Perficient

DECEMBER 27, 2023

Once published by regulators, Perficient’s Risk and Regulatory CoE will be here to walk our clients through the changes. YOU MAY ENJOY: Regulatory Reporting in Financial Services Modernizing CRA Regulations Managing compliance risk frameworks in alignment with existing risk profiles is crucial as customer needs evolve.

Compliance 221

Compliance FDIC Regulation Fraud 221

South State Correspondent

AUGUST 21, 2022

Last week we wrote about loan-level vs. balance sheet hedging for community banks and provided our loan proposal generator ( HERE ). We compared and contrasted the two strategies and sized the market for community banks. A community bank may transact one or only a few balance sheet hedges over many years.

How To 195

How To Community Bank Community FDIC 195

CFPB Monitor

MAY 17, 2021

On May 19, 2021, the House Financial Services Committee will hold a hearing , “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions.” Randal Quarles, Vice Chairman of Supervision, Board of Governors of the Federal Reserve System.

Regulation 78

Regulation FDIC National Community 78

CFPB Monitor

NOVEMBER 30, 2023

This is our third blog post on the final rule issued on October 24, 2023 by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency amending their regulations implementing the Community Reinvestment Act (“CRA”) (the “Final Rule”). .

Community 147

Community Regulation System FDIC 147

PYMNTS

SEPTEMBER 30, 2020

It would instead offer payment companies a national servicing platform to replace the regime of state regulations such firms would be subject to under existing laws. Commercial companies accessing a payments charter would avoid oversight and regulations that protect the financial system and consumers,” the bank industry leaders wrote.

Regulation 349

Regulation National System Industry 349

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

Abrigo

MARCH 2, 2023

Banking technology decisions now affect future growth With the possibility of a recession, community financial institutions may consider a delay or cut in technology spending. The company has estimated that the impact of its system meltdown during bad weather will cost it as much as $825 million. Systems often fail at the worst time.

Technology 195

Technology Lending Community Software 195

PYMNTS

JANUARY 9, 2018

While marketplace lending platforms and alternative finance players first surfaced to compete with traditional financial institutions (FIs), many large banks have now realized that collaborating with these companies is the way to better service SMBs — and without the added investment in developing proprietary systems.

Community Bank 131

Community Bank Community Fintech Lending 131

CFPB Monitor

AUGUST 20, 2020

federal and state financial institution regulators have taken meaningful, proactive steps to acknowledge financial inequality issues, reach out to traditionally underserved populations to expand access to credit, and further protect consumers from discrimination. This blog post contains a summary of those efforts.

Regulation 78

Regulation FDIC Community Lending 78

CFPB Monitor

AUGUST 31, 2021

The OCC, FDIC, and Federal Reserve Board have issued a guide that is intended to assist community banks in conducting due diligence when considering relationships with financial technology (fintech) companies (Guide). Information security program and information systems. Risk management policies, processes, and controls.

Community Bank 78

Community Bank Community Fintech Company 78

Abrigo

APRIL 23, 2015

A new bill proposed on April 16 aims to increase the exam cycle period for a larger pool of community banks. OCC guidance on Community Bank Supervision states all national banks must receive a full-scope, on-site exam at least annually. The bill, spearheaded by Senator Joe Donnelly, D-Ind., and Senator Pat Toomey, R-PA.,

Community Bank 150

Community Bank Community Survey FDIC 150

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

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

NOVEMBER 13, 2023

On October 24, 2023, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a final rule amending their regulations implementing the Community Reinvestment Act (“CRA”) (the “Final Rule”). Continue Reading

Community 78

Community Regulation System FDIC 78

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

PYMNTS

MAY 22, 2018

A bill that would give regional banks a break on regulation was before the U.S. 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.”.

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Regulation Regional Community Community Bank 100

CFPB Monitor

NOVEMBER 27, 2023

This is our second blog post on the final rule issued on October 24, 2023 by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency amending their regulations implementing the Community Reinvestment Act (“CRA”) (the “Final Rule”). .

Community 78

Community Regulation System FDIC 78

Abrigo

NOVEMBER 11, 2019

Community financial institutions are familiar with utilizing their asset/liability management solutions to limit the risk of rising interest rates. Obviously, protecting financial institutions against the impact to capital and earnings of rising interest rates has been the particular focus of regulators for more than a decade.

Management 150

Management FDIC Community Risk Management 150

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.

Groups 102

Groups FDIC Community Bank Community 102

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

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

ABA Community Banking

MARCH 16, 2023

As regulators conduct their reviews, Brown said they should look for “broader vulnerabilities” in the banking system and take steps to mitigate them. Brown asks regulators for ‘comprehensive review’ of bank failures appeared first on ABA Banking Journal. The post Sen.

Regulation 52

Regulation System FDIC Community Bank 52

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. Regulators paying closer attention to cyber risks.

Montana 152

Montana Policies Resources FDIC 152

CFPB Monitor

AUGUST 4, 2020

Recently, the federal banking regulators issued four new sets of examination procedures. The booklet contains examination procedures regarding supervision of OCC-regulated banks and savings associations related to Section 5 of the Federal Trade Commission Act (“UDAP”) and Sections 1031 and 1036 of the Dodd-Frank Act (“UDAAP”).

Handbook 78

Handbook Regulation CA Exercises 78

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.” The Fed’s publication of the paper is another indication of the increased attention that regulators are paying to bank relationships with fintechs.

Fintech 78

Fintech Community Bank Community FDIC 78

Abrigo

JUNE 11, 2021

Takeaway 1 Regulators stress sound risk management practices that include the ability to identify and measure interest rate risk (IRR). Regulators have repeatedly stressed the importance of sound risk management practices that include the ability to identify and measure interest rate risk. FDIC) noted in its 2021 Risk Review.

How To 195

How To Risk Management Analysis Kansas City 195

CFPB Monitor

MARCH 30, 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes the following key provisions that affect financial institutions and regulation of financial institutions: Section 4003 – Emergency Relief and Taxpayer Provisions. Section 4012 – Temporary Relief For Community Banks. Section 4008 – Debt Guaranty Authority.

Regulation 122

Regulation United States Community Bank National 122

Jeff For Banks

JUNE 4, 2018

"The FDIC recently has observed instances of liquidity stress at a small number of insured banks." So opened the Summer 2017 FDIC Supervisory Insights issue. Regulators and consultants promulgate this untruth. He was confident in his bank's liquidity position, but felt regulators could artificially create a liquidity problem.

FDIC 60

FDIC System Regulation Conference 60

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

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. The better prepared, the less likely they are to run afoul of the continually shifting regulations. By Karen Hoffman.

Compliance 101

Compliance Regulation Community Bank Community 101

PYMNTS

FEBRUARY 19, 2019

Senator Elizabeth Warren (D-MA) recently sent a letter to Powell raising this concern, noting that the Fed’s “anemic scrutiny of applications for mergers and acquisitions [M&A] raises concerns that [it] may oversee a wave of bank consolidation to the detriment of consumers and the financial system.”

Marketing 108

Marketing Community Community Bank Industry 108

Jeff For Banks

JUNE 2, 2023

Second, this can be accomplished only if the industry does not have too much influence over its regulators and if the regulators have the ability to hire, train, and retain qualified staff. Third, the regulators need adequate financial resources. My lesson learned to the regulators, read your past lessons learned.

FDIC 78

FDIC Community Bank Regulation Lending 78

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. The Systemic Risk. ILCs are used to form industrial loan companies, better known as industrial banks.

Industry 108

Industry Fintech FDIC Community Bank 108

PYMNTS

NOVEMBER 9, 2017

Small banks do not want to compete with the Amazons and Walmarts of the world when it comes to offering financial services for clients — and as of today, they more or less are protected from having to do so by regulations that prevent banks’ holding companies from branching too far outside of core financial services businesses.

Regulation 100

Regulation Retail New York Apple 100

CFPB Monitor

AUGUST 5, 2021

This past Tuesday, Acting Comptroller of the Currency Michael Hsu appeared as a witness at the Senate Banking Committee’s hearing, “ Oversight of Regulators: Does our Financial System Work for Everyone? ”. Community Reinvestment Act. While not providing any timetable for rulemaking, Mr.

Data 78

Data FDIC Community Analysis 78

CFPB Monitor

AUGUST 30, 2018

The Office of the Comptroller of the Currency (OCC) has issued an advance notice of proposed rulemaking (ANPR) on which it invites public comment “to solicit ideas for building a new framework to transform or on ways to transform or modernize the regulations that implement the Community Reinvestment Act of 1977 (CRA).”

Community 68

Community Regulation FDIC Groups 68

PYMNTS

DECEMBER 20, 2018

Through gpi, SWIFT and its community have managed to radically innovate the very core of correspondent banking,” said Chief Marketing Officer Luc Meurant in a press release providing the business update, and where universal update is being targeted for 2020. Regulators had said a refiling would be permitted. In its Wednesday (Dec.

Utah 134

Utah FDIC System Retail 134