CFPB Monitor

SEPTEMBER 9, 2020

Ballard Spahr LLP has submitted a comment letter to the OCC in support of its proposed rule , “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”). Three virtually identical Federal Interest Statutes govern interest that may be charged by Banks: Section 85 of the National Bank Act (“NBA”), 12 U.S.C. §

FDIC 78

FDIC National South Dakota Lending 78

CFPB Monitor

MARCH 15, 2022

A California federal district court judge recently rejected the California AG’s challenge (in which other states joined) to the FDIC’s rule and, in a separate lawsuit, also rejected a challenge by the California AG and other state AGs to the OCC’s Madden -fix rule codified at 12 C.F.R. Section 7.4001(e).

California 78

California Innovation Utah West Virginia 78

PYMNTS

AUGUST 7, 2019

market is not like others across the globe. Regulatory efforts through the Office of the Comptroller of the Currency aim to connect FinTechs with the opportunity to apply for a national bank charter, an initiative that has been met with criticism and legal action. Bank participation is key to promoting open banking in the U.S.,

Fintech 181

Fintech Strategy Resources Payments 181

FICO

DECEMBER 20, 2018

Indeed, we are already starting to see signs of distress among community and regional banks that lack the advertising budgets and sophisticated digital capabilities of the big national banks. small-dollar lending market. Two recent developments will aid banks’ efforts to break into this market in the next 12 months.

Trends 73

Trends Lending Fraud Exercises 73

PYMNTS

JUNE 14, 2018

That got Brisker thinking: Although there are many useful digital payments tools on the market, there’s nothing that really replaces cash in the way we know it. He believes the next generation must be more holistic, taking a view of the entire market and enabling users to give and use money in the myriad ways they wish to do so.

Tools 118

Tools Virginia Cards Payments 118

CFPB Monitor

JUNE 15, 2020

The OCC acted alone in issuing the final CRA rule without waiting to achieve consensus with the FDIC, the agency with which the OCC had jointly issued the proposed rule. Until the compliance date is reached, banks must continue to comply with parts 25 and 195 of the OCC’s regulations (12 C.F.R.

Community 60

Community FDIC Lending Examples 60

Independent Banker

AUGUST 26, 2015

The bank’s mortgage company has developed a national retail lending presence over the last 18 months using phones and email, rather than branch offices. “We Webster says FDIC officials had “no issue” with the mortgage company’s use of electronic signatures during a recent exam of PrivatePlus Mortgage. Fewer errors.

San Francisco 70

San Francisco Lending System Atlanta 70

Gonzobanker

AUGUST 22, 2014

The costs of regulatory compliance, investments in new technology, investments in physical and digital channels, and thinning industry margins mean banks will need to be of a “certain” size to succeed long term. Once the filters are in place, tools like the FDIC Web site or SNL can help you produce your target list.

Strategy 87

Strategy United States Community New York City 87

CFPB Monitor

MAY 22, 2020

The Federal Reserve, OCC, FDIC, and NCUA have issued “ Interagency Lending Principles for Offering Responsible Small-Dollar Loans.” Effective management of credit, operational, compliance, and other risks. Section 85) governs the interest national banks may charge. Federal law (12 U.S.C.

FDIC 78

FDIC Policies Lending Guidelines 78

PYMNTS

SEPTEMBER 21, 2020

billion transactions for potential suspicious activity and screened more than 157 million transactions for compliance with applicable sanctions requirements. And in PYMNTS’ own coverage, the twin external forces of regulatory scrutiny and market pressures are pushing FIs to retool and strengthen their anti-money laundering (AML) efforts.

Fraud 347

Fraud Report System FDIC 347

Independent Banker

JUNE 30, 2022

Using FDIC data for 2021, we calculated a lender score out of 100 for each community bank. He sensed the family’s passion and liked their idea of starting with selling milk at farmers’ markets, roadside shops and small grocery stores. American Bank, National Association. Classic Bank, National Association. By Ed Avis.

Community Bank 172

Community Bank Community National Philadelphia 172

William Mills

SEPTEMBER 9, 2016

Targeted at Marketing, execs, lines of business owners, etc. Addresses compliance, fraud experience and customer experience analytics. Social media is a special challenge since social media was not created with compliance in mind. 2015 formed aspire to address inefficiencies in alternative lending market.

social media 40

social media ATM Mobile Customer Experience 40

CFPB Monitor

NOVEMBER 22, 2022

The Treasury Department has released a report entitled “ Assessing the Impact of New Entrant Non-bank Firms on Competition in Consumer Finance Markets.” The report looks at the role of these new entrant non-banks, how they interact with insured depository institutions (IDIs), and their impact on these core markets.

Fintech 78

Fintech Report Data Lending 78

Jeff For Banks

MARCH 29, 2014

The Bank offers a wide range of deposit services including demand deposits, regular savings accounts, money market accounts, individual retirement accounts, and certificates of deposit with fixed rates and a range of maturity options. We believe we can effectively compete as a community bank in our market area and the niche markets we serve.

Strategy 101

Strategy Texas San Antonio Fort Worth 101

CFPB Monitor

JULY 12, 2022

However, regulators themselves have been criticized for encouraging de-risking by driving highly risk-adverse decisions by FIs, who are unwilling to take the chance and assume the compliance costs of doing business with specific customers who may in fact be “legitimate,” but whose risk profile is deemed to be high due to their group affiliation.

Regulation 78

Regulation ATM Operations Policies 78

CFPB Monitor

JUNE 25, 2020

The final CRA rule is an effort by the OCC to provide objective measures to evaluate the CRA performance of national banks and savings associations supervised by the OCC (including federal and state-chartered savings associations and uninsured federal branches of foreign banks). This activity will be repeated for other product lines.

Community 97

Community Lending Meeting Retail 97

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.

Community 131

Community FDIC Lending Survey 131

Abrigo

JULY 22, 2022

Takeaway 2 While these financial products are appealing, the lack of stability and consumer protections surrounding them are a concern for the FDIC. ? . Takeaway 3 Financial institutions should notify the FDIC of crypto-related activity and be familiar with the risks of the cryptocurrency world. . A new and unpredictable market.

cryptocurrency 195

cryptocurrency FDIC Regulation Fraud 195

CFPB Monitor

DECEMBER 16, 2020

The OCC and FDIC should rescind their Madden -fix rules and the OCC should rescind its “true lender” rule. The CFPB should rescind its no-action letter policy, trial disclosure program, and compliance assistance sandbox. The DOJ, CFPB, and federal banking regulators should prioritize fair lending enforcement.

Policies 78

Policies Regulation Lending FDIC 78

PYMNTS

FEBRUARY 14, 2019

market for legal weed. Such prohibition could involve limiting FDIC protections for those deposits, for example, or trying to prevent loans to those businesses. Without access to legitimate banking services, the people who run those cannabis shops are forced into “connections” with unsavory people from the black market.

Oregon 230

Oregon Colorado Operations Washington 230

CFPB Monitor

OCTOBER 13, 2020

We recently published a blog about the OCC’s proposed rule “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”), which would clarify that a bank (or savings association) is properly regarded as the “true lender” when, as of the date of origination, it is named as the lender in a loan agreement or funds the loan.

Lending 60

Lending Colorado FDIC National 60

PYMNTS

FEBRUARY 13, 2019

market for legal weed. Such prohibition could involve limiting FDIC protections for those deposits, for example, or trying to prevent loans to those businesses. Without access to legitimate banking services, the people who run those cannabis shops are forced into “connections” with unsavory people from the black market.

Oregon 115

Oregon Colorado Operations Washington 115

CFPB Monitor

JANUARY 9, 2017

We previously reported that Paul Atkins would be on the landing team for the CFPB as well as the landing teams for the FDIC and OCC. Jordan is currently President and CEO of a government relations firm that specializes in strategic business development and President of the National Black Republican Leadership Council.

Leadership 60

Leadership FDIC Policies Compliance 60