CFPB Monitor

FEBRUARY 23, 2022

The agencies consist of the CFPB, FDIC, OCC, Federal Reserve Board, NCUA, HUD, DOJ, and FHFA. Two leaders of the CFPB’s Fair Lending Office recently published an article advocating for broader use of SPCPs by creditors and calling SPCPs a “central priority” for the CFPB’s efforts to address racial equity.

Regulation 78

Regulation Lending FDIC Compliance 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

American Banker

AUGUST 25, 2022

(..)

FDIC 54

FDIC Groups Compliance Lending 54

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. So what am I talking about, that deposit insurance is why banks don't do like FinTech lending firms and use alternatives to the FICO score in underwriting consumer credits?

Data 60

Data FDIC Regulation Washington 60

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

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. lending marketplace. Attorney Alex Tse. “We The Response.

Lending 135

Lending Fraud Management San Francisco 135

Jeff For Banks

DECEMBER 16, 2022

SVB Financial Group (Nasdaq: SIVB) Here is this year's list: #1. They provide white label payments and depository services (think Paypal, Chime) and deploy that funding into specialized lending programs such as lending to wealth management firms, commercial fleet leasing, and real estate bridge lending. Nasdaq: MCBS) #3.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

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.

FDIC 78

FDIC Lending National Examples 78

Independent Banker

SEPTEMBER 22, 2015

Avoiding potential lending hazards from regulatory flood-insurance requirements. 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.

Regulation 70

Regulation Policies Community Bank Taxes 70

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. The proposed rule , unveiled Sept. They just weren’t coming very soon.

Lending 195

Lending Data Regulation Community 195

CFPB Monitor

NOVEMBER 22, 2022

While the report does not address “true lender” challenges in bank/fintech lending relationships, it does discuss the risk of “so-called ‘rent-a-charter’ schemes that market themselves as innovative fintech lending platforms, but operate with essentially the same harmful business model as a traditional payday lender.”

Fintech 78

Fintech Report Data Lending 78

Independent Banker

JUNE 30, 2022

Here, we highlight some of last year’s most successful loan producers in the areas of agriculture, commercial and consumer/mortgage lending. Using FDIC data for 2021, we calculated a lender score out of 100 for each community bank. Ag lending in the South: Relationships matter. It also indirectly benefits our lending business.

Community Bank 172

Community Bank Community National Philadelphia 172

CFPB Monitor

DECEMBER 7, 2022

As a reminder, in March 2022, the CFPB updated its exam manual and announced, “In the course of examining banks’ and other companies’ compliance with consumer protection rules, the CFPB will scrutinize discriminatory conduct that violates the federal prohibition against unfair practices.” Chamber of Commerce and other trade groups. .

Community 78

Community Compliance Industry National 78

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

CFPB Monitor

JUNE 25, 2020

The final rule is effective October 1, 2020 but sets mandatory compliance dates based on the applicable performance standards. Until compliance with the final rule, national banks and federal savings banks must comply with the OCC’s current rule. These banks conduct a majority of all CRA activity in the United States.

Community 97

Community Lending Meeting Retail 97

Jeff For Banks

MARCH 29, 2014

Lending services include commercial loans to small to medium-sized businesses and professional concerns as well as consumers. The amount of deposits available to us while maintaining full FDIC insurance protection for our trust customers has consistently exceeded $30 million for the last three years.

Strategy 101

Strategy Texas San Antonio Fort Worth 101

William Mills

SEPTEMBER 9, 2016

From their web site: Based in San Francisco, MarketX was founded by a group of experienced professionals from finance, legal, and technology backgrounds. Addresses compliance, fraud experience and customer experience analytics. Social media is a special challenge since social media was not created with compliance in mind.

social media 40

social media ATM Mobile Customer Experience 40

Jeff For Banks

MARCH 3, 2014

Without Uncle Sam''s interference, I think a five-year, 30-year amortizing loan would be the norm, and everyone would understand it, and the cost to lend and therefore the cost to the borrower would be much lower. Bank CFO: The FDIC is on a rising rate binge. as told to me banker quotes banker tweets Jeff Marsico Kafafian Group'

Branch Strategies 89

Branch Strategies FDIC Strategy Industry 89

CFPB Monitor

JANUARY 28, 2021

Although the OCC’s CRA final rule technically became effective on October 1, 2020, it provides transition periods for compliance based on a bank’s asset size, type of charter, and business model. the CRA evaluation measure benchmarks, retail lending distribution test thresholds, and community development minimums).

FDIC 131

FDIC Community Lending Survey 131

CFPB Monitor

OCTOBER 13, 2020

Supporters point out the Proposed Rule would result in strong and consistent supervision of bank-fintech partnerships across the country, ensuring fairness and compliance with applicable laws, and note the Proposed Rule would keep the costs of credit down and encourage innovation.

Lending 60

Lending Colorado FDIC National 60