Abrigo

MARCH 2, 2023

Takeaway 2 According to Forrester data, firms pursuing technology-driven innovation grow three to four times faster than industry averages. 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.

Technology 195

Technology Lending Community Software 195

Abrigo

AUGUST 6, 2021

Takeaway 2 Community banks are at a crossroads: innovate or be left behind (or acquired). according to FFIEC and FDIC data. 1 Today, community banks are at a critical crossroads: innovate or be left behind (or acquired). . Community banks are critical to ag lending and small business lending. Digitalization.

Community Bank 195

Community Bank Community Kansas City Lending 195

Bank Innovation

JULY 29, 2019

On the heels of digital banking startup Varo Money applying for a banking license with the Federal Deposit Insurance Corporation (FDIC) earlier this month, another fintech firm with its toes in charter waters seems poised to jump in.

FDIC 253

FDIC Digital Banking Fintech Online 253

Abrigo

MAY 5, 2022

Weekly episodes highlight innovators and industry players driving innovation in the financial services industry. 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. Lending & Credit Risk.

Community 195

Community Lending Maine Resources 195

PYMNTS

DECEMBER 10, 2018

The statement gave a nod to “private sector innovation” that can use tech to detect and report financial crimes such as money laundering and terrorist financing. The initiative to embrace deposits comes tied to new rules governing the banking sector that looks to increase options for crowd-lending activity in the country.

Regulation 172

Regulation Fintech FDIC National 172

PYMNTS

SEPTEMBER 30, 2020

Co-signed by the American Bankers Association, Bank Policy Institute, Independent Community Bankers of America and The Clearing House, the letter argues that banks and non-bank technology firms are both already embracing innovation in customer service offerings. FDIC), the states and the courts.

Regulation 349

Regulation National System Industry 349

CFPB Monitor

AUGUST 1, 2018

The FDIC has not yet responded.

FDIC 68

FDIC Regulation Innovation Resources 68

CFPB Monitor

JULY 14, 2022

The California Department of Financial Protection and Innovation (DFPI) has filed its opposition to Opportunity Financial, LLC’s (OppFi) Demurrer to the DFPI’s cross-complaint.

California 78

California Innovation Utah Texas 78

Bank Innovation

APRIL 25, 2019

Fintechs are having trouble facing reality when it comes to obtaining bank charters, FDIC Chairman Jelena McWilliams and Comptroller of the Currency Joseph Otting said here at the FDIC’s Fintech and the Future of Banking conference on Wednesday. WASHINGTON, D.C.

Fintech 186

Fintech FDIC Washington Conference 186

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

PYMNTS

MAY 24, 2018

In 2013, the OCC had discouraged short-term lending by banks with limitations on what could be offered to customers depending on their credit. Regulatory uncertainty forced banks out of this space, leaving families to rely on pawn shops, costly payday lenders or loosely regulated online lending during times of financial stress.

FDIC 100

FDIC Lending Regulation Study 100

Independent Banker

JULY 31, 2022

While many banks are utilizing technology and trying to be innovative, they are doing so on an existing legacy structure that is too expensive, painful and ingrained in their culture to change.”. He began his career in the securities business and specializes in commercial banking, real estate lending and treasury. Filling a need.

Florida 91

Florida Community Bank Community FDIC 91

Bank Innovation

MAY 30, 2019

The three-year-old company, which has so far raised $42 million in funding, on Thursday launched Tally Save, a free app that analyzes users' spending patterns and automatically puts spare funds into an FDIC-insured savings […].

FDIC 186

FDIC Management Company Lending 186

PYMNTS

NOVEMBER 23, 2020

While many digital-first companies springboard from payments into lending, Figure Technologies , a FinTech focused on home improvement, debt consolidation and retirement products that leverage blockchain protocols, is branching out from lending into payments. Blockchain and a bank charter might do much to boost financial inclusion.

National 215

National blockchain Montana Lending 215

PYMNTS

APRIL 29, 2019

Last week Robinhood, the company behind the free mobile trading app, filed an application to open an online bank that would be FDIC insured and offer high rates on savings and low rates on credit cards. Marcus, the online lending unit of Goldman Sachs, uses Infosys for its core banking platform, the report noted. retail consumers.

FDIC 112

FDIC New York Mobile Online 112

CFPB Monitor

SEPTEMBER 10, 2020

Because CCBank is a state-chartered FDIC-insured bank located in Utah, Section 27(a) of the Federal Deposit Insurance Act authorizes CCBank to charge interest on its loans, including loans to California residents, at a rate allowed by Utah law regardless of any California law imposing a lower interest rate limit.

Utah 78

Utah California FDIC West Virginia 78

PYMNTS

MARCH 30, 2020

As COVID-19 saps consumer demand across all manner of verticals, and small businesses bear the brunt of a sudden disappearance of revenues, the firms that lend to those SMBs are feeling heat, too. The absence of top line, which translates into cash, likely shuts at least some conduits for lending. staff, which has 500 employees. “It

Lending 151

Lending FDIC Fintech Operations 151

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). Fair lending.

Risk Management 78

Risk Management Training Lending FDIC 78

PYMNTS

AUGUST 6, 2019

” Select Plus Platform joins other recent LendingClub innovations like Levered Certificates and CLUB Certificates to offer access to the increasingly mainstream asset class of consumer lending. LendingClub has facilitated billions of loans made by WebBank , member FDIC, since its rollout in 2007.

FDIC 108

FDIC Capital Lending Innovation 108

PYMNTS

MARCH 5, 2019

Other existing investors participating in the fundraising round include Menlo Ventures, Forerunner Ventures and Cathay Innovation. Chime said proceeds from the funding will go toward growing the business and launching additional lending and credit products.

Capital 116

Capital San Francisco FDIC Leadership 116

PYMNTS

MAY 14, 2018

In a press release , Citizens Financial said the digital platform will offer FDIC-insured deposits products aimed at serving people who want to save and want the flexibility of an online banking service. Citizens Financial Group announced on Monday (May 14) plans to launch Citizens Access, a nationwide direct-to-consumer online bank.

Online 101

Online FDIC Lending Analytics 101

PYMNTS

APRIL 24, 2020

Cross River Bank aims to connect FinTechs and corporates like Amazon and Google with digital banking, lending and deposit services. As an FDIC insured bank in the U.S., Cross River Bank integrates with clients’ existing digital banking platforms. next year.

Fintech 193

Fintech Capital Security FDIC 193

CFPB Monitor

OCTOBER 10, 2016

” Speakers include industry representatives and an FDIC representative. ” Among the questions to be addressed are whether “regulation and policy inhibit innovation and skew benefits toward the well-to-do.” On October 13, 2016, the Brookings Institute will hold an event in Washington, D.C.

Fintech 60

Fintech FDIC Policies Washington 60

PYMNTS

AUGUST 4, 2020

When the story of the coronavirus is written, when it comes to financial services, the key chapters will focus on the pace at which innovation accelerated — and where a range of players came together to create ecosystems, rather than to simply compete in zero-sum, winner-take-all bids for consumers.

Google 298

Google Digital Banking Course Branding 298

Jeff For Banks

JUNE 2, 2023

The old borrow short, lend long strategy. I want to read to you the FDIC’s conclusion from their An Examination of the Banking Crisis of the 1980’s and Early 1990’s. Who would’ve thought lending $1 million to a San Francisco cab driver to buy a house at 100% loan to value would go bad? What caused a dot-com bubble?

FDIC 78

FDIC Community Bank Regulation Lending 78

CFPB Monitor

OCTOBER 6, 2022

A California state court has overruled the demurrer filed by Opportunity Financial, LLC (OppFi) to the cross-complaint filed by the California Department of Financial Protection and Innovation (DFPI) in which OppFi asked the court to reject the DFPI’s “true lender” challenge. We believe this case is extraordinarily important.

California 78

California FDIC Analysis Utah 78

Bank Innovation

DECEMBER 31, 2018

Bank Innovation’s five picks for companies that made noise in fintech this year may not include any banks, but it does include a company owned by a collection of them. Indeed, as far as innovation is concerned, 2018 was the year of the fintechs and nonbanks -- some friendlier to the traditional players than others. […].

Company 199

Company Fintech Innovation FDIC 199

CFPB Monitor

JANUARY 19, 2022

In its press release announcing the withdrawal , the OCC stated that in December 2021, Figure Technologies amended its charter application for Figure Bank, National Association, to offer FDIC-insured deposit accounts. There needs to be less regulatory competition and more coordination. In July 2018, relying on the NBA and Section 5.20(e)(1),

Technology 78

Technology National FDIC Fintech 78

Jack Henry

AUGUST 24, 2023

By tapping into trusted resources and networks that share a commitment to innovation, Apple offers solutions and services that inspire confidence in customers. By exploring Apple’s methodology, you can learn valuable lessons to apply to your own credit union or bank network to increase loan participations. Start with strong partnerships.

Apple 78

Apple Resources social media FDIC 78

CFPB Monitor

SEPTEMBER 9, 2020

Our letter draws on Ballard Spahr’s two-plus decades of experience in representing banks and savings associations (“Banks”) in establishing lending programs (“Bank-Agent Programs”) where a Bank obtains substantial assistance from a fintech or other non-Bank company (an “Agent”) to offer Bank loans to consumers or small businesses. .

FDIC 78

FDIC National South Dakota Lending 78

FICO

DECEMBER 20, 2018

In our current rising rate environment, any bank that can’t grow (or at least sustain) its deposits base will face shrinking net interest margins and a competitive disadvantage in their consumer lending businesses. small-dollar lending market. This is critical to making the business case for small-dollar lending viable.

Trends 73

Trends Lending Fraud Exercises 73

Bank Innovation

FEBRUARY 18, 2019

CEO James Gutierrez told Bank Innovation his vision is for Aura's 1,200 storefront partner locations to grow to 20,000 locations, including […].

San Francisco 186

San Francisco Fintech Innovation Security 186

FICO

JANUARY 6, 2020

any bank that can’t grow (or at least sustain) its deposits base will face shrinking net interest margins and a competitive disadvantage in their consumer lending businesses….top We began to see a resurgence in small-dollar lending in 2018 with new regulatory guidance from the OCC and FDIC encouraging banks to compete with payday lenders.”.

Data 52

Data Analytics Lending Trends 52

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. lending marketplace. Attorney Alex Tse. “We The Response.

Lending 135

Lending Fraud Management San Francisco 135

CFPB Monitor

MAY 19, 2022

The other provision is Section 22324 which prohibits “contract[ing] for or “negotiat[ing] in this state for a loan to made outside of the state for purpose of evading or avoiding” California lending law.

California 78

California Utah United States FDIC 78

Independent Banker

NOVEMBER 25, 2015

It’s a worrisome and complicated dynamic that’s putting competitive pressure on community banks, but it’s also creating opportunities through data analytics, partnerships and the ability to innovate to meet evolving customer demands. “We See “Closing the Gap” in the November 2015 issue, online at www.independentbanker.org.).

Community Bank 70

Community Bank Community Analytics Lending 70

Jack Henry

JUNE 17, 2015

To some, banking better might mean improved earnings, innovation, enhanced risk mitigation, growth or expansion, and new lines of business. Banking statistics for Q1 2015 were just released by the FDIC. Author: Craig Laures, CLaures@profitstars.com. Banking professionals are always looking for a way to “do better.”

FDIC 60

FDIC Trends Community Innovation 60