CFPB Monitor

MAY 18, 2022

After moving alone in 2020 to reform its Community Reinvestment Act (CRA) regulation, the Office of the Comptroller of the Currency (OCC) has joined the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve Board in issuing a joint notice of proposed rulemaking setting forth proposed amendments to their regulations implementing the CRA.

FDIC 78

FDIC Regulation Community Lending 78

PYMNTS

MARCH 5, 2019

Heightening efforts among policymakers across the globe to expand customer protections in the financial services (FinServ) space have largely left small business (SMB) banking and lending untouched. Markets Bypass SMB Borrower Protections. ” Earlier this year, the U.K. ” Earlier this year, the U.K.

California 153

California Fintech Lending Regulation 153

PYMNTS

OCTOBER 1, 2018

A top infrastructure lender in India is now being questioned by regulators over its $12.6 Reports in Bloomberg said Infrastructure Leasing & Financial Services (IL&FS) Group, a top financier of infrastructure projects, now faces a special audit from the Reserve Bank of India (RBI) after an August default shook the markets.

Marketing 108

Marketing Regulation Leadership Groups 108

PYMNTS

OCTOBER 16, 2017

Google and Amazon are ready to shake up the small business lending world and place competitive pressure on traditional banks, according to Karen Mills, advisor for small businesses to former President Barack Obama. Amazon has already made inroads in the small business lending space over the years. When I look at it from a U.S.

Google 100

Google Lending Conference Industry 100

BankBazaar

AUGUST 12, 2021

The lending industry has evolved with time, and now thanks to BNPL plans, the world has more options to pay for its needs than ever before. These new-age lenders challenge the traditional lending industry by offering no-cost EMIs in a more consumer-friendly model. This has created a gap in the market. Recently, Square Inc.,

Lending 78

Lending Cards Online Industry 78

Jeff For Banks

AUGUST 2, 2014

My firm will occasionally provide feedback on correspondence to our clients'' regulators. I thought about what we should have said to the regulator, versus the sweet words I was encouraging our client to use. Below is a sample letter to your regulator, saying it like you mean it. Today we did just that. Truth is, I haven''t.

Regulation 92

Regulation DC FDIC Analytics 92

PYMNTS

AUGUST 14, 2019

According to Australia’s Reserve Bank Assistant Governor Michele Bullock, SMBs are facing a tighter market in their search for working capital, and it’s wedging these businesses into consumer credit products. There is a “blurring in the line between lending to small business and personal credit,” she added.

Lending 122

Lending Cards FDIC Capital 122

PYMNTS

SEPTEMBER 25, 2018

When it comes to FinTech firms and lending, might it be that what we don’t know could hurt us? Viewed from high levels, the activity itself (lending, that is), has taken off in some of the countries one might expect, marked by relatively higher incomes, and where financial regulation might be relatively less stringent.

Fintech 172

Fintech Lending United States Regulation 172

PYMNTS

JANUARY 31, 2019

. “After a decade of community bank consolidation, without a single new bank charter, we see a generational opportunity to bring true community banking — and unparalleled customer service — back to the Greater Washington region, arguably the best banking market in the nation,” stated Vision Bank, according to reports.

Community Bank 122

Community Bank Community FDIC Marketing 122

CFPB Monitor

MARCH 30, 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes the following key provisions that affect financial institutions and regulation of financial institutions: Section 4003 – Emergency Relief and Taxpayer Provisions. Section 4011 – Temporary Lending Limit Waiver.

Regulation 122

Regulation United States Community Bank National 122

CFPB Monitor

MARCH 25, 2021

The new law became effective immediately upon signing notwithstanding the authority it gives the Illinois Secretary of Financial and Professional Regulation to adopt rules “consistent with [the] Act.”. The Act also contains a broad definition of the term “lender” and applies to loans made using a bank partnership model.

Illinois 148

Illinois Lending Retail Analysis 148

CFPB Monitor

APRIL 5, 2017

On March 30, Director Cordray gave his annual speech to the United States Chamber of Commerce’s 11th Annual Capital Markets Summit. His prepared remarks focused on the CFPB’s role in adopting regulations. He trumpeted the CFPB’s promulgation of detailed regulations for the mortgage industry.

Regulation 68

Regulation United States Lending Capital 68

CFPB Monitor

APRIL 5, 2017

On March 30, Director Cordray gave his annual speech to the United States Chamber of Commerce’s 11th Annual Capital Markets Summit. His prepared remarks focused on the CFPB’s role in adopting regulations. He trumpeted the CFPB’s promulgation of detailed regulations for the mortgage industry.

Regulation 60

Regulation United States Lending Capital 60

PYMNTS

SEPTEMBER 17, 2019

While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of consumer lending. By definition, a pawnbroker offers loans on items that are not accepted as collateral by traditional banks or lenders.

Ohio 151

Ohio Lending Iowa South Dakota 151

PYMNTS

DECEMBER 19, 2017

Capital Float targets small- and medium-sized businesses (SMBs) with its lending service, though it’s unclear how Amazon’s investment in the company might lead to an integration of small business lending or consumer financing services from within the Amazon platform. When I look at it from a U.S. When I look at it from a U.S.

Lending 122

Lending Capital Google Conference 122

PYMNTS

FEBRUARY 12, 2019

26 percent: The number of regulatory bodies that the Financial Stability Board estimates have clear definitions of FinTech lending in place. trillion: The value of the leveraged loan market, as estimated by the FSB. . $2,225: The amount bridge millennials spend, on average, on annual retail purchases.

Millennials 154

Millennials Payments Retail Lending 154

PYMNTS

APRIL 26, 2018

Joseph Otting, Comptroller of the Currency, says that rules on short-term, small-dollar lending should be relaxed so U.S. But research shows there is definitely a need for the financing. As a result, online lenders have flooded the market, some of them focusing on consumers with low credit scores or no scores at all.

Regulation 101

Regulation Conference Lending Survey 101

PYMNTS

NOVEMBER 20, 2017

According to the lending platform, this is also its first credit facility rated by DBRS, Inc. The funding will allow Kabbage to focus on accelerating expansion and fueling growth by being able to provide lines of credit with longer terms to more small businesses.

Massachusetts 100

Massachusetts Lending Analysis Operations 100

PYMNTS

OCTOBER 9, 2018

63 percent of small businesses applied for a working capital loan last year, data from S&P Global Market Intelligence recently found. However, Dave Gilbert, founder and chief executive officer of SMB alternative lending firm National Funding , said he’s seen a trend of growing traction within the small business community.

National 167

National Regulation Capital Industry 167

FICO

SEPTEMBER 23, 2022

Retain and Grow Deposit Market Share as Interest Rates Rise. This will provide some relief to savers, who are long-accustomed to negative real interest rates (and negative nominal rates in many European markets). . The question of “Where do I want to be in the market rankings?” FICO Admin. Tue, 07/02/2019 - 02:45.

Marketing 52

Marketing Analytics Strategy Analysis 52

CFPB Monitor

OCTOBER 4, 2022

The CFPB indicated that simultaneously with issuing the Special Edition, but after apparently having already conducted exams based on its interpretation of Dodd Frank , it had updated its Education Loan Examination Procedures regarding the definition of “private education loans” for purposes of its authority to supervise nonbanks.

Policies 146

Policies Compliance Payments Training 146

CFPB Monitor

FEBRUARY 5, 2021

The invitation then identified specific areas and provided examples of the types of issues that comments might address: Definitions – Whether definitions in addition to those in the CCFPL are needed; whether and how any CCFPL definitions are unclear; and whether any definition results in ambiguity as to the CCFPL’s coverage.

California 78

California Los Angeles Regulation Resources 78

Gonzobanker

JULY 7, 2014

The commercial lending environment at most banks has evolved to a point somewhere between the Dark Ages and Henry Ford’s Model T. Hey bankers – isn’t commercial lending your greatest revenue producing engine? Regulator Exceptions Are regulators saying you have a problem? But all is not lost. VENDOR CONSIDERATIONS.

Lending 85

Lending System Policies Tools 85

BankUnderground

AUGUST 31, 2022

While regulators cannot be sure what risks the next decade will feature, they can be sure that the set of issues will continuously evolve. ‘The place beyond the banks’: market-based finance and non-bank financial institutions. Alina Barnett, Sinem Hacioglu Hoke and Simon Lloyd.

Policies 88

Policies Marketing System Regulation 88

Abrigo

FEBRUARY 24, 2022

Takeaway 1 Interest rate risk for financial institutions is the risk that earnings and market value may decline as market interest rates change. . Defining interest rate risk A loose definition of interest rate risk is the risk that an institution’s earnings and market value may decline as market interest rates change. .

Management 195

Management Analysis Strategy Policies 195

Independent Banker

NOVEMBER 30, 2021

Between the [Trump] administration and Congress and the regulators, they did a terrific job of allowing banks to work with their borrowers,” says Jeff W. Another option would be to do a separate loan to amortize those deferred payments, which again would be dependent on regulators, he adds. Dick, chairman and CEO of $1.7

Community Bank 209

Community Bank Community Texas Dallas 209

PYMNTS

APRIL 12, 2017

Regulation A+ has made a mostly quiet splash on the market. Years in the making, the regulation was born from the JOBS Act, which was signed into law in 2012, with Title IV of the act — also known as Regulation A+ — enabling average joes to invest in companies seeking capital.

Regulation 102

Regulation Lending social media Operations 102

BankBazaar

APRIL 19, 2023

Amid the financial uncertainties, Silicon Valley Bank (SVB) collapsed in March this year, sending shockwaves across the global financial markets. What have the regulators done? After the collapse, the governments and regulators across the world are checking for SVB exposure in their corporate and banking sectors.

US 78

US United States FDIC Regulation 78

Gonzobanker

MAY 4, 2022

Regulations – The practical application of regulations to specific situations at the institution requires deep “inside” knowledge. An institution’s required credit expertise will depend on its business/niches – for example, knowledge of national environmental lending will be unique from that of import/export letter of credit.

Training 144

Training Survey System Data 144

CFPB Monitor

AUGUST 7, 2019

In its press release, the DFS claims that the investigation will look into “allegations of unlawful online lending” and “will help determine whether these payroll advance practices are usurious and harming consumers.” Illinois Department of Financial Professional Regulation. Maryland Office of the Commissioner for Financial Regulation.

Industry 92

Industry Puerto Rico South Dakota North Dakota 92

PYMNTS

SEPTEMBER 28, 2020

The Predatory Lending Trap. This can come with a whole host of other problems, although some regulators have taken steps to broaden the scope of borrower protections to include SMBs. When an organization is bearing an ever-increasing burden of outstanding accounts receivables, there are multiple sources of capital to which it can turn.

social media 215

social media Capital Fintech Operations 215

CFPB Monitor

JULY 29, 2019

The general QM loan under the rule is based on a strict debt-to-income (DTI) ratio limit of 43%, and there is guidance in Appendix Q to Regulation Z regarding the calculation and verification of debt and income that is based on standards for Federal Housing Administration (FHA) loans. CFPB Off-Base Prediction of Market Behavior.

Compliance 60

Compliance Marketing Regulation Meeting 60

PYMNTS

JUNE 16, 2016

Instead, Nokia has been busy snatching up startups, like the French firm Withings, to help it pivot toward a critical new market: digital health. We’ve been developing [health] technology and solutions inside Nokia, experimenting both on the regulated and unregulated side of health, to see what we can bring to the market.

Mobile 100

Mobile Lending Technology Regulation 100

PYMNTS

NOVEMBER 12, 2019

There was so much excitement, Saraf noted, that valuations got out of hand, and when early investors came looking for a return on their investment, the market collapsed. Regulations Matter. The problem is that regulators in the U.S. But excitement ruled the day, and they did. And that, he said, is only a first step.

Regulation 119

Regulation Innovation Lending Technology 119

BankUnderground

AUGUST 9, 2022

While there is no set definition of the metaverse, it can be thought of as an immersive next generation of the internet, where people can interact to socialise, learn, play and work in a persistent computer-generated environment. What is the metaverse?

System 132

System blockchain cryptocurrency Lending 132

PYMNTS

MAY 24, 2016

These days, payday lending is not a subject that lends itself to much in the way of rational discourse. Opponents of the practice note that, in its most vicious form, payday lending is an expensive predatory scourge on the class of borrowers it attracts, drawing them into a confusing and protracted cycle of debt.

Lending 103

Lending FDIC Maine Regulation 103

CFPB Monitor

AUGUST 6, 2018

It also provides guidance as to redlining risk management techniques such as (i) the regular review of assessment areas and credit market areas; (ii) evaluation of fair lending risk arising from the opening, acquiring or closing of branches and offices; (iii) evaluation through marketing and outreach programs; and (iv) complaints monitoring.

Compliance 68

Compliance Risk Management Lending Training 68