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 190

Fintech Community Regional Technology 190

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. Lending Focus – Interest Rate Sensitivity and Credit Accuracy.

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

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

On the loan origination side, Abrigo’s Sageworks Lending product was lauded for its ease of use. “We have been using the Sageworks Lending software for over three years,” said one reviewer. “It We use a lot of the lending modules and love how everything integrates, creating efficiency and ease of use.”

Software 221

Software Lending Resources Community 221

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%. It had $447 million of assets and $121 million of equity at September 30, 2023. For the third quarter 2023, net interest margin was 4.10%, ROA was 1.42%, and ROE was 14.95%.

Fresno 98

Fresno North Carolina Raleigh FDIC 98

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

Abrigo

FEBRUARY 14, 2023

Takeaway 2 The rule is aimed at tracking small business credits to enforce fair lending laws and ID and support women- and minority-owned small businesses. Abrigo will add functionality to our commercial loan origination system to support upcoming compliance requirements once the final decisions have been made on the CFPB side.

Data 195

Data Lending Compliance Resources 195

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

APRIL 18, 2024

Without open banking, consumers struggle to switch between bank deposit and lending offerings. Impact on Consumers The implications of the CFPB’s regulation on open banking will be enormous for consumers, banks, and data providers.

Cards 221

Cards Data Regulation Apple 221

FICO

NOVEMBER 21, 2022

FICO Ranks Top 5 in the 2023 Chartis RiskTech100® Report. FICO awarded first place in six categories on risk and compliance technology in the 2023 Chartis RiskTech100 ® Report, including Innovation for the sixth year in a row. asokolowski. Fri, 06/03/2022 - 12:24. by Darryl Knopp. expand_less Back To Top. See all Posts.

Report 52

Report Risk Management Compliance Innovation 52

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

CFPB Monitor

MAY 4, 2023

The FDIC recently announced that it has entered into a Consent Order with Cross River Bank (CRB or Bank) to resolve FDIC charges that the Bank engaged in unsafe or unsound practices related to its fair lending compliance. (The The Consent Order was issued in March 2023 but not made public until the end of last month.) .

FDIC 78

FDIC Compliance Fintech Lending 78

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

MAY 24, 2023

Download now Takeaway 1 Under current federal law, banks and credit unions face federal prosecution and penalties if they provide services to legal marijuana-related businesses. 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.

Lending 195

Lending Fraud Operations Ohio 195

Abrigo

AUGUST 13, 2024

Banking on Fraudology Banking on Fraudology is hosted by Hailey Windham, CFCS, who was named a 2023 CU Rockstar. Episodes include insights into occupational fraud trends, navigating difficult discussions with examiners, using AI in compliance and risk management, and fraud within homeowners associations.

Fraud 221

Fraud Community Community Bank Lending 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 195

Training Compliance Fraud Policies 195

American Banker

MARCH 22, 2024

The FDIC Office of Inspector General attributed the downfall of Citizens Bank in November 2023 to lax lending practices and risk mismanagement by the Lange family, causing a $14.8 million loss to the regulator's Deposit Insurance Fund. The OIG saw no grounds for a more extensive review.

FDIC 41

FDIC Risk Management Iowa Lending 41

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.

Conference 195

Conference Arizona Phoenix Fraud 195

Perficient

NOVEMBER 10, 2023

Retail banks respond to the Federal Reserve’s short-term interest rate adjustments with corresponding changes in lending and deposit rates. In the first quarter of 2023, these balances plunged over 40% due to reported U.S. bank failures but rebounded in the second quarter.

Risk Management 221

Risk Management United States FDIC Compliance 221

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.

Lending 128

Lending Illinois Compliance Chicago 128

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

American Banker

MARCH 7, 2024

Net income at the nation's more than 4,000 banks dipped markedly in the final quarter of 2023, though for the full year it exceeded pre-pandemic averages. Deterioration in commercial real estate and credit card lending is a concern, FDIC Chairman Martin Gruenberg says.

FDIC 73

FDIC Report Lending National 73

South State Correspondent

JULY 19, 2023

The market expects deposit betas to increase through 2023 and 2024. Derivative Usage An inverted yield curve makes competition challenging for banks that do not use interest rate swaps in conjunction with their lending. Regulatory compliance and reporting can be complex and confusing. There are no ongoing or upfront costs.

Community Bank 195

Community Bank Community Compliance Marketing 195

Abrigo

OCTOBER 22, 2024

FinCrime fighters aren’t just checking boxes for compliance. Federal Trade Commission (FTC) reported consumers lost more than $10 billion to fraud alone in 2023. These professionals rarely get the spotlight, but they are the first line of defense against threats like identity theft, drug traffickers, and terrorist groups.

Security 221

Security Fraud Community National 221

Perficient

MARCH 3, 2022

Federal bank regulators work together to design Comprehensive Capital Analysis and Review (“CCAR”) stress tests that are designed to ensure that even in the case of a severe recession, significant banks can lend to households and businesses. dollar against those countries’ currencies.

Capital 294

Capital Regulation United States Exercises 294

Abrigo

MARCH 21, 2023

4.75% over the course of 2022 and 2023. With signs continuing to point toward additional rate hikes, albeit smaller, many financial institutions are uncertain how they can and should manage their balance sheets to effectively combat interest rate risk both in the present moment and to come in 2023 and beyond. billion – a 39.7%

Risk Management 195

Risk Management Management Strategy Lending 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.

Policies 195

Policies Data Examples Lending 195

Abrigo

OCTOBER 14, 2022

In a recent Abrigo webinar, four experts weighed in to pinpoint the following areas for focus and improvement in 2023. Financial institutions should have an LOS system in place or other means to cover this new reporting task before the compliance date arrives. Lending & Credit Risk. Lending & Credit Risk.

Risk Management 195

Risk Management Management Policies Lending 195

FICO

MAY 2, 2023

I sat down with UK lenders in two roundtable discussions in March to explore the different approaches being taken to Consumer Duty compliance. Whilst the challenges came through loud and clear, it was also apparent that the potential upsides are clearly understood.

Compliance 52

Compliance How To Tools Strategy 52

FICO

APRIL 21, 2023

Dale is a featured panelist at FICO World 2023. This in turn should increase financial inclusion and lending opportunities for credit challenged customers. Q: Dale, to start with, can you provide a little background on your business motivation as a credit risk executive for exploring the value of consumer-permissioned DDA data?

Data 52

Data Lending Trends Branding 52

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. .

West Virginia 195

West Virginia Virginia Data Community 195

Jeff For Banks

APRIL 4, 2024

Such as direct lending funds, and insurance companies. Shadow bank lending is similar to bank lending but is not subject to the same regulations, and compensating deposit balace requirements. And, according to some EDP students that are lenders, are turning to the shadow banking market that do not have deposit demands.

Banking Trends 110

Banking Trends Trends Millennials Oregon 110

American Banker

DECEMBER 16, 2022

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Compliance 45

Compliance Community Bank Industry Community 45

CFPB Monitor

NOVEMBER 18, 2021

It is clear from the title of the CFPB’s press release announcing the assessment, “ CFPB Seeks Input on Detecting Discrimination in Mortgage Lending ,” that the CFPB is treating this assessment as an initiative addressing fair lending.

Compliance 78

Compliance Data Lending Operations 78

Jeff For Banks

JUNE 17, 2024

This is in spite of the average balance per account in interest checking growing 44% between the first quarter of 2007 to the fourth quarter of 2023. Look at how so many banks have significantly curtailed consumer lending. The average balance per account of non-interest checking accounts grew 152% during that same period.

Regulation 110

Regulation Retail Fraud Operations 110

CFPB Monitor

MAY 22, 2020

Accordingly, Fed-member state banks supervised by the Fed and non-member state banks and savings associations supervised by the FDIC will be subject to different CRA compliance frameworks than national banks and federal savings associations supervised by the OCC.

FDIC 78

FDIC Lending Retail Compliance 78