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

MAY 18, 2022

After moving alone in 2020 to reform its Community Reinvestment Act (CRA) regulation, the Office of the Comptroller of the Currency (OCC) has joined the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve Board in issuing a joint notice of proposed rulemaking setting forth proposed amendments to their regulations implementing the CRA.

FDIC 78

FDIC Regulation Community Lending 78

Perficient

DECEMBER 27, 2023

Additionally, the recent rule by the OCC, the Federal Reserve, and the FDIC strengthens and modernizes Community Reinvestment Act (CRA) regulations.  Banks need to plan for these changes and begin to implement management processes to address the potential impact of the rule on their systems and resources.

Compliance 221

Compliance FDIC Regulation Fraud 221

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

Abrigo

FEBRUARY 8, 2024

Takeaway 3 Numerous resources can help banks and credit unions offer training on fraud to help customers or members recognize scams and avoid theft. Provide resources and updates on new threats, ensuring customers can stay ahead of evolving risks. Tap into anti-fraud resources offered by other organizations.

Fraud 195

Fraud Resources social media Software 195

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

JULY 30, 2015

While all of ICBA’s members are FDIC-insured, the association represents Federal Reserve member banks, nationally chartered banks and state-chartered institutions. Community Bank Career Center. The ICBA Community Bank Career Center is the community banking industry’s resource for online employment connections.

Resources 70

Resources Tools Community Bank Community 70

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

Independent Banker

OCTOBER 1, 2022

We explore how it can protect banks against financial losses and provide resources in the event of a cyber attack. AmTrust recently worked with one community bank client that was the target of a ransomware attack that shut down its branches for two weeks. Resources provide added value. By Beth Mattson-Teig.

Montana 152

Montana Policies Resources FDIC 152

Abrigo

MAY 5, 2022

Other podcasts might be internationally based and of little interest to community financial institutions or credit unions based in the U.S. We have webinars , whitepapers , and other resources to make your job easier. Main Street Banking: A Podcast for Community Bankers 8. Banking Resources. Banking Transformed 2.

Community 195

Community Lending Maine Resources 195

Jeff For Banks

AUGUST 2, 2021

2/ @Schornack The primary asset of the organization was Flagship Bank Minnesota, a Member FDIC and Equal Housing Lender with two locations in the Twin Cities Metro Area. I suggest following Andy on Twitter. 1/ @Schornack At the end of July 2013, we invested $1.8MM to buy 49% of Flagship Financial Group, Inc. Exciting things to come!

Community Bank 78

Community Bank Community Minnesota Metro 78

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

CFPB Monitor

NOVEMBER 18, 2019

In its first hearing on minority depository institutions, the Subcommittee examined the unique challenges facing MDIs and the communities they serve. Betty Rudolph, FDIC National Director for MDIs and CDFIs. Betty Rudolph, FDIC National Director for MDIs and CDFIs. Click here for the Committee Memorandum.

FDIC 68

FDIC Regulation Resources Community 68

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

Jeff For Banks

DECEMBER 10, 2023

Although one might argue that First Citizens BancShares of Raleigh is a SIFI as it climbed to the 19th largest in the country with its Silicon Valley Bridge Bank acquisition from the FDIC, and that the FDIC designated SVB as systemically important. Communities First Financial Corporation (Now FFB Bancorp) (OTCQX: FFBB) #2.

Fresno 101

Fresno North Carolina Raleigh FDIC 101

Abrigo

JULY 10, 2023

AI fraud resources for customers Protecting your clientele from AI fraud AI fraud is not top of mind for most bank and credit union customers. 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

Abrigo

AUGUST 3, 2017

The FDIC paper The Entry, Performance, and Risk Profile of De Novo Banks published in April 2016 reports that the number of de novo bank failures and acquisitions annually has drastically declined since 2010, primarily due to the fact that new bank formations have become nearly inexistent. A low interest rate environment 2.

Oklahoma City 150

Oklahoma City FDIC Handbook Oklahoma 150

Abrigo

JANUARY 8, 2016

The GAO acknowledged that community banks, credit unions and their professional industry associations reported increased compliance burdens and reduced activity in specific business activities, such as certain mortgage lending, as a result of Dodd-Frank. “For A lengthy report released recently by the U.S.

Regulation 150

Regulation FDIC Survey Community Bank 150

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

Abrigo

SEPTEMBER 14, 2022

2) To enable communities, governmental entities, and creditors to identify business and community development needs and opportunities of women-owned, minority-owned, and small businesses. In fact, it took a lawsuit initiated by a California community group in 2019 to get things moving. Those implementing regulations were coming.

Lending 195

Lending Data Regulation Community 195

CFPB Monitor

DECEMBER 7, 2022

Chairman Brown noted that a 2021 FDIC household survey found about 11% of Black and 9% of Hispanic households were unbanked or underbanked, and consumer complaints suggested that minority customers are often viewed as suspicious and treated poorly in financial institutions.

Community 78

Community Compliance Industry National 78

Abrigo

DECEMBER 22, 2023

keep me informed watch SVB: Early lessons for all financial institutions from Silicon Valley Bank’s failure The FDIC closure and assumption of Silicon Valley Bank (SVB) – the largest bank failure since 2008 – is a stark reminder that when a crisis occurs, it can spread as fast as a wildfire in dry fields with a strong wind.

Risk Management 221

Risk Management Regulation Management Lending 221

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. Populus contrasts the narrower missions and authority of the Federal Reserve, FDIC, and OCC, which are also self-funded. Populus Financial Group, Inc.,

Groups 78

Groups FDIC Texas Leadership 78

Jeff For Banks

JUNE 2, 2023

Third, the regulators need adequate financial resources. Although community banks did not lend to sub-prime borrowers in any meaningful way, did we participate? In many respects, community banks were caught in the cross-fire through the purchase of those mbs instruments – and subsequent trial through public sentiment.

FDIC 78

FDIC Community Bank Regulation Lending 78

Independent Banker

JULY 29, 2016

Around the Table—Wisconsin community bankers work with legislative staff members on Capitol Hill during ICBA’s Washington Policy Summit. Keeping community banking interests front and center. Rally more than 3,000 community bankers each year who support ICBPAC, ICBA’s federal political action committee for community banking.

Community Bank 70

Community Bank Community Washington FDIC 70

Abrigo

APRIL 21, 2020

Steve Domine, President of Minnesota Community Banking and Senior Vice President of Lending at Stearns Bank, explained during a recent Independent Community Bankers of America (ICBA) webinar that his bank sought both inside and outside counsel to understand the SBA rulings. Asset/Liability. Lending & Credit Risk. SBA Lending.

Lending 195

Lending Capital Minnesota FDIC 195

Independent Banker

SEPTEMBER 25, 2014

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. Community banks often already have the expertise handy in-house, they say. By Vanessa Drucker.

Community Bank 70

Community Bank Compliance Risk Management Community 70

CFPB Monitor

JUNE 15, 2020

On May 20, 2020, the OCC issued a final rule to “strengthen and modernize” its existing Community Reinvestment Act (“CRA”) regulations. of Community Development Fund Advisors. Thomas, Ph.D., Click here for more information and to register.

Community 60

Community FDIC Lending Examples 60

Abrigo

NOVEMBER 9, 2022

In addition, as FASB officials have noted, internal and external resources become more stretched and valuable the closer the deadline. Technology can ease pressure on staffing and internal resources, a category identified by 42% of respondents as one of their biggest challenges so far. But even then, that window is closing.”

Survey 195

Survey Software Resources Meeting 195

Independent Banker

SEPTEMBER 26, 2014

Awareness of elder financial abuse is growing, and community bankers are often relied upon as the front line of defense in the protection of their customers, including as providers of crime prevention education and information. In fact, they’re every bit as much at risk. Buhrmaster, president of 1st National Bank of Scotia, in Scotia, N.Y. “As

Community 101

Community Resources Community Bank Video 101

PYMNTS

FEBRUARY 15, 2019

As noted in this space late last year, five federal agencies spoke out, and presented a statement that detailed how credit unions and banks could share resources to make Bank Secrecy Act compliance efforts more streamlined.

Compliance 122

Compliance Fraud United States FDIC 122

NCR

AUGUST 31, 2016

What they choose to outsource depends primarily on a particular bank’s size and the amount of resources it has at its disposal. The FDIC has issued several Financial Institution Letters (FILS) regarding third party risk that addresses offshoring risk.

Community Bank 49

Community Bank Community Guidelines Compliance 49

CFPB Monitor

APRIL 1, 2021

In what could be an important step towards needed regulatory updating to accommodate the growing use of artificial intelligence (AI) by financial institutions, the CFPB, FDIC, OCC, Federal Reserve Board, and NCUA issued a request for information (RFI) regarding financial institutions’ use of AI, including machine learning (ML). Cybersecurity.

Risk Management 78

Risk Management Training Lending FDIC 78

Abrigo

JULY 20, 2021

Even if community businesses don’t end up utilizing the federally guaranteed loans , many small businesses have heard of SBA loans and want to explore them. SBA loan origination can be especially lucrative for community financial institutions now. Check out these resources. Ready to explore SBA Lending? Watch Webinar.

Lending 195

Lending FDIC Capital Risk Management 195

Abrigo

JULY 20, 2021

Even if community businesses don’t end up utilizing the federally guaranteed loans , many small businesses have heard of SBA loans and want to explore them. SBA lending is especially lucrative for community financial institutions now. Check out these resources. Ready to explore SBA Lending? Watch Webinar. Keep me informed.

Lending 195

Lending FDIC Capital Risk Management 195

Jeff For Banks

OCTOBER 29, 2016

I recently mentioned to a community bank management team that community financial institutions are slower to close branches because their decision making goes beyond the spreadsheet and market potential. Community bankers know the town mayor, and key business leaders. We over-invest in under-performing branches. no, this week!

Training 60

Training FDIC Community Resources 60

FICO

JANUARY 13, 2020

Banks are uniformly supportive and have devoted significant resources to thwarting terrorist financing and detecting money laundering, however, there is uniform agreement that the mounting compliance burdens require some changes. The road to modernizing the Community Reinvestment Act will include some speed bumps. by Daniel Nestel.

Policies 52

Policies Las Vegas FDIC Washington 52