FICO

JANUARY 13, 2020

Some are saying this spring but in Washington, D.C., The laws and rules governing anti-money laundering and combating the financing of terrorism compliance have not been substantively updated since the Bank Secrecy Act was adopted in 1970. In addition, the Federal Reserve did not join the FDIC and OCC on the proposal.

Policies 52

Policies Las Vegas FDIC Washington 52

Abrigo

SEPTEMBER 22, 2015

Laura Stewart, CEO of Sound Community Bank in Washington said of preparing the call report: "It almost feels like a full-time job." For smaller institutions, compliance can be especially costly. An article in American Banker noted that preparing call reports have become increasingly time-consuming and complex.

Community Bank 150

Community Bank Community FDIC Survey 150

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. According to the FDIC , disparate impact occurs when a policy or practice applied equally to all applicants has a disproportionate adverse impact on applicants in a protected group.

Data 60

Data FDIC Regulation Washington 60

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

Javelin Strategy & Research

SEPTEMBER 2, 2014

This will require several trips a year to Washington, DC along with several touch-points, and I’m looking forward to getting acquainted with the CFPB’s staff and other 24 Consumer Advisory Board (CAB) members. I just accepted a position on the Consumer Advisory Board of the CFPB. I have a lot to learn! So what do you think I should focus on?

Innovation 58

Innovation DC FDIC Strategy 58

Jeff For Banks

DECEMBER 16, 2022

They were under an FDIC consent order from 2014 through 2020 relating to their BSA and OFAC compliance and their relationship with third parties seeking access to the banking system. The bank consists of two segments: 1) the traditional community bank, and 2) CCBX, which is its Banking as a Service (BaaS) division started in 2018.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

PYMNTS

APRIL 17, 2018

And while reports in The Washington Post said the situation was thus “diffused,” the saga was a disruptive reminder that the regulatory landscape for marijuana companies — often small businesses (SMBs) — remains unclear, in flux and risky. They need to run compliance. A lot of them do facility checks. It’s very labor-intensive.”.

Regulation 101

Regulation Taxes Compliance United States 101

American Banker

MARCH 24, 2016

WASHINGTON – Four Democratic senators sent a letter on Thursday to federal financial regulators asking for clear guidance on how banks can serve the marijuana industry.

Regulation 28

Regulation Washington Industry FDIC 28

PYMNTS

FEBRUARY 14, 2019

Ed Perlmutter and Washington Rep. Such prohibition could involve limiting FDIC protections for those deposits, for example, or trying to prevent loans to those businesses. State Bank Northwest has “chosen to not service (cannabis-related businesses) because the compliance and regulatory risks are too great for our bank,” Deckard said.

Oregon 230

Oregon Colorado Operations Washington 230

PYMNTS

FEBRUARY 13, 2019

Two of the speakers at the hearing — Colorado Ed Perlmutter and Washington state Rep. Such prohibition could involve limiting FDIC protections for those deposits, for example, or trying to prevent loans to those businesses. The hearing on Wednesday served as the first hearing for that proposed bill, according to lawmakers and reports.

Oregon 115

Oregon Colorado Operations Washington 115

FICO

DECEMBER 19, 2018

Since the November elections, much of the talk here in Washington, D.C. These are two areas where financial institutions are spending billions of dollars a year on compliance and have been looking to ensure their extensive efforts are properly calibrated to provide regulators with meaningful insights.

Policies 40

Policies District of Columbia Regulation California 40

FICO

JANUARY 9, 2017

Last fall, I suspect that most regulatory compliance professionals in the U.S. 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. consumer lending market anticipated 2017 would be more of the same.

Regulation 40

Regulation Lending New York Leadership 40