Abrigo

DECEMBER 27, 2022

Fraud trends for financial institutions to watch for in 2023 Financial institutions should not expect a slowdown of any of 2022’s fraud trends. Be on the lookout in 2023 for the following trends identified by the FBI. No fraud decrease likely for 2023. Current economic indicators do not bode well for fraud stabilization in 2023.

Trends 195

Trends Fraud cryptocurrency Software 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

Jeff For Banks

JUNE 17, 2024

If the CFPB was so concerned about fees charged by banks, perhaps they should perform an analysis of over regulation that is a key contributor to fees charged by banks? Regulators must not have read that article. What do regulators think will happen? I cannot lay the sole blame at the feet of regulators.

Regulation 110

Regulation Retail Fraud Operations 110

Abrigo

FEBRUARY 14, 2024

Find commercial real estate risks in the loan portfolio Sound risk management practices in commercial real estate lending help lenders manage CRE credit losses and protect the portfolio's profitability. office buildings with a vacancy rate over 95% declined to 60% in Q2 2023 from 63% in Q1 2020, or pre-pandemic.

Risk Management 195

Risk Management Management Lending Capital 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. 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. But compliance deadlines are tiered.

Compliance 195

Compliance Lending Data Regulation 195

Gonzobanker

FEBRUARY 1, 2023

Scottdale, Arizona was chillier than normal this week, but that didn’t prevent bankers from having heated discussions about 2023 at this year’s Acquired or Be Acquired conference, hosted by Bank Director. However, most bankers were optimistic that deals would pick up later in 2023 and that the chances of a raging 2024 are strong.

Arizona 135

Arizona Kansas City Industry Fintech 135

CFPB Monitor

AUGUST 11, 2022

The FHFA announced that Fannie Mae and Freddie Mac will require mortgage servicers to maintain certain fair lending data elements, including the borrower’s age, race, ethnicity, gender, and preferred language. The fair lending data must be stored in a searchable format, and must transfer with servicing throughout the loan term.

Lending 78

Lending Data Regulation Policies 78

PYMNTS

DECEMBER 23, 2019

The same framework should be in place to improve technology used by regulators in efforts to strengthen supervision throughout the industry, the think tank also says. billion by 2023, up from an estimated $4.5 The risk and safety lines with AI in China in the finance sector appear to be blurring. trade war.

Regulation 202

Regulation Groups Policies Big Data 202

Perficient

APRIL 18, 2024

Impact on Consumers The implications of the CFPB’s regulation on open banking will be enormous for consumers, banks, and data providers. Without open banking, consumers struggle to switch between bank deposit and lending offerings. Traditionally, banks hoarded financial data, sharing it sparingly on a need-to-know basis.

Cards 221

Cards Data Regulation Apple 221

FICO

JANUARY 19, 2023

While UK support will continue through 2023, and possibly into 2024, we can expect to see it provided on a more targeted basis as governments face rising debt burdens as a proportion of GDP. Here are my three predictions for risk management and customer treatment in 2023. The challenge will be further exacerbated as an estimated 1.4

Lending 52

Lending Strategy Analytics Data 52

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. Abrigo's most popular risk management blogs over the last 12 months cover topics that continue to catch the attention of professionals and regulators.

Risk Management 221

Risk Management Regulation Management Lending 221

Perficient

JULY 12, 2023

Perficient provides risk management to more than 500 financial services organizations, many of whom have multiple bank regulators. Often an organization will have a state-charted non-member bank, which has the FDIC as its primary federal regulator.

Management 221

Management Risk Management Regulation Compliance 221

Gonzobanker

AUGUST 24, 2023

Holding these assets can impact profitability because banks can’t lend those funds out or invest them at higher rates. The Credit Card Competition Act of 2023 could negatively impact banks’ ability to generate interchange fees and reduce the amount of capital they issue, however. Commercial real estate loans. 5) The political element.

Innovation 139

Innovation United States Industry Technology 139

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

AUGUST 30, 2024

Wake of 2023 bank failures Federal Housing Finance Agency review prompts reform The Federal Home Loan Bank (FHLB) system faces potential changes in its structure, operations, and mission that could affect financial institutions. These FHLBs continued to lend to the member banks despite clear deterioration of their financial status.

San Francisco 195

San Francisco Risk Management New York Capital 195

South State Correspondent

MAY 9, 2023

The regulators are considering three options: raising the limit above $250k, raising the cap for only certain accounts (such as banks’ business accounts), or eliminating the cap entirely. With the collapse of First Republic Bank, the 2023 total of failed bank assets is now a new annual record – as shown in the graph below.

FDIC 195

FDIC Regulation Capital Management 195

CFPB Monitor

NOVEMBER 15, 2022

invalidating the payday lending rule) was incorrect. For example, if the CFPB’s mortgage regulations are vacated, mortgage lenders would have to immediately modify annual disclosures and borrowers could rescind transactions that had relied on regulatory disclosure exceptions.

Exercises 148

Exercises Lending Conference America 148

CFPB Monitor

JULY 5, 2023

On June 29, 2023, Connecticut’s Governor signed into law Substitute Senate Bill No. The new law takes effect on October 1, 2023. Under the current law, the APR is calculated under the provisions of the federal Truth-in-Lending Act and associated regulations. . Continue Reading

Connecticut 78

Connecticut Lending Regulation 78

CFPB Monitor

OCTOBER 19, 2022

Effective January 1, 2023 through December 31, 2023, these exemption thresholds are increased as follows: Smaller loans exempt from the appraisal requirement for “higher-priced mortgage loans” are increased from $28,500 to $31,000.

Regulation 78

Regulation Lending Security 78

Gonzobanker

JANUARY 4, 2023

But the business goals and the measurements of success lie with the retail banking, business banking, and lending groups. Risk plan – Operational risk management is a company-wide discipline that has become the focus of regulators, boards, and the “C” level. The CIO is in the middle of these plans, but very likely is not leading them.

Technology 78

Technology System Software Groups 78

Independent Banker

DECEMBER 31, 2022

I’ve always been a glass-half-full guy, and though 2023 is expected to be a challenging economic year, it also brings opportunity. I encourage you to join us and lend your voice to supporting these and other advocacy efforts, which will shape the policy landscape. Priorities for a successful 2023. My Top Three.

Community Bank 218

Community Bank Community Hawaii Washington 218

Abrigo

AUGUST 13, 2024

Banking on Fraudology Banking on Fraudology is hosted by Hailey Windham, CFCS, who was named a 2023 CU Rockstar. He hosts banking executives, regulators, and association leaders to talk about critical issues in banking. She’s passionate about educating people and credit unions on scams and how to avoid them.

Fraud 221

Fraud Community Community Bank Lending 221

Abrigo

OCTOBER 14, 2022

Takeaway 3 Utilize regulatory guidance to understand regulators' expectations, which are likely to include consistent stress testing. In a recent Abrigo webinar, four experts weighed in to pinpoint the following areas for focus and improvement in 2023. Get to know regulator expectations and priorities. Cultivate talent.

Risk Management 195

Risk Management Management Policies Lending 195

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. The regulation, expected to be finalized in weeks, outranked BSA/AML rules, beneficial ownership requirements, and current expected credit loss (CECL) obligations.

Data 195

Data Lending Compliance Resources 195

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

JANUARY 30, 2024

Consistently rated a top industry event by attendees, ThinkBIG brought together 650 people from banks, credit unions, and partners in 2023. Attendees staying at the resort can take advantage of two world-class golf courses, tennis or pickleball, or escape to the Tierra Luna Spa, a Forbes 2023 four-star Spa Award Winner.

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. Transaction Accounts Regulators classify transaction accounts under the Monetary Control Act of 1980 and the Federal Reserve Regulation D for federal reserve requirements on deposit liabilities.

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

BankUnderground

JULY 10, 2024

In this post, we use novel Securities Financing Transaction Regulation (SFTR) data to highlight new, and corroborate previous, stylised repo haircut facts. Dealers include prime brokers and other banks that typically extend cash lending to NBFI clients that rely on the bilateral gilt repo market for their liquidity and collateral operations.

Marketing 126

Marketing Security Lending Data 126

BankUnderground

NOVEMBER 13, 2024

Macroeconomic evidence suggests that this ‘ global financial cycle ’ is largely driven by US monetary policy: expansionary policy by the Federal Reserve drives increases in lending globally, while contractionary Fed policy leads to a tightening of global financial conditions.

Policies 102

Policies Lending US Chicago 102

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. As repeated by federal bank regulators, the required economic scenarios are not forecasts.

Capital 294

Capital Regulation United States Exercises 294

FICO

MAY 25, 2023

Home Blog Feed test AI Development Can’t Be Paused—But It Can Be Regulated Since Generative AI is here to stay, ChatGPT’s base grew by 9,900% in 60 days, with 1.8 But it is possible to mitigate further wrongs by regulating artificial intelligence, and I believe effective proposed regulation should start from organizations using AI.

Regulation 52

Regulation San Diego Analytics blockchain 52

Abrigo

DECEMBER 18, 2023

Critical capital Should CRE lending be off the table? Recent headlines may lead bankers to believe that shunning commercial real estate lending is the safest path to limit or avoid credit risk, given stresses on CRE and regulatory concerns. But that might not be the best move for your financial institution or your community.

Risk Management 221

Risk Management Management Lending Capital 221

CFPB Monitor

NOVEMBER 13, 2023

On October 24, 2023, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a final rule amending their regulations implementing the Community Reinvestment Act (“CRA”) (the “Final Rule”). Continue Reading

Community 78

Community Regulation System FDIC 78

CFPB Monitor

FEBRUARY 20, 2024

The FTC recently sent its annual letter to the CFPB reporting on the FTC’s activities related to the Equal Credit Opportunity Act (ECOA) and Regulation B. The new letter reports on the FTC’s activities in 2023. The Bureau includes the FTC’s annual letter in its own annual report to Congress on the ECOA. Continue Reading

Report 78

Report Regulation Lending 78

Abrigo

OCTOBER 16, 2023

A gap institution is a financial institution that does not have a federal functioning regulator, such as a state-chartered credit union. million civil money penalty for willful violations of the BSA and its implementing regulations. FinCEN assessed a $1.5

Training 221

Training Compliance Fraud Policies 221

Abrigo

OCTOBER 28, 2022

Takeaway 1 Signs point to increased loan modifications and loan workouts, and regulators have urged financial institutions to work prudently with borrowers. . Meanwhile, regulators are focusing fresh attention on prudent credit risk management of loans, especially CRE, and loan modifications in general. CRE loan accommodations.

Management 195

Management Risk Management Policies Lending 195