CFPB Monitor

NOVEMBER 10, 2020

The Fed, FDIC, and OCC have issued a “ Statement on Reference Rates for Loans ” that addresses replacement rates for the London Inter-Bank Offered Rate (LIBOR). In June 2020, the CFPB proposed amendments to Regulation Z to address the discontinuation of LIBOR.

Regulation 78

Regulation FDIC New York Lending 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

Abrigo

AUGUST 8, 2021

Independent Loan Review Systems in Banking Banking regulators have outlined expectations for effective, independent loan review and credit risk review. . Takeaway 1 A system for ongoing, independent credit risk review will not look the same from institution to institution. 7 Objectives of credit risk review.

System 195

System Lending Policies Regulation 195

Abrigo

FEBRUARY 12, 2020

Despite expectations for growth, bankers, regulators, investors, and others are watchful about potentially lower returns and credit risks ahead. CRE loan growth at community banks has been outpacing noncommunity banks, both in the quarter and over the last year, according to the FDIC’s latest Quarterly Banking Profile. .

Lending 195

Lending Trends FDIC Survey 195

CFPB Monitor

AUGUST 31, 2021

The OCC, FDIC, and Federal Reserve Board have issued a guide that is intended to assist community banks in conducting due diligence when considering relationships with financial technology (fintech) companies (Guide). Risk management policies, processes, and controls. Information security program and information systems.

Community Bank 78

Community Bank Community Fintech Company 78

Abrigo

SEPTEMBER 5, 2023

As the FDIC said recently: Exceptions to policy should be few in number and properly justified, approved, and tracked. Generally speaking (subject to Regulation B), business loans should be guaranteed by the principals of the borrower. Get details in "A guide to implementing credit policy." Talk to a specialist to learn more.

Policies 195

Policies Lending Risk Management Examples 195

Jeff For Banks

JUNE 2, 2023

Second, this can be accomplished only if the industry does not have too much influence over its regulators and if the regulators have the ability to hire, train, and retain qualified staff. Third, the regulators need adequate financial resources. My lesson learned to the regulators, read your past lessons learned.

FDIC 78

FDIC Community Bank Regulation Lending 78

CFPB Monitor

NOVEMBER 29, 2021

Federal banking regulators have been busy in this space. President’s Working Group on Financial Markets, which delineated perceived risks associated with the increased use of stablecoins and highlighted three concerns: risks to rules governing anti-money laundering (“AML”) compliance, risks to market integrity, and general prudential risks.

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

Independent Banker

SEPTEMBER 25, 2014

Saving money by conducting inside risk management and compliance reviews. As a group, community banks spend substantial funds hiring outside consultants to help with various management functions, and a substantial share of dollars are spent to help oversee their risk management and compliance activities.

Community Bank 70

Community Bank Compliance Risk Management Community 70

Jack Henry

JULY 2, 2014

As an example, the governor of New York State recently directed his Department of Financial Services to conduct targeted cyber security preparedness assessments for all state-chartered banks and other banks “based” in the state. Offload some of the regulatory burden related to security, technology and business continuity/disaster recovery.

Cyber Security 102

Cyber Security Compliance Security FDIC 102

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

Independent Banker

FEBRUARY 24, 2016

Already, community banks have a leg up over digital-platform lenders in funding stability; the new lenders cannot match the security of a traditional depository’s core deposit base. Marketplace-driven digital-platform lenders are also structured so that credit risk is held by the investor funding the deal.

Community Bank 70

Community Bank Community Lending FDIC 70

Independent Banker

DECEMBER 13, 2015

Previewing an easier-to-use format of the FFIEC’s IT security assessment. Bad news: In its original form, it’s awkward to use—and may become part of those dreaded IT security exams. Risk levels have a five-point range. No one knows yet how in-depth the regulators might want those assessments.”. How is it secured?

Tools 70

Tools Community Community Bank Security 70

Independent Banker

NOVEMBER 24, 2015

Previewing an easier-to-use format of the FFIEC’s IT security assessment. Bad news: In its original form, it’s awkward to use—and may become part of those dreaded IT security exams. Risk levels have a five-point range. No one knows yet how in-depth the regulators might want those assessments.”. How is it secured?

Tools 70

Tools Community Community Bank Security 70

South State Correspondent

MARCH 15, 2023

While we wrote about the root cause of the failure of Silicon Valley Bank (SVB) HERE , the lessons of the current banking crisis go beyond interest rate risk management. While interest rate risk caused the most significant impact on value, several other factors contributed to the terminality of each bank that was closed.

social media 195

social media FDIC Branding Management 195

CFPB Monitor

APRIL 28, 2022

As the number and frequency of cyber attacks continue to grow, regulators have attempted to enhance cybersecurity protections via increased and more rigid incident reporting obligations, leading to a constantly shifting regulatory patchwork of varying disclosure and timing obligations. Status/Effective Date.

Report 147

Report FDIC Regulation Security 147

Abrigo

FEBRUARY 8, 2024

Takeaway 2 Client fraud education at financial institutions should include takeaways that explain how to protect themselves from phishing and tips for staying secure online. While fraud detection software and robust security measures are essential, educating clients on fraud prevention is equally important.

Fraud 195

Fraud Resources social media Software 195

Abrigo

NOVEMBER 22, 2021

Consumer lending compliance — like other aspects of enterprise risk management at financial institutions — saw a huge impact from the COVID-19 pandemic. Major consumer loan compliance regulations. Regulation B, implementing the Equal Credit Opportunity Act (ECOA) for fair lending. Pandemic Issues.

Compliance 195

Compliance Lending Risk Management Regulation 195

PYMNTS

OCTOBER 1, 2018

Both the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) have officially ended a two-year investigation of LendingClub, its subsidiary LC Advisors (LCA), its founder and former CEO Renaud Laplanche and its former CFO Carrie Dolan. On Friday (Sept. The DOJ Finding.

Lending 135

Lending Fraud Management San Francisco 135

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

Independent Banker

FEBRUARY 24, 2016

Regulators Luncheon*. So we want our checking accounts to be FDIC insured. IB: Community bankers are the world’s best risk managers. How should they balance innovation with their need to manage risk? Linkner: People think it’s either take no risk or innovate. Roundtable Discussions. Tuesday, March 8.

Community Bank 70

Community Bank Community Innovation Customer Experience 70

Abrigo

SEPTEMBER 14, 2022

In 2011, the CFPB interpreted Section 1071 to mean that obligations for financial institutions to collect, maintain, and submit data “do not arise until the [CFPB] issues implementing regulations and those regulations take effect.” Those implementing regulations were coming. Credit Risk Management. CECL Regulation.

Lending 195

Lending Data Regulation Community 195

Abrigo

DECEMBER 19, 2019

Due to new and emerging technologies, changing regulations, and ever-evolving customer expectations, banks and credit unions across the country are taking an assortment of different strategies to achieve their growth goals in 2020. In 2008, there were 7,061 FDIC-insured commercial banks in the U.S. Lending & Credit Risk.

Lending 195

Lending Fraud Community FDIC 195