PYMNTS

SEPTEMBER 30, 2020

The House committee held a hearing on the idea after Acting Comptroller of the Currency Brian Brooks in July proposed a new special purpose national banking charter for payments companies. That last measure aims to ensure that banks lend money and provide banking services to underserved and minority consumers.

Regulation 349

Regulation National System Industry 349

PYMNTS

FEBRUARY 25, 2019

The Conference of State Bank Supervisors (CSBS) said earlier this month that it had put in place a set of action items to standardize the national experience of FinTechs and non-bank entities. We have formed a working group of state regulators to develop the model. Our FinTech industry advisory panel did include a few community banks.

Regulation 147

Regulation Fintech Community Bank Community 147

PYMNTS

MARCH 19, 2019

The country’s regulators have gotten tough on the shadow banking market in recent years. However, while regulators are happy to see shadow lending fade, the sector’s main borrowers — private companies — are feeling the strain. China’s $9.1 As a result, outstanding loans in the sector fell to ¥61.3 trillion ($9.1

Lending 100

Lending Regulation Maine Regional 100

PYMNTS

JULY 5, 2019

The Bank of Japan ( BOJ ), Japan’s central bank, has joined in with other regulators and officials around the world in its worry over Facebook’s proposed cryptocurrency Libra , according to reports. . The bank is worried that the currency will be difficult to regulate and that it could potentially harm the existing financial system. “It

Regulation 102

Regulation cryptocurrency United States Policies 102

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.

Regulation 172

Regulation Fintech FDIC National 172

Abrigo

MAY 19, 2017

With the National Credit Union Administration issuing its final member business lending (MBL) ruling as of January 2017, credit unions are seeing increased flexibility in their lending limits. Who is responsible for collecting key documents, and will a system be used to track tickler documents and member compliance?

Lending 150

Lending Analysis Knowledge Base System 150

PYMNTS

AUGUST 30, 2018

29) that the government’s efforts to spur small business lending by pumping money into the financial services market has yielded only modest success. The publication pointed to the government’s conflicting policy of stricter lending rules as one reason why efforts to boost small business loan volumes hasn’t taken off.

Policies 100

Policies Lending Regulation Community 100

CFPB Monitor

SEPTEMBER 22, 2022

The public comment period for the notice of proposed rulemaking (“NPRM”) regarding the Motor Vehicle Dealers Trade Regulation Rule (the “Rule”) closed on September 15, 2022 after the FTC declined in August to extend it. The comments from AFSA, CBA, and NADA were among the close to 27,000 comments on the proposed Rule received by the FTC.

Regulation 148

Regulation Groups Customer Experience Retail 148

South State Correspondent

APRIL 30, 2024

Meet Competitive Pressures : National and larger regional banks are specifically targeting better borrowers for five, seven, ten-year fixed-rate loans. Lending Discipline : Sensible pricing methodology is part of a loan hedging program, and some hedge providers also offer a loan pricing model.

Community Bank 195

Community Bank FDIC Community National 195

South State Correspondent

APRIL 30, 2024

Meet Competitive Pressures : National and larger regional banks are specifically targeting better borrowers for five, seven, ten-year fixed-rate loans. Lending Discipline : Sensible pricing methodology is part of a loan hedging program, and some hedge providers also offer a loan pricing model.

Community Bank 195

Community Bank FDIC Community National 195

Abrigo

JULY 10, 2020

Both advisor ies further remind institutions that detecting and reporting fraud and other illicit activity is critical to our national security and protecting innocent people from harm. Lending & Credit Risk. Member Business Lending. SBA Lending. Ag Lending. CRE Lending. Lending & Credit Risk.

Fraud 195

Fraud Lending Software Analytics 195

PYMNTS

FEBRUARY 27, 2017

Guo Shuqing, the former head stock market regulator in China, has been appointed as chairman of the China Banking Regulatory Commission, replacing Shang Fulin, who was forced to retire after reaching the mandatory retirement age of 65. He arrived at the China Banking Regulatory Commission on Friday (Feb.

System 100

System New York Maine Regulation 100

Abrigo

DECEMBER 18, 2023

Critical capital Should CRE lending be off the table? Recent headlines may lead bankers to believe that shunning commercial real estate lending is the safest path to limit or avoid credit risk, given stresses on CRE and regulatory concerns. Learn more about effective risk rating systems in this on-demand webinar.

Risk Management 221

Risk Management Management Lending Capital 221

PYMNTS

AUGUST 14, 2018

Changes may soon be coming to the Military Lending Act (MLA), a piece of legislation designed to prevent military service members from getting swept up in deceptive or unfair lending practices. It will go from a proactive system to something that is completely reactive,” Peterson said. New Lending Rules .

Lending 100

Lending Regulation Kentucky Utah 100

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

PYMNTS

MAY 24, 2018

Backers of the proposal argue that by shaking up the traditional financial system, it can ensure the Swiss National Bank (SNB) is the only one that produces new money in Switzerland, removing fractional reserve banking, which Reuters said is common across the globe. The Swiss National Bank is against the initiative.

Lending 103

Lending National System Policies 103

PYMNTS

JULY 16, 2018

New rules may loom for technology providers pertaining to privacy — on a national level. In another nod toward privacy, Microsoft wants to see government regulation of facial recognition technology. the European Banking Authority (EBA) cited failings that are “systemic” in nature in Malta. Looking beyond the U.S.,

National 100

National California Regulation United States 100

CFPB Monitor

MARCH 30, 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes the following key provisions that affect financial institutions and regulation of financial institutions: Section 4003 – Emergency Relief and Taxpayer Provisions. All such programs shall terminate not later than December 31, 2020.

Regulation 122

Regulation United States Community Bank National 122

PYMNTS

MAY 25, 2016

regulators suggesting that lenders do not finance corporations with an already hefty debt load. Reports by Financial Times said on Tuesday (May 24) that Wells Fargo vowed to continue to lend to businesses that have significant outstanding debt against the guidance of U.S. financial regulators. “We have certain processes.

Lending 100

Lending Regulation America US 100

PYMNTS

MAY 22, 2018

All four of Australia’s Big Four lenders — Westpac, Australia and New Zealand Banking Group, Commonwealth Bank of Australia and National Australia Bank — admitted to misconduct related to small business (SMB) lending practices as the nation’s inquiry into industry wrongdoings continues.

Lending 100

Lending National Groups Industry 100

Abrigo

JULY 16, 2021

financial system. Takeaway 2 Regulations haven't been written, but there are steps community financial institutions can take now to prepare. financial system. While these are general today, the AMLA requires that regulations be written around each Priority, as appropriate. financial system. How to prepare.

Community 195

Community Regulation Training Policies 195

CFPB Monitor

AUGUST 20, 2020

federal and state financial institution regulators have taken meaningful, proactive steps to acknowledge financial inequality issues, reach out to traditionally underserved populations to expand access to credit, and further protect consumers from discrimination. This blog post contains a summary of those efforts.

Regulation 78

Regulation FDIC Community Lending 78

Abrigo

APRIL 6, 2022

Takeaway 2 The change includes an obligation to inform regulators of a “notification incident” ASAP and no later than 36 hours after a reportable event occurs. Background Historically, the federal banking regulators required financial institutions to file two types of reports for certain cybersecurity incidents.

Security 195

Security Regulation District of Columbia United States 195

PYMNTS

AUGUST 4, 2016

The alternative lending space is crowded — oversaturated, some may say — and in the U.S. regulation is likely headed its way. marketplace lender OnDeck, alternative lending is likely to be mainstream in Australia as soon as the end of the decade. “We are not concerned about regulation,” Bertoli stated.”If

Lending 100

Lending Regulation Data Payments 100

PYMNTS

JUNE 17, 2019

The dispute over the Office of the Comptroller of the Currency ‘s (OCC’s) national bank charter, which became available to FinTech firms last year, has reportedly caused technology conglomerates to shy away from a tool that aims to provide nonbank firms with a more streamlined way to operate on a national level.

Google 142

Google National Fintech Regulation 142

CFPB Monitor

JULY 8, 2019

The CFPB’s annual fair lending report covering its 2018 activities was published in today’s Federal Register. In addition to discussing the symposium and Data Point report in the section on “Access to Credit,” the new fair lending report discusses conducting supervisory reviews of alternative credit scoring models.

Lending 60

Lending Report Policies Compliance 60

PYMNTS

APRIL 15, 2019

financial system amid the rise of alternative lenders. Beyond the fact that those CEOs said systemic risk is not yet in the cards, the septet also said these alternative lenders bear watching, lest the growing nonbank sector eventually give cause for alarm. The Question of Regulation. During the Congressional hearing, Rep.

Lending 175

Lending United States Survey System 175

PYMNTS

AUGUST 24, 2018

To help stimulate credit flows to local governments and companies, The People’s Bank of China has injected 149 billion renminbi – or $22 billion – into the banking system. China made use of a medium-term lending facility to provide commercial banks with loans for a duration of one year at a 3.3 percent interest rate. “The

Lending 101

Lending Regulation National Report 101

PYMNTS

SEPTEMBER 26, 2018

Australian regulators on Tuesday (Sept. ” “Many of the delays in breach reporting and compensating consumers were due to the financial institutions’ [FIs] inadequate systems, procedures and governance processes, as well as a lack of consumer-oriented culture,” said James Shipton, the ASIC’s chairman.

Regulation 108

Regulation National Compliance System 108

Perficient

JULY 11, 2022

According to a survey by Lending Tree , nearly 70% of BNPL users admit to spending more on purchases when BNPL is an option than they do if they have to pay for everything upfront, bringing up the average value per order and resulting in higher profits for participating merchants.

Fintech 474

Fintech Trends South Dakota Apple 474

Abrigo

AUGUST 9, 2019

Banks and credit unions must learn about these upcoming changes, adjust for them, and meanwhile continue to operate their existing institutions and meet customers’ needs while following all of the regulations that come with being a financial institution. It can all add up to a serious time crunch. See the entire agenda here.

Management 150

Management Conference Lending Training 150

PYMNTS

SEPTEMBER 18, 2018

In Singapore, news came this week that the country will open up its real-time payment system to FinTech firms. The system is known as FAST, and Minister of Education Ong Ye Kung said part of the impetus is to let non-bank firms have access, while launching a unified payment code known as SGQR that is focused on ePayments.

Fintech 166

Fintech New York US National 166

Gonzobanker

FEBRUARY 29, 2024

It’s very hard for regulated banks and credit unions to gain any meaningful efficiencies under $1 billion in assets. As banks invest in new lending, analytics, risk and CRM systems, leaders need to be demanding jerks and insist that all team members use the darn tools and realize the benefits of workflow automation.

Tools 163

Tools Analytics Data System 163

PYMNTS

AUGUST 30, 2019

Ten banks will be consolidated, Finance Minister Nirmala Sitharaman told the outlet – including the country’s second-largest state lender, Punjab National Bank. Analysts and economists have said the slowdown is due to problems within India’s banking system. Bad debts and scandals have curtailed lending and dissolved confidence. “It

Lending 115

Lending National Regulation System 115

PYMNTS

JUNE 28, 2016

Those shocks included LendingClub come-apart as the spark and increasingly interested looking pack of regulators coming to call. A few years ago marketplace-based online lending was being hailed as the the signature innovation that was going to upend tradditional bank based lending for consumers and small businesses everywhere.

Lending 100

Lending National Marketing Online 100

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

Compliance 101

Compliance Regulation Community Bank Community 101

Abrigo

FEBRUARY 8, 2022

Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. Consumers are looking for speed without the hassle of mounds of paperwork and lengthy approval processes, whether with deposit or lending accounts. Regulations & Guidance Forthcoming.

Compliance 195

Compliance Training Regulation Fraud 195