Abrigo

NOVEMBER 9, 2022

Financial institutions work to meet Q1 2023 CECL deadline A CECL implementation survey by Abrigo found progress by financial instittuions is mixed ahead of the upcoming deadline. . In many cases, financial institutions adopting CECL for the 2023 deadline are tracking ahead of where SEC registrants were as they faced a 2020 deadline.

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Banking Exchange

JANUARY 16, 2023

Merchants & Marine Bank and City National Bank have launched separate initiatives to support small businesses and local communities Community Banking Feature3 Feature Small Business Customers People Consumer Compliance

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Community Bank Community Compliance National 136

South State Correspondent

OCTOBER 26, 2023

The discussions were healthier, more compliance-focused, and with little expectations that banks were going to offer crypto to their customers any time soon. Regulators will want more compliance bodies, more compliance/risk technology, or both out of almost every BaaS bank.

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Conference Las Vegas Fraud Data 221

Perficient

FEBRUARY 15, 2024

The announcement of significant amendments to the DFS500 regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector. Embracing these changes enables entities to fortify their operations, safeguard stakeholders, and instill trust within the broader financial community.

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Compliance New York Regulation Analysis 221

Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector.

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New York Compliance Regulation Analysis 221

Abrigo

DECEMBER 22, 2023

The most-read lending & credit blogs in 2023 Probability of default, CECL model validation, and stress testing were among Abrigo's top blogs on ALM, CECL, and portfolio risk this year. download NOW Takeaway 1 The most popular blog posts on the Abrigo site reflect many of the priorities community banks and credit unions had in 2023.

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Lending Risk Management Community Management 221

Abrigo

NOVEMBER 13, 2024

In conversations with community banks and credit unions across the country, we’re hearing about a significant increase in line utilization, raising questions about both liquidity and credit risk. However, recent data from Abrigo shows that privately held companies across the U.S. are displaying their financial resilience.

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Lending Meeting Data Risk Management 195

Jeff For Banks

DECEMBER 10, 2023

As a point of reference, the S&P US BMI Bank Total Return Index for the five years ended December 7, 2023 was 23.32%. Communities First Financial Corporation (Now FFB Bancorp) (OTCQX: FFBB) #2. Treasury as a Community Development Financial Institution (CDFI). Coastal Financial Corporation (Nasdaq: CCB) #3.

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Fresno North Carolina Raleigh FDIC 98

American Banker

MARCH 5, 2024

New York Community's recent disclosures that it had financial reporting weaknesses in 2023 raises new questions over the auditors' role. The auditing giant KPMG audited the three regional banks that failed last year.

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New York Community Regional Report 87

American Banker

AUGUST 8, 2024

s focus on implementing stricter control over brokered deposits is misguided, a former chairman on the agency writes, and misses the real lessons of 2023's bank failures. The Federal Deposit Insurance Corp.'s

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FDIC Community Bank Community Compliance 78

Abrigo

MAY 30, 2023

DOWNLOAD Takeaway 1 The effective date of the CFPB's new rule based on Section 1071 of the Dodd-Frank Act is June 28, 2023. But compliance deadlines are tiered. Takeaway 2 Reporting tiers and their deadlines are based on the number of covered transactions to small businesses that a lender originated in 2022 and 2023.

Compliance 195

Compliance Lending Data Regulation 195

Abrigo

OCTOBER 19, 2023

This Winter 2023 “Leader” award marks the fourth time Abrigo has been named a leader in the loan origination category and the second time its Sageworks Lending software has been recognized in the “Best Support” and “Easiest to Do Business With” categories.

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Software Lending Resources Community 221

Abrigo

AUGUST 13, 2024

Other podcasts might be internationally based and of little interest to community financial institutions or credit unions based in the U.S. Main Street Banking: A Podcast for Community Bankers 8. The Community Bank Podcast 10. or those primarily focused on the domestic banking market. banks and credit unions can be difficult.

Fraud 221

Fraud Community Community Bank Lending 221

Abrigo

OCTOBER 22, 2024

FinCrime fighters aren’t just checking boxes for compliance. At Abrigo, we’ve always focused on helping financial institutions thrive—not just for their own benefit but for the sake of the communities they serve. Federal Trade Commission (FTC) reported consumers lost more than $10 billion to fraud alone in 2023.

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Security Fraud Community National 221

Abrigo

FEBRUARY 11, 2022

Firm deadline for CECL implementation set As expected, the FASB agreed to uphold CECL’s 2023 implementation date. You might also like " CECL Streamlined: A Webinar Series for 2023 Adopters". Takeaway 1 The FASB agreed to uphold the 2023 implementation date for those that haven’t yet adopted the CECL standard. Where to Begin.

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Resources Regulation Community Bank Community 195

Jack Henry

DECEMBER 14, 2021

Current Expected Credit Loss, or CECL for short) in January 2023, community banks and credit unions are fully engaged. When CECL was first released back in 2016, the prevailing thought was that achieving compliance basically meant choosing a model and filling it with data.

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Community Bank Compliance Community How To 147

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

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Training Compliance Fraud Policies 221

Abrigo

MAY 24, 2023

Takeaway 2 Considering the urgent need for a legislative solution, the SAFE Banking Act of 2023 could bridge the gap between state and federal marijuana laws. The new 2023 version of the SAFE Banking Act was introduced in the House of Representatives ( HR2891 ) and the Senate ( S1323 ) in May 2023.

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Lending Fraud Operations Ohio 195

Abrigo

JANUARY 30, 2024

REGISTER Takeaway 1 Banking and compliance professionals rely on ThinkBIG to elevate their understanding of industry shifts and regulatory pressures. Banking and compliance professionals rely on the annual conference to elevate their understanding of industry shifts and regulatory pressures that hammer them daily.

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Conference Arizona Phoenix Fraud 195

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 195

Training Compliance Fraud Policies 195

Abrigo

JUNE 19, 2022

New Fed Tool: ELE for 2023 CECL implementation The Federal Reserve's new Expected Loss Estimator, or ELE, tool for CECL is a spreadsheet-based option for smaller financial institutions to implement the current expected credit loss standard. You might also like these webinars especially for 2023 CECL adopters: "CECL Streamlined."

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Tools Regulation Data Resources 195

Abrigo

DECEMBER 22, 2023

The most-read portfolio risk blogs in 2023 Probability of default, CECL model validation, and stress testing were among Abrigo's top blogs on ALM, CECL, and portfolio risk this year. Here are Abrigo’s 10 top ALM, CECL, and portfolio risk blogs in 2023. Click the header next to each number to visit the corresponding top blog post.

Risk Management 221

Risk Management Regulation Management Lending 221

Abrigo

FEBRUARY 14, 2023

Data collection requirements The CFPB 1071 rule is a top compliance concern According to a recent survey , financial institution executives’ top regulatory compliance concern is the final rule from the Consumer Financial Protection Bureau (CFPB) on data collection for small business loan applications.

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Data Lending Compliance Resources 195

Perficient

JANUARY 30, 2024

The CoE Background Perficient’s Risk and Regulatory CoE was established this past October (2023) to confront potential compliance issues. We also invite you to see our open jobs or  join our talent community  for more career tips, company updates, and more.

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Innovation Risk Management Meeting Management 221

CFPB Monitor

OCTOBER 5, 2022

Federal Reserve Governor Bowman voted against the rule stating: “During the public comment process, community banks raised substantial concerns with the proposal. See the banking industry group February 1, 2022 letter to the Federal Reserve on behalf of the community banks. The final rule will be effective July 1.

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Regulation Cards Community Bank Community 78

FICO

AUGUST 3, 2022

Fraud Ideas from FICO World 2022 – and Excitement for 2023! FICO World 2022 was an excellent event with a stellar fraud protection and compliance track - here's some of what we learned. Convergence – Beyond Fraud and Financial Crime Compliance. Find out more and register to attend FICO World 2023. by TJ Horan.

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Fraud Analytics Trends Innovation 52

Abrigo

NOVEMBER 17, 2023

While some of the recent trending fraud schemes are not new, they have been transformed to prey on communities already dealing with unprecedented times. billion to fraud in 2022, a 44% increase over the prior year and a trend that has continued into 2023. The downturn in the economy has undoubtedly affected fraud statistics as well.

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Fraud Training Trends Compliance 195

Independent Banker

OCTOBER 31, 2021

The CARES Act extended the CECL implementation deadline for many larger community banks until the end of the COVID-19 pandemic. Community bankers tell us that while the extension is welcome, they’re already down the road to implementation. ICBA tells FASB CECL isn’t feasible for community banks. By Stephanie Vozza. April 2011.

Community Bank 91

Community Bank Community Software New York City 91

Abrigo

DECEMBER 16, 2019

Key Takeaways An SEC filer with a 2020 CECL deadline recommends starting ASAP on implementation -- even if your deadline is 2023. Even now, however, banks and credit unions with 2023 deadlines are seeking information about what the earliest adopters have learned so far in their implementation efforts. Be willing to change as needed. .

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West Virginia Virginia Data Community 195

Abrigo

APRIL 7, 2022

Experts answer CECL questions from 2023 adopters Participants in Abrigo's CECL Kickstart webinars asked consultants their questions leading up to the 2023 CECL implementation date. Takeaway 3 With good organization and some expert assistance, financial institutions will have a defensible model by 2023. Models for Success.

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Policies Data Examples Lending 195

Abrigo

SEPTEMBER 25, 2024

Not all lenders offer SBA-backed loans, but many lenders who participated in helping their communities access PPP loans have continued to offer SBA loans. According to a 2023 training presentation by the SBA, lenders can find a data entry guide for E-Tran on the landing page of CAFS after logging in.

Lending 221

Lending St. Louis Fraud Software 221

Jeff For Banks

APRIL 4, 2024

Although shadow banking mostly serves larger corporations, think money market funds buying commercial paper, bankers fear the trend will continue going downstream to more traditional community bank customers. Vacancy reached a record high in the fourth quarter and surpassed previous peaks last reached in 1992.

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Banking Trends Trends Millennials Oregon 110

American Banker

DECEMBER 16, 2022

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Compliance Community Bank Industry Community 45

Independent Banker

JANUARY 31, 2022

The FedNow Service is launching in early 2023, giving community banks about a year to plan. Here’s how community bankers, payments experts and fintech vendors suggest using the time to prepare. With less than a year until the scheduled launch of the FedNow Service, community banks are still awaiting updates on specifics. “And

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Community Bank Community Resources Fraud 91

Social Assurance

JULY 17, 2020

Community Spark provides your financial brand the tools to engage, track and share your community impact. To learn more about how Community Spark can help, visit our website. Compliance Deadlines for New CRA Regulations. January 2023. Compliance deadline for small and intermediate banks. March 2020.

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Compliance Community Regulation Branding 15

ABA Community Banking

MARCH 7, 2024

Bankers look back on the bank failures of spring 2023 and share some lessons learned and strategies for success. The post Stress tested appeared first on ABA Banking Journal.

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Strategy System Community Bank Community 52

PYMNTS

MARCH 25, 2019

A federal judge late last week ordered a stay on the August 2019 compliance date tied to the “ payday lending rule ” mandated roughly two years ago by the Consumer Financial Protection Bureau (CFPB). The bill, known as Senate Bill 2023, is co-sponsored by Senator Toi Hutchinson and Michael Frerichs, state treasurer.

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