CFPB Monitor

SEPTEMBER 23, 2019

I don’t understand why Professor Levitin is attacking the OCC and FDIC for filing an amicus brief in an “obscure small business bankruptcy case to which a bank was not even a party.” If the plaintiffs were to prevail in their lawsuits, the disruption to the banking system and economy would be hard to exaggerate.

FDIC 60

FDIC National System Analysis 60

CFPB Monitor

SEPTEMBER 23, 2019

I don’t understand why Professor Levitan is attacking the OCC and FDIC for filing an amicus brief in an “obscure small business bankruptcy case to which a bank was not even a party.” If the plaintiffs were to prevail in their lawsuits, the disruption to the banking system and economy would be hard to exaggerate.

FDIC 60

FDIC National System Analysis 60

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

Perficient

DECEMBER 27, 2023

Additionally, the recent rule by the OCC, the Federal Reserve, and the FDIC strengthens and modernizes Community Reinvestment Act (CRA) regulations.  Banks need to plan for these changes and begin to implement management processes to address the potential impact of the rule on their systems and resources.

Compliance 221

Compliance FDIC Regulation Fraud 221

CFPB Monitor

MARCH 10, 2022

The Order sets out the following national objectives with respect to digital assets: consumer and investor protection; protection of financial stability and mitigation of systemic risk; mitigation of illicit finance and national security risks; reinforcement of U.S.

FDIC 148

FDIC National cryptocurrency Leadership 148

Abrigo

JULY 22, 2022

Takeaway 2 While these financial products are appealing, the lack of stability and consumer protections surrounding them are a concern for the FDIC. ? . Takeaway 3 Financial institutions should notify the FDIC of crypto-related activity and be familiar with the risks of the cryptocurrency world. . Crypto turbulence.

cryptocurrency 195

cryptocurrency FDIC Regulation Fraud 195

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

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

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

CFPB Monitor

MAY 17, 2021

The scheduled witnesses are: Todd Harper, Chairman, National Credit Union Administration. Randal Quarles, Vice Chairman of Supervision, Board of Governors of the Federal Reserve System. Michael Hsu, Acting Comptroller of the Currency, Office of the Comptroller of the Currency.

Regulation 78

Regulation FDIC National Community 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

Perficient

FEBRUARY 16, 2022

Over the last 90 days, we have let clients know about the federal banking regulators planned cryptocurrency road map , explained what steps national banks need to take to begin crypto activities , provided thoughts on the possibility of a U.S. Although not stated, FDIC insurance of stablecoin deposits would almost have to be required.

New York 294

New York cryptocurrency Security FDIC 294

CFPB Monitor

AUGUST 7, 2020

On July 31, 2020, the Office of the Comptroller of the Currency (OCC) approved the national bank charter application of Varo Bank, N.A., team — the first consumer fintech to receive a national bank charter. As other fintechs mature and grow nationally, the message from the federal banking system is: come on in.

Fintech 78

Fintech FDIC Utah National 78

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).

Regulation 309

Regulation Industry Risk Management Analysis 309

PYMNTS

DECEMBER 10, 2018

And as reported by sites such as American Banker and National Law Review , a bipartisan group of senators is working on a bill that may reform the Bank Secrecy Act, which in turn may raise the threshold for reporting currency transaction reports to $30,000, from the current levels of $10,000. This would be the first boost in 25 years.

Regulation 172

Regulation Fintech FDIC National 172

Jeff For Banks

JUNE 4, 2018

"The FDIC recently has observed instances of liquidity stress at a small number of insured banks." So opened the Summer 2017 FDIC Supervisory Insights issue. The national average rate for a money market account at the end of last year was 0.09%. And so went your exams. What would you do? Prepare for that.

FDIC 60

FDIC System Regulation Conference 60

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

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. Some form of this ratio will likely be applied to the national and regional banks, which means larger community banks will also be judged by this ratio.

social media 195

social media FDIC Branding Management 195

Cisco

JULY 12, 2022

As a key provider of technology for mission-critical financial system infrastructures across the globe, Cisco is held to the highest levels of scrutiny in the financial services regulatory audit chain. These systems are continually being updated with newer and better ones; however, it takes a long time to sunset the legacy technology.

Regulation 71

Regulation FDIC System Software 71

PYMNTS

JANUARY 7, 2019

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. In the U.S., Frankly, recent market movements have not given us any reason to be concerned,” she said. Banks are well capitalized.

Regulation 151

Regulation cryptocurrency National Capital 151

Abrigo

NOVEMBER 22, 2021

Numerous regulatory resources go into detail, including fair lending videos from the FDIC and examination procedures published on the Consumer Financial Protection Bureau’s website. TILA and Reg Z provide a uniform system of disclosures for advertisements and the application process related to the cost of many types of consumer credit.

Compliance 195

Compliance Lending Risk Management Regulation 195

PYMNTS

APRIL 24, 2019

“You really have to go above and beyond to actually earn clients’ trust in the banking system.”. Of course, those more than beat the national average on checking accounts, which is currently at a 0.08 Of course, those more than beat the national average on checking accounts, which is currently at a 0.08

FDIC 108

FDIC New York Community Bank Course 108

Independent Banker

JULY 31, 2022

In partnership with Nymbus, the bank’s custom digital platform is built on a secure cloud-native core banking system with an open API architecture. Costello has also held senior roles at Bank of Florida, City National Bank and Nations Bank during his 30-year banking career.

Florida 91

Florida Community Bank Community FDIC 91

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. Compliance, too, could become a juicer in the near future.

Compliance 152

Compliance Fraud Security Course 152

PYMNTS

MAY 24, 2018

This guidance sends a clear signal [that] bankers can help customers receive short-term loans within the well-regulated, cost-effective banking system.” 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

Independent Banker

JUNE 30, 2022

Using FDIC data for 2021, we calculated a lender score out of 100 for each community bank. American Bank, National Association. Classic Bank, National Association. The First National Bank In Sioux Falls. Dakota Community Bank & Trust, National Association. By Ed Avis. Methodology. Ag Lender Score. Mason City.

Community Bank 172

Community Bank Community National Philadelphia 172

CFPB Monitor

NOVEMBER 29, 2021

In the Joint Statement, the Agencies state that they “recognize that the merging crypto-asset sector presents potential opportunities and risks for banking organizations, their customers, and the overall financial system.”

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

CFPB Monitor

SEPTEMBER 9, 2020

Ballard Spahr LLP has submitted a comment letter to the OCC in support of its proposed rule , “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”). Three virtually identical Federal Interest Statutes govern interest that may be charged by Banks: Section 85 of the National Bank Act (“NBA”), 12 U.S.C. §

FDIC 78

FDIC National South Dakota Lending 78

PYMNTS

FEBRUARY 19, 2019

Senator Elizabeth Warren (D-MA) recently sent a letter to Powell raising this concern, noting that the Fed’s “anemic scrutiny of applications for mergers and acquisitions [M&A] raises concerns that [it] may oversee a wave of bank consolidation to the detriment of consumers and the financial system.”

Marketing 108

Marketing Community Community Bank Industry 108

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. The bill, spearheaded by Senator Joe Donnelly, D-Ind., and Senator Pat Toomey, R-PA., would make more banks eligible for an 18-month exam cycle as opposed to the norm of a 12-month schedule.

Community Bank 150

Community Bank Community Survey FDIC 150

CFPB Monitor

MAY 7, 2020

In 2019, the Bureau referred three ECOA matters to the DOJ, with such matters involving (1) a pattern or practice of redlining in mortgage origination based on race, (2) discrimination based on public assistance in mortgage origination, and (3) discrimination based on race and national origin in auto origination. Student loan origination.

Lending 78

Lending Report FDIC Policies 78

CFPB Monitor

DECEMBER 7, 2022

Lisa Rice, President and CEO, National Fair Housing Alliance; Mr. Marc H. Morial, President and CEO, National Urban League; The Honorable Byron Donalds (R-FL), United States House of Representatives; Mr. Devon Westhill, President and General Counsel, Center for Equal Opportunity; and Ms. The witnesses included: Ms.

Community 78

Community Compliance Industry National 78

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 ).

FDIC 60

FDIC Report Policies Regulation 60

CFPB Monitor

JUNE 18, 2020

In his remarks, Acting Comptroller Brooks indicated that addressing fintech and its effect on the banking system is a top priority for him.

FDIC 78

FDIC Fintech Policies Online 78

CFPB Monitor

MARCH 30, 2020

Section 4008 of the CARES Act authorizes the Federal Deposit Insurance Corporation (FDIC) to establish a debt guarantee program to guarantee the debt of solvent insured depository institutions and depository institution holding companies. Section 4008 – Debt Guaranty Authority. Section 4009 – Temporary Government In The Sunshine Act Relief.

Regulation 122

Regulation United States Community Bank National 122

Jeff For Banks

JUNE 20, 2017

The banking system is stable, which is critical to national and state economies. According to the FDIC , disparate impact occurs when a policy or practice applied equally to all applicants has a disproportionate adverse impact on applicants in a protected group. All have benefited. Depositor money is safe. Also critical.

Data 60

Data FDIC Regulation Washington 60

PYMNTS

JANUARY 9, 2018

While marketplace lending platforms and alternative finance players first surfaced to compete with traditional financial institutions (FIs), many large banks have now realized that collaborating with these companies is the way to better service SMBs — and without the added investment in developing proprietary systems.

Community Bank 131

Community Bank Community Fintech Lending 131