CFPB Monitor

NOVEMBER 10, 2020

The Fed, FDIC, and OCC have issued a “ Statement on Reference Rates for Loans ” that addresses replacement rates for the London Inter-Bank Offered Rate (LIBOR). ” The statement highlighted the financial, legal, consumer protection, and operational risks that will result from LIBOR’s expected discontinuation.

Regulation 78

Regulation FDIC New York Lending 78

CFPB Monitor

JULY 12, 2022

However, regulators themselves have been criticized for encouraging de-risking by driving highly risk-adverse decisions by FIs, who are unwilling to take the chance and assume the compliance costs of doing business with specific customers who may in fact be “legitimate,” but whose risk profile is deemed to be high due to their group affiliation.

Regulation 78

Regulation ATM Operations Policies 78

CFPB Monitor

MARCH 10, 2022

Such other agencies include the CFPB, FTC, Federal Reserve Board, FDIC, and OCC. Through this group, the FLEC will work to develop consumer-friendly, trustworthy and consistent educational materials, tools and outreach to help consumers make informed choices about digital assets.”

FDIC 148

FDIC National cryptocurrency Leadership 148

Independent Banker

JULY 31, 2022

Locality Bank, a digital-first community bank serving south Florida that opened in January, is run by industry veterans with such successful track records that regulators signed off on their application for a charter in less than a year. One of the keys to success for our group was the early support of these local business leaders.”.

Florida 91

Florida Community Bank Community FDIC 91

Jeff For Banks

OCTOBER 5, 2020

ESB's President was a dominant official with significant control over bank operations and limited oversight by the Board of Directors (Board). She hid them from the Board and regulators with assistance from unnamed co-conspirators." She hid them from the Board and regulators with assistance from unnamed co-conspirators."

FDIC 78

FDIC Fort Worth Dallas Texas 78

CFPB Monitor

SEPTEMBER 10, 2020

Thereafter, “using its existing lending operations and personnel, LoanMart commenced ‘marketing’ and ‘servicing’ auto title loans purportedly made by CCBank, a small Utah-chartered bank operating out of Provo, Utah.” Thus, both the OCC and FDIC have adopted regulations rejecting the Second Circuit’s Madden decision.

Utah 78

Utah California FDIC West Virginia 78

PYMNTS

OCTOBER 17, 2017

An industrial bank is an FDIC-insured depository institution that is generally subject to the same banking laws and regulations as any other bank charter type, with the important exception of the Bank Holding Act of 1956. That lending operation has been fairly successful for Square, and has lent out over $1.8

Industry 108

Industry Fintech FDIC Community Bank 108

Jeff For Banks

MARCH 5, 2021

According to my firm's profitability peer group, a branch with $74 million in average deposits made a mere pre-tax profit of three basis points. Another challenge is imposed by the very government that tries to assist LMI households: regulation. Since a bank can't cut regulation, they trim their branch network to lower those costs.

Regulation 78

Regulation Indiana Charlotte Community Bank 78

CFPB Monitor

NOVEMBER 29, 2021

Federal banking regulators have been busy in this space. President’s Working Group on Financial Markets, which delineated perceived risks associated with the increased use of stablecoins and highlighted three concerns: risks to rules governing anti-money laundering (“AML”) compliance, risks to market integrity, and general prudential risks.

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

Jeff For Banks

JANUARY 12, 2019

The average 5-year total return for this group was 320%. The average 5-year total return for the group below was -31%. The average board size for this group was 12, and the average age was 66. In terms of bankers, active or retired, this group looks no different than the Top 5. See for yourself.

Community Bank 60

Community Bank Community FDIC Dallas 60

Jeff For Banks

JANUARY 12, 2019

The average 5-year total return for this group was 320%. The average 5-year total return for the group below was -31%. The average board size for this group was 12, and the average age was 66. In terms of bankers, active or retired, this group looks no different than the Top 5. See for yourself.

Community Bank 60

Community Bank Community FDIC Dallas 60

Jeff For Banks

JULY 24, 2010

A bank CEO once told me that peer groups get you to that lazy place. Yet we continue to use peer groups in banking to guide us to where we want to go. I am not against peer groups. Regulators fall victim to this trap too. Their peer group is all commercial banks with assets greater than $3 billion. That came first.

Groups 60

Groups Portland Oregon Strategy 60

Independent Banker

SEPTEMBER 25, 2014

As a group, community banks spend substantial funds hiring outside consultants to help with various management functions, and a substantial share of dollars are spent to help oversee their risk management and compliance activities. Federal regulators say, not always. By Vanessa Drucker. What prompts outsourcing.

Community Bank 70

Community Bank Compliance Risk Management Community 70

CFPB Monitor

NOVEMBER 22, 2022

In particular, the report’s recommendations deserve attention because they are likely to influence future actions by the federal banking regulators and the CFPB. (The The report is also worthwhile reading for its discussion of the role of fintechs and other non-banks in providing consumer financial services and how that role has evolved.).

Fintech 78

Fintech Report Data Lending 78

Jeff For Banks

APRIL 25, 2015

Sure, if you cite studies that say these banks' loan books are predominantly small, as the FDIC measures them. See the accompanying chart for the loan composition for all FDIC-insured banks and thrifts with less than $1 billion in total assets. I don't think de novo banks are key players to business startup capital formation.

FDIC 60

FDIC Capital Community Bank Lending 60

Jeff For Banks

AUGUST 2, 2021

Andy recently tweeted a string of tweets describing his investor group's original investment, their evolution from troubled to healthy institution, and what it took for him and his team to be successful. 1/ @Schornack At the end of July 2013, we invested $1.8MM to buy 49% of Flagship Financial Group, Inc. million in assets and $233.7

Community Bank 78

Community Bank Community Minnesota Metro 78

Jeff For Banks

DECEMBER 16, 2022

SVB Financial Group (Nasdaq: SIVB) Here is this year's list: #1. and Puerto Rico banking laws and regulations. 4 First BanCorp (NYSE: FBP) First BanCorp is a full service financial institution with operations in Puerto Rico, the British Virgin Islands, and Florida. Silvergate Capital Corporation (NYSE: SI) #2. Nasdaq: MCBS) #3.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

Jeff For Banks

MARCH 29, 2014

We serve the dental and other health professional industries through a centralized loan and deposit platform that operates out of our main office in Dallas, Texas and serves clients in 30 states. We serve our local geographic market which is the Dallas - Fort Worth metropolitan area. Texas Capital Bancshares, Inc.

Strategy 101

Strategy Texas San Antonio Fort Worth 101

Jeff For Banks

MAY 16, 2015

The same reason regulators focus on the little things. Today, Board reports closely resemble War and Peace. We don't want to be criticized that our Board was uninformed, so that little embarrassment about the audit exception that turned into employee fraud is on page 262 of your Board report. You mean you didn't see it? That's on you, fella.

Report 60

Report Policies Risk Management Meeting 60

Independent Banker

DECEMBER 13, 2015

He’s part of the FSSCC work group that created the Excel option.). These agencies had input: the Federal Reserve, the Office of the Comptroller of the Currency, FDIC and the National Credit Union Administration. No one knows yet how in-depth the regulators might want those assessments.”. FFIEC’s Cybersecurity Assessment Tool.

Tools 70

Tools Community Community Bank Security 70

Independent Banker

NOVEMBER 24, 2015

He’s part of the FSSCC work group that created the Excel option.). These agencies had input: the Federal Reserve, the Office of the Comptroller of the Currency, FDIC and the National Credit Union Administration. No one knows yet how in-depth the regulators might want those assessments.”. FFIEC’s Cybersecurity Assessment Tool.

Tools 70

Tools Community Community Bank Security 70

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. So, Now What?

Lending 135

Lending Fraud Management San Francisco 135

PYMNTS

OCTOBER 29, 2018

Meanwhile, operating system upgrades give consumers the benefits of new features on older handsets – for free. And that is a bank – one with FDIC insurance and safeguards that keep their money safe. Amazon isn’t the only big tech company that should find regulators terrifying. There’s a whole group of players in the same bucket.

Payments 196

Payments Google Apple Innovation 196

Abrigo

SEPTEMBER 14, 2022

Takeaway 3 Financial institutions should consider the impact of this rule and prepare for changes to their business operations. Online lenders, platform lenders, and fintechs should also consider sending feedback to the CFPB and considering the ways their operations might be affected. Those implementing regulations were coming.

Lending 195

Lending Data Regulation Community 195

CB Insights

DECEMBER 4, 2019

Despite charging lower fees, the company failed to gain enough traction with merchants who feared giving Amazon detailed data on their overall business operations. The 2017 FDIC National Survey of Unbanked and Underbanked Households shows: Approximately 6.5% But in October 2015, the company announced it would be shut down.

Cards 101

Cards Lending Strategy US 101

William Mills

SEPTEMBER 9, 2016

I believe SEC regulations require a company to go public if they have more than 500 shareholders. From their web site: Based in San Francisco, MarketX was founded by a group of experienced professionals from finance, legal, and technology backgrounds. Regulated Financial Institution. I need to learn more.

social media 40

social media ATM Mobile Customer Experience 40

PYMNTS

MAY 2, 2016

What exactly the issue is is not specified, nor is the seriousness of it, with a full range of possible consequences as a result of the investigation from essentially nothing to serious fines and changes to how the app operates. under its direct supervision within the next year or so. Goldman Sachs Goes Digital. Better late than never.

Software 100

Software Mobile Regulation FDIC 100

FICO

DECEMBER 19, 2018

While the database is not expected to be operational for several years, the FCC did provide for a safe harbor that will protect those that leverage the database from TCPA liability. I believe this will slip a few months but by June 2019 the proposed regulations will finally be available for public review and comment. The next step?

Policies 40

Policies District of Columbia Regulation California 40