CFPB Monitor

OCTOBER 27, 2022

Earlier that same month, the CFPB announced it would exercise its supervisory authority under the Consumer Financial Protection Act to scrutinize discriminatory conduct as an unfair practice independent of federal fair lending laws. which is being challenged in court by the U.S. Consumer Financial Protection Bureau.

Groups 78

Groups Exercises Lending Policies 78

South State Correspondent

MARCH 14, 2024

If your duration is too long or your BSA compliance is weak, those aren’t good things, but that is not how the bank is going to fail. Banks need to evaluate new technology, new lending areas, and new cash management levels to name a few with a longer time horizon and with some process rigor. Risk management also needs to change.

Innovation 195

Innovation Strategy Capital Comparison 195

Abrigo

JULY 14, 2023

This exercise may reveal the need for bigger-picture data analysis. For example, your top goal for next year might be to expand your lending geographic footprint. Start with an Inventory of your goals/issues and rank them in descending order. So, in this situation, the institution will add reports showing the makeup of deposits (e.g.,

Strategy 195

Strategy Data Analytics Analysis 195

Abrigo

NOVEMBER 22, 2021

Consumer Lending Laws & Compliance Financial institutions offering consumer loans need to know about these major consumer lending laws and recent compliance issues. You might also like this webinar, "Consumer Lending 101.". Consumer lending compliance spotlight. Pandemic Issues.

Compliance 195

Compliance Lending Risk Management Regulation 195

CFPB Monitor

DECEMBER 29, 2021

The trade groups have appealed from the district court’s final judgment granting the CFPB’s summary judgment motion and staying the compliance date for the payment provisions until 286 days after August 31, 2021 (which would have been until June 13, 2022). The payment provisions represent a valid exercise of that authority by the Bureau.

Groups 78

Groups Exercises Compliance Payments 78

CFPB Monitor

JANUARY 28, 2015

Mishkin In a new compliance bulletin (2015-01), the CFPB reminds supervised financial institutions, including nonbanks, of their obligations regarding the disclosure of confidential supervisory information (CSI). CFPB Exams CFPB confidential information examination supervisory'

Compliance 60

Compliance Regulation Exercises Course 60

CFPB Monitor

JANUARY 7, 2021

However, the AG plaintiffs in the new lawsuit instead view the Rule as “an unlawful attempt” by the OCC to “facilitate predatory lending” and support “rent-a bank schemes.”. If a bank fails to satisfy its compliance obligations, the OCC will not hesitate to use its enforcement authority consistent with its longstanding policy and practice.

District of Columbia 78

District of Columbia North Carolina New York Policies 78

South State Correspondent

APRIL 27, 2022

Journey mapping with meaning – Journey mapping is not a one-time exercise or some bank marketing consultant’s final deliverables. Battle complacency – At no time should you roll out a bank product such as digital account opening, lending platform, or even a website and think you are done. It is rarely the other way around.

Customer Experience 195

Customer Experience eBook User Experience Policies 195

FICO

DECEMBER 20, 2018

The annual exercise of staring into our crystal balls and making predictions for the coming year has begun. In our current rising rate environment, any bank that can’t grow (or at least sustain) its deposits base will face shrinking net interest margins and a competitive disadvantage in their consumer lending businesses.

Trends 73

Trends Lending Fraud Exercises 73

Abrigo

FEBRUARY 24, 2022

The rule is effective for credit union examinations starting on or after April 1, 2022, and examiners will focus on compliance with this component in upcoming exams, according to the NCUA’s 2022 Supervisory Priorities. When going through this exercise, remember the relationship between risk and return. Lending & Credit Risk.

Management 195

Management Analysis Strategy Policies 195

CFPB Monitor

APRIL 11, 2022

A Connecticut federal district court has refused to dismiss claims filed by the CFPB against a mortgage company and three of its principals for alleged Truth in Lending Act (TILA), Mortgage Act and Practice (MAP) Rule, and Consumer Financial Protection Act (CFPA) violations.

Connecticut 78

Connecticut Company Regulation social media 78

BankUnderground

AUGUST 9, 2022

Widespread adoption of crypto in the metaverse, or any other setting would require compliance with robust consumer protection and financial stability regulatory frameworks. In the future, people could shop, exercise and socialise within the metaverse. In this post, we focus on the open-metaverse vision.

System 126

System blockchain cryptocurrency Lending 126

CFPB Monitor

JANUARY 12, 2021

Congress should authorize the Bureau to issue licenses to non-depository institutions that provide lending, money transmission, or payment services. Congress should grant the Bureau explicit authority to examine institutions for Military Lending Act compliance. Bureau reorganization. enforcement, rulemaking and supervision).

Report 78

Report Regulation Policies Compliance 78

CFPB Monitor

JULY 30, 2020

In particular, the Bureau seeks to explore “cutting-edge issues” at the intersection of fair lending and innovation and develop “viable solutions” to regulatory compliance challenges financial institutions face in complying with ECOA and Regulation B.

Regulation 78

Regulation Lending Industry Innovation 78

CFPB Monitor

SEPTEMBER 25, 2015

The joint complaint filed by the CFPB and DOJ in federal district court in New Jersey states that the action resulted from a joint investigation by the agencies of the bank’s lending practices following the CFPB’s referral of the bank to the DOJ pursuant to the ECOA. .” million civil money penalty to the CFPB.

NJ 60

NJ New Jersey New York Philadelphia 60

Independent Banker

JULY 31, 2022

Assessing the value of bank branches is an exercise that began long before the pandemic, but vaccine and mask mandates added new considerations to the debate. Rethinking branches isn’t a one-size-fits-all exercise. Consider your branch strategy. Pyles notes that while Louisville, Ky.-based Elizabeth Judd is a writer in Maryland.

Strategy 135

Strategy Community Bank Louisville Community 135

CFPB Monitor

MAY 6, 2015

According to the CFPB in the preamble, “the final rule is not prescriptive as to how or when the states must exercise the authority or mechanisms. Exercise of such authority and mechanisms is determined at the discretion of the states, subject to monitoring by the ASC for effectiveness in the judgment or discretion of the ASC.”

Company 60

Company Management National Exercises 60

Gonzobanker

JUNE 29, 2018

I eat, sleep and breathe lending, so of course I’d recognize the glaring similarities between the recent royal wedding and my bank and credit union clients’ relationships with their loan origination system vendors. This exercise can potentially add more value than the new LOS itself. Lend wisely, DJ. What’s a Lender to Do?

System 60

System Training Lending Management 60

CFPB Monitor

SEPTEMBER 8, 2016

The Department of Defense (DoD) has issued an interpretive rule to assist the industry in complying with its July 2015 final rule amending the Military Lending Act’s implementing regulation. The DoD consulted with the CFPB in developing the final rule, and the CFPB actively supported the DoD’s plans to expand MLA coverage.

Compliance 60

Compliance FDIC Security Regulation 60

Gonzobanker

JULY 28, 2014

Lending execs across the country were clearly dissatisfied with how manual processes and lackluster technology were used to stumble through those massive re-fi volumes. Bankers face a lot of work and challenges as they attempt to marry new lending systems with elegant, customer-friendly lending processes. Now we’re talking! .

System 103

System Lending Data US 103

PYMNTS

NOVEMBER 19, 2019

Then the online lenders rose up and said they could do lending better and faster than the banks. The Lessons of Lending . The evolution of online lending, Edwards noted, serves as a good microcosm of how instant payments are changing and raising the level of financial services across the ecosystem.

Lending 109

Lending Online Payments Exercises 109

Fintech Labs Insights

JUNE 7, 2016

If we can have a client’s needs better serviced all in one place – from financial planning, lending, to credit card needs – then it’s a deeper relationship between a client and firm and an overall better client experience. We also have similar industry-specific offerings in Banking, Insurance, Trade Surveillance, and Regulatory Compliance.

Management 12

Management Analytics New York Industry 12