CFPB Monitor

MAY 4, 2016

The CFPB recently joined other federal regulators who have indicated a growing interest in marketplace lending with its announcement that it is accepting consumer complaints about loans obtained through marketplace lenders. According to Politico, the Treasury received over 100 responses.

Lending 60

Lending Study Online Regulation 60

CFPB Monitor

JUNE 8, 2016

On June 9, 2016, the FTC will host a “ FinTech forum on marketplace lending ,” the first in a forum series described by the FTC as “exploring emerging financial technology and its implications for consumers.”

Lending 60

Lending Fintech California Survey 60

Abrigo

MARCH 14, 2022

In addition, leveraging lending correspondence software creates a better user experience and streamlines the internal processes. Many banks and credit unions must pull loan-related information from their core processing system and either combine it with data from paper files or manipulate it to monitor the health of the loan.

Software 195

Software System Policies Data 195

PYMNTS

OCTOBER 30, 2018

A new white paper from QuickBridge found an estimated 50 percent of small businesses that fall victim to a cybercrime are unable to recover and, as a result, are forced to shutter their doors. . Yet, the data suggests that small businesses may not be aware of the risk they face from cybercriminals.

Training 184

Training Data Virginia Resources 184

PYMNTS

MAY 10, 2017

Yet little is known about how well the lending market serves their financing needs,” CFPB Director Richard Cordray said in a statement announcing a formal request for information. This inquiry will help us learn how we can best fulfill our duty to collect and report information on small business lending.”.

Lending 108

Lending Community America Regulation 108

CFPB Monitor

APRIL 29, 2015

The CFPB has issued a fair lending report covering its fair lending activities during 2014. The report states that in 2014, CFPB fair lending supervisory and public enforcement actions required institutions to provide approximately $224 million in remediation.

Lending 60

Lending Report Policies Compliance 60

PYMNTS

JUNE 17, 2019

Analysts say that the participation of companies like Facebook and AT&T lends the crypto space an air of legitimacy that helps to distance it from views that it’s only used for criminal activity, or untrusted trading. RBC plans to study the paper so it can “help investors analyze the underlying crypto economics of the token.”.

Bitcoin 136

Bitcoin social media cryptocurrency Study 136

CFPB Monitor

MAY 18, 2016

In March 2016, the OCC released a white paper: “Supporting Responsible Innovation in the Federal Banking System: An OCC Perspective.” The white paper discusses the OCC’s eight guiding principles for responsible financial innovation. For more on the white paper, see our legal alert.

Innovation 68

Innovation Washington Risk Management Fintech 68

American Banker

MAY 4, 2016

The Treasury Department will release a white paper next week outlining “research and recommendations” related to marketplace lending as a capstone to its nearly yearlong inquiry into the fast-growing industry.

Lending 28

Lending Industry Compliance Regulation 28

CFPB Monitor

NOVEMBER 1, 2021

With help from Ballard Spahr colleagues Mindy Harris and Ron Vaske, I have now completed a months-long project in updating and expanding a 2017 White Paper addressing bank-model lending—programs involving partnerships between banks (or savings associations) and fintech or other nonbank companies in the interstate delivery of loans.

Lending 78

Lending Maryland FDIC Analysis 78

CFPB Monitor

NOVEMBER 10, 2016

The CFPB was represented by Victoria Pawelski, Counsel, Supervision Policy, Supervision, Enforcement and Fair Lending. She also noted the CFPB’s June 2013 white paper and July 2014 report on checking account overdraft services. On November 9, 2016, the Federal Reserve hosted a webinar on overdraft practices.

FDIC 76

FDIC Policies Lending Report 76

PYMNTS

MAY 15, 2017

’ SME finance space to understand how lenders lend to small businesses — or even define what they are. Yet little is known about how well the lending market serves their financing needs,” said CFPB Director Richard Cordray in a statement. trillion is held by the world’s shadow banking market , with the U.S.

Lending 103

Lending Data Report Conference 103

PYMNTS

SEPTEMBER 18, 2019

Payday Lending Laws Drive Traffic to Pawn Shops. It also released a white paper about R2P and the benefits PSPs will experience by having a real-time messaging solution. Prior to BlueVine, he was president and CEO of the digital payments firm DOSH. Bill Gates Says No to Big Tech Breakup.

United States 116

United States Fintech Payments Industry 116

CFPB Monitor

APRIL 18, 2019

In May 2018, the CFPB issued an RFI and white paper on small business lending. Other symposia topics will include behavioral law and economics, small business loan data collection, disparate impact and the Equal Credit Opportunity Act, cost-benefit analysis, and consumer authorized financial data sharing.

Policies 68

Policies Analysis Compliance Lending 68

PYMNTS

SEPTEMBER 19, 2017

The biggest opportunities exist in transaction banking and commercial lending, Finastra said, but there is also a real opportunity in working with FinTechs (and the tech they offer) to help banks land a larger slice of the combined $915 billion in revenues FIs are expected to see at the end of the decade.

Innovation 108

Innovation Survey blockchain Lending 108

PYMNTS

APRIL 30, 2018

Marketplace lending. The blockchain can even end world poverty and transform society by making it safer for total strangers to lend each other money — without any third-party intermediary — and without any risk. Marketplace Lending. Blockchain. Digital banks. Blockchain. Take the blockchain.

Fintech 183

Fintech blockchain Lending Digital Banking 183

PYMNTS

JUNE 3, 2016

To that end, a recent white paper by VantageScore seeks to help provide a roadmap on how today’s borrowers may – or may not – be good credit risks tomorrow. How would you lend – if you knew that those scores were going to deteriorate?”. Credit scoring as a predictor of credit risk is a challenging proposition.

Study 100

Study Lending Cards Analytics 100

FICO

JULY 18, 2022

However, over the last decade, new credit score providers have developed scores entirely or predominantly with ML, which they touted as more innovative and effective for fair, inclusive credit decisions for lending, particularly for underbanked and “unscorable” populations. Can Arkali. See all Posts. chevron_left Blog Home. Related posts.

Analytics 52

Analytics Lending Data Industry 52

Jeff For Banks

JUNE 20, 2017

So what am I talking about, that deposit insurance is why banks don't do like FinTech lending firms and use alternatives to the FICO score in underwriting consumer credits? They have to find out later, after a bureaucrat in Washington does a white paper. What does that mean? Whatever you want it to mean.

Data 60

Data FDIC Regulation Washington 60

CFPB Monitor

APRIL 7, 2020

Another potential area of risk highlighted by Chris Willis was fair lending issues that could arise from the handling of modification and forbearance requests. Roddy discussed the emergency debt collection regulation issued by the Massachusetts AG and the possibility of state UDAP claims based on collection activities during the crisis.

Massachusetts 78

Massachusetts Compliance Regulation Operations 78

CFPB Monitor

FEBRUARY 8, 2021

Cordray referenced an April 2020 white paper he co-authored that outlined immediate actions the CFPB could take to address the pandemic.) Chopra “his own person” and expects him to take the CFPB in new directions. He expects Mr. Chopra to vigorously pursue ways for the CFPB to support consumers financially injured by the pandemic.

Leadership 78

Leadership Lending Groups Policies 78

FICO

MARCH 10, 2021

By adopting FICO® Score 10 or FICO® Score 10 T, which both leverage FICO’s latest techniques and technology, lenders have better opportunities than ever to optimize credit risk decisions across their consumer lending portfolios. by David Binder.

Analysis 52

Analysis Risk Management United States Management 52

PYMNTS

AUGUST 3, 2016

“As part of [VantageScore Solution’s] mission, annually validates VantageScore credit score models at each of the credit reporting companies (CRCs) – Experian, Equifax and TransUnion,” the company wrote in a recent white paper. “To VantageScore 3.0 outperforms the CRC models by an average of 1.7 percent in key industries.

Lending 100

Lending Comparison Report Industry 100

PYMNTS

MAY 4, 2017

In 2015, American Express published a white paper declaring that the global trade industry must improve the transfer of funds and information between businesses working internationally. Efforts to improve the letter of credit can be traced back for years.

blockchain 169

blockchain Survey America Lending 169

PYMNTS

MAY 13, 2016

On the heels of Lending Club’s fall from grace this week – the day after to be precise – Wells Fargo announced that it would come to the rescue of SMBs by offering fast decisions on small business loans. Alt Lending. Lending Club lost 80 percent of its market cap in just 2.5 Payday Lending. Wells Fargo.

Cards 100

Cards Lending Google Apple 100

FICO

SEPTEMBER 28, 2018

I called out some highlights from FICO’s recent white paper on this subject. (We The panel primarily focused on the opportunities and challenges associated with the use of Machine Learning (ML) in credit underwriting. We will dive into this further in future blogs so keep an eye out.).

Miami 53

Miami Analytics Resources US 53

CFPB Monitor

JULY 28, 2022

Payday lending. Director Chopra identified the Military Lending Act as a CFPB enforcement focus, including in connection with loans made through bank/nonbank partnerships. He did not mention rulemaking. Enforcement. The validity of the CFPB’s interpretation does not turn on whether discrimination meets those criteria.

Regulation 78

Regulation Lending Fraud Meeting 78

CFPB Monitor

MAY 26, 2015

The CFPB issued a June 2013 white paper and a July 2014 report on checking account overdraft services. The confirmation follows reports at the 2015 PLI Annual Consumer Financial Services Institute held in April 2015 that installment lending was the next non-bank industry that might be subject to a larger participant rule.).

Study 60

Study Analysis Lending Report 60

Jeff For Banks

MARCH 3, 2010

That Act did not permit national banks to lend on real estate. Times changed, however, and banks were permitted to do real estate lending, and these loans became twenty five percent of bank loan portfolios after World War II. But we as bankers have played a role in the decline of business lending.

Lending 60

Lending Capital Community National 60

CFPB Monitor

NOVEMBER 24, 2014

(The CFPB explained its use of the BISG proxy method in a white paper that accompanied the release of the CFPB’s proposed larger participant rule for the auto financing market and a special edition of Supervisory Highlights describing the CFPB’s fair credit supervisory activity in “the indirect automobile lending market.”).

Study 68

Study Analysis Regulation Analytics 68

FICO

JANUARY 8, 2021

To be clear, this is not only about efficiency in lending. For more information on this topic, read our white paper on Agile Decisioning in an Unprecedented Downturn. #5. To learn more about FICO’s Loan Origination Solution, visit www.fico.com/en/solutions/origination-for-unsecured-lending. by FICO.

Analytics 52

Analytics Analysis Lending Management 52

CFPB Monitor

AUGUST 3, 2016

This release by the CFPB echoes the principles discussed in the recent white paper issued by the Treasury, HUD, and the FHFA titled: “Guiding Principles for the Future of Loss Mitigation: How the Lessons Learned from the Financial Crisis can Influence the Path Forward.”

Meeting 60

Meeting Regulation Policies Lending 60

William Mills

MAY 11, 2016

Under the scenario the consumer can transfer much-needed cash as well get cash (that was earned, not paid yet) so no payday or online lending debt is added. Download our latest white paper that discusses what it really takes to develop a successful Fintech startup. Peer lending meets machine learning, with LendingRobot.

Video 40

Video Lending social media Analytics 40

FICO

MARCH 8, 2021

We’ve conducted research and developed frameworks that are used to assess many types of alternative data sources used in credit decisions (for more, see our recent white paper ). The use of this type of alternative data for credit scoring and, ultimately, consumer lending is promising for several reasons.

Data 52

Data Innovation Examples Study 52

FICO

NOVEMBER 15, 2016

The answer is that there are FICO® Score minimum scoring criteria, which play a critical role in ensuring the robustness and accuracy of our credit scoring system, and by extension the soundness of lending decisions based on that system. As articulated by the FICO white paper Can Alternative Data Expand Credit Access? ,

Lending 40

Lending Data Innovation US 40

CFPB Monitor

APRIL 19, 2022

At the end of last year, we completed a months-long project in updating and expanding a 2017 White Paper addressing bank-model lending—programs involving partnerships between banks (or savings associations) and fintech or other nonbank companies in the interstate delivery of loans.

California 78

California Innovation Utah United States 78

FICO

JANUARY 15, 2021

lending decisions (Mercator Advisory Group Analyst Report 2018). Even if other credit scoring models include treatment of the credit reporting codes related to loan forbearance or deferred payment plans that result in lower scores, rest assured that these score drops have no bearing on your FICO® Score.

Report 59

Report Payments Cards Data 59