PYMNTS

JULY 14, 2020

In addition to its core POS lending business, Affirm branched out into financial services in June, debuting a high-yield savings account called Affirm Savings. Silicon Valley FinTech Affirm is also a regular in the top 5 this year. The account comes with 1.30 The account comes with 1.30 stores for Google Pay and Apple Pay users.

Lending 130

Lending FDIC Minneapolis Utah 130

Abrigo

MARCH 2, 2023

Takeaway 2 According to Forrester data, firms pursuing technology-driven innovation grow three to four times faster than industry averages. Community banks and the entire banking industry face downside risks from inflation, rising market interest rates, and continued geopolitical uncertainty, the FDIC said recently in its quarterly report.

Technology 195

Technology Lending Community Software 195

Gonzobanker

JUNE 14, 2023

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act.

Compliance 109

Compliance FDIC Strategy Fintech 109

Abrigo

AUGUST 6, 2021

according to FFIEC and FDIC data. Community banks are critical to ag lending and small business lending. Technology can help streamline and automate many manual lending processes, reduce compliance costs, and enhance risk management. In the recent publication, Community Banks’ Ongoing Role in the U.S.

Community Bank 195

Community Bank Community Kansas City Lending 195

Abrigo

JULY 20, 2021

From leveraging PPP technology to building relationships, reasons for boosting SBA lending are numerous. . Takeaway 2 Far fewer financial institutions regularly participate in SBA (7a) lending than the more than 5,000 that joined the PPP. . Why SBA Lending? Want other articles like this on SBA loan origination in your inbox?

Lending 195

Lending FDIC Capital Risk Management 195

Abrigo

NOVEMBER 11, 2019

Bankers since the financial crisis have become accustomed to seeing language like the following: “The FDIC is re-emphasizing the importance of prudent interest rate risk oversight and risk management processes to ensure FDIC-supervised institutions are prepared for a period of rising interest rates.” Learn More.

Management 150

Management FDIC Community Risk Management 150

CFPB Monitor

APRIL 1, 2021

In what could be an important step towards needed regulatory updating to accommodate the growing use of artificial intelligence (AI) by financial institutions, the CFPB, FDIC, OCC, Federal Reserve Board, and NCUA issued a request for information (RFI) regarding financial institutions’ use of AI, including machine learning (ML). Fair lending.

Risk Management 78

Risk Management Training Lending FDIC 78

Abrigo

MAY 5, 2022

Thankfully for bank and credit union executives, lenders, risk managers, and Bank Secrecy Act (BSA) Officers, banking podcasts and podcasts for credit unions are plentiful, and options are growing. Using Data to Acquire, Engage, and Retain Banking Customers,” and “Customer Identity: Balancing Security and Seamless Banking Experiences.”

Community 195

Community Lending Maine Resources 195

Abrigo

JANUARY 29, 2020

Key Takeaways The FDIC issued an advisory to FIs encouraging safe and sound lending practices in today's ag lending environment. FDIC) issued an advisory to financial institutions encouraging exceptionally safe and sound lending practices in agricultural lending. Learn More.

Lending 195

Lending How To FDIC Survey 195

American Banker

AUGUST 8, 2016

Under pressure from regulators to beef up risk management in commercial real estate lending, banks are using new software tools to improve analysis.

Big Data 28

Big Data Risk Management Data Analysis 28

Independent Banker

NOVEMBER 25, 2015

It’s a worrisome and complicated dynamic that’s putting competitive pressure on community banks, but it’s also creating opportunities through data analytics, partnerships and the ability to innovate to meet evolving customer demands. “We This puts consumer data, and potentially credit ratings, reputations and bank accounts, in jeopardy.

Community Bank 70

Community Bank Community Analytics Lending 70

Abrigo

SEPTEMBER 15, 2022

Bank monitoring in construction lending. More construction loan monitoring ultimately decreases loan default, according to a new FDIC Center for Financial Research working paper. While it doesn't necessarily reflect the views of the FDIC, the paper includes preliminary findings from research by FDIC staff and an FDIC Visiting Scholar.

Study 195

Study FDIC Lending Risk Management 195

CFPB Monitor

NOVEMBER 22, 2022

While the report does not address “true lender” challenges in bank/fintech lending relationships, it does discuss the risk of “so-called ‘rent-a-charter’ schemes that market themselves as innovative fintech lending platforms, but operate with essentially the same harmful business model as a traditional payday lender.”

Fintech 78

Fintech Report Data Lending 78

Abrigo

SEPTEMBER 14, 2022

What banks need to know as the CFPB gets closer to its final rule Banks, credit unions, and other creditors may be required to collect more data for each application under a new rule. You might also like this webinar: "Fortify Your Loan Policy to Effectively Manage Credit Risk." Prepare for change to data collection practices.

Lending 195

Lending Data Regulation Community 195

Abrigo

MARCH 17, 2022

Agencies note that existing guidance, including that covering interest rate risk management, commercial real estate concentrations, and funding and liquidity management (among others), continues to apply. Prudent stress testing as a risk management tool helps the enterprise see where the potential pitfalls are in their plans.

Capital 195

Capital Regulation Risk Management Community 195

Abrigo

NOVEMBER 29, 2021

Financial institutions generate most of their income by lending and investment activities. Other: Miscellaneous income such as rent, data processing services, sale of miscellaneous assets. Noninterest income drove 20% of community banks' net operating revenue in 2019, down from 22% in 2012, according to a recent FDIC study.

Community Bank 195

Community Bank Community FDIC Trends 195

Independent Banker

JUNE 30, 2022

But as they always do, they came through for individuals and businesses in their communities with a combination of personalized service and prudent risk management practices. Here, we highlight some of last year’s most successful loan producers in the areas of agriculture, commercial and consumer/mortgage lending. By Ed Avis.

Community Bank 172

Community Bank Community National Philadelphia 172

CFPB Monitor

AUGUST 8, 2019

A new CFPB blog post titled “ An update on credit access and the Bureau’s first No-Action Letter ” provides a boost to lenders using alternative data and machine learning in their underwriting models. The CFPB, in its July 2019 fair lending report, discussed supervisory reviews of alternative credit scoring models.

Data 60

Data Lending Compliance Policies 60