PYMNTS

OCTOBER 24, 2019

By way of example, FinTechs must cobble together money transmitter licenses from each state in which they operate. But Federal Deposit Insurance Corporation (FDIC) coverage — which protects deposits — proved a sticking point this week. Can’t get the charter without FDIC coverage. As reported , the U.S.

Fintech 101

Fintech FDIC New York National 101

PYMNTS

AUGUST 16, 2019

“The nation’s two largest metropolitan areas are home to a majority of our commercial lending and banking clients,” said Greg Garrabrants, president and CEO of Axos, in a statement. and offer clients FDIC-insured accounts. The bank announced Thursday (Aug.

Los Angeles 101

Los Angeles New York FDIC Lending 101

Abrigo

SEPTEMBER 16, 2019

Dunkleberg is the former dean of Temple’s School of Business and Management and has served as the Chief Economist for the National Federation of Independent Business since 1971. The survey for the inaugural index included 512 FDIC banks responding from early in the second quarter through July 5. Asset/Liability. Credit Risk.

Community Bank 150

Community Bank Community Policies Survey 150

PYMNTS

JANUARY 9, 2018

With big banks pulling back from small and medium-sized business (SMB) lending in the wake of the global financial crisis, the market was ripe for someone else to fill the credit gap. Community banks approved 49 percent of SMB loan applications in November, according to the latest data from the Biz2Credit Small Business Lending Index.

Community Bank 131

Community Bank Community Fintech Lending 131

Gonzobanker

MAY 4, 2020

I like this bank-acquiring-fintech deal (similar to City National Bank’s August acquisition of FilmTrack and 2018 acquisition of Exactuals). LendingClub/Radius Bank: The acquisition of Radius Bank would bring an FDIC-approved, low-cost source of deposits and broader banking services to LendingClub. SoFi/Galileo: This $1.2

Fintech 109

Fintech FDIC Capital Community Bank 109

CFPB Monitor

SEPTEMBER 9, 2020

Ballard Spahr LLP has submitted a comment letter to the OCC in support of its proposed rule , “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”). Three virtually identical Federal Interest Statutes govern interest that may be charged by Banks: Section 85 of the National Bank Act (“NBA”), 12 U.S.C. §

FDIC 78

FDIC National South Dakota Lending 78

CFPB Monitor

JUNE 15, 2020

According to the agency’s press release , the final rule is designed to increase CRA-related lending, investment and services in low- and moderate-income (“LMI”) communities where there is significant need for credit, responsible lending, and greater access to banking services.

Community 60

Community FDIC Lending Examples 60

CFPB Monitor

NOVEMBER 24, 2020

The OCC notes that, in the case of energy industries, the terminated services were not limited to lending “where risk factors might justify not serving a particular client,” but also included advisory and other services unconnected to credit or operational risk. Comments on the proposal are due by January 4, 2021.

Operations 78

Operations Analysis Industry Policies 78

Abrigo

JUNE 4, 2019

The Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Board of Governors of the Federal Reserve System (FRB), and the Office of the Comptroller of the Currency (OCC) have put out a joint statement addressing many frequently asked questions about the new standard.

Policies 186

Policies Capital Report FDIC 186

Jeff For Banks

MARCH 3, 2018

When I wrote that post in January 2011 there were 7,700 FDIC insured financial institutions. SunTrust - Developed Lightstream , a national online lending platform to provide consumer loans for practically any purpose. I think there are enough examples of strategic bets transforming businesses. Was I, gulp, a futurist?

Apple 66

Apple Millennials Massachusetts FDIC 66

Abrigo

NOVEMBER 22, 2021

Consumer Lending Laws & Compliance Financial institutions offering consumer loans need to know about these major consumer lending laws and recent compliance issues. You might also like this webinar, "Consumer Lending 101.". Consumer lending compliance spotlight. Pandemic Issues.

Compliance 195

Compliance Lending Risk Management Regulation 195

Independent Banker

SEPTEMBER 26, 2014

Buhrmaster, president of 1st National Bank of Scotia, in Scotia, N.Y. “As These issues are addressed through the administration of the nationally acclaimed Senior Crimestoppers program to low- and moderate-income residents in nursing homes, Housing and Urban Development Department communities and Veterans Department homes.

Community 101

Community Resources Community Bank Video 101

FICO

MAY 6, 2019

Figure 1 provides a conceptual example of this: for every one borrower at a score of 660 that goes on to not pay their loan as agreed, there are 10 borrowers at that score level that will. There has been considerable coverage of the trend in auto lending towards loans with longer repayment terms.

Lending 75

Lending Trends FDIC Data 75

Independent Banker

JULY 30, 2015

An interview with Paul McGuire, ICBA’s executive vice president, national solutions group. While all of ICBA’s members are FDIC-insured, the association represents Federal Reserve member banks, nationally chartered banks and state-chartered institutions. Meet ICBA’s Membership Contact. Paul McGuire. Email: paul.mcguire@icba.org.

Resources 70

Resources Tools Community Bank Community 70

FICO

MARCH 8, 2021

One particularly useful example is checking and savings account data. The use of this type of alternative data for credit scoring and, ultimately, consumer lending is promising for several reasons. Studies conducted by the FDIC show that there are tens of millions of U.S. Increasing Lender Confidence.

Data 52

Data Innovation Examples Study 52

Independent Banker

SEPTEMBER 25, 2014

As David Barr, spokesperson for the FDIC, points out, “a vast majority of community banks remain well-rated and exhibit satisfactory corporate governance programs and compliance management systems.”. Anna DeSimone, president of Bankers Advisory, a lending compliance consulting firm in Belmont, Mass., increased operational risks. “So

Compliance 101

Compliance Regulation Community Bank Community 101

CFPB Monitor

MARCH 26, 2020

The CFPB, OCC, FDIC, Federal Reserve, and NCUA have issued a joint statement “to specifically encourage” banks, savings associations, and credit unions “to offer responsible small-dollar loans to both consumers and small businesses” in response to the COVID-19 outbreak. For example, what rates will the agencies view as “responsible”?

FDIC 78

FDIC Lending National Examples 78

Filene

JULY 18, 2018

The lack of access to culturally relevant, fair, dignified – and vital – financial education, products and services is made worse by a cloudy legislative commitment to fixing the nation’s broken immigration system. The FDIC says more than 45 percent of Hispanic households were unbanked or underbanked in 2015.

Community 28

Community Study Resources Lending 28

PYMNTS

JANUARY 31, 2019

is set to see its first new community bank in decades, as the Federal Deposit Insurance Corporation (FDIC) lent its approval for MOXY Bank to launch in Washington, D.C. MOXY Bank, for example, aims to introduce corporate treasury management services, as well as offerings for small business (SMB) owners. Bloomberg listed Casey G.

Community Bank 122

Community Bank Community FDIC Marketing 122

CB Insights

DECEMBER 4, 2019

Through trial and error, the company has set up key financial pillars across payments, cash deposits, and lending. The 2017 FDIC National Survey of Unbanked and Underbanked Households shows: Approximately 6.5% Amazon Lending. Today, Amazon has expanded its business lending to the US and UK. Amazon SMB Lending.

Cards 101

Cards Lending Strategy US 101

Independent Banker

JUNE 30, 2022

Here, we highlight some of last year’s most successful loan producers in the areas of agriculture, commercial and consumer/mortgage lending. Using FDIC data for 2021, we calculated a lender score out of 100 for each community bank. Ag lending in the South: Relationships matter. It also indirectly benefits our lending business.

Community Bank 172

Community Bank Community National Philadelphia 172

CFPB Monitor

MAY 7, 2020

The CFPB’s annual fair lending report covering its 2019 activities is scheduled to be published in tomorrow’s Federal Register. The Bureau states that an area of innovation that it is monitoring for fair lending and credit access issues is “artificial intelligence (AI), and more specifically, machine learning (ML), a subset of AI.”

Lending 78

Lending Report FDIC Policies 78

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

NOVEMBER 29, 2021

Financial institutions generate most of their income by lending and investment activities. Specific examples of the four types of noninterest income include: Service charges/fee income : Account service charges as well as non-sufficient funds (NSF), ATM, safe deposit box, and wire transfer fees. Types of Noninterest Income.

Community Bank 195

Community Bank Community FDIC Trends 195

CFPB Monitor

JUNE 25, 2020

The final CRA rule is an effort by the OCC to provide objective measures to evaluate the CRA performance of national banks and savings associations supervised by the OCC (including federal and state-chartered savings associations and uninsured federal branches of foreign banks). Qualifying Activities.

Community 97

Community Lending Meeting Retail 97

CFPB Monitor

JUNE 15, 2021

The items identified in the agenda as in the “proposed rule stage” are: Business Lending Data (Regulation B). In April 2021, the Bureau issued an NRPM to amend Regulation X in various ways to address the COVID-19 national emergency. In the agenda, the Bureau indicates that it expects to issue a final rule in January 2022.

Regulation 78

Regulation FDIC Lending Data 78

CFPB Monitor

DECEMBER 7, 2022

Lisa Rice, President and CEO, National Fair Housing Alliance; Mr. Marc H. Morial, President and CEO, National Urban League; The Honorable Byron Donalds (R-FL), United States House of Representatives; Mr. Devon Westhill, President and General Counsel, Center for Equal Opportunity; and Ms. The witnesses included: Ms.

Community 78

Community Compliance Industry National 78

William Mills

SEPTEMBER 9, 2016

Example of clients wants bond’s from Asia, Investor and put in all of their investment details, including amount, range, and the platform will give you all the “approved” bonds that the platform recommends. International lending platform – Create opportunities for Investors. BondIT sends email alerts about portfolios for clients.

social media 40

social media ATM Mobile Customer Experience 40

Abrigo

JULY 22, 2022

Takeaway 2 While these financial products are appealing, the lack of stability and consumer protections surrounding them are a concern for the FDIC. ? . Takeaway 3 Financial institutions should notify the FDIC of crypto-related activity and be familiar with the risks of the cryptocurrency world. . Crypto turbulence.

cryptocurrency 195

cryptocurrency FDIC Regulation Fraud 195

CFPB Monitor

MAY 16, 2019

Senator Bernie Sanders recently announced that he will be introducing a bill, the “Loan Shark Prevention Act ,” that would amend the Truth in Lending Act (15 U.S.C. Supreme Court in Marquette National Bank v. This authority, which is referred to as the “Most Favored Lender” doctrine, has also been interpreted by the U.S.

Pennsylvania 87

Pennsylvania Lending Omaha National 87

CFPB Monitor

DECEMBER 16, 2020

The new CFPB Director should restore the role and responsibilities of the Office of Fair Lending and Equal Opportunity. The OCC and FDIC should rescind their Madden -fix rules and the OCC should rescind its “true lender” rule. The DOJ, CFPB, and federal banking regulators should prioritize fair lending enforcement.

Policies 78

Policies Regulation Lending FDIC 78

CFPB Monitor

OCTOBER 13, 2020

We recently published a blog about the OCC’s proposed rule “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”), which would clarify that a bank (or savings association) is properly regarded as the “true lender” when, as of the date of origination, it is named as the lender in a loan agreement or funds the loan.

Lending 60

Lending Colorado FDIC National 60

FICO

JULY 17, 2017

Adding to these legislative initiatives are such must-do items as flood insurance, appropriations funding, the FAA Authorization Act, the National Defense Authorization Act and, of course, the lifting of the debt ceiling. There are even rumblings of serious work on housing finance reform. And now there is even more on Congress’s plate.

US 40

US Leadership Regulation Policies 40