CFPB Monitor

APRIL 28, 2022

In 2005, the federal prudential regulators—including the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC)—issued Interagency Guidance on Response Programs for Unauthorized Access to Customer Information and Customer Notice.

Report 147

Report FDIC Regulation Security 147

Gonzobanker

JUNE 14, 2023

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act. In effect, Cross River is in time out.

Compliance 109

Compliance FDIC Strategy Fintech 109

Abrigo

NOVEMBER 22, 2021

Consumer lending compliance — like other aspects of enterprise risk management at financial institutions — saw a huge impact from the COVID-19 pandemic. Numerous regulatory resources go into detail, including fair lending videos from the FDIC and examination procedures published on the Consumer Financial Protection Bureau’s website.

Compliance 195

Compliance Lending Risk Management Regulation 195

Independent Banker

OCTOBER 1, 2022

Cyber insurance not only provides financial reimbursement for losses; it also equips the insured with access to a list of preapproved incident response experts that are required to help the bank manage a cyber event. It is the breach coach that engages forensics, legal and notification services that helps to mitigate damage.

Montana 152

Montana Policies Resources FDIC 152

Abrigo

SEPTEMBER 5, 2023

As the FDIC said recently: Exceptions to policy should be few in number and properly justified, approved, and tracked. Abrigo’s credit risk software automates loan administration processes like managing ticklers and tracking loan document and credit exceptions. Get details in "A guide to implementing credit policy."

Policies 195

Policies Lending Risk Management Examples 195

South State Correspondent

MARCH 15, 2023

While we wrote about the root cause of the failure of Silicon Valley Bank (SVB) HERE , the lessons of the current banking crisis go beyond interest rate risk management. While interest rate risk caused the most significant impact on value, several other factors contributed to the terminality of each bank that was closed.

social media 195

social media FDIC Branding Management 195

Abrigo

FEBRUARY 12, 2020

Loans for life insurance companies increased 5%, and government-sponsored entity (GSE) originations fell 1%. CRE loan growth at community banks has been outpacing noncommunity banks, both in the quarter and over the last year, according to the FDIC’s latest Quarterly Banking Profile. . “CRE

Lending 195

Lending Trends FDIC Survey 195

PYMNTS

JULY 14, 2020

percent annual percentage yield (APY), an optional auto-deposit, no fees or minimums, and security as “Affirm Savings is FDIC-insured and accounts are held by our bank partner, Cross River Bank, member FDIC,’” a statement said. In mid-July the company made news again, announcing it will offer its BNPL services at U.S.

Lending 130

Lending FDIC Minneapolis Utah 130

CFPB Monitor

NOVEMBER 22, 2022

Incumbent non-banks are short-term credit providers such as pawn shops and title lenders, specialized installment lenders, such as captive finance companies, non-bank mortgage lenders, money transmitters, and card networks. This includes IDIs acting as lenders in bank/fintech partnerships.

Fintech 78

Fintech Report Data Lending 78

Abrigo

JULY 20, 2021

During Abrigo’s recent ThinkBIG Conference, credit underwriting and loan portfolio risk management trainer and consultant Michael Wear , CRC , of 39 Acres Corp. Lending & Credit Risk. Credit Risk Management. Lending & Credit Risk. Risk Ratings. We know 2020 stunk,” he said. “As Learn More.

Lending 195

Lending FDIC Capital Risk Management 195

Abrigo

JULY 20, 2021

During Abrigo’s recent ThinkBIG Conference, credit underwriting and loan portfolio risk management trainer and consultant Michael Wear , CRC , of 39 Acres Corp. Lending & Credit Risk. Credit Risk Management. Lending & Credit Risk. Risk Ratings. We know 2020 stunk,” he said. “As Learn More.

Lending 195

Lending FDIC Capital Risk Management 195

Abrigo

MARCH 2, 2023

The company has estimated that the impact of its system meltdown during bad weather will cost it as much as $825 million. Community banks and the entire banking industry face downside risks from inflation, rising market interest rates, and continued geopolitical uncertainty, the FDIC said recently in its quarterly report.

Technology 195

Technology Lending Community Software 195

Abrigo

DECEMBER 19, 2019

In 2008, there were 7,061 FDIC-insured commercial banks in the U.S. Many legacy companies] are often simply ill-prepared to develop new products and services in the midst of uncertainty,” said MIT Sloan Management Research. Lending & Credit Risk. Portfolio Risk & CECL. Learn More. Asset/Liability.

Lending 195

Lending Fraud Community FDIC 195

Abrigo

MAY 5, 2022

Thankfully for bank and credit union executives, lenders, risk managers, and Bank Secrecy Act (BSA) Officers, banking podcasts and podcasts for credit unions are plentiful, and options are growing. And for many people heading back to the office from remote work, podcasts can be a productive and enjoyable way to pass the commuting time.

Community 195

Community Lending Maine Resources 195

Jeff For Banks

JUNE 2, 2023

In the late 90s, low interest rates made speculative equity investments more attractive than bonds, and at the same time, innovative internet companies grew in popularity among retail investors, professional traders, venture capitalists, and the like (familiar?). The Y2K scare also had companies pouring money into tech firms.

FDIC 78

FDIC Community Bank Regulation Lending 78

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. Credit Risk Management. Lending & Credit Risk. Learn More.

Lending 195

Lending Data Regulation Community 195

CFPB Monitor

NOVEMBER 24, 2020

The OCC notes that, in the case of energy industries, the terminated services were not limited to lending “where risk factors might justify not serving a particular client,” but also included advisory and other services unconnected to credit or operational risk.

Operations 78

Operations Industry Analysis Policies 78

Jeff For Banks

JULY 31, 2017

Which is very close to the 3-year annual net income growth for all FDIC insured banks. Risk management and the legions of regulators work in tandem to limit growth. How long can a company, a sector, and an industry grow faster than its markets? So by the PEG ratio, banks would appear to be over-valued. Which may be true.

Regional 60

Regional FDIC Industry Risk Management 60

Jack Henry

JULY 2, 2014

Today, a proper IT risk management infrastructure has a direct impact on the character and value of a financial institution which places an unprecedented value on key IT employees. The company goes on to state that banking is one of the top three sectors for turnover, accompanied by drugs/biotech and energy.

Cyber Security 102

Cyber Security Compliance Security FDIC 102

PYMNTS

JULY 16, 2018

Citizens access will offer consumers FDIC-insured online savings and CD accounts with attractive rates and no fees to customers across the United States. billion purchase of Swedish payments company iZettle. PayPal is planning for further acquisitions, setting aside up to $3 billion a year for future deals. “We

Cards 100

Cards Data Digital Banking Retail 100

CFPB Monitor

AUGUST 8, 2019

The letter was conditioned on Upstart’s agreement to a model risk management and compliance plan that required it to analyze and address risks to consumers, and assess the real-world impact of alternative data and machine learning. Upstart’s no-action letter was issued under these procedures.)

Data 60

Data Lending Compliance Policies 60

Independent Banker

NOVEMBER 25, 2015

Call them disruptors, upstarts or the voguish FinTech companies. Meanwhile new competitors regularly emerge, including person-to-person facilitators such as digital wallet provider Venmo, crowd-funding loan provider Lending Club and real-time cryptocurrency settlement company Ripple. Illustration by Getty images / Chris Ede.

Community Bank 70

Community Bank Community Analytics Lending 70

PYMNTS

OCTOBER 1, 2018

The SEC found LCA, LendingClub and Laplanche guilty of fraud for improperly using LCA assets to benefit LendingClub Corporation, LCA’s parent company for which Laplanche was both founder and CEO. By using funds managed by LCA to benefit its parent company, LCA and Laplanche failed to do so.”. The SEC Finding. The DOJ Finding.

Lending 135

Lending Fraud Management San Francisco 135

Jeff For Banks

MAY 20, 2017

To remind readers, in 2006 the OCC, Federal Reserve, and FDIC issued joint interagency Guidance on Concentrations in Commercial Real Estate Lending. Risk mitigants tend to lag growth, especially fast growth. And success is the great mollifier to risk managers that wish to take away the punch bowl when the party's rockin'.

Lending 60

Lending Regulation Community Community Bank 60

Independent Banker

JUNE 30, 2022

But as they always do, they came through for individuals and businesses in their communities with a combination of personalized service and prudent risk management practices. Using FDIC data for 2021, we calculated a lender score out of 100 for each community bank. The Citizens State Bank and Trust Company. By Ed Avis.

Community Bank 172

Community Bank Community National Philadelphia 172

Independent Banker

FEBRUARY 24, 2016

Along with an expanded lineup of general session presentations, more than 200 companies will be exhibiting at Expo to discuss the industry’s latest product and service innovations. He believes the riskiest move companies can make is to cling to the status quo. So we want our checking accounts to be FDIC insured.

Community Bank 70

Community Bank Community Innovation Customer Experience 70

CB Insights

JUNE 5, 2018

Consumers like perks offered by card companies, merchants have bought in, and banks and payments players are happy to provide the infrastructure in exchange for a piece of the pie. The company also offers a suite of tools that include risk management, fraud protection, and data analytics.

Payments 68

Payments Cards US Mobile 68