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”). Covered banking organizations are required to provide notice to their relevant regulator in the event that a “Notification Incident” occurs.

Regulation 78

Regulation Report FDIC Security 78

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. Regulation E – Mistakes Made in the Consumer Liability/Error Resolution Process.

FDIC 60

FDIC Compliance Regulation Training 60

Abrigo

OCTOBER 28, 2022

Takeaway 1 Signs point to increased loan modifications and loan workouts, and regulators have urged financial institutions to work prudently with borrowers. . Takeaway 3 Successful, high-performing institutions can take several actions now to ensure policies, people, and processes are ready. CRE loan accommodations.

Management 195

Management Risk Management Policies Lending 195

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

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

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

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. However, the banking industry doesn’t like that one bit. “We

Regulation 349

Regulation National System Industry 349

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

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

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

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). She hid them from the Board and regulators with assistance from unnamed co-conspirators." She hid them from the Board and regulators with assistance from unnamed co-conspirators."

FDIC 78

FDIC Fort Worth Dallas Texas 78

Abrigo

NOVEMBER 3, 2014

Those regulated by the OCC and above $50 billion in assets are expected to use the results to detect opportunities to improve and implement specific changes that can be tracked, measured and evaluated. Access to management and regulators – Is there a need for increased interactions? Or, do they need more context and less data?

Meeting 170

Meeting Policies Training Exercises 170

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

Compliance 101

Compliance Regulation Community Bank Community 101

PYMNTS

OCTOBER 31, 2016

According to the report, the banking regulator said the data breach had to do with a former employee at the agency removing more than 10,000 records without receiving authorization to do so. The OCC, according to WSJ , noted the compromise hasn’t “adversely affected” the agency’s internal operations. The incident occurred in Nov.

Data 100

Data FDIC Policies Report 100

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." Another challenge is imposed by the very government that tries to assist LMI households: regulation.

Regulation 78

Regulation Indiana Charlotte Community Bank 78

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. Use a software tool [and] ensure your auditors and regulators are in the loop on progress.” CECL Regulation. Process changes. Stress Testing.

Survey 195

Survey Software Resources Meeting 195

CFPB Monitor

NOVEMBER 29, 2021

Federal banking regulators have been busy in this space. Accordingly, “it is important that [the Agencies] provide coordinated and timely clarity where appropriate to promote safety and soundness, consumer protection, and compliance with applicable laws and regulations, including [AML] and illicit finance statute and rules.”

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

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

Independent Banker

SEPTEMBER 25, 2014

Federal regulators say, not always. And there are valid circumstances for engaging objective, outside experts to audit and review their risk management and compliance activities, but placating regulators is not one of them. 36% for interpreting regulations. 35% for developing compliance policies. When to in-source.

Community Bank 70

Community Bank Compliance Risk Management Community 70

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. 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. Each board member is an ingredient in the effectiveness of the entire board.

Community Bank 60

Community Bank Community FDIC Dallas 60

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. The OCC clearly has the authority to adopt the Proposed Rule. 12 U.S.C. §

FDIC 78

FDIC National South Dakota Lending 78

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

Jeff For Banks

MAY 16, 2015

The same reason regulators focus on the little things. Other business such as approving policy changes, large/exception credits requiring Board approval as per policy. Today, Board reports closely resemble War and Peace. You mean you didn't see it? That's on you, fella. Compliance and audit reports, not included in 5 above 7.

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

Independent Banker

NOVEMBER 25, 2015

One of the biggest problems with FinTech companies is that many of them exploit existing banking infrastructure—including debit, credit and ACH networks—and access traditional checking and saving accounts, yet face minimal regulation when it comes to data security and privacy. Siphoning customers.

Community Bank 70

Community Bank Community Analytics Lending 70

CFPB Monitor

MAY 6, 2019

The OCC also argued that the NYDFS’s claims were untimely because it can no longer challenge the OCC’s long-standing regulation (12 C.F.R. The OCC argued that the NYDFS’ complaint failed to state an APA claim because this regulation is entitled to deference under the U.S. e)(1)) interpreting the term “business of banking” in the NBA.

Fintech 68

Fintech New York National Regulation 68

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

JULY 12, 2022

However, regulators themselves have been criticized for encouraging de-risking by driving highly risk-adverse decisions by FIs, who are unwilling to take the chance and assume the compliance costs of doing business with specific customers who may in fact be “legitimate,” but whose risk profile is deemed to be high due to their group affiliation.

Regulation 78

Regulation ATM Operations Policies 78

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

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. The OCC has rescinded that bulletin and issued a new bulletin (2020-25) that reflects the new interagency guidance.

FDIC 78

FDIC Policies Lending Guidelines 78

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. Major consumer loan compliance regulations. You might also like this webinar, "Consumer Lending 101.".

Compliance 195

Compliance Lending Risk Management Regulation 195

CFPB Monitor

MARCH 10, 2022

Such other agencies include the CFPB, FTC, Federal Reserve Board, FDIC, and OCC. Through this group, the FLEC will work to develop consumer-friendly, trustworthy and consistent educational materials, tools and outreach to help consumers make informed choices about digital assets.”

FDIC 148

FDIC National cryptocurrency Leadership 148

Abrigo

SEPTEMBER 14, 2022

You might also like this webinar: "Fortify Your Loan Policy to Effectively Manage Credit Risk." Takeaway 3 Financial institutions should consider the impact of this rule and prepare for changes to their business operations. Those implementing regulations were coming. Proposed Rule. Commenters have until Nov.

Lending 195

Lending Data Regulation Community 195

CFPB Monitor

NOVEMBER 22, 2022

In particular, the report’s recommendations deserve attention because they are likely to influence future actions by the federal banking regulators and the CFPB. (The The report is also worthwhile reading for its discussion of the role of fintechs and other non-banks in providing consumer financial services and how that role has evolved.).

Fintech 78

Fintech Report Data Lending 78

Jeff For Banks

MARCH 29, 2014

We serve the dental and other health professional industries through a centralized loan and deposit platform that operates out of our main office in Dallas, Texas and serves clients in 30 states. We serve our local geographic market which is the Dallas - Fort Worth metropolitan area. Texas Capital Bancshares, Inc. Prosperity Bancshares, Inc.

Strategy 102

Strategy Texas San Antonio Fort Worth 102