CFPB Monitor

JULY 6, 2022

The CFPB has published its Spring 2022 rulemaking agenda as part of the Spring 2022 Unified Agenda of Federal Regulatory and Deregulatory Actions. Even the two items that appeared as long-term actions in the Fall 2021 agenda, artificial intelligence and mortgage servicing, no longer appear in the Spring 2022 agenda.

Lending 78

Lending Regulation FDIC Data 78

South State Correspondent

MARCH 13, 2023

On the liability side of SVB’s $173B in deposits at the end of 2022, approximately 97% were uninsured and above the $250k in FDIC protection threshold. at the end of 2022, with $2.4B The longer the duration in the investment portfolio, the shorter the duration should be on the lending portfolio.

Risk Management 221

Risk Management Management Community Bank Community 221

CFPB Monitor

APRIL 7, 2022

The FDIC has issued the March 2022 edition of Consumer Compliance Supervisory Highlights which includes a description of some of the most significant consumer compliance issues identified by FDIC examiners during consumer compliance examinations conducted in 2021. Fair lending.

FDIC 78

FDIC Compliance Lending Regulation 78

Abrigo

JUNE 4, 2019

The Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Board of Governors of the Federal Reserve System (FRB), and the Office of the Comptroller of the Currency (OCC) have put out a joint statement addressing many frequently asked questions about the new standard. Non-PBE: December 15, 2021.

Policies 186

Policies Capital Report FDIC 186

Abrigo

NOVEMBER 9, 2022

The Q1 2023 compliance date is near for smaller SEC-reporting financial institutions and private or not-for-profit banks and credit unions, and progress is decidedly mixed, according to the Abrigo 2022 CECL Survey. Most bankers (86%) indicated they’ve moved beyond data collection in 2022, even if they haven’t yet adopted the standard (i.e.,

Survey 195

Survey Software Resources Meeting 195

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

CFPB Monitor

JUNE 22, 2022

banking regulators (the “2022 Joint Notice” or the “Proposal”). 2022 Joint Notice: Under the Proposal, banks would continue to utilize a facility-based delineation for assessment areas, but the geographic requirements for delineating these areas would be based on bank size. Performance Tests and Standards.

Regulation 78

Regulation Community Lending Retail 78

Abrigo

MAY 5, 2022

Sometimes 20 minutes, sometimes 50 minutes, this podcast digs into such topics as creating branch experiences that go hand-in-hand with digital ones, identifying risk, and consumer lending. Lending & Credit Risk. Lending & Credit Risk. Ahead of the Curve: A Banker’s Podcast Bonus Episode – ThinkBIG 2022.

Community 195

Community Lending Maine Resources 195

Jeff For Banks

DECEMBER 16, 2022

As a point of reference, the S&P US BMI Bank Total Return Index for the five years ended December 9, 2022 was -1.21%. As of or for the year-to-date September 30, 2022, the Company had $3.1 billion in total assets at September 30, 2022, fueled by organic growth and acquisitions. Silvergate Capital Corporation (NYSE: SI) #2.

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

Gonzobanker

JUNE 14, 2023

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act. If only it were so easy.

Compliance 109

Compliance FDIC Strategy Fintech 109

Abrigo

MARCH 13, 2023

Historic collapse SVB is different from other financial institutions The FDIC closure and assumption of Silicon Valley Bank (SVB) – the largest bank failure since 2008 – is a stark reminder that when a crisis occurs, it can spread as fast as a wildfire in dry fields with a strong wind. Do you get that from your deposit analysis ?

Strategy 195

Strategy Lending Security Analysis 195

South State Correspondent

APRIL 30, 2022

Based on the futures market, the Federal Reserve is expected to raise the Fed Funds rate to 3.00% at its December 2022 meeting. While we have covered the impact of the Fed on lending ( HERE ), we want to focus on the liability side of the balance sheet. The Fed will also aggressively shrink its balance sheet to tame unwanted inflation.

Community Bank 195

Community Bank Strategy Community FDIC 195

Abrigo

NOVEMBER 29, 2021

You might also like this webinar: "Is inflation the big gift to your 2022 earnings?". Financial institutions generate most of their income by lending and investment activities. Noninterest income drove 20% of community banks' net operating revenue in 2019, down from 22% in 2012, according to a recent FDIC study.

Community Bank 195

Community Bank Community FDIC Trends 195

Jeff For Banks

DECEMBER 10, 2023

Although the 2022 Top 5 are holding their own and two of them remain in today's Top 5, the 2021 edition included one bank that failed (SVB Financial Group) and one that is voluntarily liquidating (Silvergate). Before we begin and for comparison purposes, here are last year's top five , as measured in December 2022: #1.

Fresno 101

Fresno North Carolina Raleigh FDIC 101

CFPB Monitor

DECEMBER 14, 2021

The agenda’s preamble indicates that the information in the agenda is current as of November 1, 2021 and identifies the regulatory matters that the Bureau “reasonably anticipates having under consideration during the period from November 1, 2021 to October 31, 2022.”. Amendments to FIRREA Concerning Automated Valuation Models.

Lending 78

Lending FDIC Regulation Data 78

Jeff For Banks

DECEMBER 10, 2024

The FDIC designated SVB as systemically important. They provide white-label payments and depository services (think Paypal, Chime) and deploy that funding into specialized lending programs such as lending to wealth management firms, commercial fleet leasing, and real estate bridge lending.

Las Vegas 70

Las Vegas Lending Community Bank North Carolina 70

PYMNTS

OCTOBER 26, 2018

According to the report, 85 million smartwatches are forecast to be sold next year, a figure that will hit 137 million by 2022. Fitness tracker sales are forecast to fall by 43 million units in 2018, and are predicted to fall to 39 million total units sold by 2022. percent last year, 1.2 percent better than seen in 2015.

Samsung 134

Samsung Apple Study Report 134

CFPB Monitor

JULY 14, 2022

In March 2022, OppFi filed a complaint in a California state court seeking to block the DFPI’s attempt to apply the CFL rate cap to loans made through its partnership with the Bank.

California 78

California Innovation Utah Texas 78

CFPB Monitor

OCTOBER 6, 2022

In March 2022, OppFi filed a complaint seeking to block the DFPI’s attempt to apply the CFL rate cap to loans made through its partnership with the Bank. Unless it settles, it creates a risk to the viability of bank model online lending that is structured like OppFi’s Program. We believe this case is extraordinarily important.

California 78

California FDIC Analysis Utah 78

CFPB Monitor

MAY 19, 2022

In March 2022, OppFi filed a complaint in a California state court seeking to block the DFPI’s attempt to apply the CFL rate cap to loans made through its partnership with the Bank.

California 78

California Utah United States FDIC 78

CFPB Monitor

OCTOBER 18, 2022

In remarks at the DC Fintech Week conference on October 11, 2022 and in a keynote address later the same day at a roundtable conducted by the Harvard Law School Program on International Financial Systems, Acting Comptroller of the Currency Michael J.

Regulation 78

Regulation FDIC DC System 78

Jeff For Banks

JUNE 2, 2023

between 2015 and 2022. The old borrow short, lend long strategy. I want to read to you the FDIC’s conclusion from their An Examination of the Banking Crisis of the 1980’s and Early 1990’s. Who would’ve thought lending $1 million to a San Francisco cab driver to buy a house at 100% loan to value would go bad?

FDIC 60

FDIC Community Bank Regulation Lending 60

Ublocal

NOVEMBER 21, 2022

Because these funds aren’t generally available, that frees them up for banks to utilize in their own lending practices, meaning that you will earn a higher interest rate than on other kinds of savings accounts that have greater liquidity, like a statement savings account. How long should I keep a CD? Predictability.

New Hampshire 52

New Hampshire Vermont Taxes Marketing 52

CFPB Monitor

JUNE 15, 2021

The CFPB’s proposal would extend the effective date to January 29, 2022. In the agenda, the Bureau indicates that it expects to issue a final rule in January 2022. The items identified in the agenda as in the “proposed rule stage” are: Business Lending Data (Regulation B). The comment period closed on May 19, 2021.

Regulation 78

Regulation FDIC Lending Data 78

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

CFPB Monitor

DECEMBER 7, 2022

As a reminder, in March 2022, the CFPB updated its exam manual and announced, “In the course of examining banks’ and other companies’ compliance with consumer protection rules, the CFPB will scrutinize discriminatory conduct that violates the federal prohibition against unfair practices.”

Community 78

Community Compliance Industry National 78

CFPB Monitor

JUNE 20, 2022

Delivering the keynote address last week at the Consumer Federation of America’s 2022 Consumer Assembly, CFPB Deputy Director Zixta Martinez indicated that the CFPB “is taking a close look” at “’rent-a-bank’ schemes.”. Nonbank/bank partnerships are currently under siege from several directions.

FDIC 78

FDIC California Texas Fintech 78

CFPB Monitor

JANUARY 20, 2022

In this wide-ranging conversation with two experienced reporters on the consumer finance industry, we discuss differences between the current CFPB and the Trump-era CFPB, including with regard to areas of regulatory and enforcement focus such as UDAAP, consumer access to financial information, small business issues, and fair lending.

FDIC 78

FDIC Industry Leadership Report 78

Jeff For Banks

APRIL 14, 2022

21st Century Monetary Policy: The Federal Reserve from the Great Inflation to COVID-19 2022 Ben S. Inside the FDIC: Thirty Years of Bank Failures, Bailouts, and Regulatory Battles 2015 Louis D. Bernanke Bernanke, Ben S. Essays on the Great Depression 2004 Ben S. Bernanke Bernanke, Ben S. Bernanke Bernanke, Ben S. Bove Bove, Richard X.

America 60

America National Denver United States 60

CFPB Monitor

DECEMBER 17, 2021

On December 4, 2022, the OCC issued a final rule that rescinds its June 2020 Consumer Reinvestment Act (CRA) final rule and replaces it with a rule that is largely based on the OCC’s 1995 CRA rule that was adopted jointly with the Federal Reserve Board and FDIC. The final rule is effective January 1, 2022.

FDIC 78

FDIC Compliance System Community 78