Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech for banks to enhance their processes. What is regtech?

Technology 195

Technology Fraud Compliance Regulation 195

Perficient

NOVEMBER 30, 2021

Using what could be described as “agile policy-making,” the agencies conducted a series of interagency “policy sprints” focused on crypto assets. Stablecoins are cryptocurrencies that attempt to peg their market value to some external reference. Activities involving payments, including stablecoins.

cryptocurrency 309

cryptocurrency Regulation Policies Compliance 309

Abrigo

FEBRUARY 16, 2024

It's about ensuring that every aspect of your lending operation is optimized for efficiency and effectiveness. Clearly defined policies and procedures can help avoid confusion and streamline credit operations. Assess and control key risk areas with an effective credit policy.

Training 195

Training Risk Management Analysis Policies 195

CFPB Monitor

OCTOBER 25, 2022

Under the settlement, Rhinebeck will pay a $950,000 civil money penalty, provide restitution to borrowers, and develop a compliance plan which includes updates to its auto policies to cap dealer markups on installment contracts purchased by the bank. The dealer markup was capped at 2% after December 15, 2020. L. §§ 296-a(1)(b) and (3).

New York 78

New York Lending Community Bank Community 78

PYMNTS

SEPTEMBER 6, 2018

Compliance and risk? Automating that compliance is now a “need to have.”. Compliance and risk officers have the unenviable task of finding out, sometimes after the fact, that not all the boxes are checked — if they even knew the boxes were there for checking in the first place. Plugging In To Plugins.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

Abrigo

FEBRUARY 23, 2023

For smaller banks, longer-term industry consolidation trends and competition are also eroding deposit market share. According to the Federal Reserve Bank of Kansas City , community banks’ deposit market share dropped to 15% in 2022 from 22% in 2013. Check out our 1071 compliance resources. The result?

Community Bank 195

Community Bank Kansas City Community Lending 195

Abrigo

MAY 18, 2023

The guidance expects the scope to consider current market conditions (soaring lumber and construction materials prices, the pandemic, cybercriminals shutting down oil pipelines) that may impact a borrower’s current or future ability to repay the loan. This certainly qualifies loan review as a high-scope activity.

Lending 195

Lending Training Guidelines Policies 195

PYMNTS

JUNE 10, 2019

The Financial Stability Board says Basel III rules have not led to a squeeze of the small business bank lending market, according to reports on Friday (June 7). The FSB announced Friday the findings of its analysis of Basel III regulations on the small business lending space.

Lending 100

Lending Capital Regulation Survey 100

Abrigo

AUGUST 8, 2021

Takeaway 3 Timely risk ratings and a written review policy are critical components of effective loan review and credit review. Larger or more complex institutions might have credit risk review functions entirely separate from their lending functions. It also monitors compliance with applicable regulations and laws.

System 195

System Lending Policies Regulation 195

Abrigo

APRIL 21, 2023

Focus loan reviews on risk in the portfolio Continuous loan review monitoring helps banks and credit unions ensure credit review systems support safe and sound lending. discussed how they use continuous monitoring in their efforts to ensure safe and sound lending practices.

Lending 195

Lending Risk Management Software System 195

CFPB Monitor

AUGUST 6, 2018

On July 26, 2018, the Federal Reserve Board (“ FRB “) announced the launch of the “Consumer Compliance Supervision Bulletin” (the “ Bulletin “) and simultaneously published its first issue. With this in mind, the July 2018 Bulletin focuses on a wide-range of consumer protection issues, including: Redlining.

Compliance 68

Compliance Risk Management Lending Training 68

Abrigo

OCTOBER 14, 2022

Takeaway 1 Loan modifications training, automating processes, and updating policies and procedures can help prepare organizations for change. So how can banks help customers keep up in uncertain markets? A good place to start on tightening up credit risk management is updating policies and procedures for the new environment. “If

Risk Management 195

Risk Management Management Policies Lending 195

CFPB Monitor

OCTOBER 4, 2022

The key allegations in the DOJ’s complaint are the following: During the relevant time period (2015-2021), the Newark, New Jersey-Pennsylvania Metro Division (Newark MD) as delineated in 2015 included Essex, Somerset, Union, Sussex, and Morris counties in New Jersey (Newark Lending Area). unlikely to be caused by chance) and sizeable.

New Jersey 147

New Jersey Lending Community National 147

Abrigo

MAY 24, 2023

This lack of access to financial services hinders these businesses’ abilities to gain a market foothold and contributes to the flourishing of an unregulated, underground marketplace. The SAFE Banking Act also promotes the safety of millions of consumers who patronize state-legal cannabis markets.

Lending 195

Lending Fraud Operations Ohio 195

Abrigo

NOVEMBER 15, 2019

Key Takeaways Effective credit risk review promotes lending agility. Effective credit risk review promotes lending agility. And you’ll be able to react to changes in the market faster without concern that you have ‘bombs’ waiting for you in the portfolio.”

System 150

System Lending Compliance Risk Management 150

American Banker

MAY 14, 2024

Community Financial Development Institutions' mission-driven lending has traditionally been a small segment of the lending market. That's beginning to change, but plugging into secondary lending markets might not be the kind of change communities need.

System 65

System Community Lending Marketing 65

PYMNTS

JULY 28, 2020

Alternative small business lending platform Kabbage recently augmented its offering for small- to medium-sized businesses (SMBs) with the debut of its checking account connected to a range of digital banking services. ’s financial services arena — and some areas of the market in which it has fallen short.

Fintech 279

Fintech Lending Digital Banking Technology 279

Abrigo

APRIL 7, 2022

When these consolidations go smoothly, benefits include: enhanced market power more room for expansion without the cost of brick-and-mortar investments the ability to provide a variety of services a more diverse customer base to draw from. Nationwide, the outlook on financial mergers and acquisitions is also trending higher. Get organized.

Compliance 195

Compliance Policies Fraud Analysis 195

Abrigo

JUNE 5, 2023

This report requires (and therefore improves) communication between the credit and lending area of the bank or credit union and those responsible for liquidity management. the movement of money out of money market funds to CDs versus new deposit money coming in). Core deposits should be assessed not only by deposit type (e.g.,

Report 195

Report Risk Management Capital Data 195

CFPB Monitor

JUNE 14, 2021

Two leaders of the CFPB’s Fair Lending Office – Patrick Ficklin, Fair Lending Director, and Charles Nier, Senior Fair Lending Counsel – recently published an article advocating for broader use of special purpose credit programs (“SPCPs”) by creditors. PRRAC is a civil rights law and policy organization based in Washington, D.C.

Lending 78

Lending Regulation Study Washington 78

PYMNTS

JUNE 7, 2019

19, 2019 compliance date for the mandatory underwriting provisions for its short-term, small-dollar (payday) rule, according to various reports. Compliance is being delayed 15 months, to Nov. CBA commends the Bureau for reexamining the small-dollar credit marketplace and how lenders in this market meet consumers’ need for credit.

Compliance 134

Compliance Lending Policies Meeting 134

Jeff For Banks

APRIL 4, 2024

The Fed has paused for nearly a year now, and it was our experience in 2006-07 that bank cost of funds continued to increase as the market closed the delta between what someone could earn in a money market mutual fund and a bank account. But not until $1 trillion went from banking to money markets.

Banking Trends 115

Banking Trends Trends Millennials Oregon 115

Long Lasting Ideas

AUGUST 7, 2014

The expansion of social media in the workplace and for personal use has made it vital for financial institutions to include a specific social media policy within its policies and procedures. Policies are needed to provide guidance to employees concerning appropriate use and for financial institution’s to manage risk assessment.

social media 69

social media Policies How To Handbook 69

PYMNTS

DECEMBER 23, 2019

Its omnipresence is altering how members want to interact with their CUs, though regulatory and compliance issues often mean that members cannot reasonably expect the same lightning-fast interactions they might get from banks and FinTech firms. Deep Dive: CUs Deploy Emotional Marketing Campaigns To Stay Competitive. About The Tracker.

Data 131

Data Lending Michigan Regulation 131

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

AUGUST 18, 2020

These schemes are marketed as “get rich quick” ploys, usually targeted at the unemployed. If you’re a small institution that only did PPP lending to your existing customers and decided not to do a lookback based on a risk-based approach, document that in your policies and procedures , ” said Luttrell. Lending & Credit Risk.

Fraud 195

Fraud Lending Trends Compliance 195

Abrigo

JANUARY 17, 2024

Look into wires to and from foreign countries more skeptically,” said Terri Luttrell, Director of Compliance and Engagement at Abrigo. “A Policies that promote the employment of former trafficking victims can help end cycles of trafficking, as well.

Training 259

Training Community Software Texas 259

CFPB Monitor

APRIL 29, 2015

The CFPB has issued a fair lending report covering its fair lending activities during 2014. The report states that in 2014, CFPB fair lending supervisory and public enforcement actions required institutions to provide approximately $224 million in remediation.

Lending 60

Lending Report Policies Compliance 60

CFPB Monitor

MAY 3, 2016

The CFPB has issued a report covering its fair lending activities during 2015. The report states that in 2015, CFPB fair lending supervisory and public enforcement actions required institutions to provide approximately $108 million in remediation. Much of the information contained in the report was the subject of previous blog posts.

Lending 60

Lending Report Compliance Meeting 60

PYMNTS

DECEMBER 8, 2019

Asset management, payments and lending are being offered by Microsoft, Amazon, eBay, Baidu, Apple, Facebook and Tencent — all which have colossal databases. BigTech’s entry into finance has had benefits, like financial inclusion in emerging markets and underbanked economies. However, there could be risks to financial stability.

Regulation 131

Regulation Data Google Fintech 131

Abrigo

JULY 14, 2023

For example, say your management and board’s strategy for the upcoming year is to grow the CRE loan portfolio by 10%, and the institution needs to consider expanding into new markets to achieve this goal. This analysis will identify CRE types where the institution may be already bumping up against its in-house policy concentration limits.

Strategy 195

Strategy Data Analytics Analysis 195

BankUnderground

NOVEMBER 27, 2020

We show that ring-fencing has an important impact on banking groups’ funding structures , and find that this incentivises banks to rebalance their activities towards retail mortgage lending and away from capital markets, with important knock-on effects for competition and risk-taking across the wider banking system.

Lending 110

Lending Retail Groups Maine 110

American Banker

SEPTEMBER 20, 2023

Federal Reserve Chair Jerome Powell said today's high mortgage rates are dissuading some would-be sellers from putting their homes on the market, further limiting lending opportunities in an environment already constrained by low inventory

Marketing 41

Marketing Lending Policies Compliance 41

CFPB Monitor

FEBRUARY 28, 2022

While the outline addresses an upcoming joint rulemaking to implement quality control requirements for AVMs, the CFPB specifically focuses on the potential for AVMs to pose fair lending risks to homebuyers and homeowners. Systematically low valuations driven by biased appraisers may exacerbate existing disparities in the housing market.”

Lending 78

Lending Policies System Compliance 78

Independent Banker

NOVEMBER 30, 2022

Stacy Watkins (left), president and CEO, and Hilary Nelson (right), senior vice president and director of operations and compliance, at the Las Vegas Strip. Professional players’ finances can be unpredictable and can bring increased regulatory scrutiny, making this a market many banks won’t touch. Photo by Sammy Tillery. Assets: $237.6

Las Vegas 129

Las Vegas Community Bank Community Wisconsin 129

FICO

MARCH 17, 2022

Mibanco, the largest microfinance bank in both Peru and Latin America, has used FICO Platform’s Decisions Capability to boost its lending capacity and respond quickly to changing market conditions during the pandemic. This meant when any lending changes were needed, software development within the core was required. “It

Policies 52

Policies Lending Case Study Guidelines 52

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