CFPB Monitor

JUNE 13, 2022

One issue raised in the RFI is “to what extent should the CFPB be consulted by the FDIC when considering the convenience and needs factor and should that consultation be formalized?”. Similar to the other industry trade groups, the BPI letter noted that the CFPB was not granted by Congress a right to review or comment on bank mergers.

FDIC 78

FDIC Groups Community Meeting 78

BankInovation

OCTOBER 1, 2020

The Federal Deposit Insurance Corporation (FDIC) has taken steps to promote fintech partnerships and diversity and inclusion within the financial services industry, both internally at the FDIC and among the institutions it regulates, FDIC Chairwoman Jelena McWilliams said during the LendIt Fintech USA 2020 conference Wednesday.

FDIC 98

FDIC Fintech Innovation Conference 98

CFPB Monitor

MAY 26, 2021

The FDIC has filed a motion for summary judgment in the lawsuit filed by the Attorney Generals of six states and District of Columbia to set aside the FDIC’s “ Madden -fix” rule. The filing also includes the FDIC’s opposition to the summary judgment motion filed by the AGs.

FDIC 78

FDIC District of Columbia Regulation California 78

Gonzobanker

JUNE 14, 2023

To realize the rewards of the BaaS industry, banks and fintechs are going to have to learn to play by some non-negotiable rules – together. Now, the bank is required to receive FDIC approval for all new third parties and credit products. The FDIC Consent Order is going to impact all partnerships going forward.

Compliance 109

Compliance FDIC Strategy Fintech 109

CFPB Monitor

NOVEMBER 7, 2019

In contrast, CFPB Compliance Bulletin 2015-05 , which was issued during the tenure of former CFPB Director Cordray, raises doubts as to whether marketing services agreements (MSAs) or similar arrangements are permissible under RESPA. The order reflects that all of the agreements were terminated. million dollars.

FDIC 68

FDIC Marketing Compliance Regulation 68

Abrigo

AUGUST 3, 2015

According to a recent survey by the American Bankers Association (ABA), more than 46 percent of respondents had to reduce offerings for loan or deposit accounts, or other services, at their bank because of regulatory compliance burdens. The news isn’t all bad for community banks, though.

Compliance 150

Compliance Community Bank Community Survey 150

American Banker

SEPTEMBER 20, 2023

The lawsuit takes issue with the agency's 2022 guidance on nonsufficient funds fees, a hot-button topic in the banking industry. The FDIC is asking a judge to dismiss the case, arguing that the plaintiffs lack standing to sue.

FDIC 36

FDIC Minnesota Industry Compliance 36

CFPB Monitor

MARCH 24, 2020

The FDIC has issued a proposed rule setting forth the conditions it would impose and the commitments it would require to approve a deposit insurance application from an industrial bank or industrial loan company (collectively, ILC) whose parent company is not subject to consolidated supervision by the Federal Reserve Board (FRB).

FDIC 60

FDIC Taxes Industry Policies 60

Perficient

NOVEMBER 17, 2023

Retail Deposits Defined The FDIC classifies retail deposits as demand or term deposits placed within an FDIC-supervised institution by a retail customer or counterparty, excluding brokered deposits. See also: An Introduction: Generative AI Use Cases for the Financial Services Industry Contact us today!

Retail 221

Retail FDIC Risk Management Management 221

Perficient

NOVEMBER 10, 2023

See Also: FDIC’s New Banker Engagement Site (BES): Improving CRA & Compliance Exam Communication Future Blogs Perficient’s Financial Services Risk Management and Regulatory Capabilities CoE will analyze balance trends for other deposit types using similar data from the same source and time period.

Risk Management 221

Risk Management United States FDIC Compliance 221

BankInovation

OCTOBER 1, 2020

The Federal Deposit Insurance Corporation (FDIC) has taken steps to promote fintech partnerships and diversity and inclusion within the financial services industry, both internally at the FDIC and among the institutions it regulates, FDIC Chairwoman Jelena McWilliams said during the LendIt Fintech USA 2020 conference Wednesday.

FDIC 52

FDIC Fintech Innovation Conference 52

American Banker

NOVEMBER 30, 2023

Brandon Milhorn, former top staffer to FDIC Vice Chairman Travis Hill, has been named president and CEO of the Conference of State Bank Supervisors, effective Monday.

FDIC 36

FDIC Conference Policies Industry 36

American Banker

APRIL 22, 2024

But until that happens, many in the banking industry are skeptical that regulators have actually developed a workable strategy to end "too big to fail." The Federal Deposit Insurance Corp. says it's ready to wind down the global systemically important banks.

FDIC 41

FDIC Marketing Regulation Strategy 41

CFPB Monitor

MARCH 25, 2020

On March 23, 2020, the FDIC’s Office of Minority and Women Inclusion (OMWI) announced that it will request 2019 diversity self-assessments from FDIC-regulated financial institutions. The FDIC regulates insured state banks that are not members of the Federal Reserve System and insured state thrifts.

FDIC 60

FDIC Policies Regulation Training 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

Abrigo

MAY 19, 2023

WATCH Takeaway 1 Loan review officers must figure out how to adhere to the FDIC’s guidance on loan review and credit risk review systems. Takeaway 2 Examining the following objectives and evaluating your loan review system based on them can ensure regulatory compliance.

System 195

System Regulation How To Lending 195

American Banker

MARCH 13, 2024

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. A bipartisan group of senators called on the Federal Deposit Insurance Corp.

FDIC 36

FDIC Exercises 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. Interested in discussing how you can ensure your financial institution is up-to-date with industry trends?

Banking Trends 474

Banking Trends Trends United States FDIC 474

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. ” Click here to register. Our thoughts.

FDIC 78

FDIC Regulation Community Retail 78

Perficient

AUGUST 9, 2022

The financial services industry has made major strides in amping up its overall customer experience game; however, there is still a deficit in the personalization and accessibility of products and services for many Americans. Contact our financial services industry experts today. Trust and Transparency. .

Community 275

Community Customer Experience ATM Examples 275

Independent Banker

SEPTEMBER 25, 2014

This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. Regulators and industry consultants agree that community banks are generally doing a great job handling their regulatory oversight and requirements. percent, which outpaced industry loan growth of 3.6

Compliance 101

Compliance Regulation Community Bank Community 101

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

Abrigo

JANUARY 8, 2016

The GAO acknowledged that community banks, credit unions and their professional industry associations reported increased compliance burdens and reduced activity in specific business activities, such as certain mortgage lending, as a result of Dodd-Frank.

Regulation 150

Regulation FDIC Survey Community Bank 150

PYMNTS

DECEMBER 3, 2019

The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), FinCEN , the OCC and the Conference of State Bank Supervisors participated in issuing the definitions and guidelines. After further evaluation of the USDA interim final rule, the Financial Crimes Enforcement Network (FinCEN) will issue additional guidance.

Regulation 137

Regulation Guidelines FDIC Conference 137

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

SEPTEMBER 8, 2022

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FDIC 69

FDIC Industry Compliance Regulation 69

PYMNTS

DECEMBER 14, 2018

News came earlier in the month that several federal agencies have come out — together — in support of banks embracing innovation in their compliance efforts. Private sector innovation is of value, and pilot programs may be too, which opens the door to FinTech — all of which now can come through industry commentary.

Compliance 148

Compliance Innovation FDIC Examples 148

Gonzobanker

FEBRUARY 1, 2024

Early this week, the conference was the epicenter of discussions, where 2,000 attendees descended upon Arizona to strategize and set the tone for our great industry’s future. 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.”

Conference 88

Conference FDIC Arizona Industry 88

American Banker

FEBRUARY 23, 2024

An FDIC enforcement action against Lineage Bank is part of a wave of cases involving banks that have partnered with fintechs in recent years.

FDIC 48

FDIC Fintech Industry Compliance 48

Abrigo

MARCH 2, 2023

Takeaway 2 According to Forrester data, firms pursuing technology-driven innovation grow three to four times faster than industry averages. But as Southwest’s scheduling system crisis over the holidays showed banking and all other industries, technology shortcomings create enormous costs in the short-term and in the future.

Technology 195

Technology Lending Community Software 195

PYMNTS

APRIL 7, 2016

” “As an industry, there’s not one specific issue we’re particularly worried about — the space is already heavily regulated, with borrower protections on one side and securities rules on the other,” said Sam Hodges, cofounder and U.S. So far, the idea has gotten some good buzz from industry members.

Lending 100

Lending San Francisco FDIC Regulation 100

CFPB Monitor

JULY 15, 2021

The Federal Reserve, FDIC, and OCC have released proposed guidance for banking organizations on managing risks associated with third-party relationships, including relationships with financial technology-focused entities such as bank/fintech sponsorship arrangements. partnerships, joint ventures), including technology companies.

Risk Management 78

Risk Management Management FDIC Compliance 78

Abrigo

AUGUST 7, 2023

Model risk management guidance ( FRB SR 11-7 , OCC Bulletin 2011-12 , FDIC FIL-22-2017 ) outlines that the guiding principle for validation is an effective challenge to the model design, implementation, and use. Assess the economic indicators chosen for the forecasts and ensure they align with industry practices and are correctly implemented.

Risk Management 195

Risk Management Handbook Analysis Management 195

Jeff For Banks

DECEMBER 10, 2023

And I am weary of the persistent "get big or get out" mentality of many industry pundits. Although one might argue that First Citizens BancShares of Raleigh is a SIFI as it climbed to the 19th largest in the country with its Silicon Valley Bridge Bank acquisition from the FDIC, and that the FDIC designated SVB as systemically important.

Fresno 107

Fresno North Carolina Raleigh FDIC 107

FICO

JANUARY 13, 2020

banking industry in the 2020. . Industry is anxious for some clear rules of the road, including resolution on such issues as to how many attempted calls can be made weekly to a debtor and how collectors can leverage modern communications technology (e.g., In addition, the Federal Reserve did not join the FDIC and OCC on the proposal.

Policies 52

Policies Las Vegas FDIC Washington 52

Independent Banker

OCTOBER 1, 2022

The banking industry could face greater regulatory scrutiny and pressure ahead on how they’re managing cyber risks. 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. 73% for compliance audits.

Community Bank 70

Community Bank Compliance Risk Management Community 70