Abrigo

JANUARY 24, 2024

Account for the details before your FDIC bank acquisition Consider these tips for assessing your institution and a to-be-acquired institution for a smooth integration You might also like this webinar, "Valuation and purchase accounting: Navigating the changing M&A landscape."

FDIC 195

FDIC Regulation Strategy Data 195

CFPB Monitor

APRIL 7, 2022

The FDIC has issued the March 2022 edition of Consumer Compliance Supervisory Highlights which includes a description of some of the most significant consumer compliance issues identified by FDIC examiners during consumer compliance examinations conducted in 2021. Fair lending.

FDIC 78

FDIC Compliance Lending Regulation 78

CFPB Monitor

MAY 23, 2019

The FDIC has announced that it has entered into a settlement of the lawsuit filed against it and the OCC in 2014 by a trade group and several payday lenders challenging “Operation Choke Point” — a federal enforcement initiative involving the FDIC, OCC and other federal agencies. In July 2017, the D.C.

FDIC 112

FDIC Operations Policies Regional 112

Banking Exchange

NOVEMBER 22, 2021

OCC, Board, FDIC will require banks to report incidents within 36 hours Compliance Compliance Management Compliance/Regulatory Cyberfraud/ID Theft Security Mobile Online Core Systems Risk Management Technology Feature Feature3.

System 159

System FDIC Risk Management Compliance 159

PYMNTS

MARCH 30, 2020

1 accounting standard known as “current expected credit loss” (CECL) in an effort to bolster loans in the wake of the coronavirus, the Wall Street Journal reported on Friday (March 27). Bank regulators have rolled back the Jan.

Report 166

Report US FDIC National 166

Perficient

AUGUST 16, 2023

A rather small bank, as of the end of its first quarter, the bank reported $139 million in total assets and $130 million in total deposits in its FDIC Call Report. Mr. Herndon named the Federal Deposit Insurance Corporation (“FDIC”) as receiver, allowing the FDIC to take control of the Heartland Tri-State’s operations.

United States 221

United States Kansas FDIC Risk Management 221

American Banker

NOVEMBER 29, 2023

The Port Angeles, Washington-based bank said it has already invested "significant resources" into enhancing its compliance management for fintech partnerships, after self-reporting a problem last year.

Examples 89

Examples FDIC Washington Compliance 89

PYMNTS

DECEMBER 18, 2018

Now comes a comic book contribution to one of the most vexing and vital issues of modern payments and commerce — fraud prevention and ID compliance. 18) that is has released a free comic and coloring book entitled “ The Adventures of ID Man and Compliance Kid.”. Compliance, too, could become a juicer in the near future.

Compliance 152

Compliance Fraud Security Course 152

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?”. Whether the FDIC finds these arguments persuasive is yet to be seen.

FDIC 78

FDIC Groups Community Meeting 78

Perficient

DECEMBER 1, 2023

In various press releases, the Federal Deposit Insurance Corporation (FDIC) has highlighted that an estimated $16.3 billion of the total cost incurred from the failures of Silicon Valley Bank (SVB) and Signature Bank was designated for safeguarding uninsured depositors. Commencing with the first quarterly assessment period of 2024 (i.e.,

FDIC 221

FDIC Risk Management Regulation Leadership 221

PYMNTS

FEBRUARY 1, 2021

million fine for violating anti-money laundering (AML) regulations, The Wall Street Journal reported on Monday (Feb. Apple Bank for Savings was accused of failing to comply with the Bank Secrecy Act, according to the Federal Deposit Insurance Corporation (FDIC) per WSJ.

Apple 150

Apple FDIC New York Compliance 150

CFPB Monitor

JUNE 18, 2019

Last week, the FDIC published its Consumer Compliance Supervisory Highlights that provides observations about its consumer compliance supervision activities in 2018. The FDIC’s anonymized exam findings include: Overdraft Programs. Real Estate Settlement Procedures Act (“RESPA”) Section 8 Violations.

FDIC 60

FDIC Compliance Regulation Training 60

CFPB Monitor

MARCH 17, 2021

On March 15, 2021, the FDIC’s Office of Minority and Women Inclusion (OMWI) released a Financial Institution Letter regarding diversity self-assessments. The FDIC’s request mirrors those by shareholder activists to obtain greater disclosure from corporate boards on the efficacy of their diversity programs.

FDIC 78

FDIC CA Policies Compliance 78

PYMNTS

JANUARY 7, 2021

FDIC) and the Treasury Department are looking to see if American Express Co. AmEx) harnessed strong and deceptive sales practices for card sales to business owners and if clients experienced negative effects, The Wall Street Journal reported Thursday (Jan. A representative for the OCC would not comment on the matter, WSJ reported.

Cards 242

Cards FDIC Policies Risk Management 242

American Banker

SEPTEMBER 18, 2023

A recent report by the Office of the Inspector General for the Federal Deposit Insurance Corp. suggests that while the FDIC's strategic plan for economic inclusion is satisfactory, it could be improved by formalizing procedures, self-evaluations and gathering more input from banks.

FDIC 36

FDIC Strategy Report Policies 36

CFPB Monitor

MAY 22, 2020

Although the OCC’s proposed revisions were issued jointly with the FDIC, the FDIC did not join in the final rule. The final rule is effective October 1, 2020 but sets mandatory compliance dates based on the applicable performance standards. Data collection, recordkeeping, and reporting.

FDIC 78

FDIC Lending Retail Compliance 78

CFPB Monitor

NOVEMBER 11, 2021

Concurrently with the release of the joint statement, the CFPB also issued a report titled “ Mortgage Servicing Efforts in Response to the COVID-19 Pandemic.”. This suggests that the agencies might provide some leniency in the event of non-compliance. CFPB mortgage servicing report. forbearance.

Compliance 78

Compliance Regulation FDIC Meeting 78

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 10, 2023

In the first quarter of 2023, these balances plunged over 40% due to reported U.S. bank failures but rebounded in the second quarter. Over the past 18 months, transaction accounts fell by almost 23%, showing they are not entirely inert.

Risk Management 221

Risk Management United States FDIC Compliance 221

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

Abrigo

MAY 20, 2022

Meet Model Risk Management Expectations Updates to the FDIC Risk Management Manual should steer institutions toward a model that manages risk and drives growth. FDIC Update. Last April, the FDIC released an Interagency Statement titled Model Risk Management (MRM) for Bank Models and Systems Supporting BSA/AML Compliance.

Risk Management 195

Risk Management Management FDIC Meeting 195

American Banker

SEPTEMBER 8, 2023

acknowledges in a new report that it didn't adequately monitor First Republic Bank's uninsured deposits, interest rate risk sensitivity and rapid growth — and as a result left the bank vulnerable to contagion. The Federal Deposit Insurance Corp.

FDIC 81

FDIC Report Compliance Regulation 81

CFPB Monitor

DECEMBER 2, 2021

As anticipated, the OCC, Federal Reserve Board, and FDIC recently approved and released the Final Rule Requiring Computer-Security Incident Notification (“Final Rule”). It places new reporting requirements on both U.S. banking organizations, as well as bank service providers. .

Regulation 78

Regulation Report FDIC Security 78

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

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. Data collection, recordkeeping, and reporting.

FDIC 78

FDIC Regulation Community Retail 78

American Banker

NOVEMBER 30, 2023

A report by the Federal Deposit Insurance Corp.'s 's Office of Inspector General identified issues in the regulator's oversight of First Republic Bank.

FDIC 28

FDIC Report Regulation Compliance 28

American Banker

MAY 15, 2024

Chairman apologized for his management and temper at a House Financial Services Committee hearing that focused on his handling of the agency in the immediate aftermath of a workplace behavior report outlining serious misconduct that prevailed for years.

FDIC 35

FDIC Management Report Policies 35

CFPB Monitor

OCTOBER 17, 2022

Last week, the CFPB released its eleventh annual report to Congress on college credit card agreements. The annual report is mandated by the CARD Act. The CARD Act requires mandatory reporting to the CFPB by card issuers on agreements with institutions of higher learning or certain affiliated organizations (such as alumni associations).

Cards 78

Cards Report Regulation FDIC 78

American Banker

AUGUST 14, 2023

In its annual report, the Federal Deposit Insurance Corp. explored the various credit, market and operational risks facing the banking sector. It also explored crypto and climate issues.

FDIC 67

FDIC Operations Marketing Report 67

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). Cybersecurity.

Regulation 309

Regulation Industry Risk Management Analysis 309

Independent Banker

SEPTEMBER 25, 2014

This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. As David Barr, spokesperson for the FDIC, points out, “a vast majority of community banks remain well-rated and exhibit satisfactory corporate governance programs and compliance management systems.”.

Compliance 101

Compliance Regulation Community Bank Community 101

Abrigo

JANUARY 8, 2016

A lengthy report released recently by the U.S. 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. “For

Regulation 150

Regulation FDIC Survey Community Bank 150

Abrigo

JUNE 2, 2021

Does it address a “culture of compliance”? Delegating tasks such as gathering documentation and creating reports can help spread the burden of exam time. Culture of compliance. This includes compliance from top, to middle, to frontline leadership. This includes compliance from top, to middle, to frontline leadership.

How To 195

How To Training Compliance Policies 195

Perficient

SEPTEMBER 6, 2023

RELATED CONTENT : Regulatory Risk and Compliance in Financial Services Share Your Thoughts With OCC Regulators by November 30, 2023 You may submit comments to the OCC by any of the methods set forth below. These requirements, with a balance sheet depletion allowance of 0.5 Comments must be received on or before November 30, 2023.

Regulation 221

Regulation DC Capital Washington 221

PYMNTS

DECEMBER 3, 2019

Banks no longer have to submit a suspicious activity report (SAR) just because a business is growing or cultivating hemp. Financial institutions should follow standard SAR procedures and submit a report only if there is questionable behavior.

Regulation 137

Regulation Guidelines FDIC Conference 137

Abrigo

APRIL 12, 2016

The FDIC is offering a fresh take on how a bank’s board of directors should understand and manage risk. The regulator’s April edition of Supervisory Insights provides what the FDIC called a “refresher” on its Pocket Guide for Directors, the 1988 booklet outlining the basic duties and responsibilities of a bank’s board of directors.

Management 150

Management FDIC Risk Management Community Bank 150

American Banker

JUNE 7, 2023

The interagency report recommends practices for financial institutions to manage relationships with fintechs and other third parties.

FDIC 56

FDIC Fintech Management Report 56