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. Additionally, the recent rule by the OCC, the Federal Reserve, and the FDIC strengthens and modernizes Community Reinvestment Act (CRA) regulations.

Compliance 221

Compliance FDIC Regulation Fraud 221

CFPB Monitor

MAY 22, 2020

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. Data collection, recordkeeping, and reporting.

FDIC 78

FDIC Lending Retail Compliance 78

CFPB Monitor

AUGUST 13, 2018

McWilliams stated that the FDIC’s top priorities included: (1) reducing regulatory burden on community banks; (2) increasing the speed with which the FDIC reviews charter and deposit insurance applications; and (3) assisting banks to introduce new financial products that serve underserved communities.

FDIC 68

FDIC Community Lending Guidelines 68

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

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

South State Correspondent

JANUARY 10, 2024

This article will discuss how national, regional, and community banks may use loan hedging programs in 2024 to face earnings challenges. We estimate that approximately another 500 use hedging programs that keep the derivative off balance sheet (thus not reportable by FDIC). Hedging Adoption As of Q3/23, there were just over 4.5k

Community Bank 195

Community Bank Community National Regional 195

CFPB Monitor

SEPTEMBER 12, 2019

The OCC and FDIC have filed a joint amicus brief in a Colorado federal district court arguing that the court should affirm the decision of a bankruptcy court holding that a non-bank loan assignee could charge the same interest rate the bank assignor could charge under Section 27(a) of the Federal Deposit Insurance Act, 12 U.S.C.

Colorado 60

Colorado FDIC Wisconsin National 60

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 threshold for suspicious activity reports may get a boost to $10,000 from $5,000. This would be the first boost in 25 years. This would be the first boost in 25 years.

Regulation 172

Regulation Fintech FDIC National 172

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. Data collection, recordkeeping, and reporting.

FDIC 78

FDIC Regulation Community Retail 78

PYMNTS

OCTOBER 24, 2019

But Federal Deposit Insurance Corporation (FDIC) coverage — which protects deposits — proved a sticking point this week. As reported , the U.S. 21) that the OCC cannot in fact issue a charter for non-bank enterprises (a segment that included FinTechs) that are not able to get FDIC backing. Regulation, Law and Going Forward.

Fintech 101

Fintech FDIC New York National 101

Perficient

APRIL 2, 2021

The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the. Office of the Comptroller of the Currency (OCC). Cybersecurity.

Regulation 309

Regulation Industry Risk Management Analysis 309

PYMNTS

FEBRUARY 8, 2019

In a reported phishing campaign that began last month, Bank Secrecy Act (BSA) officials at credit unions in the U.S. The emails were reportedly only sent to certain anti-money laundering (AML) contacts, leading some to question if the National Credit Union Administration (NCUA)’s non-public data had been accessed, Krebs On Security reported.

FDIC 134

FDIC Community Community Bank National 134

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

CFPB Monitor

JANUARY 19, 2015

Two reports recently issued by the Offices of Inspector General at the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) may provide some insight on the impending final standards. ( FDIC Report ; OCC Report ). Final standards could be issued in the near future.

FDIC 60

FDIC Report Policies Regulation 60

PYMNTS

AUGUST 5, 2020

The Zibo tools are meant to help save time and implement new tools like Federal Deposit Insurance Corporation (FDIC)-insured business checking accounts, automated rent collection, online bill pay and expense management to help streamline tax preparation. Right now, less than 20 percent of U.S. tenants do so, according to the release.

Payments 141

Payments FDIC Tools Taxes 141

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. This blog post contains a summary of those efforts.

Regulation 78

Regulation FDIC Community Lending 78

Abrigo

MARCH 25, 2020

Regulators also announced other guidance tied to reporting and risk-based capital rules. The distinction is important because labeling modifications as TDRs triggers additional accounting and reporting requirements for most financial institutions. Past-due reporting under deferral programs. Modifications not automatically TDRs.

FDIC 150

FDIC Regulation Exercises Community 150

PYMNTS

JANUARY 7, 2019

In Ireland, reported CryptoGlobe , the Irish cabinet has approved legislation that will bring more regulation to the sector. Against that backdrop, there are, at present, no plans for the nation to issue a state-backed cryptocurrency, as the government has pointed toward continuing concerns over money laundering and cyber risks.

Regulation 151

Regulation cryptocurrency National Capital 151

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 31

National Report Industry FDIC 31

PYMNTS

JULY 15, 2019

reports on jobs figures, the data excludes professions in the farming and agriculture industry. Analysts note that today, the percentage of professionals working in the agricultural sector remains so low that including them in national jobs calculations would not have a statistically relevant effect on overall analysis. “As

FDIC 142

FDIC Analysis Lending Data 142

PYMNTS

OCTOBER 4, 2019

CNBC reports that the savings account won’t have any fees and will not require a minimum balance to open. percent APY, which is about 22 times higher than the average of national accounts. The bank will handle the funds and will offer FDIC protection up to $5 million. It offers a savings rate of 2.03

West Virginia 132

West Virginia Virginia FDIC Taxes 132

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

SEPTEMBER 16, 2019

Dunkleberg is the former dean of Temple’s School of Business and Management and has served as the Chief Economist for the National Federation of Independent Business since 1971. The survey for the inaugural index included 512 FDIC banks responding from early in the second quarter through July 5. Asset/Liability. Credit Risk.

Community Bank 150

Community Bank Community Policies Survey 150

Abrigo

MARCH 9, 2015

The latest FDIC Quarterly Banking Profile was just released and the industry continues to be led by the nation’s community banks. Seven of the ten largest banks reported lower earnings, but overall, 64 percent of banks reported an increase in 2014. Community banks’ net interest margin (NIM) was 3.63

Community Bank 150

Community Bank Community FDIC Industry 150

Abrigo

MARCH 9, 2015

The latest FDIC Quarterly Banking Profile was just released and the industry continues to be led by the nation’s community banks. Seven of the ten largest banks reported lower earnings, but overall, 64 percent of banks reported an increase in 2014. Community banks’ net interest margin (NIM) was 3.63

Community Bank 150

Community Bank Community FDIC Industry 150

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

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. . making it one of the nation’s first new community banks in years.

Marketing 108

Marketing Community Community Bank Industry 108

PYMNTS

MAY 24, 2018

The guidance did not change any regulation, but clarified the regulator’s stance on the loans, Reuters reported. I applaud Comptroller [Joseph] Otting’s move to encourage national banks and federal savings associations to offer short-term, small-dollar installment loans,” he said.

FDIC 100

FDIC Lending Regulation Study 100

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

MyBankTracker

AUGUST 6, 2020

Sources: FDIC. 2017 FDIC National Survey of Unbanked and Underbanked Households. Report: Hidden Fees Are #1 Consumer Complaint. The average monthly maintenance fees for checking accounts are based on the most basic offerings from Bank of America, Chase, Wells Fargo, Citibank, and U.S. 2020, March). 2019, June).

Survey 52

Survey FDIC United States Study 52

PYMNTS

JULY 25, 2018

financial services firm, on Wednesday (July 25) sold its entire stake in 321 Crédito, a Portuguese consumer finance lender, to Banco CTT, the bank run by Portugal’s privatized national postal service. According to a report in Financial Times , the deal was worth more than €140m. Cabot Square Capital, a U.K. trillion U.S.

Capital 108

Capital FDIC Resources National 108

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

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

PYMNTS

FEBRUARY 15, 2019

As reported, the U.S. 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). Beyond individual company news, Newsweek reported that, per the U.S.

Compliance 122

Compliance Fraud United States FDIC 122

PYMNTS

JULY 21, 2019

The South Dakota Trust Charter allows companies to operate on a national level so you can serve clients from every state. And surprisingly, South Dakota is one of the largest holders of institutional assets in the country, more than $3 trillion, according to the FDIC — three times the size of New York, followed only by Ohio.”.

South Dakota 134

South Dakota Bitcoin cryptocurrency Ohio 134

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. culture, in that sweet spot where “low” and “high” art meet. One reason?

Compliance 152

Compliance Fraud Security Course 152

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. Bankers that participate in the survey will receive a comprehensive report detailing advice from their peers this summer. The bill, spearheaded by Senator Joe Donnelly, D-Ind., and Senator Pat Toomey, R-PA.,

Community Bank 150

Community Bank Community Survey FDIC 150