CFPB Monitor

MARCH 27, 2019

The FDIC has announced that Leonard Chanin joined the agency on March 18 as Deputy to the Chairman. Leonard will also provide advice on the FDIC’s efforts to promote innovative financial services technologies. He is an excellent attorney and brings to the FDIC substantial familiarity with the consumer financial services industry.

FDIC 113

FDIC Community Regulation Groups 113

Jeff For Banks

JANUARY 14, 2021

In June of 2008 I gave a speech titled "The Death of the Community Bank" and in that speech I made predictions. Much like the General Store fell victim to the supermarket and the lumber yard fell victim to Home Depot, I predicted the community bank that did not pick targeted customer niches or develop product expertise will meet it's doom.

Community Bank 130

Community Bank Community FDIC Strategy 130

CFPB Monitor

JULY 15, 2020

When the OCC issued its final Community Reinvestment Act (“CRA”) rule on May 20, 2020, the agency acted alone without waiting to achieve consensus with the FDIC, the agency with which the OCC had jointly issued its proposed rule.

FDIC 78

FDIC Community Bank Community Regulation 78

PYMNTS

OCTOBER 11, 2017

The Independent Community Bankers of America (ICBA), the trade group for community banks, is calling on the Federal Deposit Insurance Corporation (FDIC) to deny a federal deposit insurance application by payment terminal company Square. This isn’t the first time the group has opposed a deposit insurance application.

Groups 102

Groups FDIC Community Bank Community 102

CFPB Monitor

FEBRUARY 20, 2020

The OCC and FDIC announced yesterday that they have extended the 60-day comment period for their joint proposal to revise their regulations implementing the Community Reinvestment Act that was published in the Federal Register on January 8, 2020. As extended by 30 days, the comment period ends on April 8, 2020.

FDIC 78

FDIC Community California National 78

CFPB Monitor

OCTOBER 9, 2018

The FDIC has issued a request for information that seeks comment on how the FDIC can make its communications with insured depository institutions (IDIs) “more effective, streamlined, and clear.” The RFI contains specific questions on which the FDIC seeks input that address three topics: efficiency, ease of access, and content.

FDIC 74

FDIC Community Bank Policies Community 74

Independent Banker

NOVEMBER 21, 2021

As the first mutual bank to open in decades, Walden Mutual Bank is gearing up to support New England’s farmers, food service industry and sustainable food community. submitted its application to the FDIC at the end of August with the intent to serve New England’s local and sustainable food community with a bank owned by its depositors.

Community 170

Community New Hampshire New York Millennials 170

Independent Banker

MARCH 31, 2022

A secure, open-loop, cost-saving, customer-accessible, multiplatform P2P payments network might sound too good to be true, but community bank consortium Alloy Labs Alliance hopes to achieve just that with the CHUCK payment rail. A different kind of peer-to-peer payment service is now available, “built by community banks for community banks.”.

Community Bank 91

Community Bank Community Payments Meeting 91

PYMNTS

JANUARY 9, 2018

Community banks approved 49 percent of SMB loan applications in November, according to the latest data from the Biz2Credit Small Business Lending Index. Here, again, lies another opportunity for community banks to fill the void. We urge you to make such legislation a priority.”.

Community Bank 131

Community Bank Community Fintech Lending 131

CFPB Monitor

DECEMBER 28, 2020

The FDIC has issued a final rule setting forth the conditions it will impose and the commitments it will require to approve a deposit insurance application from an industrial bank or industrial loan company (collectively, ILC) whose parent company is not subject to consolidated supervision by the Federal Reserve Board (FRB).

FDIC 78

FDIC Industry Policies Company 78

CFPB Monitor

AUGUST 3, 2023

The court issued an order that preliminarily enjoins the CFPB from implementing and enforcing the Rule “pending the Supreme Court’s reversal of [ Community Financial Services Association of America Ltd. Continue Reading

Texas 78

Texas Lending FDIC Compliance 78

CFPB Monitor

JULY 7, 2022

Four leading trade groups are calling on the CFPB to rescind the recent updates to the UDAAP section of its Supervision and Examination Manual that instruct examiners to consider discrimination in connection with non-credit products and services as an unfair act or practice. Chamber of Commerce.

Groups 145

Groups West Virginia Policies Virginia 145

CFPB Monitor

SEPTEMBER 17, 2019

Although it remains to be seen how regulators will respond to comments received in response to the ANPR, the letter issued by the community organizations demonstrates the challenges regulators will face delivering clear, consistent, and transparent regulations that can best address the goals of the CRA.

Community 60

Community Regulation Groups Meeting 60

South State Correspondent

JULY 30, 2023

How should community banks target and compare their ROE to the industry and their peer group, and what defines a top-performing bank? Bank ROE Historical Performance Total assets for all FDIC-insured institutions was $23.7T Community banks (assets under $10B) composed 14.3% as of Q1/23. in the long run.

Community Bank 195

Community Bank Community Capital Policies 195

American Banker

MAY 21, 2020

The National Community Reinvestment Coalition, California Reinvestment Coalition and Democracy Forward accuse the agency of “unlawfully gutting” the historic anti-redlining law.

Community 78

Community Groups California National 78

CFPB Monitor

JUNE 23, 2022

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation joined by Scott Coleman, a partner in the firm’s Consumer Financial Services Group. We also discuss state efforts to enact CRA-like laws and the concept that the CFPB should have a role in approving bank mergers. Click here to listen to the podcast episode.

Community 78

Community FDIC Groups Regulation 78

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

PYMNTS

JULY 26, 2019

FDIC) and the state of Utah for an industrial loan company (ILC) charter. ILCs can sidestep banking company holding requirements while still getting FDIC guarantees on deposits, which means that retail firms can have them. We’ll have specific goals for community service and investments back into the community.”.

Fintech 192

Fintech Utah US FDIC 192

American Banker

FEBRUARY 19, 2020

In a sudden reversal, the OCC and FDIC said they would push back the deadline to April for groups to weigh in on the proposal to modernize the Community Reinvestment Act.

FDIC 75

FDIC Regulation Community Groups 75

South State Correspondent

SEPTEMBER 12, 2022

However, as of Q2/22, the average community bank’s COF has risen only a few basis points. Community banks should be concerned about their COF because looking at current deposit conditions is like driving a car while looking at the rearview mirror. Community banks will feel the effects of these hikes over the next few quarters.

Community Bank 195

Community Bank Community Industry Online 195

South State Correspondent

MARCH 13, 2023

On the liability side of SVB’s $173B in deposits at the end of 2022, approximately 97% were uninsured and above the $250k in FDIC protection threshold. The SVB Takeaway For Community Banks Community banks should continue to monitor their deposit base, liability sensitivities, and duration risks.

Risk Management 221

Risk Management Management Community Bank Community 221

Jeff For Banks

AUGUST 2, 2021

Andy recently tweeted a string of tweets describing his investor group's original investment, their evolution from troubled to healthy institution, and what it took for him and his team to be successful. 1/ @Schornack At the end of July 2013, we invested $1.8MM to buy 49% of Flagship Financial Group, Inc. million in assets and $233.7

Community Bank 78

Community Bank Community Minnesota Metro 78

Jeff For Banks

DECEMBER 10, 2023

Although the 2022 Top 5 are holding their own and two of them remain in today's Top 5, the 2021 edition included one bank that failed (SVB Financial Group) and one that is voluntarily liquidating (Silvergate). Communities First Financial Corporation (Now FFB Bancorp) (OTCQX: FFBB) #2. What a difference a year makes! The Bancorp, Inc.

Fresno 107

Fresno North Carolina Raleigh FDIC 107

PYMNTS

AUGUST 3, 2020

BankMobile, BBVA USA, BMO Harris, The Coastal Community Bank, First Independence Bank (a federally designated minority depository institution) and SEFCU will join Citi and Stanford Federal Credit Union in the offering beginning next year. Six additional U.S.

Google 239

Google Digital Banking Pennsylvania FDIC 239

Jeff For Banks

JANUARY 12, 2019

The average 5-year total return for this group was 320%. The average 5-year total return for the group below was -31%. The average board size for this group was 12, and the average age was 66. In terms of bankers, active or retired, this group looks no different than the Top 5. Frequently asked. Seldom answered.

Community Bank 60

Community Bank Community FDIC Dallas 60

Jeff For Banks

JANUARY 12, 2019

The average 5-year total return for this group was 320%. The average 5-year total return for the group below was -31%. The average board size for this group was 12, and the average age was 66. In terms of bankers, active or retired, this group looks no different than the Top 5. Frequently asked. Seldom answered.

Community Bank 60

Community Bank Community FDIC Dallas 60

Independent Banker

JULY 31, 2022

Observing the gap in pandemic relief in south Florida due to a lack of local community banks, a trio of banking veterans teamed up to form a digital-first community bank—and were granted a charter in record time to support local businesses. By Katie Kuehner-Hebert. Name: Locality Bank. Assets: $55 million. Built on a solid foundation.

Florida 91

Florida Community Bank Community FDIC 91

CFPB Monitor

AUGUST 20, 2020

FFIEC : On June 5, 2020, the members of the FFIEC (FDIC, OCC, Federal Reserve Board (“FRB”), CFPB, NCUA and the State Liaison Committee) issued an unprecedented statement on the importance of financial inclusion. On July 23, 2020, the FDIC released a podcast entitled “The Role of Minority Banks.” banking system.

Regulation 78

Regulation FDIC Community Lending 78

Jeff For Banks

MAY 7, 2016

Recently a former bank director and active bank stock investor asked me about the rise of FinTechs and how it impacts community banks. But the death of the community bank is exaggerated. Banks are FDIC insured. Here is my answer to him. "I I think technology firms are going to change banking forever. Banks have customer trust.

Community Bank 60

Community Bank Community Fintech FDIC 60

PYMNTS

SEPTEMBER 30, 2020

Co-signed by the American Bankers Association, Bank Policy Institute, Independent Community Bankers of America and The Clearing House, the letter argues that banks and non-bank technology firms are both already embracing innovation in customer service offerings. FDIC), the states and the courts.

Regulation 349

Regulation National System Industry 349

PYMNTS

JANUARY 13, 2021

All eyes are on the small business community in the commercial card world as industry players increasingly explore how card products can help Main Street recovery and stay in business. FDIC) and the Treasury Department have reportedly launched an inquiry into American Express Co. Small Business Card Use On The Rise.

Cards 167

Cards Apple FDIC Samsung 167

PYMNTS

FEBRUARY 8, 2019

The news comes as five federal agencies spoke in October on how credit unions, as well as community banks, can share resources to make BSA compliance streamlined and bolster AML efforts. FDIC) and the Comptroller of the Currency were involved in the discussion.

FDIC 134

FDIC Community Community Bank National 134

PYMNTS

FEBRUARY 19, 2019

.” Other critics have raised the issue that the OCC is advising examiners to take community group concerns into consideration separately from their M&A approval processes. ” Now, Powell is also raising concerns about how bank industry consolidation could negatively impact the small business community.

Marketing 108

Marketing Community Community Bank Industry 108

South State Correspondent

APRIL 30, 2022

In this article, we analyze the industry’s cost of funding earning assets (COF) and track how community banks’ COF behaves relative to larger banks. In future articles, we will explain our modeling for community banks’ COF based on inflation, Fed Funds rates, consumer consumption and the Fed’s balance sheet runoff.

Community Bank 195

Community Bank Strategy Community FDIC 195

PYMNTS

OCTOBER 17, 2017

An industrial bank is an FDIC-insured depository institution that is generally subject to the same banking laws and regulations as any other bank charter type, with the important exception of the Bank Holding Act of 1956. ILCs are used to form industrial loan companies, better known as industrial banks. And those can take a while.

Industry 108

Industry Fintech FDIC Community Bank 108

American Banker

APRIL 5, 2016

In an interview, FDIC Chairman Martin Gruenberg said the FDIC will work with banking groups, state commissioners and others to help foster the growth of new banking charters.

FDIC 28

FDIC Groups Community Bank Community 28

American Banker

APRIL 5, 2016

In an interview, FDIC Chairman Martin Gruenberg said the FDIC will work with banking groups, state commissioners and others to help foster the growth of new banking charters.

FDIC 28

FDIC Groups Community Bank Community 28