CFPB Monitor

DECEMBER 28, 2020

The FDIC has issued a final rule setting forth the conditions it will impose and the commitments it will require to approve a deposit insurance application from an industrial bank or industrial loan company (collectively, ILC) whose parent company is not subject to consolidated supervision by the Federal Reserve Board (FRB).

FDIC 78

FDIC Industry Policies Company 78

Abrigo

NOVEMBER 11, 2019

ALM | 4 minute read Key Takeaways Many financial institutions view asset/liability management as a "check-the-box" regulatory exercise. An extreme focus on using ALM to manage the risk of rising rates means some FIs overlook using ALM to grow earnings and capital, putting them at risk of underperformance. ALM seen as checking the box.

Management 150

Management FDIC Community Risk Management 150

Abrigo

NOVEMBER 24, 2015

Add FDIC Chairman Martin J. Gruenberg to the list of regulators and industry officials warning about growing credit risks in the U.S. Gruenberg said the industry reported another positive quarter overall, with most performance indicators showing improvement. percent in the third quarter from 34.2

FDIC 150

FDIC Lending Community Bank Industry 150

CFPB Monitor

JUNE 13, 2022

One issue raised in the RFI is “to what extent should the CFPB be consulted by the FDIC when considering the convenience and needs factor and should that consultation be formalized?”. Similar to the other industry trade groups, the BPI letter noted that the CFPB was not granted by Congress a right to review or comment on bank mergers.

FDIC 78

FDIC Groups Community Meeting 78

Abrigo

MARCH 2, 2023

Takeaway 2 According to Forrester data, firms pursuing technology-driven innovation grow three to four times faster than industry averages. But as Southwest’s scheduling system crisis over the holidays showed banking and all other industries, technology shortcomings create enormous costs in the short-term and in the future.

Technology 195

Technology Lending Community Software 195

Perficient

NOVEMBER 10, 2023

Retail banks respond to the Federal Reserve’s short-term interest rate adjustments with corresponding changes in lending and deposit rates. More Like This: 5 Major Advances in the Future of Banking, Financial Services, and Insurance (BFSI) Industry Contact us today and let’s explore your financial questions together.

Risk Management 221

Risk Management United States FDIC Compliance 221

PopularBank

DECEMBER 11, 2023

Molly Hime, a long-time Division Manager for Popular Association Banking (PAB), a division of Popular Bank , has announced her retirement, effective December 31, 2023. Carlos Hernandez Named New PAB Division Manager. Effective January 1, 2024, Carlos Hernandez will be Division Manager for PAB. Billion in deposits. “We

Management 52

Management Florida Community Leadership 52

CFPB Monitor

NOVEMBER 19, 2018

Thirteen Republican Senators have sent a letter to FDIC Chairman Jelena McWilliams urging the FDIC to take action to ensure that lawful businesses are no longer at risk of adverse financial consequences as a result of “Operation Choke Point, and its associated culture and Choke Point-like regulatory actions.”.

FDIC 68

FDIC Operations Policies Regulation 68

PYMNTS

APRIL 7, 2016

On the logic that everything is easier when taken on with a team, the big names in marketplace lending are joining forces and forming their own nonprofit trade association. The CEOs of Funding Circle, Lending Club and Prosper have announced the launch of the Marketplace Lending Association (MLA).

Lending 100

Lending San Francisco FDIC Regulation 100

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. “With Visa’s installment solutions, our focus is on enabling the enablers and accelerating the direction of our product,” Duransoy said. The account comes with 1.30

Lending 130

Lending FDIC Minneapolis Utah 130

Gonzobanker

JUNE 14, 2023

To realize the rewards of the BaaS industry, banks and fintechs are going to have to learn to play by some non-negotiable rules – together. Now, the bank is required to receive FDIC approval for all new third parties and credit products. The FDIC Consent Order is going to impact all partnerships going forward.

Compliance 109

Compliance FDIC Strategy Fintech 109

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. . Here are five reasons, according to industry experts. Why SBA Lending?

Lending 195

Lending FDIC Capital Risk Management 195

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. Weekly episodes highlight innovators and industry players driving innovation in the financial services industry.

Community 195

Community Lending Maine Resources 195

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

Jeff For Banks

AUGUST 14, 2022

But what it turned out to be is nothing more than old fashioned thuggery where the government would use the safety and soundness mandate so their regulatory bodies could pressure financial institutions from doing business with disfavored industries. What were disfavored industries? OPC formally ended in 2017. Climate risk.

Operations 78

Operations Lending FDIC Industry 78

PYMNTS

JUNE 13, 2017

Which means it really doesn’t come as all that huge a surprise that as of June 6th, SoFi had applied for a new (de novo) bank charter according to the FDIC. Officially SoFi is looking for an industrial loan charter under the name SoFi Bank in Utah. SoFi has confirmed the news. The bank will offer no other products and services.”.

FDIC 100

FDIC Utah Millennials ATM 100

Abrigo

AUGUST 3, 2017

The FDIC paper The Entry, Performance, and Risk Profile of De Novo Banks published in April 2016 reports that the number of de novo bank failures and acquisitions annually has drastically declined since 2010, primarily due to the fact that new bank formations have become nearly inexistent.

Oklahoma City 150

Oklahoma City FDIC Handbook Oklahoma 150

Abrigo

JANUARY 8, 2016

The GAO acknowledged that community banks, credit unions and their professional industry associations reported increased compliance burdens and reduced activity in specific business activities, such as certain mortgage lending, as a result of Dodd-Frank.

Regulation 150

Regulation FDIC Survey Community Bank 150

PYMNTS

AUGUST 14, 2019

There is a “blurring in the line between lending to small business and personal credit,” she added. Lenders are increasingly treating small businesses as household borrowers,” she continued, “imposing the stricter conditions on small business lending.”. But that mix is not a smart tactic for managing company spend and finances.

Lending 122

Lending Cards FDIC Capital 122

Jeff For Banks

DECEMBER 10, 2023

And I am weary of the persistent "get big or get out" mentality of many industry pundits. Although one might argue that First Citizens BancShares of Raleigh is a SIFI as it climbed to the 19th largest in the country with its Silicon Valley Bridge Bank acquisition from the FDIC, and that the FDIC designated SVB as systemically important.

Fresno 103

Fresno North Carolina Raleigh FDIC 103

Jeff For Banks

JUNE 2, 2023

//Jeff Marsico remarks to the 2023 New Jersey Bankers' Association Annual Convention: May 19, 2023// Four decades ago, the prolonged savings-and-loan crisis devastated the industry. The old borrow short, lend long strategy. To you, manage your interest rate risk. trillion failed. There was an average of 4.3

FDIC 78

FDIC Community Bank Regulation Lending 78

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. Name: Locality Bank. Assets: $55 million. Location: Fort Lauderdale, Fla. Filling a need.

Florida 91

Florida Community Bank Community FDIC 91

PYMNTS

AUGUST 4, 2020

Those ecosystems will leverage the trust that consumers have placed in traditional financial industry players and tech companies of all sizes – including Big Tech , of course. In an announcement, the bank said it would work with Google to debut a co-branded, FDIC-insured, digital-only bank account next year.

Google 298

Google Digital Banking Course Branding 298

CFPB Monitor

AUGUST 20, 2020

FFIEC : On June 5, 2020, the members of the FFIEC (FDIC, OCC, Federal Reserve Board (“FRB”), CFPB, NCUA and the State Liaison Committee) issued an unprecedented statement on the importance of financial inclusion. On July 23, 2020, the FDIC released a podcast entitled “The Role of Minority Banks.” banking system.

Regulation 78

Regulation FDIC Community Lending 78

PYMNTS

OCTOBER 1, 2019

Consumer, enterprise and SMB lending all ground to a near halt and underwriters across the spectrum struggled to regain equilibrium after a crisis in mortgage underwriting bloomed into a plague that destabilized the entire global economic system. The rising tide, it seemed, was lifting all boats. topped the number of ones that closed.

Data 135

Data Lending Capital Regulation 135

Gonzobanker

MAY 4, 2020

All the capital flowing into the digital fintech space is helping to solve banking industry challenges. As the industry’s appetite for digital technology grows, the capital that’s been flowing into mostly digital-focused fintech is solving real industry challenges right now. Unnamed Industry Heavy, March 2020.

Fintech 109

Fintech FDIC Capital Community Bank 109

CFPB Monitor

DECEMBER 5, 2019

The OCC, Federal Reserve Board, FDIC, NCUA and CFPB have issued an “ Interagency Statement on the Use of Alternative Data in Credit Underwriting.”. and how a consumer or small business has managed an account over time (e.g. fixed expenses such as housing, amount of variable expenses, etc.) residual balances).”

Data 97

Data FDIC Compliance Analysis 97

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

South State Correspondent

APRIL 30, 2022

While we have covered the impact of the Fed on lending ( HERE ), we want to focus on the liability side of the balance sheet. We examine the roughly four thousand FDIC-insured commercial banks and S&L associations over the last four decades. Historical Cost of Funds Analysis.

Community Bank 195

Community Bank Strategy Community FDIC 195

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.

Operations 78

Operations Analysis Industry Policies 78

PYMNTS

OCTOBER 1, 2018

By using funds managed by LCA to benefit its parent company, LCA and Laplanche failed to do so.”. We will vigorously investigate wrongful conduct in this industry.”. We have full confidence in our new management team and we are a better company today.”. Attorney Alex Tse. “We The Response.

Lending 135

Lending Fraud Management San Francisco 135

Abrigo

AUGUST 3, 2015

The piece also notes that customer service has suffered as a result of higher compliance costs, and community banks face stricter lending standards and capital reserve requirements. But when the approach historically taken by community banks is limited, their competitive advantage also declines.

Compliance 150

Compliance Community Bank Community Survey 150

American Banker

JANUARY 28, 2020

To guard against headwinds in the agricultural sector, the Federal Deposit Insurance Corp. recommended that institutions consider the “overall financial status” of farm loan borrowers.

Exercises 62

Exercises FDIC Risk Management Industry 62

Abrigo

NOVEMBER 9, 2022

Many institutions are well on their way to being ready, but others are still working through the process,” said Garver Moore, Managing Director of Abrigo’s Advisory Services. Understanding industry practices, as well as examiner and auditor expectations, will allow financial institutions to tackle that transition, too. . Learn More.

Survey 195

Survey Software Resources Meeting 195

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. At a recent banking conference an industry consultant said, matter of factly, that in times of stress your Federal Home Loan Bank (FHLB) borrowing capacity would dry up.

FDIC 60

FDIC System Regulation Conference 60

CFPB Monitor

OCTOBER 13, 2020

For example, the Marketplace Lending Association, a trade association for banks and companies that cap rates at 36% per annum on their loans, wrote: “without access to affordable credit, consumers will be in danger of being ensnared in high cost or predatory debt traps.”.

Lending 60

Lending Colorado FDIC National 60

CFPB Monitor

AUGUST 8, 2019

The letter was conditioned on Upstart’s agreement to a model risk management and compliance plan that required it to analyze and address risks to consumers, and assess the real-world impact of alternative data and machine learning. The Bureau issued its first (and so far only) no-action letter in September 2017 to Upstart Network Inc.

Data 60

Data Lending Compliance Policies 60