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

MARCH 24, 2020

The FDIC has issued a proposed rule setting forth the conditions it would impose and the commitments it would 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 60

FDIC Taxes Industry Policies 60

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

NOVEMBER 3, 2014

Information provided to the board – Is there a need for improved, additional and/or more frequently updated information to provide maximum value and meet oversight responsibilities? Board Composition – What, if any, changes are needed? Or, do they need more context and less data?

Meeting 170

Meeting Policies Training Exercises 170

Abrigo

MAY 19, 2023

Does your loan review system meet regulatory expectations? Read more for specific objectives every loan review system should meet. WATCH Takeaway 1 Loan review officers must figure out how to adhere to the FDIC’s guidance on loan review and credit risk review systems.

System 195

System Regulation How To Lending 195

Abrigo

MARCH 31, 2017

FDIC officials in March outlined several types of weaknesses in loan underwriting, administration and oversight practices that are emerging at some banks with CRE portfolios. Eberley, director of the FDIC's Division of Risk Management Supervision wrote in the publication.

FDIC 186

FDIC Risk Management Analysis Lending 186

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

CFPB Monitor

APRIL 28, 2022

In 2005, the federal prudential regulators—including the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC)—issued Interagency Guidance on Response Programs for Unauthorized Access to Customer Information and Customer Notice.

Report 147

Report FDIC Regulation Security 147

Abrigo

APRIL 12, 2016

The FDIC is offering a fresh take on how a bank’s board of directors should understand and manage risk. The regulator’s April edition of Supervisory Insights provides what the FDIC called a “refresher” on its Pocket Guide for Directors, the 1988 booklet outlining the basic duties and responsibilities of a bank’s board of directors.

Management 150

Management FDIC Risk Management Community Bank 150

South State Correspondent

AUGUST 21, 2022

Meet Competitive Pressures: National and larger regional banks are specifically targeting better borrowers for seven, ten, or 20-year fixed-rate loans. 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

MARCH 10, 2022

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.” Such other agencies include the CFPB, FTC, Federal Reserve Board, FDIC, and OCC.

FDIC 148

FDIC National cryptocurrency Leadership 148

Independent Banker

JUNE 30, 2022

We were looking at ways to increase our deposit base and impact the communities we serve,” says Tom Kientz, chief operating officer. According to Kientz, if an HOA has an FDIC-insured bank account of more than $250,000, it often takes multiple banks to manage the funds—but Academy Bank can handle accounts of that size on its own.

Kansas City 91

Kansas City Kansas FDIC Community Bank 91

PYMNTS

OCTOBER 28, 2019

Banking services are provided via a collaboration with The Bancorp Bank, Member FDIC. “Historically, banks have underinvested in small businesses — and, as a result, small businesses have been left with products and services that don’t meet their needs,” said BlueVine CEO and Co-founder Eyal Lifshitz in a statement.

Cards 101

Cards FDIC Meeting Online 101

CFPB Monitor

NOVEMBER 11, 2021

The agencies explain that they believe the temporary flexibility is no longer needed “because servicers have had sufficient time to adjust their operations by, among other things, taking steps to work with consumers affected by the COVID-19 pandemic and developing more robust business continuity and remote work capabilities.”.

Compliance 78

Compliance Regulation FDIC Meeting 78

PYMNTS

JANUARY 24, 2019

.” The company pointed to analysis from the FDIC , whose 2018 Small Business Lending Survey found that only a few banks in the U.S. Fundation operates as a collaborator rather than a competitor, working with traditional financial institutions to digitize and enhance their own SMB lending operations.

California 122

California Lending FDIC Online 122

Abrigo

MARCH 2, 2023

Takeaway 3 Financial institutions can use focused tech spending to make sure solutions will meet needs and provide appropriate ROI. 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

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. Customers and analysts will look for this ratio to be over 100% so that borrowings can meet any uninsured runoff. This is compared to about 40% at most banks.

social media 195

social media FDIC Branding Management 195

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. Repayment outcomes and program structures that enhance a customer’s financial capabilities.

FDIC 78

FDIC Policies Lending Guidelines 78

PYMNTS

OCTOBER 22, 2019

announced that it is partnering with Evolve Bank & Trust , an FDIC-insured financial services organization, to offer a full suite of customizable credit, debit, prepaid and DDA products. Founded in 1925, Evolve Bank & Trust operates retail branches throughout the mid-south and mortgage production offices nationwide.

Fintech 100

Fintech FDIC ATM Cards 100

Jeff For Banks

JANUARY 14, 2021

Much like the General Store fell victim to the supermarket and the lumber yard fell victim to Home Depot, I predicted the community bank that did not pick targeted customer niches or develop product expertise will meet it's doom. Imagine if they did operate fee-based lines of business profitably. It was a pretty alarming slide.

Community Bank 130

Community Bank Community FDIC Strategy 130

Jeff For Banks

DECEMBER 10, 2023

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. Nasdaq: TBBK) Here is this year's list: #1. M&F Bancorp, Inc.

Fresno 101

Fresno North Carolina Raleigh FDIC 101

Abrigo

NOVEMBER 9, 2022

Financial institutions work to meet Q1 2023 CECL deadline A CECL implementation survey by Abrigo found progress by financial instittuions is mixed ahead of the upcoming deadline. . How has CECL implementation impacted their operations and reserves for credit losses? CECL's impact on operations. Process changes.

Survey 195

Survey Software Resources Meeting 195

PYMNTS

FEBRUARY 15, 2019

Those agencies include the aforementioned FinCEN, the Federal Reserve , the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA) and the Office of the Comptroller of the Currency (OCC).

Compliance 122

Compliance Fraud United States FDIC 122

Independent Banker

MARCH 31, 2022

based banks, fintechs and more, sits on top of a payments rail operated by Payrailz, a digital payments company based in Glastonbury, Conn. Moreover, payments are withdrawn from the user’s FDIC-insured checking account and are protected by multiple layers of security, which prevents fraudster access. billion-asset community bank. “We

Community Bank 91

Community Bank Community Payments Meeting 91

PYMNTS

AUGUST 29, 2018

Those that fail to get a passing grade can be limited in how they expand via mergers and acquisitions and opening new branches until they meet the requirements of the rule. The FDIC and FCC did not back the comments on the part of the OCC, although both have shown an interest in rewriting the rules. and Federal Reserve.

Community 100

Community FDIC Compliance Regulation 100

BankBazaar

APRIL 19, 2023

A bank run can quickly lead to a bank’s insolvency if it does not have enough cash on hand to meet the demand for withdrawals. Additionally, central banks can provide liquidity to banks in times of stress to help them meet the demand for withdrawals and avoid insolvency. What have the regulators done?

US 78

US United States FDIC Regulation 78

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. Proposed Rule. Commenters have until Nov.

Lending 195

Lending Data Regulation Community 195

Abrigo

NOVEMBER 22, 2021

Takeaway 1 Risk tied to consumer lending compliance has been elevated as a result of the pandemic and associated operating challenges. In some cases, those operational challenges posed elevated risk to consumers, the CFPB said. However, according to the FDIC , they can be deemed as such based on their information sharing practices.

Compliance 195

Compliance Lending Risk Management Regulation 195

MyBankTracker

APRIL 27, 2021

FDIC insured. With the eChecking account acting as the central hub of your finances, it will probably be quite easy to meet the requirements to maximize the interest earned on your Savings Connect balance. Without these operational expenses, online banks such as CIT Bank often provide more value to consumers. FDIC Insurance.

ATM 52

ATM FDIC Mobile Cards 52

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 Industry Analysis Policies 78

CFPB Monitor

JANUARY 25, 2021

Acting Comptroller Brian Brooks left the OCC on January 14 and Chief Operating Officer Blake Paulson was named Acting Comptroller upon Mr. Brooks’ departure. The other agencies that adopted a substantially similar rule on January 19 are the FDIC, the Federal Reserve Board, and the NCUA.).

Policies 78

Policies FDIC Leadership Meeting 78

Jeff For Banks

OCTOBER 29, 2016

I recently spoke at a Financial Managers' Society (FMS) breakfast meeting on this subject and thought I would share my comments with you. In 2006, when the median asset size within my firm's profitability outsourcing service was $696 million, the operating cost per business checking account was $586 per year.

Training 60

Training FDIC Community Resources 60

PYMNTS

MARCH 26, 2020

But as of 2020, it is a subject upon which seasoned experts can disagree, in a world where traditional banks and FinTechs are operating in parallel in the market – and, in many cases, are offering similar services for consumers. What we learned was interesting.

Innovation 241

Innovation Fintech Data Examples 241

Jeff For Banks

OCTOBER 9, 2016

I recently performed this analysis for a client, identifying the “Data Processing” expense as a percent of total operating expenses for all FDIC insured banks as identified in their call report. Surprisingly, it represented only 4% of total operating expense. Note this excludes IT personnel expense. Robotics are coming.

FDIC 60

FDIC Trends Operations Examples 60

CFPB Monitor

OCTOBER 17, 2022

We are concerned that institutions may be failing to meet their regulatory obligations [with respect to Title IV funds] and are issuing this letter to highlight those areas of most concern.” In the letter, ED referenced the CFPB report and stated that it is “aware of certain practices that may pose risks or excessive costs to students….We

Cards 78

Cards Report Regulation FDIC 78

CFPB Monitor

SEPTEMBER 9, 2020

1831d(a) (“Section 27(a)”), which governs the interest charges of state-chartered FDIC-insured banks. Although the FDIC recently issued a Madden -fix (valid-when-made) rule that reaches the same results under the FDIA as does the OCC’s Madden -fix rule, the FDIC has not proposed a companion “true lender’ rule.

FDIC 78

FDIC National South Dakota Lending 78

Jeff For Banks

MAY 16, 2015

Are we trying to fool ourselves into believing that all of our Board members are reading the 300+ pages we send to them two days prior to the Board meeting every month? Especially since most directors don't have the time to read 300 pages for their upcoming Board meeting. Sure, there will be some that do. How could they? In two days!

Report 60

Report Policies Risk Management Meeting 60