Perficient

DECEMBER 27, 2023

Significant increases in Suspicious Activity Reports (SAR) filings related to fraud highlight the importance of effective processes to prevent, identify, and file SARs within a timely manner. Once published by regulators, Perficient’s Risk and Regulatory CoE will be here to walk our clients through the changes.

Compliance 221

Compliance FDIC Regulation Fraud 221

PYMNTS

JANUARY 7, 2019

In Ireland, reported CryptoGlobe , the Irish cabinet has approved legislation that will bring more regulation to the sector. Separately, in India, the action toward crypto regulation seems to be … inaction. The site noted that the new rules still await passage by the country’s legislative body.

Regulation 151

Regulation cryptocurrency National Capital 151

PYMNTS

DECEMBER 3, 2019

Banks no longer have to submit a suspicious activity report (SAR) just because a business is growing or cultivating hemp. Financial institutions should follow standard SAR procedures and submit a report only if there is questionable behavior.

Regulation 137

Regulation Guidelines FDIC Conference 137

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

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

Independent Banker

DECEMBER 31, 2022

The FDIC approved a final rule to increase initial base deposit insurance assessment rates by 2 basis points until the Deposit Insurance Fund (DIF) achieves the FDIC’s long-term goal of a reserve ratio of 2% of insured deposits. The FDIC’s long-term goal for the reserve ratio of insured deposits. Source: FDIC.

Compliance 100

Compliance FDIC Community Bank Community 100

CFPB Monitor

AUGUST 20, 2020

federal and state financial institution regulators have taken meaningful, proactive steps to acknowledge financial inequality issues, reach out to traditionally underserved populations to expand access to credit, and further protect consumers from discrimination. This blog post contains a summary of those efforts.

Regulation 78

Regulation FDIC Community Lending 78

CFPB Monitor

APRIL 13, 2022

A report recently issued by the Government Accountability Office titled “ Banking Services: Regulators Have Taken Actions to Increase Access, but Measurement of Actions’ Effectiveness Could Be Improved ,” strongly suggests that banks and credit unions are unlikely to increase their small-dollar lending as consumer advocates contend.

Report 78

Report Lending FDIC Regulation 78

CFPB Monitor

MAY 22, 2020

The OCC has issued a final rule revising its regulation implementing the Community Reinvestment Act (CRA). The final rule applies to national banks and federal savings associations. Although the OCC’s proposed revisions were issued jointly with the FDIC, the FDIC did not join in the final rule.

FDIC 78

FDIC Lending Retail Compliance 78

Cisco

JULY 12, 2022

A number of our financial institution customers are regulated by multiple, and different, regulatory bodies. To help streamline audit, the FFIEC as an interagency body, creates uniform principles, standards, and report forms for federal examinations of financial institutions. In the U.S.

Regulation 71

Regulation FDIC System Software 71

PYMNTS

OCTOBER 24, 2019

First, a bit of background: The goal has been — and if things are indeed put to rest with a recent court decision — to standardize a patch quilt of regulations that must be satisfied by FinTechs on a state-by-state basis. But Federal Deposit Insurance Corporation (FDIC) coverage — which protects deposits — proved a sticking point this week.

Fintech 101

Fintech FDIC New York National 101

Abrigo

MARCH 25, 2020

Key Takeaways Banking regulators say short-term, COVID-19-related loan modifications shouldn't automatically be categorized as TDRs. Regulators also announced other guidance tied to reporting and risk-based capital rules. Regulators also announced other guidance tied to reporting and risk-based capital rules.

FDIC 150

FDIC Regulation Exercises Community 150

Jeff For Banks

AUGUST 2, 2014

My firm will occasionally provide feedback on correspondence to our clients'' regulators. I thought about what we should have said to the regulator, versus the sweet words I was encouraging our client to use. Below is a sample letter to your regulator, saying it like you mean it. Warm Regards, Schmidlap National Bank.

Regulation 93

Regulation DC FDIC Analytics 93

PYMNTS

MAY 24, 2018

The guidance did not change any regulation, but clarified the regulator’s stance on the loans, Reuters reported. 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

CFPB Monitor

JANUARY 19, 2015

Section 342 of Dodd-Frank directs each of the federal financial regulatory agencies to create an Office of Minority and Women Inclusion (OMWI) to oversee diversity efforts at the agencies, and further, to develop standards for assessing diversity policies and practices at regulated financial entities.

FDIC 60

FDIC Report Policies Regulation 60

PYMNTS

JANUARY 30, 2018

In addition, the agency was able to freeze the company’s assets and those of its two co-founders, CNBC reported. In addition, the SEC alleges AriseBank “falsely stated that it purchased [a Federal Deposit Insurance Corporation]-insured bank, which enabled it to offer customers FDIC-insured accounts.”

Texas 111

Texas social media FDIC Dallas 111

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. to 4:30 p.m.

Utah 78

Utah California FDIC West Virginia 78

Insights on Business

MARCH 5, 2019

Reducing costs but appeasing regulators seems like an oxymoron, yet, many AML compliance and operations leaders are being asked to do just that. The question is, how to do this, while keeping the regulators happy? Even better, regulators have recently begun encouraging the application of these techniques.

Regulation 70

Regulation Compliance Analysis Innovation 70

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. Be aware of existing or emerging risk concerns. increased operational risks.

Compliance 101

Compliance Regulation Community Bank Community 101

FICO

DECEMBER 13, 2019

The most prominent villain for fintech companies is regulation. And so it’s easy to see why a fintech company — believing fully in the virtue of its mission and faced with a litany of illogical and intractable regulations — might just say "F*ck it, we're doing it anyways." Disruption-friendly regulations. Brand protection.

Regulation 52

Regulation Fintech Lending Branding 52

PYMNTS

FEBRUARY 19, 2019

The average merger review time at the Office of the Comptroller of the Currency (OCC) declined between 2016 and 2018, too, reports in The Wall Street Journal said. Reports said Powell noted that looser community bank regulations may help keep branches open. . months in the first half of 2018, from 5.6

Marketing 108

Marketing Community Community Bank Industry 108

Perficient

MARCH 10, 2021

.” SNC (pronounced like the candy bar but without the “ers”) stands for the Shared National Credit Program, which, since 1977, has assessed risk in the largest and most complex credits shared by multiple regulated financial institutions. Loan reviews are completed in the first and third calendar quarters each year.

National 309

National Regulation FDIC Retail 309

PYMNTS

DECEMBER 18, 2018

As well, the form has a long history of transmitting national values and providing cultural, political and even economic education — one need only dig deep into the comic scene during World War II to understand that. We hope this comic book helps illustrate the importance of regulations and compliance professionals around the globe.”.

Compliance 152

Compliance Fraud Security FDIC 152

CFPB Monitor

NOVEMBER 29, 2021

Federal banking regulators have been busy in this space. These pronouncements come closely on the heels of a Report on Stablecoins issued earlier in November by the Agencies and the U.S. Ancillary custody services. Facilitation of customer purchases and sales of crypto-assets.

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

American Banker

AUGUST 31, 2016

The Financial Stability Board said Wednesday in its annual report to the G-20 that progress is being made in implementing post-crisis financial reforms, but that implementation of specific initiatives remains uneven across industrialized nations.

National 32

National Report Industry FDIC 32

Jeff For Banks

MAY 20, 2017

And regulators are getting anxious. Reading between the lines, this bank is likely over the CRE guidance levels, and were probably getting grief from their regulators about it. To remind readers, in 2006 the OCC, Federal Reserve, and FDIC issued joint interagency Guidance on Concentrations in Commercial Real Estate Lending.

Lending 60

Lending Regulation Community Community Bank 60

American Banker

APRIL 20, 2016

regulators have been asking global banks to draw contingency plans for the possibility of Britain's leaving the European Union, according to a Reuters report.

Regulation 28

Regulation Report FDIC Regional 28

American Banker

JANUARY 31, 2020

Nonbanks hold a disproportionate percentage of the worst-rated loans, but banks hold a majority of the market, and risk management safeguards are largely untested, according to an interagency report on shared national credit.

Regulation 36

Regulation Risk Management National Management 36

Abrigo

SEPTEMBER 22, 2015

Earlier this month the Federal Financial Institutions Examinations Council (FFIEC) announced that it plans to lighten the regulatory load for small financial institutions by cutting back on data required for an institution’s quarterly call reports. The article allowed banking executives to weigh in on the subject.

Community Bank 150

Community Bank Community FDIC Survey 150

American Banker

FEBRUARY 23, 2016

On the one hand, the FDIC's Quarterly Banking Profile showed how normal banking is again. But there were also worrying signs, including an increase in charge-offs, higher loan-loss provisions, and fears of the impact from the energy sector.

FDIC 28

FDIC Report Cards Community Bank 28

Abrigo

JUNE 2, 2021

The guidance emphasizes a risk-focused approach to examinations and refocuses the regulators to scope each exam according to the unique financial institution, not to use a one-size-fits-all approach. Delegating tasks such as gathering documentation and creating reports can help spread the burden of exam time. BSA Rules and Regulation.

How To 195

How To Training Compliance Policies 195

Abrigo

APRIL 23, 2015

OCC guidance on Community Bank Supervision states all national banks must receive a full-scope, on-site exam at least annually. During exams, banks and credit unions often receive varying levels of criticism depending on their location, asset size and federal regulator. The bill, spearheaded by Senator Joe Donnelly, D-Ind.,

Community Bank 150

Community Bank Community Survey FDIC 150

American Banker

NOVEMBER 29, 2016

s third-quarter earnings report was stacked with good news: record earnings and lending, fewer troubled loans and higher interest and noninterest income. The Federal Deposit Insurance Corp.'s Yet there was one statistic that is likely to fuel more calls for help from Washington.

FDIC 28

FDIC Report Washington Cards 28

PYMNTS

DECEMBER 14, 2018

Among those agencies, alphabetically speaking: the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Financial Crimes Enforcement Network (FinCEN) and the National Credit Union Administration.

Compliance 148

Compliance Innovation FDIC Examples 148

PYMNTS

JANUARY 9, 2018

According to FIS’s “Performance Against Customer Expectations (PACE)” report, released last July, SMBs are becoming increasingly unhappy with the options they’re offered at large FIs, and it’s causing them to consider switching providers. But small business lending is only one part of the banking puzzle. percent.

Community Bank 131

Community Bank Community Fintech Lending 131

CFPB Monitor

JUNE 15, 2020

On May 20, 2020, the OCC issued a final rule to “strengthen and modernize” its existing Community Reinvestment Act (“CRA”) regulations. The OCC acted alone in issuing the final CRA rule without waiting to achieve consensus with the FDIC, the agency with which the OCC had jointly issued the proposed rule.

Community 60

Community FDIC Lending Examples 60

American Banker

JUNE 1, 2016

s first-quarter report card, there were also signs of trouble for the future, including larger institutions' ongoing exposure to the energy sector. While there were positive signals like loan growth and improved interest margins in the Federal Deposit Insurance Corp.'s

FDIC 28

FDIC Data Cards Report 28