Perficient

NOVEMBER 30, 2021

As always, the regulators’ main concern was to promote safety and soundness, consumer protection, and compliance with applicable laws and regulations, including anti-money laundering (AML) and illicit finance statutes and rules. Activities involving payments, including stablecoins. 2022 Planned Roadmap.

cryptocurrency 309

cryptocurrency Regulation Policies Compliance 309

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

PYMNTS

NOVEMBER 23, 2020

While many digital-first companies springboard from payments into lending, Figure Technologies , a FinTech focused on home improvement, debt consolidation and retirement products that leverage blockchain protocols, is branching out from lending into payments. Enter Figure Pay – And The Barbell Effect .

National 215

National blockchain Montana Lending 215

CFPB Monitor

MAY 22, 2020

The Federal Reserve, OCC, FDIC, and NCUA have issued “ Interagency Lending Principles for Offering Responsible Small-Dollar Loans.” In that statement, the agencies indicated that they were “working on future guidance and lending principles for responsible small-dollar loans.”.

FDIC 78

FDIC Policies Lending Guidelines 78

CFPB Monitor

AUGUST 24, 2020

Supreme Court, a Colorado appellate court (after any chance for appeal has run) or the FDIC adopts a “true lender” test that differs from the safe harbor). Licensing Criteria – The fintechs must obtain supervised lender licenses if they take assignment of loans and collect payments or enforce rights against consumers.

Colorado 78

Colorado Fintech Lending Online 78

FICO

OCTOBER 4, 2016

The potential of alternative data in consumer lending decisions continues to be a hot topic in Washington, D.C., When federal banking agencies recently revised their Q&As for CRA compliance , their focus on the use of alternative data caught my eye.

Lending 74

Lending Data Community FDIC 74

CFPB Monitor

JULY 14, 2022

The Industry Letter is intended to alert institutions that the DFS “will evaluate whether Institutions are engaged in deceptive or unfair practices with respect to overdraft and NSF fees in future Consumer Compliance and Fair Lending examinations.”. Authorize positive, settle negative (APSN) transactions.

FDIC 78

FDIC Compliance Software Lending 78

Jeff For Banks

DECEMBER 10, 2023

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. Nasdaq: TBBK) Founded in 2000, this $7.5

Fresno 101

Fresno North Carolina Raleigh FDIC 101

CFPB Monitor

NOVEMBER 22, 2022

The report focuses on fintech and other new entrant “non-incumbent” non-banks that are directly involved in providing digital financial products and services in the core consumer finance markets of deposits, payments, and credit.

Fintech 78

Fintech Report Data Lending 78

American Banker

DECEMBER 13, 2019

The plan would increase lending and transparency, the regulators say; the company says the rule unfairly lumps together digital wallets and prepaid cards.

FDIC 50

FDIC Lending Regulation Cards 50

FICO

DECEMBER 20, 2018

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. Emerging Payment Solutions Will Grow Up. Emerging Payment Solutions Will Grow Up. small-dollar lending market.

Trends 73

Trends Lending Fraud Exercises 73

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

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

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. A creditor can satisfy this requirement by providing the information orally in a payment schedule or account-opening disclosure.

Compliance 60

Compliance FDIC Security Regulation 60

Jeff For Banks

DECEMBER 16, 2022

In addition, the bank developed a niche in the payments business, sponsoring multiple independent sales organizations (ISOs) specializing in bankcard and ACH payment solutions, generating $2.5 Since 2016, over 50% of total deposits are non-interest bearing, driving superior cost of funds and net interest margin.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

CFPB Monitor

JULY 6, 2020

In the preamble to the new agenda, the Bureau states that in response to stakeholder input, it “is now evaluating what, if any, other actions to take with respect to the application of the payments provisions of the [final rule] to the short-term, longer-term balloon-payment, and certain high cost installment loans covered by those provisions.

Regulation 78

Regulation Policies FDIC Lending 78

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. Attorney Alex Tse. “We The Response.

Lending 135

Lending Fraud Management San Francisco 135

Independent Banker

FEBRUARY 24, 2016

A whopping 95 percent of ICBA members are active commercial real estate (CRE) lenders, according to the latest ICBA Community Bank Lending Survey. Bank examinations also are uncovering less-restrictive loan covenants, extended maturities, longer interest-only payment periods and limited guarantor requirements. Responsible lending.

Community Bank 70

Community Bank Lending Community Regulation 70

ABA Community Banking

OCTOBER 1, 2019

Heated competition for bank funding is an increasingly important focus for community bank leaders, according to an annual survey released today by the Federal Reserve, the FDIC and the Conference of State Bank Supervisors. The post Survey Finds Cost of Funds Top of Mind for Community Bankers appeared first on ABA Banking Journal.

Survey 49

Survey Community FDIC Community Bank 49

Javelin Strategy & Research

SEPTEMBER 2, 2014

I’m not a compliance expert and am equally inexperienced on such pan-industry areas such as lending or payday loans, yet I do know how digital innovation changes the value proposition for all participants in the industry. So what do you think I should focus on? I’d like to hear from you.

Innovation 58

Innovation DC FDIC Strategy 58

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

William Mills

SEPTEMBER 9, 2016

Demo: AutoGravity App – can see 4 fare offers and show payment and rate before they walk onto the dealership. Addresses compliance, fraud experience and customer experience analytics. Social media is a special challenge since social media was not created with compliance in mind. Auto-financing is ripe for innovation.

social media 40

social media ATM Mobile Customer Experience 40

FICO

JANUARY 9, 2017

Last fall, I suspect that most regulatory compliance professionals in the U.S. consumer lending market anticipated 2017 would be more of the same. While I won’t ever be mistaken for Nostradamus, amidst this regulatory sea change, I feel (relatively) confident in sharing with you my top regulatory compliance predictions for 2017.

Regulation 40

Regulation Lending New York Leadership 40