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

NOVEMBER 21, 2019

The OCC and FDIC issued proposed rules this week intended to eliminate the uncertainty created by the Second Circuit’s decision in Madden v. Comments on the FDIC’s proposal must be submitted no later than 60 days after the date the proposal is published in the Federal Register. Midland Funding. 85 [or 12 U.S.C

FDIC 78

FDIC National Lending Policies 78

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

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. Real Estate Settlement Procedures Act (“RESPA”) Section 8 Violations.

FDIC 60

FDIC Compliance Regulation Training 60

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

Abrigo

OCTOBER 28, 2022

Takeaway 3 Successful, high-performing institutions can take several actions now to ensure policies, people, and processes are ready. This principle was reaffirmed in the recently proposed policy on CRE loan accommodations and workouts. “[F] Signs of increased activity ahead.

Management 195

Management Risk Management Policies Lending 195

Payments Source

DECEMBER 20, 2018

The Office of the Comptroller of the Currency has gotten the ball rolling for financial technology firms trying to operate a national platform, but the FDIC and Federal Reserve should act to remove other policy roadblocks.

FDIC 62

FDIC Regulation Fintech Policies 62

Abrigo

SEPTEMBER 16, 2019

“These insights have the potential to inform the market and policy makers on the overall health of the economy, opportunities, and risk.”. Where do you anticipate Federal Reserve monetary policy will be in 12 months from now? Is the current period a good time to expand your operations? Grow your loan portfolio. Learn More.

Community Bank 150

Community Bank Community Policies Survey 150

Abrigo

MAY 19, 2023

The complexity and scope of a loan review system will vary based on an institution’s size, type of operations, and management practices. Responsibilities may include assigning initial credit grades, ensuring grade changes are made when needed, or compiling the information necessary to assess the appropriateness of the ALLL.

System 195

System Regulation How To Lending 195

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.

Regulation 349

Regulation National System Industry 349

CFPB Monitor

DECEMBER 2, 2021

As anticipated, the OCC, Federal Reserve Board, and FDIC recently approved and released the Final Rule Requiring Computer-Security Incident Notification (“Final Rule”). operations, including associated services, functions, and support, the failure or discontinuance of which would pose a threat to the financial stability of the United States.

Regulation 78

Regulation Report FDIC Security 78

Jeff For Banks

OCTOBER 5, 2020

ESB's President was a dominant official with significant control over bank operations and limited oversight by the Board of Directors (Board). When the TDB shut them down and the FDIC investigators came in, they had to occupy the church next door because of the smell from the fire. The FDIC issued this guidance in June 2011.

FDIC 78

FDIC Fort Worth Dallas Texas 78

CFPB Monitor

JULY 7, 2022

Less than a year in, our approach is already paying dividends, with significant changes in bank overdraft policies and major reforms in the reporting of medical debt to consumer credit reports. The second letter takes aim at four other CFPB actions that the Chamber calls “imprudent and unlawful.”

Groups 145

Groups West Virginia Policies Virginia 145

Abrigo

NOVEMBER 3, 2014

According to Eric Fischer , senior fellow at the Boston University Center for Finance, Law & Policy, there is no reason why institutions of all sizes shouldn’t be held to similar standards.

Meeting 170

Meeting Policies Training Exercises 170

PYMNTS

OCTOBER 31, 2016

The OCC, according to WSJ , noted the compromise hasn’t “adversely affected” the agency’s internal operations. which has prompted lawmakers to spend part of 2016 looking into shortfalls in FDIC cybersecurity policies. The former employee was identified as a retiree, noted the report.

Data 100

Data FDIC Policies Report 100

CFPB Monitor

JANUARY 25, 2021

For a rule that has been issued or published in the Federal Register but has not yet become effective, a department or agency head should consider postponing the rule’s effective date for 60 days from January 20 for the purpose of reviewing any questions of fact, law, and policy raised by the rule.

Policies 78

Policies FDIC Leadership Meeting 78

Abrigo

MAY 5, 2022

Podcasts for Bank & Credit Union Execs & Staff Are Plentiful; Here Are 10 Good Ones These banking podcasts discuss current events, strategic and policy issues, competition, digitalization advice, and more. And all release a new episode at least monthly. Would you like other articles like this in your inbox? Stay up to Date.

Community 195

Community Lending Maine Resources 195

Abrigo

JULY 10, 2023

As we harness the power of AI to enhance operational efficiency, detect patterns, and optimize decision-making processes, financial institutions must remain vigilant. Best practices Addressing AI fraud in your policies AI fraud can be particularly tricky because it impacts how financial institutions verify customers’ identities.

Fraud 150

Fraud How To social media Security 150

CFPB Monitor

NOVEMBER 24, 2020

The OCC observes that, in denying services, banks “are often reacting to pressure from advocates from across the political spectrum whose policy objectives are served when banks deny certain categories of customers access to financial services.”

Operations 78

Operations Analysis Industry Policies 78

Jeff For Banks

JANUARY 12, 2019

Then, as now, my working theory is that the best boards are ones that approve strategy and hold management accountable for achieving it, and effectively dispatch their duties as described by the FDIC above. Seldom answered. Each board member is an ingredient in the effectiveness of the entire board.

Community Bank 60

Community Bank Community FDIC Dallas 60

Jeff For Banks

JANUARY 12, 2019

Then, as now, my working theory is that the best boards are ones that approve strategy and hold management accountable for achieving it, and effectively dispatch their duties as described by the FDIC above. Seldom answered. Each board member is an ingredient in the effectiveness of the entire board.

Community Bank 60

Community Bank Community FDIC Dallas 60

Abrigo

JUNE 4, 2019

The Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Board of Governors of the Federal Reserve System (FRB), and the Office of the Comptroller of the Currency (OCC) have put out a joint statement addressing many frequently asked questions about the new standard.

Policies 186

Policies Capital Report FDIC 186

Abrigo

NOVEMBER 9, 2022

How has CECL implementation impacted their operations and reserves for credit losses? CECL's impact on operations. Prepare documentation—policies and procedures—as you go. Banks regulated by the Federal Reserve, the OCC, or the FDIC made up the bulk of institutions represented by survey-takers (73%). Process changes.

Survey 195

Survey Software Resources Meeting 195

CFPB Monitor

SEPTEMBER 9, 2020

1831d(a) (“Section 27(a)”), which governs the interest charges of state-chartered FDIC-insured banks. In our comment letter, we argue that the Proposed Rule and the Madden -fix rule properly effectuate the policies underlying the Federal Interest Statutes.

FDIC 78

FDIC National South Dakota Lending 78

Jeff For Banks

MARCH 5, 2021

Knowing this, very large financial institutions operate branches where they can have greater scale to drive greater profitability, which frequently excludes LMI neighborhoods, creating what is termed "bank deserts." The operating cost is largely attributable to the distribution through the branch network and regulation.

Regulation 78

Regulation Indiana Charlotte Community Bank 78

CFPB Monitor

NOVEMBER 29, 2021

The Federal Reserve Board, FDIC, and OCC (collectively, the “Agencies”) issued on November 23 a short Joint Statement on Crypto-Asset Policy Sprint Initiative and Next Steps (“Joint Statement”), which announced – without further concrete detail – that they had assembled a “crypto asset roadmap” in order to provide greater clarity in 2022 to banks on (..)

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

Independent Banker

SEPTEMBER 25, 2014

Grovetta Gardineer, a deputy comptroller for the Office of the Comptroller of the Currency, points out that community banks are best placed to understand their own individual risk tolerances and overall operational complexity. 35% for developing compliance policies. 88% for some form of compliance help. 73% for compliance audits.

Community Bank 70

Community Bank Compliance Risk Management Community 70

Jeff For Banks

MAY 16, 2015

Other business such as approving policy changes, large/exception credits requiring Board approval as per policy. Aside from including a whole policy (changes are blacklined so Board member doesn't have to search for them), or a credit package, I can't see why a Board package has to be more than 100 pages.

Report 60

Report Policies Risk Management Meeting 60

PYMNTS

AUGUST 30, 2018

and nationwide about whether cashless operation is discriminatory. When you put out a policy that says that a third of the population is simply unable to participate in your business model, you’re putting your hand up and saying, ‘I don’t want you here,’” Grosso told WAMU. About 30 percent of the population of Washington D.C.

Washington 100

Washington FDIC Security Cards 100

FICO

OCTOBER 4, 2016

Adopted in 1977, the CRA is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. After a thorough assessment of the institution, bank examiners assign a CRA rating and issue a public performance evaluation.

Lending 74

Lending Data Community FDIC 74

Jack Henry

APRIL 30, 2014

One such attack by the group Unlimited Operations was able to net over $40 million. The FDIC provides a listing of resources that can be used to better identify and mitigate potential cyber-risks. The FDIC encourages subscribing to these various groups to ensure that you receive regular security alerts, tips, and other updates.

Fraud 88

Fraud Cyber Security ATM FDIC 88

Jeff For Banks

NOVEMBER 6, 2011

To resuscitate the economy, the Fed is doing everything possible to keep interest rates low through monetary policy. First dropping the Fed Funds rate to near zero, and most recently with Operation Twist designed to guide long-term rates even lower. FDIC insurance costs, on average, are 12 basis points on deposit balances.

Community 67

Community New York FDIC Philadelphia 67

Independent Banker

DECEMBER 13, 2015

The bank’s assistant vice president for cybersecurity and data security policy, he says the tool “gives you another window to look at what you have, to qualify and quantify your risk.”. These agencies had input: the Federal Reserve, the Office of the Comptroller of the Currency, FDIC and the National Credit Union Administration.

Tools 70

Tools Community Community Bank Security 70

Independent Banker

NOVEMBER 24, 2015

The bank’s assistant vice president for cybersecurity and data security policy, he says the tool “gives you another window to look at what you have, to qualify and quantify your risk.”. These agencies had input: the Federal Reserve, the Office of the Comptroller of the Currency, FDIC and the National Credit Union Administration.

Tools 70

Tools Community Community Bank Security 70

CFPB Monitor

NOVEMBER 19, 2018

Thirteen Republican Senators have sent a letter to FDIC Chairman Jelena McWilliams urging the FDIC to take action to ensure that lawful businesses are no longer at risk of adverse financial consequences as a result of “Operation Choke Point, and its associated culture and Choke Point-like regulatory actions.”.

FDIC 68

FDIC Operations Policies Regulation 68

Jeff For Banks

JUNE 1, 2015

The FDIC Pocket Guide for Directors identifies the Board's responsibilities as: - Select and retain competent management. Monitor operations to ensure that they are controlled adequately and are in compliance with law and policies. What are we trying to accomplish with Board compensation?

FDIC 60

FDIC Industry Groups Management 60

CFPB Monitor

APRIL 6, 2021

In its Consumer Compliance Supervisory Highlights , the FDIC describes several matters involving fair lending that were identified during consumer compliance examinations conducted in 2020 and referred to the DOJ because the FDIC concluded that it had reason to believe that the creditor had engaged in a pattern or practice of discrimination.

FDIC 78

FDIC Compliance Lending Policies 78