CFPB Monitor

NOVEMBER 11, 2021

This suggests that the agencies might provide some leniency in the event of non-compliance. They further state that “[a]s part of their considerations, the agencies will factor in the time it takes to make operational adjustments in connection with the joint statement.”

Compliance 78

Compliance Regulation FDIC Meeting 78

Independent Banker

OCTOBER 1, 2022

We explore how it can protect banks against financial losses and provide resources in the event of a cyber attack. Cyber insurance not only provides financial reimbursement for losses; it also equips the insured with access to a list of preapproved incident response experts that are required to help the bank manage a cyber event.

Montana 152

Montana Policies Resources FDIC 152

CFPB Monitor

AUGUST 20, 2020

federal and state financial institution regulators have taken meaningful, proactive steps to acknowledge financial inequality issues, reach out to traditionally underserved populations to expand access to credit, and further protect consumers from discrimination. This blog post contains a summary of those efforts.

Regulation 78

Regulation FDIC Community Lending 78

PYMNTS

SEPTEMBER 30, 2020

It would instead offer payment companies a national servicing platform to replace the regime of state regulations such firms would be subject to under existing laws. Commercial companies accessing a payments charter would avoid oversight and regulations that protect the financial system and consumers,” the bank industry leaders wrote.

Regulation 349

Regulation National System Industry 349

CFPB Monitor

FEBRUARY 23, 2022

Yesterday, eight federal agencies joined together to issue an “ Interagency Statement on Special Purpose Credit Programs Under the Equal Credit Opportunity Act and Regulation B ” (Interagency Statement). The agencies consist of the CFPB, FDIC, OCC, Federal Reserve Board, NCUA, HUD, DOJ, and FHFA.

Regulation 78

Regulation Lending FDIC Compliance 78

PYMNTS

MAY 22, 2018

A bill that would give regional banks a break on regulation was before the U.S. The bill also gives regulators more discretion in deciding when to require stress tests of capital adequacy for banks with between $100 billion and $250 billion in assets in the event of another crisis,” according to a summary of the bill in MarketWatch.

Regulation 100

Regulation Regional Community Community Bank 100

Abrigo

JANUARY 4, 2023

banking regulators recently warned financial institutions that dealing with cryptocurrency exposes them to an array of risks. The events of the past year have been marked by significant volatility and the exposure of vulnerabilities in the crypto-asset sector," read a joint statement from the Federal Reserve, FDIC, and the OCC.

social media 195

social media Fraud cryptocurrency Trends 195

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 93

Regulation DC FDIC Analytics 93

American Banker

AUGUST 29, 2023

has issued proposals that would make banks with $100 billion of assets or more hold more long-term debt as a cost buffer in the event of a collapse and meet new planning requirements in case they ever have to be resolved in an emergency. The Federal Deposit Insurance Corp.

FDIC 36

FDIC Meeting Compliance Regulation 36

CFPB Monitor

DECEMBER 22, 2020

By requiring notice of these computer security incidents, the proposed rule broadens the type of reportable events that banking organizations and their service providers are required to report to federal agencies.

Security 78

Security Report FDIC Regulation 78

Abrigo

OCTOBER 28, 2022

Takeaway 1 Signs point to increased loan modifications and loan workouts, and regulators have urged financial institutions to work prudently with borrowers. . Meanwhile, regulators are focusing fresh attention on prudent credit risk management of loans, especially CRE, and loan modifications in general. CRE loan accommodations.

Management 195

Management Risk Management Policies Lending 195

Gonzobanker

FEBRUARY 1, 2024

For the bankers we talked with, acknowledging challenges—think NIM, credit, regulation, election uncertainty, unemployment and CRE—while portraying resilience created quite a few compelling narratives throughout the event. And we salute the entire Bank Director team for yet another exceptional event. Five Hundred? (Oh

Conference 88

Conference FDIC Arizona Industry 88

BankBazaar

APRIL 19, 2023

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. While the government is trying its hard to pacify investors’ fears, regulators are trying to find new buyers to take over SVB’s domestic lending portfolio.

US 78

US United States FDIC Regulation 78

PYMNTS

APRIL 7, 2016

.” “As an industry, there’s not one specific issue we’re particularly worried about — the space is already heavily regulated, with borrower protections on one side and securities rules on the other,” said Sam Hodges, cofounder and U.S. Specific regulation [for the marketplace lenders] could be a healthy thing.”.

Lending 100

Lending San Francisco FDIC Regulation 100

CFPB Monitor

APRIL 19, 2021

Tomorrow, April 20, the House Financial Services Committee is scheduled to mark-up a series of bills that include a bill dealing with debt collection and two bills dealing with the diversity and inclusion practices of banks and other federally-regulated entities. Debt collection.

Regulation 78

Regulation Policies FDIC Lending 78

PYMNTS

NOVEMBER 12, 2020

Bank regulators and overseers have been tracking the problem since the outbreak’s onset. FDIC) currently considers 356 banks to be “concentrated” in commercial real estate based on the ratio of CRE loans they hold. In the event of another such crisis, most banks would be affected, and many might fail. …

New York City 227

New York City New York Missouri Philadelphia 227

Celent Banking

DECEMBER 13, 2016

In a nutshell, institutions are liable for risk events of their third and extended parties and ecosystems. The FDIC expresses best the sentiment of worldwide regulators: “A bank’s use of third parties does not relinquish responsibility… but holds it to the same extent as if the activity were handled within the institution."

Risk Management 100

Risk Management Management Exercises FDIC 100

Jeff For Banks

JUNE 4, 2018

"The FDIC recently has observed instances of liquidity stress at a small number of insured banks." So opened the Summer 2017 FDIC Supervisory Insights issue. Regulators and consultants promulgate this untruth. He was confident in his bank's liquidity position, but felt regulators could artificially create a liquidity problem.

FDIC 60

FDIC System Regulation Conference 60

American Banker

MAY 12, 2016

The event took place during the 2015 fiscal year, but was not separately disclosed to Congress until the agency's federally-mandated annual report on information security. Even then, the FDIC provided only vague details on what happened.

FDIC 28

FDIC Security Report Regulation 28

CFPB Monitor

DECEMBER 6, 2021

And, in any event, high fees alone are not unlawful. For a number of reasons and as detailed at greater length in a CBA white paper we helped author, we believe that formal rulemaking would serve as a far better approach than a return to “regulation by enforcement.”.

Regulation 78

Regulation Policies FDIC Leadership 78

Celent Banking

DECEMBER 12, 2016

In a nutshell, institutions are liable for risk events of their third and extended parties and ecosystems. The FDIC expresses best the sentiment of worldwide regulators: “A bank’s use of third parties does not relinquish responsibility… but holds it to the same extent as if the activity were handled within the institution.”

Risk Management 100

Risk Management Management Exercises FDIC 100

Jeff For Banks

JUNE 2, 2023

Second, this can be accomplished only if the industry does not have too much influence over its regulators and if the regulators have the ability to hire, train, and retain qualified staff. Third, the regulators need adequate financial resources. My lesson learned to the regulators, read your past lessons learned.

FDIC 78

FDIC Community Bank Regulation Lending 78

American Banker

OCTOBER 5, 2020

The industry is warning regulators putting the finishing touches on the Net Stable Funding Ratio that the measure could exacerbate volatile market events like the spring selloff of Treasury securities.

Regulation 67

Regulation Security Industry Marketing 67

CFPB Monitor

APRIL 15, 2016

The interest of federal regulators in marketplace lending continues to grow. In July 2015, the Treasury Department issued a request for information regarding online marketplace lending and, in February 2016, the FDIC published an article highlighting the risks for banks that partner with marketplace lenders.

Lending 60

Lending FDIC Washington Financial Technology 60

CFPB Monitor

NOVEMBER 6, 2019

I am co-chairing the event, as I have for the past 23 years. The morning session on the first day will feature a panel discussion titled “Federal Regulators Speak,” that will be divided into two segments and focus on federal regulatory, enforcement, and supervisory developments.

San Francisco 60

San Francisco FDIC Conference blockchain 60

PYMNTS

AUGUST 14, 2019

Small businesses have been facing tighter credit conditions over the past year or so from a level that was already tight,” she said at a Toowoomba Chamber of Commerce event held last week, reports said. To make matters even more confusing, the definition of a small business is often ambiguous both to regulators and to banks.

Lending 122

Lending Cards FDIC Capital 122

Abrigo

SEPTEMBER 5, 2023

For example, the lack of guarantee may not cause a charge-off, but it limits options in the event of a workout. As the FDIC said recently: Exceptions to policy should be few in number and properly justified, approved, and tracked. This is a legitimate risk factor justifying the existence of the exception.

Policies 195

Policies Lending Risk Management Examples 195

CFPB Monitor

APRIL 22, 2021

The agencies are the Comptroller of the Currency, Farm Credit Administration, FDIC, Federal Reserve Board, and National Credit Union Administration (Agencies). Recently, federal agencies proposed revisions to the Interagency Questions and Answers Regarding Flood Insurance. However, please see the following bullet point.

Policies 60

Policies Compliance Meeting Regulation 60

American Banker

APRIL 25, 2016

The core problem with the living wills, as with other tools in the Dodd-Frank Act to end “too big to fail,” is that they are by definition an attempt at predicting future events.

Regulation 28

Regulation Tools FDIC 28

PYMNTS

OCTOBER 30, 2019

. “While adoption for consumer accounts is enhanced through regulatory drivers, adoption for business accounts is based on market interest,” she stated in her presentation at the Association for Financial Professionals’ AFP 2019 event.

Lending 102

Lending Fintech America Data 102

PYMNTS

JUNE 14, 2018

A certain amount of anonymity must be sacrificed to meet regulations like anti-money laundering (AML) compliance standards. LA Pride weekend, which Brisker noted is the city’s largest public event of the year. Yet creating a true cash replacement is no easy task, especially if one wants it to work for everyone, everywhere. First stop?

Tools 118

Tools Virginia Cards Payments 118

CFPB Monitor

APRIL 28, 2022

As the number and frequency of cyber attacks continue to grow, regulators have attempted to enhance cybersecurity protections via increased and more rigid incident reporting obligations, leading to a constantly shifting regulatory patchwork of varying disclosure and timing obligations. Effective date: April 1, 2022. Bank service providers.

Report 147

Report FDIC Regulation Security 147

South State Correspondent

MARCH 15, 2023

Percentage of Uninsured Deposits: At the time of failure, SVB had approximately 88% of their deposits above the FDIC-insured $250k limit and ran at 95% at the end of last year. Look for more formal education teaching bankers how to talk to customers about FDIC insurance, bank safety, and liquidity concerns.

social media 195

social media FDIC Branding Management 195

Fintech Labs Insights

JULY 9, 2015

This is what sets the New York-based company apart from its numerous competitors– it is the only regulated bitcoin trading platform open to all U.S. Board members—Senator Bill Bradley, former FDIC Chairman Sheila Bair and former FASB Chairman Robert Herz. It also offers tax documentation and FDIC insurance for U.S.

Bitcoin 12

Bitcoin Regulation New York FDIC 12

PYMNTS

MARCH 4, 2019

In terms of upcoming advocacy efforts, Tente told PYMNTS that ATMIA has “a DC fly-in event in April and we will be talking to legislators about this issue.”. Council member and bill sponsor Ritchie Torres has said the ban is a way to make sure lower income communities, and those of color, are not shut out of marketplaces.

Retail 129

Retail New York City New York New Jersey 129

PYMNTS

OCTOBER 1, 2018

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. The DOJ Finding.

Lending 135

Lending Fraud Management San Francisco 135

Jeff For Banks

FEBRUARY 12, 2011

I learn a lot from bankers as I visit their offices, speak to them on the phone or at industry events. FI senior executives fear what their accountants and regulators might make them do. JeffMarsico Bank CEO to me: "I don''t know who is making the decisions [at the FDIC], but they are making some pretty poor ones!"

FDIC 71

FDIC Strategy Regulation Industry 71