CFPB Monitor

JANUARY 24, 2019

A group of 13 state attorneys general and the District of Columbia AG have sent a letter to the FDIC commenting on the agency’s request for information on small-dollar lending. They recommend that “the FDIC discourage banks from entering into these relationships in any guidance it issues on small-dollar lending.”.

FDIC 74

FDIC Lending District of Columbia Compliance 74

CFPB Monitor

SEPTEMBER 2, 2016

The American Bankers Association, joined by six other prominent industry trade groups, is seeking a six-month extension of the date by which depository institutions must comply with the Military Lending Act (MLA) final rule adopted by the Department of Defense (DoD) in July 2015 that dramatically expanded the scope of the MLA’s coverage.

Compliance 79

Compliance Groups Lending FDIC 79

CFPB Monitor

SEPTEMBER 22, 2022

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation joined by Martin Bryce, a partner and senior litigator in the firm’s Consumer Financial Services Group, and Kristen Larson, Of Counsel in the CFS Group. To listen to the episode, click here.

FDIC 78

FDIC Compliance Groups Regulation 78

CFPB Monitor

SEPTEMBER 2, 2016

The request was made in a letter to the CFPB, the Fed, the FDIC, the OCC, and the NCUA (Agencies). ” The trade groups note that it was not until last week, on August 26, 2016, that the DoD published in the Federal Register an interpretive rule to provide guidance regarding compliance with the July 2015 final rule.

Compliance 60

Compliance Groups Lending FDIC 60

American Banker

APRIL 28, 2024

Three industry groups are suing the state in an effort to stop its attempted crackdown. The Federal Deposit Insurance Corp. is arguing that Colorado has the right to establish an interest rate cap that all state-chartered banks must follow.

Colorado 36

Colorado FDIC Groups Industry 36

Perficient

JANUARY 25, 2023

According to the Federal Deposit Insurance Corporation (FDIC), in 2000, there were 8,000 commercial banks in the United States, but as of March 2022, that number had dwindled to 4,194 operating physical bank branches.

Banking Trends 474

Banking Trends Trends United States FDIC 474

American Banker

MARCH 13, 2024

A bipartisan group of senators called on the Federal Deposit Insurance Corp. to exercise transparency and expedience in evaluating industrial loan company applications, which grant a type of charter industry experts say is unlikely to be issued in this administration.

FDIC 36

FDIC Exercises Groups Industry 36

Perficient

APRIL 2, 2021

The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the. Office of the Comptroller of the Currency (OCC).

Regulation 309

Regulation Industry Risk Management Analysis 309

American Banker

JANUARY 16, 2024

The Federal Reserve's inexplicable failure to enforce rules requiring Silicon Valley Bank Financial Group to serve as a "source of strength" for its subsidiary saddled the FDIC with billions in extra losses.

FDIC 32

FDIC Groups Policies Compliance 32

CFPB Monitor

NOVEMBER 12, 2018

The Interagency Statement was issued jointly by the Fed, FDIC, NCUA, OCC and CFPB with the stated purpose of “explain[ing] the role of supervisory guidance and to describe the agencies’ approach to supervisory guidance.”. The letter states that the petition is made pursuant to section 553(e) of the Administrative Procedure Act.

Groups 60

Groups FDIC Regulation Policies 60

American Banker

AUGUST 25, 2022

(..)

FDIC 54

FDIC Groups Compliance Lending 54

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

American Banker

NOVEMBER 7, 2016

A group of financial regulators have announced final changes to its ratings system for examining banks' compliance with consumer protection laws. The update to the ratings generally reflects changes in the marketplace since the rating system was adopted in 1980.

Compliance 51

Compliance Regulation System Groups 51

Gonzobanker

FEBRUARY 1, 2024

The FDIC Approved This Ad How many times did we hear a speaker admonish the audience to “be sure and sign up for the FDIC notification list.” Since banks with less than $10 billion in assets continue to struggle in deposit gathering, scale and overall earnings, we wonder how many will not be here in five years? Five Hundred? (Oh

Conference 88

Conference FDIC Arizona Industry 88

Jeff For Banks

DECEMBER 10, 2023

Although the 2022 Top 5 are holding their own and two of them remain in today's Top 5, the 2021 edition included one bank that failed (SVB Financial Group) and one that is voluntarily liquidating (Silvergate). In January 2022, First Citizens did a tangible book value accretive merger of equals with CIT Group.

Fresno 103

Fresno North Carolina Raleigh FDIC 103

CFPB Monitor

NOVEMBER 29, 2021

The 2022 clarity promised by the “roadmap” presumably will supersede, once issued, Interpretive Letter #1179, which appears to function as a general stop-gap until the 2022 publications hopefully provide more detail regarding exactly how banks can attain compliance. Federal banking regulators have been busy in this space.

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

CFPB Monitor

SEPTEMBER 10, 2020

Because CCBank is a state-chartered FDIC-insured bank located in Utah, Section 27(a) of the Federal Deposit Insurance Act authorizes CCBank to charge interest on its loans, including loans to California residents, at a rate allowed by Utah law regardless of any California law imposing a lower interest rate limit.

Utah 78

Utah California FDIC West Virginia 78

CFPB Monitor

FEBRUARY 23, 2022

The agencies consist of the CFPB, FDIC, OCC, Federal Reserve Board, NCUA, HUD, DOJ, and FHFA. Members of Ballard Spahr’s Consumer Financial Services Group have helped a number of clients structure and launch SPCPs.

Regulation 78

Regulation Lending FDIC Compliance 78

Bank Innovation

MAY 31, 2019

New York-based Grasshopper Bancorp, which opened for business to a select group of entrepreneurs and investors earlier this month, this week raised $116 million from investors, including T. Rowe Price Group, Patriot Financial Partners and Endeavour Capital Advisors.

New York 186

New York Groups Capital FDIC 186

PYMNTS

MAY 22, 2018

Tom Hoenig, who stepped down last month as FDIC vice chairman, (said) that the Volcker rule should remain in place but, rather than requiring banks to comply with tedious reporting requirements, allow bank examiners to check compliance with policies and procedures as part of the regular inspection process,” the report added.

Regulation 100

Regulation Regional Community Community Bank 100

Independent Banker

OCTOBER 1, 2022

Federal regulatory groups are drawing more attention to how cyber insurance is a critical part of broader risk management strategies. The FDIC and the OCC also issued an interagency statement on heightened cybersecurity risk that focuses on ways banks can reduce the risk of a cyber attack and minimize business disruptions.

Montana 152

Montana Policies Resources FDIC 152

Independent Banker

SEPTEMBER 25, 2014

Saving money by conducting inside risk management and compliance reviews. 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. By Vanessa Drucker.

Community Bank 70

Community Bank Compliance Risk Management Community 70

FICO

JANUARY 13, 2020

The laws and rules governing anti-money laundering and combating the financing of terrorism compliance have not been substantively updated since the Bank Secrecy Act was adopted in 1970. While regulators have formed an inter-agency working group to develop viable reform measures, Congress has recently taken action to address the problem.

Policies 52

Policies Las Vegas FDIC Washington 52

Jeff For Banks

JUNE 20, 2017

And let's not forget about the thousands of employees that work for regulatory bodies, compliance personnel in banks, and consultants that help them comply. According to the FDIC , disparate impact occurs when a policy or practice applied equally to all applicants has a disproportionate adverse impact on applicants in a protected group.

Data 60

Data FDIC Regulation Washington 60

CFPB Monitor

OCTOBER 22, 2020

” It also requires the Bureau to consult with the Fed, OCC, FDIC, and FTC to ensure, to the extent appropriate, that any rule implementing Section 1033 imposes substantively similar requirements on covered persons, takes into account conditions under which covered persons do business both in the U.S. Standard-setting. Access scope.

Data 78

Data FDIC Digital Banking Compliance 78

Jack Henry

APRIL 30, 2014

One such attack by the group Unlimited Operations was able to net over $40 million. The FDIC provides a listing of resources that can be used to better identify and mitigate potential cyber-risks. The FDIC encourages subscribing to these various groups to ensure that you receive regular security alerts, tips, and other updates.

Fraud 88

Fraud Cyber Security ATM FDIC 88

NCR

AUGUST 31, 2016

Most banks have at least one compliance officer who possesses a cursory knowledge of the mortgage finance arena. Few banks, however, have an entire team of dedicated mortgage QC and compliance experts, so they either have to hire this expertise or outsource it. Mortgage compliance does not come cheap.

Community Bank 49

Community Bank Community Guidelines Compliance 49

Jeff For Banks

MAY 16, 2015

Compliance and audit reports, not included in 5 above 7. Financial progress towards strategic plan 4. Financial condition and performance versus peer 5. High level risk management reports (because more granular risk reports are reviewed in Committee) and trends.

Report 60

Report Policies Risk Management Meeting 60

CFPB Monitor

SEPTEMBER 30, 2022

Populus Financial Group, Inc., Populus contrasts the narrower missions and authority of the Federal Reserve, FDIC, and OCC, which are also self-funded. With regard to the Federal Reserve and FDIC, Populus distinguishes their multimember, bi-partisan leadership structure.

Groups 78

Groups FDIC Texas Leadership 78

American Banker

NOVEMBER 17, 2023

Trade groups voiced concerns that the largest banks are paying to clean up a mess created by regional banks. The Federal Deposit Insurance Corp. has finalized a special assessment that is slightly pricier than originally proposed for banks with uninsured deposits of more than $5 billion.

Regional 36

Regional Groups FDIC Compliance 36

American Banker

AUGUST 1, 2023

The Federal Reserve is leading the push for broader, more standardized risk-capital rules, yet some of its board members, other regulators and industry groups are uncomfortable with the proposal.

Capital 36

Capital Regulation Groups Industry 36

Jeff For Banks

JUNE 1, 2015

The FDIC Pocket Guide for Directors identifies the Board's responsibilities as: - Select and retain competent management. Monitor operations to ensure that they are controlled adequately and are in compliance with law and policies. The metrics are relative to a pre-selected peer group, which is very common in executive compensation.

FDIC 60

FDIC Industry Groups Management 60

Jeff For Banks

DECEMBER 16, 2022

SVB Financial Group (Nasdaq: SIVB) Here is this year's list: #1. They were under an FDIC consent order from 2014 through 2020 relating to their BSA and OFAC compliance and their relationship with third parties seeking access to the banking system. Silvergate Capital Corporation (NYSE: SI) #2. MetroCity Bankshares, Inc.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

American Banker

APRIL 8, 2020

Lenders and community groups say it's a mistake for the banking agencies to move forward during a national crisis. But Comptroller of the Currency Joseph Otting says updated Community Reinvestment Act rules would speed relief to neighborhoods and small businesses.

Regulation 66

Regulation Community National Groups 66

CFPB Monitor

MARCH 26, 2020

The CFPB, OCC, FDIC, Federal Reserve, and NCUA have issued a joint statement “to specifically encourage” banks, savings associations, and credit unions “to offer responsible small-dollar loans to both consumers and small businesses” in response to the COVID-19 outbreak. For example, what rates will the agencies view as “responsible”?

FDIC 78

FDIC Lending National Examples 78

Independent Banker

SEPTEMBER 22, 2015

In June, five federal agencies (including FDIC, Office of the Comptroller of the Currency and the Federal Reserve) announced approval of a final rule that modifies regulations applying to loans secured by properties located in special flood hazard areas. Home equity lines of credit. Non-performing loans.

Regulation 70

Regulation Policies Community Bank Taxes 70

PYMNTS

OCTOBER 1, 2018

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. The DOJ Finding.

Lending 135

Lending Fraud Management San Francisco 135