CFPB Monitor

MAY 18, 2023

The Consumer Financial Protection Bureau (CFPB) published a Small Entity Compliance Guide (“Guide”) covering the amendments to the Equal Credit Opportunity Act (ECOA) and Regulation B, which implement requirements of Section 1071 of Dodd-Frank.

Compliance 78

Compliance Lending Regulation Data 78

PYMNTS

NOVEMBER 10, 2020

It’s here now and being used to make good banks better — whether to eliminate discrimination in lending decisions, add stability to existing screening systems or drive loan growth and profits. The rest will go toward developing partnerships with governments and regulators “to raise the bar” when it comes to modern, unbiased lending.

Lending 345

Lending Software Compliance System 345

Abrigo

JUNE 28, 2023

Share these reports on AML activities to inform directors Reporting to the board on AML and fraud compliance is an essential obligation. Why regular reports matter Board reporting on AML compliance activities BSA Officers have a lot of responsibilities. Reporting should represent the risk-based approach to AML/CFT compliance.

Compliance 195

Compliance Fraud Report Trends 195

Abrigo

DECEMBER 5, 2023

AML Compliance Ten qualities of a successful BSA officer Hiring a Bank Secrecy Act (BSA) Officer for a financial institution involves looking for a unique experience level and skillset that ensures compliance with the BSA and related regulations.

Training 222

Training Compliance Regulation Software 222

Banking Exchange

JANUARY 23, 2023

In separate initiatives, the ABA and CFPB are seeking to add to consumer protection measures related to mortgage lending Mortgage Credit Feature Mortgage Mortgage Compliance Mortgage/CRE Feature3 Compliance/Regulatory Duties

Regulation 148

Regulation Compliance Lending 148

PYMNTS

JANUARY 18, 2019

The Consumer Financial Protection Bureau (CFPB) has asked the United States Congress for the authority to supervise compliance of the Military Lending Act (MLA), the organization announced on Thursday (Jan. The Bureau is committed to the financial well-being of America’s service members.

Compliance 122

Compliance Lending United States Regulation 122

Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Early communication with your regulator is key to understanding the struggles and successes of managing a BSA/AML program during a global pandemic. 5 Things Regulators Will Look For In Your Next Exam. SBA Lending.

Regulation 195

Regulation Fraud Compliance Lending 195

Abrigo

FEBRUARY 23, 2022

Loan Decisioning Allows Small Business Lending to Grow Community financial institutions can leverage automated loan underwriting to increase small business lending and achieve consistency. . Takeaway 2 Loan decisioning allows institutions to efficiently allocate credit analysts’ time for profitable small business lending.

Lending 195

Lending Community Bank Community Analysis 195

Banking Exchange

NOVEMBER 16, 2022

Fair lending compliance is a critical risk area for banks today, with scrutiny from government regulators only intensifying Compliance Feature Human Resources Technology Feature3 Core Systems Compliance Management Compliance/Regulatory Mortgage Credit Mortgage Mortgage Compliance Mortgage/CRE.

Compliance 78

Compliance Resources Lending Regulation 78

Perficient

JULY 12, 2023

Perficient provides risk management to more than 500 financial services organizations, many of whom have multiple bank regulators. Often an organization will have a state-charted non-member bank, which has the FDIC as its primary federal regulator.

Management 221

Management Risk Management Regulation Compliance 221

Perficient

FEBRUARY 29, 2024

Banking institutions are responding by integrating advanced technologies, particularly artificial intelligence and data analytics, into their lending operations to enhance efficiency and adaptability. Facilitation of embedded lending while ensuring compliance: Embedded finance initiatives must adhere to regulatory requirements.

Trends 221

Trends Industry Analytics Compliance 221

PYMNTS

SEPTEMBER 25, 2019

Regulators the world over are beginning to take a closer look at the alternative and marketplace lending business model. Also, in China, analysts at Yingcan Group pointed to the government’s P2P and marketplace lending crackdown as being likely to shrink the industry by as much as 70 percent this year. In the U.S.,

Compliance 117

Compliance Risk Management Lending Regulation 117

CFPB Monitor

MAY 16, 2022

The CFPB recently issued its annual fair lending report covering its fair lending activity in 2021. . Small business lending—assessing whether there are disparities in application, underwriting, and pricing processes, redlining, and whether there are weaknesses in fair lending-related compliance.

Lending 148

Lending Report Memphis Tennessee 148

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 in banking and finance. What is regtech?

Technology 195

Technology Fraud Compliance Regulation 195

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

Abrigo

MAY 30, 2023

But compliance deadlines are tiered. Final rule Effective dates & compliance dates for rule 1071 As they do with any new requirement, financial institutions want to know when the CFPB 1071 rule is effective and when they must begin collecting and reporting data on their small business lending activities.

Compliance 195

Compliance Lending Data Regulation 195

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 222

Training Compliance Fraud Policies 222

Abrigo

FEBRUARY 14, 2023

Takeaway 2 The rule is aimed at tracking small business credits to enforce fair lending laws and ID and support women- and minority-owned small businesses. The regulation, expected to be finalized in weeks, outranked BSA/AML rules, beneficial ownership requirements, and current expected credit loss (CECL) obligations.

Data 195

Data Lending Compliance Resources 195

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 195

Training Compliance Fraud Policies 195

PYMNTS

NOVEMBER 6, 2020

Davies , head of lending at Figure, will spearhead the firm’s initiatives to get a bank charter from the OCC and he will become the Figure Bank chief executive officer, according to Cagney. Financial services firm Figure Technologies, Inc. 6) announcement.

National 163

National blockchain Lending Regulation 163

Abrigo

MAY 19, 2023

They should be knowledgeable of both sound lending practices and their own institution’s specific lending guidelines. In addition, they should be familiar with pertinent laws and regulations affecting credit and lending activities.

Training 195

Training Lending Risk Management Guidelines 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

Independent Banker

SEPTEMBER 25, 2014

This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. The better prepared, the less likely they are to run afoul of the continually shifting regulations. Here are several timely suggestions to consider based on recent regulatory trends they see.

Compliance 101

Compliance Regulation Community Bank Community 101

PYMNTS

MARCH 27, 2019

While regulators had transparency and financial security in mind when introducing more stringent requirements for banks following the global financial crisis, financial institutions faced a sudden surge in the burden compliance. The Key To Compliance Is Data.

Compliance 116

Compliance Data Regulation Analytics 116

PYMNTS

OCTOBER 12, 2020

regulators cracked down on the firm Oct. regulators not coming as a surprise. Aave recently announced its governance model to help the community access more participation, with old Aave token LEND now able to be swapped for the new Aave token at a ratio of 100 LEND to 1 Aave.

Bitcoin 261

Bitcoin Compliance Lending cryptocurrency 261

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. Some regulators aimed to mitigate that impact.

Lending 100

Lending Capital Regulation Survey 100

Abrigo

JANUARY 30, 2024

REGISTER Takeaway 1 Banking and compliance professionals rely on ThinkBIG to elevate their understanding of industry shifts and regulatory pressures. Banking and compliance professionals rely on the annual conference to elevate their understanding of industry shifts and regulatory pressures that hammer them daily.

Conference 195

Conference Arizona Phoenix Fraud 195

Bank Innovation

JULY 12, 2018

Online lenders may own more than half of the personal lending market, but they face serious headwinds. For one thing, rising interest rates will increase their cost of funds, and perhaps make their offerings less attractive, and for another, regulations may arrive that make operating their businesses more expensive.

New York 225

New York Regulation Online Lending 225

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

American Banker

JULY 2, 2023

Higher capital requirements tend to drive certain lending activities away from banking and toward so-called shadow banks. How regulators shore up banks without driving their customers away is the source of a spirited philosophical debate in Washington.

Capital 87

Capital Regulation Washington Lending 87

Bank Innovation

MARCH 7, 2016

Today, the Consumer Financial Protection Bureau began accepting complaints regarding online marketplace lending. While no official regulations have yet been placed on online marketplace lending or investors, many industry watchers suspect this move is a prelude to the introduction of formal regulation in the online marketplace lending sector.

Lending 150

Lending Online Regulation Industry 150

Bank Innovation

JANUARY 17, 2019

regulators have taken a greater interest over the last year in technology startups promising to reinvent finance. Several financial-technology companies are looking to staff up in regulatory compliance, according to job posting data reviewed […].

Regulation 150

Regulation Fintech Compliance Financial Technology 150

BankInovation

FEBRUARY 9, 2023

Lending is a difficult business – it’s hard enough dealing with ordinary risks in consumer lending. But lenders also deal with overwhelming, ever-changing regulations. Fortunately, there are ways to mitigate the risk. One of the best is ensuring that data used in evaluating loans is complete and accurate.

Compliance 52

Compliance Lending Regulation Data 52

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. L. §§ 296-a(1)(b) and (3). According to Rhinebeck’s President and CEO Michael J.

New York 78

New York Lending Community Bank Community 78

Bank Innovation

JULY 11, 2016

The following is an email exchange with Glenn Goldman, a pioneer in alternative lending and CEO of Credibly, an online lender to small businesses. More regulation is likely coming to SMB online lending. How do you respond to this? Unfortunately, there are bad actors in every industry, and I think there’s Read More.

Lending 150

Lending Online Regulation Industry 150

American Banker

MARCH 22, 2024

The FDIC Office of Inspector General attributed the downfall of Citizens Bank in November 2023 to lax lending practices and risk mismanagement by the Lange family, causing a $14.8 million loss to the regulator's Deposit Insurance Fund. The OIG saw no grounds for a more extensive review.

FDIC 41

FDIC Risk Management Iowa Lending 41

BankInovation

JULY 6, 2021

There is no “one-size-fits-all” approach to making AI-driven decisioning by financial institutions explainable and fair, but lenders want regulators to clarify how to measure the technology’s disparate impact and explainability.

Regulation 98

Regulation Lending How To Compliance 98