CFPB Monitor

JULY 11, 2022

When the Truth in Lending Act became law in 1969, the Federal Reserve Board soon thereafter promulgated its implementing regulation, Regulation Z. The Fed subsequently began using Official Staff Commentaries for the other consumer finance regulations that it was charged with interpreting.

Regulation 78

Regulation Meeting Pennsylvania Compliance 78

Abrigo

JULY 25, 2017

Ashbaugh’s presentation begins with a quick summary of why regulators care about HVCRE. Ashbaugh goes on to demonstrate that the default rates for these loans did not peak until about 2009, and the ALLL did not increase until 2010. How did we get here? That 13% represented 80% of the losses to the FDIC insurance fund.

Risk Management 150

Risk Management Management Capital Lending 150

Jeff For Banks

JANUARY 27, 2011

I was at a strategic planning retreat a few weeks back where a colleague lauded the concept of bankers getting back to plain vanilla community banking. But if you read or watch interviews of CEOs of community FIs from 2008 forward, you will be bombarded with the message that they didn''t engage in the things that led to the collapse.

Community Bank 68

Community Bank Community Apple National 68

Bussman Advisory

OCTOBER 7, 2023

Join our community of 50,000+ subscribers and stay informed on the latest trends and news in the FinTech & AI world with the weekly newsletter provided by Bussmann Advisory. Since its establishment in 2010 as a challenger to major UK banks, Metro Bank’s shares have dropped nearly 66% since mid-September.

Metro 52

Metro blockchain Cards Samsung 52

Bank Innovation

AUGUST 10, 2017

Only three years after Quant Quake, another notable incident of huge market fluctuations driven by algorithms occurred: The Flash Crash of 2010, in which trillions of dollars were lost from the US equity markets, only to be mostly recovered, all within about 36 minutes. It doesn’t seem like it. Why haven’t we learned?

Strategy 170

Strategy Marketing Regulation US 170

PYMNTS

MARCH 9, 2017

The report noted Google is getting one of the biggest and most active data scientists’ community and will get access to more mindshare. million in venture funding since it went live in 2010. The potential deal comes at a time when Google is facing backlash from regulators outside of the U.S. and consumer groups.

Google 101

Google Data Groups Video 101

Jeff For Banks

FEBRUARY 6, 2011

Take for example the language from an FA Article relating to a strategic plan issued by the OCC to The Suffolk County National Bank of Riverhead (“SCNB”) in New York on October 25, 2010: “The Board shall adopt, implement, and thereafter ensure Bank adherence to a written strategic plan for the Bank covering at least a three-year period.

Regulation 68

Regulation FDIC National Capital 68

Abrigo

DECEMBER 16, 2019

Regulators, investors, and other stakeholders will be watching and listening for updates on the impacts of the accounting change. Ours, who is Senior Vice President and Director of Credit Administration of Summit and its 32-location bank subsidiary, Summit Community Bank Inc., Ours said Summit Community ran into that issue.

West Virginia 195

West Virginia Virginia Data Community 195

PYMNTS

MAY 30, 2018

The Economic Growth, Regulatory Relief and Consumer Protection Act loosened some of the regulations on small financial institutions, including community banks whose customers included many small businesses. lost more than a quarter of its community banks, according to the Federal Deposit Insurance Corp.

Lending 115

Lending Community Bank Survey Community 115

CFPB Monitor

NOVEMBER 3, 2014

Klein The Federal Reserve Board indicated it is scrutinizing mortgage loan pricing models that comply with Regulation Z but nonetheless, in the view of the Board, significantly increase fair lending risk. We wrote about the case, Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc.

Lending 90

Lending Community Regulation Texas 90

PYMNTS

OCTOBER 17, 2017

An industrial bank is an FDIC-insured depository institution that is generally subject to the same banking laws and regulations as any other bank charter type, with the important exception of the Bank Holding Act of 1956. ILCs are used to form industrial loan companies, better known as industrial banks.

Industry 108

Industry Fintech FDIC Community Bank 108

Independent Banker

AUGUST 25, 2016

Advocacy Advocate—ICBA’s Joshua Harbursky works to assist community bankers with their industry policy engagement with lawmakers and regulators. ICBA has a great infrastructure in place and a lot of active advocates among community bankers. Anyone with an interest in promoting community banks can be an ICBA advocate.

Washington 72

Washington Community Bank Policies Community 72

Abrigo

APRIL 7, 2022

At recent Abrigo CECL Kickstart webinars, consultants demonstrated CECL implementation practices with an emphasis on the needs of community banks and credit unions. Once factors like the economy, new regulations, management changes, or even natural disasters are factored in, a greater allowance may be necessary.

Policies 195

Policies Data Examples Lending 195

Abrigo

AUGUST 26, 2015

There’s been much back and forth over the last week on this subject and the NCUA’s desire to stick to a 12-month examination cycle for the financial institutions it regulates. In 2010, following the economic downturn, the NCUA moved from an 18-month period to the current 12-month one.

Survey 150

Survey Community National Community Bank 150

Independent Banker

FEBRUARY 24, 2016

Community banks cannot afford to ignore the staggering pace of lending adoption by both individuals and businesses using digital-only platforms from various nonbank technology-based specialty lending firms. But community banks should not be without hope, nor should they underestimate the significance of customer relationships.

Community Bank 70

Community Bank Community Lending FDIC 70

PYMNTS

DECEMBER 10, 2018

Eighteen percent of small businesses surveyed by Gallup and Wells Fargo say hiring is their top challenge , beating out taxes, government regulations, cash flow management and customer attraction as the top issue for small business owners. Paychex data found that hourly earnings have grown for the third-straight month, rising 2.38

Marketing 148

Marketing Data Survey America 148

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

PYMNTS

OCTOBER 24, 2017

But since 2010, the beginning of the recovery period, industries surveyed by the PYMNTS Store Front Index have generally returned to a state of healthy and sustained growth. Storefront businesses – the shops that line the main streets and side streets of the local community – are the heartbeat of the local economy.

Maine 104

Maine Regional United States Retail 104

Gonzobanker

JANUARY 17, 2020

In the years 2010-2020, new tech adoption transformed customer expectations. Wells Fargo analyst Mike Mayo got a great deal of attention this year when he claimed that the coming decade will be “the biggest tech transformation in the history of banking.” Banks are most afraid of big tech, just when these players face regulation.

Customer Experience 125

Customer Experience Fintech Regional Cards 125

PYMNTS

JUNE 30, 2016

Walmart’s $250 billion commitment to buy products supporting American jobs is having a tangible impact on communities across the country as factories expand or open to make products for Walmart stores, Walmart.com and Sam’s Club.”. manufacturing lead.

US 113

US Boston Arkansas Retail 113

CFPB Monitor

SEPTEMBER 25, 2015

” The complaint alleged that based on 2000 and 2010 census data, more than 90 percent of the branches opened or acquired as a result of this expansion effort were outside of majority-Black-and-Hispanic neighborhoods.

NJ 60

NJ New Jersey New York Philadelphia 60

Independent Banker

MARCH 15, 2015

in Coldwater, Ohio, and ICBA’s incoming chairman, held fast to his community bank’s conservative lending practices. What concerned me most wasn’t that the customer was upset with me,” recalls Hartings of the homebuyers who ignored his community bank’s cautiously pragmatic approach. “I Jack got us through that just fine.

Ohio 70

Ohio Community Bank Community Lending 70

Jeff For Banks

DECEMBER 12, 2017

The Bank, Old Second National Bank, lost a whopping $156 million in 2009 and 2010. Their non-performing loans (NPL)/total loans ratio peaked at 12.54% in 2010, and between 2009-12, the Bank charged off over 11% of its loan portfolio. That got regulator's attention in the form of a May 2011 Consent Order (CO). Parke Bancorp, Inc.

Minnesota 60

Minnesota West Virginia Virginia Iowa 60

Insights on Business

JANUARY 10, 2017

And Blockbuster, which in 2004 had about 60,000 employees and more than 8,000 stores, was in bankruptcy by 2010 because Netflix and other on-demand video providers figured out how to deliver a much more convenient and rewarding experience. Many major hotel chains are aware that their market valuation has been eclipsed by Airbnb.

Customer Experience 87

Customer Experience social media Video Innovation 87

American Banker

SEPTEMBER 22, 2016

In 2010, lawmakers passed reforms to bring transparency and competition to a swipe fee market that had been devoid of both. Now, they want to undo that progress.

Marketing 28

Marketing Community Bank Community Cards 28

American Banker

MARCH 18, 2016

The Federal Reserve Board has terminated enforcement actions issued in 2010 against American Bank of Baxter Springs in Kansas and CB Financial in Wilson, N.C., and issued an enforcement action against Hazard Bancorp in Kentucky.

Kentucky 28

Kentucky Kansas Community Bank Community 28

Gonzobanker

AUGUST 22, 2014

Between the end of 2010 and 2013, one new bank opened in the United States. . While we may see an uptick in the number of new bank charters from the near zero we have today, too many other industries with less regulation will attract capital. At the same time, the pace of new bank charters has dwindled to near non-existence.

Strategy 87

Strategy United States Community New York City 87

Gonzobanker

DECEMBER 20, 2019

Mark Turner, Executive Chairman of the Board, WSFS Bank – We have to give the nod to an early 2019 retirement of Turner, who had one hell of a run in 12 years at the helm of a great community and wealth bank. It was always clear how much Jones loves his credit union, his team and his community. Credit Union Lifetime Achievement Awards.

Idaho 148

Idaho Conference Data Marketing 148

Jeff For Banks

NOVEMBER 23, 2011

The one that makes clear either-or choices to ensure future relevance for their customers, employees, communities, and shareholders (if stock owned). But in setting Board and regulator expectations, these projections are likely to be around 70% achievable. They are estimates of what senior leaders reasonably believe they can attain.

Strategy 72

Strategy Exercises Community Management 72

Jeff For Banks

SEPTEMBER 10, 2011

Bank of the Ozarks began in 1903 as a small community bank in Jasper, Arkansas, and by 1937, included an additional bank in Ozark, Arkansas. Bank of the Ozarks and their regulators were not so myopic in their view. There are plenty of sad stories of bank demise at the hands of experienced bankers. How did they grow so quickly?

Arkansas 64

Arkansas South Carolina FDIC Georgia 64

Jeff For Banks

SEPTEMBER 13, 2011

This gives employees comfort in management consistency, management a deep understanding of bank operations, and customers comfort in seeing familiar faces at the bank and in the community. She didn''t say anything about economies of scale, regulators, or leading edge technology. The first bullet is very telling.

Arkansas 64

Arkansas Charlotte Pennsylvania Management 64

Abrigo

SEPTEMBER 14, 2022

In 2010, Congress enacted the Dodd-Frank Act “ [t]o promote the financial stability of the United States by improving accountability and transparency in the financial system.” Those implementing regulations were coming. In fact, it took a lawsuit initiated by a California community group in 2019 to get things moving.

Lending 195

Lending Data Regulation Community 195

Tomorrow's Transactions

NOVEMBER 29, 2016

Forum friend George Selgin gave an excellent talk on this at [Consult Hyperion’s 2010 Forum], exploring the transition to industrial-age money. They might even look at some form of shared ledger solution, where copies of the “national ledger” are maintain by regulated financial institutions (e.g.,

Industry 30

Industry National Case Study Community 30

Jeff For Banks

OCTOBER 19, 2012

It seems to me that reducing burdensome regulations and not implementing harsher capital requirements would be more effective alternatives to incentivize lending than pushing all yields toward zero while buying up all of our bonds. I know I risk sounding like Charles Plosser, but so be it. The rest of the people are somewhere in between.

National 75

National Security US Massachusetts 75

CB Insights

FEBRUARY 13, 2020

Brothers Patrick and John Collison founded Stripe in 2010 in an attempt to gain share in online payments, a then-nascent market with seemingly boundless growth opportunity. Stripe’s early success in acquiring customers was largely due to its mass appeal to the developer community. Get the full report. How Stripe makes money .

Online 98

Online Company Retail Payments 98

PYMNTS

MAY 26, 2017

In a press release the group called the move a major victory for consumers and communities where retailers have passed on the swipe savings to improve customer service, create jobs and enhance the local economy.

Cards 100

Cards Retail Leadership Community 100

CB Insights

SEPTEMBER 10, 2018

The FDA is focused on clearly defining and regulating “software-as-a-medical-device,” especially in the light of recent rapid advances in AI. Large enough to train a deep neural network, the NIH hopes that the dataset will “enable the scientific community to create a large-scale universal lesion detector with one unified framework.”.

Industry 28

Industry Trends Apple Study 28