CFPB Monitor

MARCH 11, 2020

Take steps to promote the broad adoption of SOFR (citing reports indicating “that industry has recently pushed for regulators to rubber-stamp the use of additional alternative reference rates”). Remain committed to the adoption of a replacement index that is based on actual transaction data.

New York 78

New York National Groups Community 78

Independent Banker

AUGUST 31, 2022

Managing compliance is a role that community bankers take more seriously than any other segment of the financial services industry. Regulations are there to require what we do every day as community bankers: protect our customers. Regulators win when a bank’s exam is simple and straightforward when compliance is a priority.

Compliance 177

Compliance Community Leadership Industry 177

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.

Community Bank 131

Community Bank Community Fintech Lending 131

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). Banks are instructed to reference relevant guidance from the agencies that is listed in a footnote.

Community Bank 78

Community Bank Community Fintech Company 78

Perficient

SEPTEMBER 11, 2023

Already reviewed by Perficient, BES provides a secure and efficient portal to exchange documents, information, and communications for consumer compliance and Community Reinvestment Act (CRA) examinations. The list was referred to as a first day letter.

Compliance 221

Compliance FDIC Tools Leadership 221

Abrigo

JULY 13, 2023

In the context of financial crime, this troubling analogy refers to a manipulation technique used to exploit vulnerabilities in a victim through frequent interactions and social engineering. Educate customers and members: Provide educational opportunities for your community so they know when to say “no” to investment scams.

Fraud 195

Fraud cryptocurrency Training social media 195

PYMNTS

APRIL 10, 2017

The lead regulator for U.S. Notably, most of the cases referred to by the OCC had already been announced and, in some cases, were over a decade old. The OCC also lowered its overall score of Wells Fargo’s compliance with community banking laws to “needs to improve.”. Maxine Waters, U.S.

Regulation 100

Regulation California Community Bank Cards 100

CFPB Monitor

AUGUST 24, 2022

They note that mergers “can strengthen the ability of banks to achieve economies of scale that allow them to continue to serve communities that have experienced population loss,” thereby enhancing, rather than degrading, customer service.

Groups 78

Groups Regulation Tools Policies 78

Perficient

AUGUST 14, 2020

Three leading organizations — Salesforce , Perficient , and The Chartis Group — have come together to share bright spots within the healthcare community that can point the way to building the necessary capacity to adapt. Evolving Regulations – Each state has their own guidelines for managing this health crisis.

System 519

System Analytics Strategy Guidelines 519

Abrigo

SEPTEMBER 11, 2023

Automation also helped financial institutions better serve their communities by, for example, reducing the time it takes to process a loan application. Fintechs have developed a strong competency around these advances. So, what is generative AI? Learn how technology helped a financial institution during uncertain times.

Risk Management 195

Risk Management Data Technology Fintech 195

Jeff For Banks

APRIL 4, 2024

Shadow Banking refers to banking-like operations that take place outside of the mainstream banking industry. Shadow bank lending is similar to bank lending but is not subject to the same regulations, and compensating deposit balace requirements. Such as direct lending funds, and insurance companies.

Banking Trends 115

Banking Trends Trends Millennials Oregon 115

PYMNTS

OCTOBER 8, 2018

The impact of Europe’s General Data Protection Regulation ( GDPR ) continues to take shape roughly five months after taking effect, and Facebook could be on the hook for billions of dollars in fines tied to a data breach of about 50 million user accounts. Crypto Regulations. community banks and small business lending.

United States 174

United States Regulation cryptocurrency Cleveland 174

PYMNTS

JUNE 17, 2020

The CCI’s mission is to enforce India’s Competition Act which prohibits anti-competitive agreements and the abuse of a dominant position by corporations and, regulates mergers and acquisitions (M&As) and any actions which could hurt competition in India. In April, PYMNTS reported Facebook closed a $5.7

social media 140

social media Regulation Regional Community 140

Abrigo

JULY 21, 2021

See Part I: Implications for Community Financial Institutions. BSA Rules and Regulation. BSA Rules and Regulation. BSA Rules and Regulation. FinCEN Releases AML/CTF Priorities: Implications for Community Financial Institutions. FinCEN Releases AML/CTF Priorities: Implications for Community Financial Institutions.

Training 195

Training National Strategy Regulation 195

Abrigo

DECEMBER 8, 2014

ALLL.com , coming in early 2015, will be a “hub” that bank and credit union professionals can reference for all topics surrounding the ALLL. The site will include, among other things: • Regulation news. • Community forum for bankers to network and seek peer input on their questions.

Resources 223

Resources Community Regulation Industry 223

Abrigo

NOVEMBER 18, 2019

This increase in cash escalates the threat of robberies, assault, and other aggressive crimes both at these businesses and in the surrounding communities. It also allows financial institutions to properly monitor for and report on suspicious activity, ensuring that the CRBs in their communities are legitimate. BSA Rules and Regulation.

Regulation 150

Regulation Community National Operations 150

CFPB Monitor

DECEMBER 19, 2019

The OCC and FDIC have issued a joint proposal to revise their regulations implementing the Community Reinvestment Act (CRA). Although the Federal Reserve, OCC and FDIC, are the primary CRA regulators, the Fed did not join the proposal and presumably will issue a separate proposal.

FDIC 78

FDIC Regulation Community Retail 78

Abrigo

JUNE 13, 2022

In what's now being referred to as the "Age Wave," ten thousand baby boomers will turn 65 every day until 2030, creating a larger pool of potential victims for fraudsters and scammers. The latest survey indicates that COVID-19 has impacted bank community engagement. BSA Rules and Regulation. BSA Rules and Regulation.

Fraud 195

Fraud Training United States Survey 195

PYMNTS

AUGUST 8, 2017

regulators say late payments are jeopardizing the nation’s small- and medium-sized business community. But Ultimate Finance says this isn’t just a problem for the micro- and small-business community. “There is no doubt that U.K. small businesses. But new data released Monday (Aug. 7) from U.K.-based

Payments 108

Payments Community Regulation Data 108

PYMNTS

JUNE 11, 2018

Also in Australia, and apropos to small business lending, Prospa delayed issuing additional shares on the country’s stock exchange, in part due to pressure from financial services regulators in that country. community banks hailed some changes to the Dodd-Frank regulations, particularly in regard to how small to medium banks are treated.

Regulation 100

Regulation Community Bank Lending Industry 100

Abrigo

MARCH 6, 2017

The ABA has a new report out on how banks are using social media, and much of the report focuses on using Twitter, Facebook, LinkedIn and the like to boost customer service, make connections in the community and recruit staff. 14) @News_CUInsight – CUInsight is an independent source of news on the credit union community.

social media 150

social media Lending Community Community Bank 150

PYMNTS

APRIL 16, 2019

Elsewhere, Federal Reserve Governor Michelle Bowman said last week, as reported in ABA Banking Journal , that outsourced risk management guidance may need to be reworked, as complex regulations have been hindering community banks’ efforts to embrace innovation.

Fintech 211

Fintech San Francisco National Innovation 211

Abrigo

SEPTEMBER 10, 2021

Before the September 11 attacks, the BSA did not refer to terrorist financing as part of the illicit activity that law enforcement was concerned with preventing. See Part I: Implications for Community Financial Institutions. BSA Rules and Regulation. BSA Rules and Regulation. Before 9/11. BSA through the years.

Training 195

Training Risk Management Pennsylvania Resources 195

CFPB Monitor

JULY 20, 2020

The CFPB refers to majority and high-majority African-American neighborhoods as neighborhoods that are more than 50% and more than 80% Black or African-American, respectively. The DOJ , HUD and CFPB have made redlining claims, and entered into settlements, with banks under the ECOA and the FHA.

Chicago 147

Chicago Regulation Community Marketing 147

BankUnderground

OCTOBER 18, 2022

They argue that these risks are not currently included within risk weights in the banking prudential framework and that regulators should adjust the framework to include them. Importantly, there is now broad agreement that climate change will create risks to the financial system that regulators should address.

Analysis 100

Analysis Regulation Capital Policies 100

Abrigo

DECEMBER 10, 2019

What’s now being referred to as the “Age Wave”, 10,000 baby boomers are turning 65 every day until 2030, creating an even larger pool of potential victims for fraudsters and scammers. Fifty-six percent of all survey respondents host community outreach and education events for older customers. BSA Rules and Regulation.

Fraud 284

Fraud Study United States Training 284

CFPB Monitor

JULY 7, 2022

The four groups are the American Bankers Association, the Consumer Bankers, the Independent Community Bankers of America, and the U.S. Also, its legislative history refers to the Bureau’s antidiscrimination authority in the context of ECOA and HMDA, while referring to the Bureau’s UDAAP authority separately. Chamber of Commerce.

Groups 145

Groups West Virginia Policies Virginia 145

PYMNTS

OCTOBER 9, 2018

However, Dave Gilbert, founder and chief executive officer of SMB alternative lending firm National Funding , said he’s seen a trend of growing traction within the small business community. It’s on this business model that alternative finance in the U.K. The company eventually changed those terms to satisfy officials. In the U.S.,

National 167

National Regulation Capital Industry 167

CFPB Monitor

JANUARY 24, 2022

In its press release , the OCC stated that its approval “brings SoFi, a large fintech, inside the federal bank regulatory perimeter, where it will be subject to comprehensive supervision and the full panoply of bank regulations, including the Community Reinvestment Act.

National 78

National Fintech Company FDIC 78

Jeff For Banks

DECEMBER 16, 2022

As a reference, the best SIFI bank in five-year total return this year was JPMorgan Chase at 82nd overall. As a point of reference, the S&P US BMI Bank Total Return Index for the five years ended December 9, 2022 was -1.21%. and Puerto Rico banking laws and regulations. Not so over the eleven years I have been keeping track.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

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.

Data 78

Data FDIC Community Analysis 78

CFPB Monitor

AUGUST 19, 2022

New developments are often opposed by small groups prioritizing their own self-interest over the interests of the community at large. It took 44 years for the law to catch up to modern technology, but the CFPB finally did it in 2021 with Regulation F’s guidelines for FDCPA-compliant electronic communications like email and text messages.

DC 78

DC Regulation social media Maryland 78

PYMNTS

MAY 8, 2020

The poll was conducted by a San Francisco-based advocacy group called Small Business Majority, and its CEO John Arensmeyer has been a proponent of community grants that exist outside of the formal banking system that has controlled government aid up to this point. Other ideas include more government action regarding competitive regulation.

Maine 142

Maine Groups San Francisco Lending 142

Abrigo

SEPTEMBER 5, 2023

Generally speaking (subject to Regulation B), business loans should be guaranteed by the principals of the borrower. Of course, for this to work, there can be no references to exceptions in other credit policies in the institution. A separate credit exception policy resolves this conundrum.

Policies 195

Policies Lending Risk Management Examples 195

BankUnderground

MARCH 1, 2021

During these negotiations Catto lobbied for the Bank not to be given more powers to regulate banks. The negotiations went smoothly on the whole but, according to records in the Bank’s archives, Catto declared himself during one meeting at the Treasury to be ‘strongly against any legislation giving powers to regulate the banks’.

Policies 125

Policies Regulation Meeting Industry 125

Abrigo

DECEMBER 8, 2021

Specific topics for your BSA board training may include the following: Give a brief history of BSA/AML The key point to make regarding the history of BSA/AML is to understand is understanding laws and regulations. A reference guide with these acronyms and what they represent can be helpful during training.

Training 195

Training Resources Video Compliance 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. Federal regulators say, not always. Federal regulators say, not always. What prompts outsourcing.

Community Bank 70

Community Bank Compliance Risk Management Community 70