Abrigo

DECEMBER 29, 2023

Takeaway 2 Readers in 2023 were most interested in learning how the 1071 rule will impact banks and credit unions and about how automation improves processes. Concerns about credit risk have been in the headlines often in 2023, and financial institutions across the U.S. Papers, checklists What were lending and credit risk pros reading?

Resources 221

Resources Lending Risk Management Policies 221

Perficient

SEPTEMBER 11, 2023

Already reviewed by Perficient, BES provides a secure and efficient portal to exchange documents, information, and communications for consumer compliance and Community Reinvestment Act (CRA) examinations. This month, the Federal Deposit Insurance Corporation (FDIC) launches it new Banker Engagement Site (BES) through FDIC connect.

Compliance 221

Compliance FDIC Tools Leadership 221

Abrigo

FEBRUARY 10, 2023

Keep leadership informed on AML/CFT trends to ensure a strong culture of compliance at your financial institution. Now that FinCEN is tasked with developing a federal beneficial ownership registry, financial institutions can expect more rulemaking around BOI in 2023. Takeaway 2 The registry is intended to reduce loopholes in the U.S.

Fraud 195

Fraud Training Regulation Compliance 195

Gonzobanker

DECEMBER 14, 2023

While Huntington is down like most bank stocks, the pain hasn’t been as severe, and Huntington doubled down on local markets in 2023 by consolidating business units. He passed away in January 2023. The Worst Day of the Year Award – goes to May 1, 2023, when First Republic Bank failed. What a year.

Fintech 192

Fintech Community Regional Technology 192

Perficient

AUGUST 16, 2023

On Monday, July 31, 2023, all four branches of Heartland Tri-State Bank were reopened as Dream First Bank branches. The FDIC’s Division of Liquidation then brokered a deal for Dream First Bank, a National Association of Syracuse, Kansas, to take over the branches of Heartland Tri-State Bank.

United States 221

United States Kansas FDIC Risk Management 221

Independent Banker

DECEMBER 31, 2022

While the pace of bank regulatory changes has diminished from a few years ago, several issues will either become effective or likely develop in 2023. 1, and applicable to the first quarterly assessment period of 2023 with an invoice payment date of June 30, 2023. Finalization is expected as early as 2023. Quick Stat.

Compliance 100

Compliance FDIC Community Bank Community 100

South State Correspondent

JANUARY 4, 2023

A potential economic slowdown, slower rate rises, an inverted yield curve, and deposit stress likely make 2023 a trying year compared to 2022. In the past, you have seen us rank customer relevance and total experience as a top priority for banks – not in 2023. Financial pressure will be greater, and bank margins will be higher.

Community Bank 195

Community Bank Capital Marketing Lending 195

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.

Survey 195

Survey Software Resources Meeting 195

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.

Conference 221

Conference Las Vegas Fraud Data 221

Perficient

FEBRUARY 2, 2024

Our Expertise Perficient launched its Risk and Regulatory CoE in October 2023 to proactively address compliance issues. The public comment period closes on November 30, 2023, and agencies are finalizing the development of the guidance, to be published in the Federal Register.

Compliance 221

Compliance Software Trends Strategy 221

Perficient

DECEMBER 29, 2023

In conjunction with the Amended Restoration Plan, the FDIC Board increased deposit insurance assessment rates by 2 basis points for all insured depository institutions, effective in the first quarterly assessment period of 2023. As of June 30, 2023, the DIF balance stood at $117B. percent as of June 30, 2023.

FDIC 221

FDIC Leadership Compliance US 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. Impacted institutions are subject to significant fines relative to the level of non-compliance identified by the regulators.

Compliance 221

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.

New York 221

New York Compliance Regulation Analysis 221

Perficient

DECEMBER 21, 2023

A Brief Overview Initially slated for comments by November 30, 2023, the proposed rule mandates specific financial institutions to issue and maintain a minimum amount of outstanding long-term debt (LTD), including: Large depository institution-holding companies U.S. Email: Send your comments to regulationshelpdesk@gsa.gov.

DC 221

DC FDIC Washington Compliance 221

Perficient

OCTOBER 30, 2024

As part of the regulatory process, FinCEN may consider how financial institutions are currently using innovative approaches to compliance such as machine learning and AI, and the potential benefits and risks of specifying standards for those technologies.

Regulation 221

Regulation FDIC Compliance Innovation 221

Perficient

NOVEMBER 21, 2024

The first compliance deadline of April 1, 2026, impacts the largest organizations. The compliance deadline, however, depends on the firm’s total receipts from calendar years 2023 and 2024. The compliance deadline, however, depends on the firm’s total receipts from calendar years 2023 and 2024.

Compliance 221

Compliance Data Cards Meeting 221

Perficient

JANUARY 16, 2024

Background On October 19 th , 2023, the Office of the Comptroller of the Currency (OCC) published an article highlighting new enforcement actions and clarifying explicit rules regarding misconduct, particularly as it relates to financial abuse by senior-level management.

Compliance 221

Compliance Guidelines Policies Risk Management 221

Abrigo

DECEMBER 22, 2023

The most popular financial crime blogs in 2023 Check fraud, the SAFER Banking Act, and BSA exam topics were among Abrigo's top blogs on AML/CFT and fraud this year. Abrigo, a leading technology provider of software solutions for financial institutions, published more than 30 risk management articles on its industry-focused blog in 2023.

Fraud 221

Fraud Training Compliance Trends 221

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

PYMNTS

OCTOBER 16, 2019

The Cost of Compliance. Scandal and fraud tarnishing banks’ reputations aside, the impact that AML compliance controls have had on these banks’ bottom lines can’t be underestimated. And yet, per that same study, 30 percent rate at least one of their AML components as being either “not at all” or only “somewhat” effective.

Compliance 123

Compliance Fraud Study Digital Banking 123

Banking Exchange

JANUARY 16, 2023

Chief risk officers say they are seeing cybersecurity risks everywhere, new survey shows Risk Management Feature3 Feature Cyberfraud/ID Theft Compliance/Regulatory Operational Risk Security

Risk Management 139

Risk Management Survey Compliance Security 139

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.

Lending 221

Lending Risk Management Community Management 221

PYMNTS

FEBRUARY 7, 2020

It was said there were compliance issues tied to data processing regulations that might have kept the payment service from rolling out by the end of 2019 as had been forecast. There are forecasted to be over one billion mobile phone users in the country, and the digital payments market could have a value as high as $1 trillion by 2023.

Mobile 267

Mobile Compliance Payments National 267

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

Community Bank 136

Community Bank Community Compliance National 136

Perficient

DECEMBER 28, 2023

The term “junk fee” has appeared in no fewer than 10 press releases in 2023 alone, signaling a broader concern for the CFPB. Starting in June 2023, the CFPB released several other press releases further criticizing practices they deemed inappropriate. Unexpected fees for a product or service.

Compliance 221

Compliance Regional Industry Leadership 221

Perficient

NOVEMBER 6, 2024

SEC The Securities and Exchange Commission (SEC) issued a proposed rule in July 2023 to address conflicts of interest associated with broker-dealers’ and investment advisers’ use of predictive data analytics (“PDA”) and similar technologies, including AI.

Regulation 221

Regulation Compliance Analytics System 221

Perficient

JULY 12, 2023

However, in what is sure to be a landmark in federal regulation, on June 6, 2023, the primary federal bank regulatory agencies issued final joint guidance designed to help banking organizations manage risks associated with third-party relationships, including relationships with financial technology companies.

Management 221

Management Risk Management Regulation Compliance 221

Perficient

NOVEMBER 1, 2024

The following year, in December 2023, the US Treasury Department issued an RFI that sought input to inform its development of a national financial inclusion strategy; that RFI included questions related to the use of technologies such as AI in the provision of consumer financial services.

Regulation 221

Regulation US Community National 221

Perficient

NOVEMBER 27, 2023

According to The Forrester Wave : Process Intelligence Software, Q3 2023 report , “Customer-obsessed companies are adapting how they work internally to deliver shorter turnaround times at higher quality and/or lower cost. This has challenged many organizations to better optimize and intelligently automate business processes and experiences.

Industry 221

Industry Regulation Compliance Data 221

PYMNTS

AUGUST 14, 2019

We have received the data localization compliance system audit report from WhatsApp, which shall be reviewed in the next few weeks,” a Mumbai-based representative for NCPI said, according to Bloomberg. India’s digital payments market is expected to hit $1 trillion by 2023, according to a report by Credit Suisse Group AG.

Compliance 100

Compliance National Payments Trends 100

Perficient

APRIL 18, 2024

CFPB Regulation Advances Open Banking The Consumer Financial Protection Bureau (CFPB) has proposed Rule 1033 to implement open banking, requiring “…depository and non-depository entities to make available to consumers and authorized third parties certain data related to consumers’ transactions and accounts; establish obligations for third (..)

Cards 221

Cards Data Regulation Apple 221

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 221

Training Compliance Fraud Policies 221

Perficient

NOVEMBER 22, 2023

However, in October 2023, loan payments resumed, presenting new financial challenges. In the second quarter of 2023, the average credit card balance soared to a 15-year peak. In March 2020, the student loan forgiveness program was initiated, providing relief to many borrowers.

United States 221

United States Cards US Operations 221

Perficient

JANUARY 23, 2024

Additionally, these branches underwent annual on-site inspections to ensure compliance with regulations. This shift also led to technological advancements enabling firms to closely monitor broker activity to ensure full compliance at all times. Elimination of registration costs associated with registering all RSLs as branches.

Compliance 221

Compliance Regulation Industry Maine 221

Perficient

JANUARY 3, 2024

Additionally, these branches underwent annual on-site inspections to ensure compliance with regulations. This shift also led to technological advancements enabling firms to closely monitor broker activity to ensure full compliance at all times. Elimination of registration costs associated with registering all RSLs as branches.

Compliance 221

Compliance Risk Management Regulation Industry 221

Abrigo

NOVEMBER 13, 2024

The latest data from Abrigo shows that even with a 350-basis-point increase in interest rates, the average DSCR for privately held businesses was 5.75x in 2023, nearly unchanged from 5.73x in 2019. See Abrigo Loan Origination Benchmarks for real-time data. Leverage actually decreased, showing that companies are not overextending themselves.

Lending 221

Lending Meeting Data Risk Management 221