PYMNTS

DECEMBER 23, 2020

million to the Consumer Financial Protection Bureau ( CFPB ) for violating the Fair Credit Reporting Act (FCRA), the CFPB said in a press release. According to the release, Santander allegedly knew that it provided incorrect consumer data to the three major credit reporting agencies (CRAs). Santander Consumer USA was ordered to pay $4.7

Report 356

Report Compliance Lending Online 356

Abrigo

JUNE 5, 2023

Banking reports to inform risk management and strategy These reports on capital, growth, and liquidity help financial institutions spot warning signs. Takeaway 2 Reports that assess capital, growth, and liquidity provide banking professionals data to drive decisions.

Report 195

Report Risk Management Capital Data 195

Perficient

JULY 27, 2023

This information can identify areas of need and develop targeted lending programs that address those needs. Additionally, financial institutions can integrate data from their internal systems, such as loan origination and servicing systems, to better understand their lending activities.

Data 221

Data Compliance Community Lending 221

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

PYMNTS

AUGUST 21, 2020

More than $50 billion of cryptocurrency was transferred from virtual wallets in China to other parts of the world last year, a potential violation of the nation’s strict limits on how much money can be sent abroad, according to a new report. In contrast, the report said $38 billion in cryptocurrency left Western Europe.

cryptocurrency 349

cryptocurrency Report Regional Capital 349

PYMNTS

APRIL 8, 2020

And even as financial institutions began to smooth out the process, the initiative hit another snag Monday when reports emerged that the SBA’s computer systems had crashed. Marketplace lending company Funding Circle announced the debut of its pre-application service for small businesses interested in obtaining an SBA loan under the PPP.

Lending 245

Lending Fintech America Technology 245

PYMNTS

OCTOBER 9, 2020

The pandemic has cast a chill across the loan process, but Matt Harris , co-founder and CEO of Bloom Credit , told PYMNTS that a lack of credit data and creative alternative solutions might be causing even more lending problems. We've actually done a lot of the work in terms of getting all of the compliance legwork in place,” Harris said.

Lending 282

Lending Data Compliance Tools 282

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. Abrigo will add functionality to our commercial loan origination system to support upcoming compliance requirements once the final decisions have been made on the CFPB side.

Data 195

Data Lending Compliance Resources 195

Bank Innovation

NOVEMBER 21, 2017

The Federal Reserve Bank of Cleveland has taken a report on P2P lending offline due to questions regarding the report’s underlying data.

Cleveland 170

Cleveland Lending Report Data 170

Abrigo

MAY 30, 2023

Timelines for small business loan data collection and reporting Deadlines for complying with the new CFPB section 1071 rule requirements for financial institutions to collect data on small business loan activities. But compliance deadlines are tiered. 1, 2024, and report for the first time by June 1, 2025.

Compliance 195

Compliance Lending Data Regulation 195

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., In June, the U.K.’s

Compliance 117

Compliance Risk Management Lending Regulation 117

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

MARCH 26, 2019

The industry indeed proved to be lucrative for FinTechs, with alternative lending often landing at the top of venture capital investment reports with giants like Kabbage , OnDeck and LendingClub securing an early lead in the industry. Remarks made in 2017 from BlueVine CEO Eyal Lifshitz hinted at this emerging trend.

Lending 190

Lending Capital Fintech Security 190

CFPB Monitor

FEBRUARY 23, 2021

The New York Department of Financial Services (DFS) recently announced that it has entered into an agreement with Hunt Mortgage , a licensed mortgage banker, to address the DFS’s findings that there was a “demonstrable lack of lending to minorities and in majority-minority neighborhoods in Western and Central New York by Hunt Mortgage.”

New York 78

New York Lending Report Policies 78

Abrigo

MAY 19, 2023

Takeaway 2 Examining the following objectives and evaluating your loan review system based on them can ensure regulatory compliance. Systems may include components that are independent of the lending function or may place some reliance on loan officers.

System 195

System Regulation How To Lending 195

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

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 221

Training Compliance Fraud Policies 221

American Banker

AUGUST 8, 2023

Many small-business lenders have less than 18 months to figure out how to gather and report on an extensive array of data.

Report 69

Report Compliance How To Data 69

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

Abrigo

JULY 20, 2017

Allaboutrisk.com (AAR) recognizes Sageworks as a credit risk vendor in its 2017 Risk Software Report. AAR is the global leader for online news, product and innovation information on risk, compliance, and trading. The products featured in the report include: · Credit Analysis. ALLL – Allowance for loan and lease losses.

Software 150

Software Report United States Compliance 150

CFPB Monitor

JULY 8, 2019

The CFPB’s annual fair lending report covering its 2018 activities was published in today’s Federal Register. In conjunction with the symposium, the Bureau released its third “Data Point” report focused on “credit invisibles.”

Lending 60

Lending Report Policies Compliance 60

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

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

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

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

Banking Exchange

OCTOBER 18, 2021

Joint letter is part of regulatory body’s push to reject proposal Compliance People Fair Lending Compliance Management Compliance/Regulatory Feature3 Feature Duties.

Taxes 78

Taxes Groups Compliance Report 78

CFPB Monitor

NOVEMBER 4, 2021

1071 of the Dodd-Frank Act which would impose significant new data collection and reporting requirements on lenders in connection with credit applications made by small businesses, including women- or minority-owned small businesses.

Lending 78

Lending Data Report Risk Management 78

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

CFPB Monitor

AUGUST 14, 2018

On August 10, the New York Times reported that Mick Mulvaney, the CFPB Acting Director, intends to dispense with routine supervisory examinations of creditors for violations of the Military Lending Act (MLA). We agree with Acting Director Mulvaney that the CFPB lacks statutory authority to examine creditors for MLA compliance.

Compliance 101

Compliance Utah Lending New York 101

Abrigo

MAY 19, 2023

The policy generally addresses the following items: Qualifications of loan review personnel Independence of loan review personnel Frequency of reviews Scope of reviews Depth of reviews Review of findings and follow-up Workpaper and report distribution.

Training 195

Training Lending Risk Management Guidelines 195

PYMNTS

OCTOBER 12, 2020

Aave , an Ethereum-based loan protocol, has raised $25 million in a funding round, according to a report from Crypto News. 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 Regulation 261

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.

Lending 60

Lending Report Compliance Meeting 60

PYMNTS

SEPTEMBER 4, 2019

The Hong Kong Monetary Authority has, as finews.asia reported this past week, amended its credit risk management guidelines in a way that seeks to boost the embrace of analytics when lending to smaller firms. The solution ensures compliance with the second payment services directive (PSD2).

Lending 134

Lending Fintech Guidelines Meeting 134

PYMNTS

MAY 17, 2018

Regional lender in Japan, Suruga Bank , apologized this week and admitted that staff may have knowingly processed loan documents that were falsified for a struggling property investment scheme, adding to the list of corporate scandals plaguing the country, reports in Bloomberg said. In effect, the perfect storm for corporate malfeasance.”.

Compliance 108

Compliance Lending National Fraud 108

Abrigo

SEPTEMBER 29, 2022

Essential technology for modern lending and credit departments. Instead, they are a specific program for lending institutions and their needs. An essential function of this software is that it helps in identifying potential risks and threats related to construction lending. It improves business relationships and satisfaction.

Software 195

Software Lending Management Strategy 195

PYMNTS

MAY 9, 2016

Renaud Laplanche , the CEO of Lending Club, has resigned following a board investigation regarding allegations of improper practices surrounding a loan sale with an investor. Furthermore, there are reports that the date on the loans was tampered with to ensure they were within compliance requirements.

Lending 100

Lending Conference Compliance Meeting 100