CFPB Monitor

JANUARY 24, 2019

A group of 13 state attorneys general and the District of Columbia AG have sent a letter to the FDIC commenting on the agency’s request for information on small-dollar lending. They recommend that “the FDIC discourage banks from entering into these relationships in any guidance it issues on small-dollar lending.”.

FDIC 74

FDIC Lending District of Columbia Compliance 74

CFPB Monitor

APRIL 7, 2022

The FDIC has issued the March 2022 edition of Consumer Compliance Supervisory Highlights which includes a description of some of the most significant consumer compliance issues identified by FDIC examiners during consumer compliance examinations conducted in 2021. Fair lending.

FDIC 78

FDIC Compliance Lending Regulation 78

PYMNTS

NOVEMBER 14, 2018

The Federal Deposit Insurance Corporation (FDIC) announced that it is has issued a request for public comments related to small-dollar lending by financial institutions. ” Recent research from the FDIC shows 20 percent of U.S. With that in mind, the FDIC suggests that in 2017, 14.8

FDIC 128

FDIC Lending Study Meeting 128

CFPB Monitor

NOVEMBER 15, 2018

The FDIC’s issuance of the RFI signals that the FDIC intends to follow suit. A glaring regulatory impediment to small-dollar lending by FDIC-supervised institutions is the FDIC’ s November 2013 guidance on deposit advance products , which effectively precludes FDIC-supervised institutions from offering deposit advance products. (In

FDIC 60

FDIC Lending National Examples 60

CFPB Monitor

MAY 11, 2021

The FDIC’s settlement with Umpqua Bank announced yesterday involved collection practices connected with commercial equipment financing offered by the bank’s wholly-owned subsidiary. Disclosing information about the customers’ debts to third parties. ” For more information and to register, click here. . . million CMP.

FDIC 78

FDIC Lending Trends Regulation 78

Abrigo

MAY 19, 2023

Responsibilities may include assigning initial credit grades, ensuring grade changes are made when needed, or compiling the information necessary to assess the appropriateness of the ALLL. Systems may include components that are independent of the lending function or may place some reliance on loan officers.

System 195

System Regulation How To Lending 195

CFPB Monitor

JUNE 13, 2022

The request for information (RFI) included questions related to the agency’s current bank merger review process, and how the process could be improved. 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?”.

FDIC 78

FDIC Groups Community Meeting 78

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

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

CFPB Monitor

APRIL 22, 2019

The FDIC describes the catalyst for the event as the belief that “at the intersection of research and experience lies good public policy.”. The conference features a brief introduction with Treasury Secretary Steven Mnuchin and FDIC Chairman Jelena McWilliams.

FDIC 68

FDIC Conference Arlington Fintech 68

CFPB Monitor

JUNE 4, 2020

As the federal regulator with supervisory authority over (non-Federal Reserve member) state banks and savings associations, the FDIC continues to play an important role in the consumer protection arena. ET, PLI will offer a one-hour briefing, “Consumer Protection: What’s Happening at the FDIC.” Guidance on small-dollar lending.

FDIC 78

FDIC Groups Lending Industry 78

CFPB Monitor

MAY 22, 2020

Although the OCC’s proposed revisions were issued jointly with the FDIC, the FDIC did not join in the final rule. Unlike the proposal, does not contain benchmarks for the CRA evaluation measure, a specific community development lending and investment minimum, or thresholds for the retail lending distribution tests.

FDIC 78

FDIC Lending Retail Compliance 78

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. Don’t hesitate to reach out and leverage our knowledge to make informed decisions. Over the past 18 months, transaction accounts fell by almost 23%, showing they are not entirely inert.

Risk Management 221

Risk Management United States FDIC Compliance 221

CFPB Monitor

JUNE 29, 2020

The FDIC has issued its widely anticipated final rule resolving the uncertainty caused by the Second Circuit’s Madden v. Although the press release accompanying the FDIC’s final rule states that the “FDIC’s action mirrors” the OCC final rule, the two final rules are not identical in every respect. Midland Funding decision.

FDIC 60

FDIC National Analysis Regulation 60

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. . Why SBA Lending? Want other articles like this on SBA loan origination in your inbox?

Lending 195

Lending FDIC Capital Risk Management 195

CFPB Monitor

JUNE 18, 2019

Last week, the FDIC published its Consumer Compliance Supervisory Highlights that provides observations about its consumer compliance supervision activities in 2018. The FDIC’s anonymized exam findings include: Overdraft Programs. Real Estate Settlement Procedures Act (“RESPA”) Section 8 Violations.

FDIC 60

FDIC Compliance Regulation Training 60

Abrigo

MARCH 2, 2023

Community banks and the entire banking industry face downside risks from inflation, rising market interest rates, and continued geopolitical uncertainty, the FDIC said recently in its quarterly report. Perhaps executives think delaying or cutting spending on technology to make lending more efficient will affect only their staff.

Technology 195

Technology Lending Community Software 195

CFPB Monitor

OCTOBER 9, 2018

The FDIC’s Center for Financial Research has issued a research paper that discusses the use of the information contained in a “digital footprint,” meaning the information that people leave online by accessing or registering on a website, for predicting consumer default. tablet or mobile). tablet or mobile). iOS or Android).

FDIC 92

FDIC Comparison Lending Examples 92

Abrigo

SEPTEMBER 5, 2023

One that particularly annoys me is when an exception is being cited because it’s the only way to effectively track a portfolio segment due to a dearth of data in the bank’s information systems. unsecured lending is bad rather than unsecured lending should only be extended to high pass risk rated credit).

Policies 195

Policies Lending Risk Management Examples 195

CFPB Monitor

DECEMBER 19, 2019

The OCC and FDIC have issued a joint proposal to revise their regulations implementing the Community Reinvestment Act (CRA). Although the Federal Reserve, OCC and FDIC, are the primary CRA regulators, the Fed did not join the proposal and presumably will issue a separate proposal. ” Click here to register.

FDIC 78

FDIC Regulation Community Retail 78

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. Even though community banks make up a small share of total assets and deposits, 13.5%

Community Bank 195

Community Bank Community Kansas City Lending 195

South State Correspondent

AUGUST 21, 2022

Lending Discipline: Hedging programs make loan pricing more transparent and force bankers to exercise sensible pricing methodologies. Second, community banks should use FDIC-insured institutions as hedge providers, and the hedges must be structured as qualified financial contracts (QFC).

How To 195

How To Community Bank Community FDIC 195

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

Abrigo

NOVEMBER 11, 2019

Bankers since the financial crisis have become accustomed to seeing language like the following: “The FDIC is re-emphasizing the importance of prudent interest rate risk oversight and risk management processes to ensure FDIC-supervised institutions are prepared for a period of rising interest rates.” FDIC FIL-46-2013 October 8, 2013.

Management 150

Management FDIC Community Risk Management 150

Abrigo

OCTOBER 28, 2022

Overall, FDIC-insured commercial banks and savings institutions aren’t seeing dramatic increases in net charge-offs ( Chart 1 ) or rates related to declining asset quality ( Chart 2 ), such as past-due rates and rates for non-current loans. Construction Lending. Lending & Credit Risk. Lending & Credit Risk.

Management 195

Management Risk Management Policies Lending 195

Gonzobanker

JUNE 14, 2023

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act.

Compliance 109

Compliance FDIC Strategy Fintech 109

Abrigo

AUGUST 8, 2021

The Federal Reserve, the OCC, the NCUA, and the FDIC repeatedly pointed out that the nature of loan review or credit risk review at a given bank or credit union will vary. Larger or more complex institutions might have credit risk review functions entirely separate from their lending functions. Reviewing lending staff’s risk ratings.

System 195

System Lending Policies Regulation 195

Abrigo

APRIL 21, 2020

Key Takeaways Financial institutions have 10 calendar days to disburse PPP loans To address financial institutions’ liquidity and leverage concerns, regulators have helped to facilitate lending. To address financial institutions’ liquidity and leverage concerns, regulators have helped to facilitate lending. Lending & Credit Risk.

Lending 195

Lending Capital Minnesota FDIC 195

FICO

OCTOBER 4, 2016

The potential of alternative data in consumer lending decisions continues to be a hot topic in Washington, D.C., The Act requires federal banking agencies (the OCC, FDIC and Federal Reserve – “Agencies”) to conduct periodic reviews of each depository institution’s efforts in this area.

Lending 74

Lending Data Community FDIC 74

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

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. For more help dealing with regulatory challenges, visit Sageworks’ resources section.

Regulation 150

Regulation FDIC Survey Community Bank 150

Abrigo

SEPTEMBER 16, 2019

These insights have the potential to inform the market and policy makers on the overall health of the economy, opportunities, and risk.”. The survey for the inaugural index included 512 FDIC banks responding from early in the second quarter through July 5. trade war with China, were more likely to report an index value below 90.

Community Bank 150

Community Bank Community Policies Survey 150

Abrigo

MAY 5, 2022

Sometimes 20 minutes, sometimes 50 minutes, this podcast digs into such topics as creating branch experiences that go hand-in-hand with digital ones, identifying risk, and consumer lending. keep me informed. Lending & Credit Risk. Lending & Credit Risk. Whitepaper. Asset Liability Modeling. Asset/Liability.

Community 195

Community Lending Maine Resources 195

CFPB Monitor

APRIL 1, 2021

In what could be an important step towards needed regulatory updating to accommodate the growing use of artificial intelligence (AI) by financial institutions, the CFPB, FDIC, OCC, Federal Reserve Board, and NCUA issued a request for information (RFI) regarding financial institutions’ use of AI, including machine learning (ML).

Risk Management 78

Risk Management Training Lending FDIC 78

CFPB Monitor

JULY 6, 2022

The agenda’s preamble indicates that the information in the agenda is current as of April 1, 2022 and identifies the regulatory matters that the Bureau “reasonably anticipates having under consideration during the period from June 1, 2022 to May 31, 2023. The Spring 2022 agenda designated two rulemakings to be in the “final rule stage.”

Lending 78

Lending Regulation FDIC Data 78

CFPB Monitor

SEPTEMBER 10, 2020

The DBO indicated that it “is investigating whether LoanMart’s role in the arrangement is so extensive as to require compliance with California’s lending laws. Thus, both the OCC and FDIC have adopted regulations rejecting the Second Circuit’s Madden decision. The FDIC has not yet proposed a similar rule.

Utah 78

Utah California FDIC West Virginia 78

CFPB Monitor

FEBRUARY 23, 2022

The agencies consist of the CFPB, FDIC, OCC, Federal Reserve Board, NCUA, HUD, DOJ, and FHFA. Two leaders of the CFPB’s Fair Lending Office recently published an article advocating for broader use of SPCPs by creditors and calling SPCPs a “central priority” for the CFPB’s efforts to address racial equity.

Regulation 78

Regulation Lending FDIC Compliance 78