Abrigo
MAY 19, 2023
Introduction How regulators define successful loan reviews Mark Twain observed, “A thing long expected takes the form of the unexpected when at last it comes.” So, let’s get a sense of what regulators specifically expect loan review to do, and let’s start with loan review systems.
Perficient
NOVEMBER 30, 2021
Recognizing that regulated and non-regulated financial institutions seek to engage in cryptocurrency and crypto asset activities, the three largest federal bank regulators, the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, recently issued a joint statement on crypto assets.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
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). The agencies stress that banks should include fallback language that provides for the use of a “robust fallback rate” if the initial reference rate is discontinued.
CFPB Monitor
MAY 16, 2022
The CFPB recently issued its annual fair lending report covering its fair lending activity in 2021. . Small business lending—assessing whether there are disparities in application, underwriting, and pricing processes, redlining, and whether there are weaknesses in fair lending-related compliance.
Abrigo
MAY 15, 2020
Other forms of fraud include identity theft, misrepresentation, such as inflating payroll numbers, and “loan stacking,” which the OCC refers to as an applicant receiving PPP loans from multiple lenders. It is not too late to perform CDD and transaction monitoring of these businesses – the regulators will expect it. SBA Lending.
PYMNTS
JANUARY 17, 2020
Sezzle , the California-based alternative payments lender, announced Thursday that it was finally approved by the state’s Department of Business Oversight ( DBO ) for a lending license. This is referred to as Buy Now, Pay Later (BNPL), a fast-emerging trend in sales.
PYMNTS
MAY 29, 2018
Banks, faced with low business growth and fierce competition in the industry, are offering business loans with sweeter terms, which is worrying some regulators. The WSJ pointed to a report from The Office of the Comptroller of the Currency (OCC), which referred to an easing of commercial loan standards as a leading risk to the industry.
Expert insights. Personalized for you.
195 
Let's personalize your content