aimed at protecting consumers.

Innovation 150

Innovation Fintech Risk Management Community Bank 150

PYMNTS

SEPTEMBER 13, 2017

New payment and financial technologies are quickly emerging from the FinTech community, all with the promise of expediting payments and reducing the distance between cross-border trading partners. Other recent API developments aim to offer professionals an efficient way to process payments and remain compliant with local regulations.

Strategy 190

Strategy Report Lending Fintech 190

Abrigo

JANUARY 14, 2021

Takeaway 1 This round of PPP funding focuses on new borrowers in low- and moderate-income communities. . There is no doubt that the COVID-19 global pandemic has challenged communities across the country and has created a significant economic downturn, which has hit small businesses especially hard. PPP Fraud Spikes.

Fraud 195

Fraud Compliance Community Trends 195

Abrigo

AUGUST 3, 2015

The ABA’s 2015 Survey of Bank Compliance Officers , conducted February through March 2015, had participation from more than 450 financial institutions, with almost 80 percent being community banks. ABA president and CEO, Frank Keating, commented that Dodd-Frank has impacted banks, their customers and the communities they serve.

Compliance 150

Compliance Community Bank Community Survey 150

Jeff For Banks

DECEMBER 9, 2020

On October 29, 2020, the New York State Department of Financial Services (DFS) issued a letter to all depositories and non-depositories regulated by them regarding climate change and financial risks. In her letter , Linda Lacewell, the DFS superintendent, said she expected regulated depositories under DFS supervision to: 1.

Lending 78

Lending Regulation Community National 78

Abrigo

MARCH 6, 2015

While federal regulators only require this small number of banks to be subject to these particular stress tests, as outlined in the Dodd-Frank Act following the economic crisis of 2008, stress testing is becoming a critical part of financial institutions’ risk management strategies, regardless of their asset sizes. ” Blog Bank'

Risk Management 150

Risk Management Capital Community Bank Regulation 150

Abrigo

APRIL 7, 2022

Today’s financial marketplace is challenged by increasing regulation, high expectations for fast and mobile financial services, and new fintech companies joining the already competitive arena. Download this three-step AML checklist for mergers and acquisitions. BSA Rules and Regulation. BSA Rules and Regulation.

Compliance 195

Compliance Policies Fraud Analysis 195

Abrigo

DECEMBER 20, 2021

Now is the time for community financial institutions to pay attention. The CBOT penalty is a solid reminder to all community financial institutions that a robust AML program is critical in guarding against money laundering and terrorist financing risks regardless of size and risk. and CDD will be top of regulators' minds for some time.

Resources 195

Resources Texas Analysis System 195

Abrigo

NOVEMBER 9, 2022

You might also like this: "Beyond CECL: Stress testing, ALM, and financial planning" DOWNLOAD. For community banks specifically, they’re already reserving for a lifetime of credit losses,” he said. Use a software tool [and] ensure your auditors and regulators are in the loop on progress.” CECL Regulation. Stress Testing.

Survey 195

Survey Software Resources Meeting 195

PYMNTS

MAY 28, 2018

Yes, the General Data Protection Regulation took the spotlight, debuting in Europe, as had been long anticipated, on May 25. As previously reported, regulators have said they are not ready to enforce GDPR. It wasn’t all about GDPR. Well, a lot of it was.

Regulation 101

Regulation Data Survey Online 101

Abrigo

JANUARY 28, 2016

million and two employees), financial institutions understand the importance of customer and community service. It is needed for lending out to customers, and regulators require certain levels of capital, so it is truly the lifeblood of a bank,” Brown says. Read more by downloading the free whitepaper from Sageworks.

Capital 150

Capital Texas Risk Management Management 150

Social Assurance

JULY 17, 2020

Deadlines for complying with the new OCC CRA regulations are coming. Now is the time to prepare your financial brand for the new regulations if you fall under OCC regulation. Community Spark provides your financial brand the tools to engage, track and share your community impact. Download Timeline.

Compliance 15

Compliance Community Regulation Branding 15

PYMNTS

NOVEMBER 16, 2017

Economic troubles also hit the Manchester community in the late 20th century, as several local banks closed during the recession of the early 1990s. According to Senus, the CU emphasized a “conservative approach” in its lending decisions to emerge successfully from the difficult economic environment. For its part, St. Membership to St.

Millennials 101

Millennials US New Hampshire Resources 101

Abrigo

DECEMBER 28, 2023

Indeed, regulators and management alike focused on these risks more and more in 2023 following the failure of Silicon Valley Bank and repeated rate hikes. Examiner focus: 4 areas to check before credit union and bank exams The March bank failures and increasing risks in the banking environment led to increased scrutiny of and by regulators.

Resources 221

Resources Risk Management eBook Strategy 221

Independent Banker

AUGUST 26, 2015

Legally and operationally, digital John Hancocks come of age in lending. Electronic signatures “absolutely” have helped PrivatePlus Mortgage expand its residential mortgage lending reach nationwide, says Lia Webster. Community banks and their customers don’t need to be concerned about the legality of digitally signed documents.

San Francisco 70

San Francisco Lending System Atlanta 70

PYMNTS

JUNE 10, 2016

Now, the PYMNTS community will cast their votes – and winners across a variety of categories, including the coveted 2016 Alexa Challenge Champ – will be crowned on June 20, 2016 – live. Tons of published data show how few apps consumers really engage with despite how many they may download. Alt Lending. Don’t miss it!

Apple 100

Apple Lending Google Mobile 100

CB Insights

FEBRUARY 20, 2020

Download the free report for all the details. Cloud-based digital lending platform Roostify has been integrating with some of the largest mortgage lenders. This “rebundling” trend is seeing heavy concentration around bank accounts, especially as regulations like Open Banking have made it easier to launch bank accounts.

Fintech 80

Fintech US Lending Cards 80

Lex Sokolin

DECEMBER 25, 2019

Ethereum’s decentralized lending and trading are floating around 2,500 daily users. The lending product above is a bit more complicated. If you withdraw your Ether, you get charged an interest rate determined by an open governance community. Other things like Compound are essentially a securities lending marketplace?

blockchain 52

blockchain Bitcoin Software Lending 52

Abrigo

SEPTEMBER 14, 2022

Financial institutions, fintech companies, and other small business lenders will need to begin collecting a wide array of small business lending data under the Consumer Financial Protection Board’s (CFPB) proposed small business lending data collection rule. Those implementing regulations were coming. If they don’t?

Lending 195

Lending Data Regulation Community 195

Abrigo

DECEMBER 22, 2023

Abrigo's most popular risk management blogs over the last 12 months cover topics that continue to catch the attention of professionals and regulators. As regulators focus on interest rate forecasts used for interest rate risk management, remember that flattening, steepening, or inverting yield curves can influence your projections.

Risk Management 221

Risk Management Regulation Management Lending 221

Abrigo

MARCH 17, 2022

The Stress Test Scenarios for Big Banks Are Useful for Smaller Institutions' Own Tests Banking regulators recently released the 2022 scenarios for upcoming stress tests by the biggest banks. The 2022 stress test scenarios provide a blueprint for community banks and credit unions to get started on their own stress tests.

Capital 195

Capital Regulation Risk Management Community 195

Abrigo

MARCH 13, 2023

DOWNLOAD Takeaway 1 Silicon Valley Bank's failure is a stark reminder for other financial institutions that when a crisis occurs, it can spread rapidly. Banks in rural America are not going to have the same kind of lending activities, or depositor relationships as this bank seemingly had. Do you get that from your deposit analysis ?

Strategy 195

Strategy Lending Security Analysis 195

Abrigo

APRIL 7, 2022

At recent Abrigo CECL Kickstart webinars, consultants demonstrated CECL implementation practices with an emphasis on the needs of community banks and credit unions. Once factors like the economy, new regulations, management changes, or even natural disasters are factored in, a greater allowance may be necessary.

Policies 195

Policies Data Examples Lending 195

South State Correspondent

JUNE 27, 2023

While this is mostly the domain of large banks, there are three reasons why your community bank should consider adopting this language to increase future bank performance. For example, ISO 20022 provides a set of messages (you can download HERE ) to handle ATM transactions, fraud, account names, and time periods.

System 195

System Data Examples Payments 195

Abrigo

MARCH 29, 2023

Takeaway 3 Following the use of funds can lead to fraud detection, and regulators will expect enhanced due diligence on PPP fraud. The COVID-19 pandemic challenged communities and businesses nationwide, and financial institutions were no exception. Researchers estimate that $76 billion in PPP loan money was taken illegally.

Fraud 195

Fraud Trends Taxes Training 195

Abrigo

JULY 1, 2022

Refugees can easily fall victim to someone lending a helping hand, their exhaustion contributing to their eagerness to trust those who might help. Here at home, financial institutions have a unique position to see front-line activity and the flow of illicit funds and can detect and report human trafficking within our communities.

Training 195

Training Fraud National Exercises 195