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

Abrigo

MAY 20, 2022

Meet Model Risk Management Expectations Updates to the FDIC Risk Management Manual should steer institutions toward a model that manages risk and drives growth. FDIC Update. Last April, the FDIC released an Interagency Statement titled Model Risk Management (MRM) for Bank Models and Systems Supporting BSA/AML Compliance.

Risk Management 195

Risk Management Management FDIC Meeting 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. Regulation E – Mistakes Made in the Consumer Liability/Error Resolution Process.

FDIC 60

FDIC Compliance Regulation Training 60

Cisco

JULY 12, 2022

Regulatory requirements are a key operational concern that we hear about from our financial customers. A number of our financial institution customers are regulated by multiple, and different, regulatory bodies. The 2021 Updates in the Architecture, Infrastructure, and Operations book. Operations and Operational Processes.

Regulation 71

Regulation FDIC System Software 71

Abrigo

DECEMBER 22, 2023

Abrigo's most popular risk management blogs over the last 12 months cover topics that continue to catch the attention of professionals and regulators. Those read most often in the past year include several that offer practical advice for operating ALM and CECL models. The FASB’s description of proposed changes can be found here.

Risk Management 221

Risk Management Regulation Management Lending 221

American Banker

AUGUST 14, 2023

explored the various credit, market and operational risks facing the banking sector. In its annual report, the Federal Deposit Insurance Corp. It also explored crypto and climate issues.

FDIC 67

FDIC Operations Marketing Report 67

CFPB Monitor

OCTOBER 21, 2021

The CFPB, Federal Reserve Board, FDIC NCUA, OCC, in conjunction with the state bank and state credit union regulators, jointly issued a statement on managing the transition away from LIBOR (Joint Statement). The Joint Statement indicates that in March 2021, the FCA announced that the one-week and two-month U.S. Fallback language.

Regulation 78

Regulation Management FDIC Risk Management 78

PYMNTS

SEPTEMBER 30, 2020

House committee this week began reviewing the idea of allowing the likes of Amazon or Facebook to receive charters to operate as banks — an idea that’s already gotten plenty of pushback from traditional financial institutions (FIs). FDIC), the states and the courts. However, the banking industry doesn’t like that one bit. “We

Regulation 349

Regulation National System Industry 349

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

MARCH 10, 2022

Such other agencies include the CFPB, FTC, Federal Reserve Board, FDIC, and OCC. The Order calls for its implementation through the use of an interagency process in which certain specified agencies would participate and in which representatives of other agencies “may be invited to attend interagency meetings as appropriate.”

FDIC 148

FDIC National cryptocurrency Leadership 148

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

Abrigo

OCTOBER 28, 2022

Takeaway 1 Signs point to increased loan modifications and loan workouts, and regulators have urged financial institutions to work prudently with borrowers. . Meanwhile, regulators are focusing fresh attention on prudent credit risk management of loans, especially CRE, and loan modifications in general. CRE loan accommodations.

Management 195

Management Risk Management Policies Lending 195

South State Correspondent

AUGUST 21, 2022

We compared and contrasted the two strategies and sized the market for community banks. Second, community banks should use FDIC-insured institutions as hedge providers, and the hedges must be structured as qualified financial contracts (QFC). We also shared a table that summarized the two strategies.

How To 195

How To Community Bank Community FDIC 195

South State Correspondent

MARCH 15, 2023

Percentage of Uninsured Deposits: At the time of failure, SVB had approximately 88% of their deposits above the FDIC-insured $250k limit and ran at 95% at the end of last year. Previously, if banks were able to borrow against these securities, it would be at 98% of the market value or less, depending on the investment type.

social media 195

social media FDIC Branding Management 195

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. Location: Fort Lauderdale, Fla. That’s no small feat for any de novo, especially during a pandemic.

Florida 91

Florida Community Bank Community FDIC 91

PYMNTS

AUGUST 16, 2019

Axos Bank parent company Axos Financial has rolled out out commercial banking operations across new markets in the U.S., The bank is targeting the middle-market and niche clientele, it noted. Axos Bank is also focusing on the small and medium-sized business (SMB) market. and offer clients FDIC-insured accounts. .”

Los Angeles 101

Los Angeles New York FDIC Lending 101

Abrigo

JANUARY 29, 2020

Key Takeaways The FDIC issued an advisory to FIs encouraging safe and sound lending practices in today's ag lending environment. FDIC) issued an advisory to financial institutions encouraging exceptionally safe and sound lending practices in agricultural lending. On January 28, the Federal Deposit Insurance Corp.

Lending 195

Lending How To FDIC Survey 195

CFPB Monitor

MARCH 30, 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes the following key provisions that affect financial institutions and regulation of financial institutions: Section 4003 – Emergency Relief and Taxpayer Provisions. Section 4008 – Debt Guaranty Authority.

Regulation 122

Regulation United States Community Bank National 122

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

BankBazaar

APRIL 19, 2023

Amid the financial uncertainties, Silicon Valley Bank (SVB) collapsed in March this year, sending shockwaves across the global financial markets. What have the regulators done? After the collapse, the governments and regulators across the world are checking for SVB exposure in their corporate and banking sectors.

US 78

US United States FDIC Regulation 78

Independent Banker

SEPTEMBER 25, 2014

The better prepared, the less likely they are to run afoul of the continually shifting regulations. Regulators and industry consultants agree that community banks are generally doing a great job handling their regulatory oversight and requirements. increased operational risks. Be aware of existing or emerging risk concerns.

Compliance 101

Compliance Regulation Community Bank Community 101

CFPB Monitor

MAY 22, 2020

The Federal Reserve, OCC, FDIC, and NCUA have issued “ Interagency Lending Principles for Offering Responsible Small-Dollar Loans.” Effective management of credit, operational, compliance, and other risks.

FDIC 78

FDIC Policies Lending Guidelines 78

CFPB Monitor

MAY 6, 2021

Atlanticus/Fortiva performs all of the collections, servicing, payment and remittance operations in connection with the accounts. In 2016, the OCFR brought an enforcement action against CashCall, a nonbank operating a high-rate bank model program. million in penalties against CashCall.

Maryland 78

Maryland Lending Missouri FDIC 78

PYMNTS

AUGUST 7, 2019

market is not like others across the globe. regulations have not only mandated traditional FIs to open customer data to third-party FinTechs on the authorization of joint customers, the regulatory landscape has also encouraged greater competition in the small business banking space, giving rise to a flock of challenger banks.

Fintech 181

Fintech Strategy Resources Payments 181

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

CFPB Monitor

OCTOBER 17, 2022

The new report represents a return to the Bureau’s pre-2016 practice of including in the annual report not only the information on college credit card agreements mandated by the CARD Act but also information on other financial products marketed to students. College Deposits Market.

Cards 78

Cards Report Regulation FDIC 78

Jeff For Banks

FEBRUARY 6, 2011

The FDIC has nearly quadrupled its enforcement actions (“EA”) over the past three years. The productive view about the similarity of EAs is why haven’t we been doing some of the things required by regulators in the first place? Banking is a highly regulated industry, and has been since the Great Depression.

Regulation 70

Regulation FDIC National Capital 70

Jeff For Banks

MARCH 5, 2021

Shouldn't the CFPB work to address the impediments to starting a bank in LMI markets rather than punish community banks who scrambled to serve their customers when the economy shut down? Another challenge is imposed by the very government that tries to assist LMI households: regulation. Retail banking is heavily regulated.

Regulation 78

Regulation Indiana Charlotte Community Bank 78

PYMNTS

NOVEMBER 23, 2020

Figure Pay, he said, with the ability to scan QR codes at checkout, is predicated on the concept of using a blockchain payment rail in lieu of interchange as the network is built out — and across a swath of merchants as large as Walmart and small as localized farmers’ markets (in a type of “barbell” approach) upon initial launch early next year.

National 215

National blockchain Montana Lending 215

CFPB Monitor

NOVEMBER 22, 2022

The Treasury Department has released a report entitled “ Assessing the Impact of New Entrant Non-bank Firms on Competition in Consumer Finance Markets.” The report looks at the role of these new entrant non-banks, how they interact with insured depository institutions (IDIs), and their impact on these core markets.

Fintech 78

Fintech Report Data Lending 78

CFPB Monitor

NOVEMBER 24, 2020

A bank with $100 million or more in total assets would be presumed to hold such a market position but could attempt to rebut the presumption by submitting written materials to the OCC demonstrating it does not hold either market position. Comments on the proposal are due by January 4, 2021.

Operations 78

Operations Industry Analysis Policies 78

Jeff For Banks

FEBRUARY 17, 2021

Yesterday at the ABA's virtual Conference for Community Bankers (CCB), Federal Reserve Governor Michelle Bowman gave a speech, My Perspective on Bank Regulation and Supervision. Market shares for a local banking market are based on the deposits of depository institutions in the market.

St. Louis 78

St. Louis Analysis Community Bank Community 78

PYMNTS

AUGUST 14, 2019

In the world of small business financial services, entrepreneurs’ frustrations with banking have been loudly vocalized : firms are often considered too small to be profitable for banks’ corporate services units and are therefore pushed into an FI’s consumer banking operations. Again, this issue is not isolated to Australia.

Lending 122

Lending Cards FDIC Capital 122

NCR

JUNE 17, 2016

Historically, the financial services sector has been reluctant to embrace digital marketing—or expand into new online domestic and global markets. There’s no mystery as to why: banks must navigate a veritable sea of regulations, including strict guidelines on how to communicate with customers and prospects.

Marketing 40

Marketing Online Branding social media 40

NCR

NOVEMBER 24, 2016

Historically, the financial services sector has been reluctant to embrace digital marketing – or expand into new online domestic and global markets. There’s no mystery as to why: banks must navigate a veritable sea of regulations, including strict guidelines on how to communicate with customers and prospects.

Online 40

Online Marketing Branding social media 40

Gonzobanker

MARCH 22, 2023

Irvine Sprague, Former FDIC Director So Gonzo Bankers … how many of us have been hesitant lately to check our iPhone each morning to see what trouble may have hit the fan in the financial world during a few restless hours of slumber? It’s a good time to surround the executive team with a diversity of smart advisors and capital market players.

social media 78

social media Capital Risk Management Strategy 78

CFPB Monitor

JULY 7, 2022

The white paper concludes as follows: The CFPB’s action has tremendous implications for consumers, banks, and for financial markets at large. A member of Congress can request a GAO opinion on whether the CFPB’s actions are a rule, which can trigger CRA review. Supreme Court’s decision on June 30, 2022 in West Virginia v.

Groups 145

Groups West Virginia Policies Virginia 145