Perficient

FEBRUARY 15, 2024

These DFS500 amendments signal a crucial shift in the regulatory landscape, emphasizing the imperative for robust governance, risk management, and compliance frameworks across the financial industry. 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

DECEMBER 27, 2023

YOU MAY ENJOY: Regulatory Reporting in Financial Services Modernizing CRA Regulations Managing compliance risk frameworks in alignment with existing risk profiles is crucial as customer needs evolve. The effective date of the new rule is April 1, 2024, with key provisions taking effect on January 1, 2026, and January 1, 2027. Banks

Compliance 221

Compliance FDIC Regulation Fraud 221

South State Correspondent

JANUARY 16, 2024

Bloomberg recently announced that it will shut down its BSBY index on November 15, 2024. We published various articles comparing community bank alternatives to LIBOR (such as SOFR, Ameribor, Fed Funds, and Prime). Historically, community banks have hesitated to adopt derivatives for several reasons. No ISDA documents.

Community Bank 195

Community Bank Community Compliance CA 195

Abrigo

MAY 30, 2023

But compliance deadlines are tiered. 1, 2024, and report for the first time by June 1, 2025. 1, 2024, and report for the first time by June 1, 2025. 1, 2024, is the earliest compliance deadline. Below are details on important dates for 1071 compliance and what the changes involve.

Compliance 195

Compliance Lending Data Regulation 195

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. Early 2024 figures show a dip in DSCR to 4.62x. However, recent data from Abrigo shows that privately held companies across the U.S.

Lending 221

Lending Meeting Data Risk Management 221

CFPB Monitor

OCTOBER 26, 2023

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

Community 78

Community FDIC Compliance Regulation 78

Independent Banker

DECEMBER 31, 2022

Community banks must continue to stay focused on regulatory discussions and remain nimble to respond to proposals and address requirements quickly and accurately. The FDIC issued guidance about the consumer compliance risks associated with assessing NSF arising from the re-presentment of the same unpaid transaction. Quick Stat.

Compliance 100

Compliance FDIC Community Bank Community 100

Jeff For Banks

DECEMBER 10, 2024

As a point of reference, the S&P US BMI Bank Total Return Index for the five years ended December 6, 2024 was 34.55%. They were under an FDIC consent order from 2014 through 2020 relating to their BSA and OFAC compliance and their relationship with third parties seeking access to the banking system. M&F Bancorp, Inc.

Las Vegas 70

Las Vegas Lending Community Bank North Carolina 70

Abrigo

SEPTEMBER 17, 2024

You might also like this on-demand webinar, "Navigating uncertain times: Strategies for effective risk management and compliance." Strategies for 2024 Key components of managing interest rate risk These five areas of focus can help financial institutions improve their standing and prepare for the future. Make informed decisions faster.

Strategy 221

Strategy Risk Management Lending Management 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.

Data 195

Data Lending Compliance Resources 195

Abrigo

JANUARY 22, 2024

These tips can help ensure compliance while improving your offerings. billion in losses globally last year, according to Nasdaq’s  2024 Global Financial Crime Report. For An informed and vigilant community is a powerful deterrent against fraud. download NOW Takeaway 1 Fraud losses totaled $485.6 billion globally last year.

Fraud 221

Fraud Risk Management Training Software 221

Abrigo

SEPTEMBER 25, 2024

Banks have issued 59,833 approved 7(a) loans so far in fiscal 2024, up 53% from 2020. 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. Credit unions have handled 1,634 approved 7(a) loans this year, up nearly 40% from 2020.

Lending 221

Lending St. Louis Fraud Software 221

Gonzobanker

DECEMBER 14, 2023

Not the financial industry’s “Troublemakers ” – those regional and community banks, credit unions and supporting fintech entrepreneurs who continue to engage customers and communities and find niches that keep the grassroots of our country’s financial system alive and kicking. Expect more deals to be announced in 2024.

Fintech 192

Fintech Community Regional Technology 192

American Banker

FEBRUARY 14, 2024

New regulations involving cryptocurrency and the results of key elections will impact the industry's success this year.

cryptocurrency 83

cryptocurrency Regulation Industry Cyber Security 83

CFPB Monitor

JUNE 25, 2020

On May 20, 2020, the OCC issued a final rule to “strengthen and modernize” its existing Community Reinvestment Act (“CRA”) regulations. The final rule is effective October 1, 2020 but sets mandatory compliance dates based on the applicable performance standards. Small and intermediate banks must comply with the rule by January 1, 2024.

Community 97

Community Lending Meeting Retail 97

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. Office buildings are emptying around the U.S., EDP students think this could have a significant impact on their banks.

Banking Trends 113

Banking Trends Trends Millennials Oregon 113

South State Correspondent

JUNE 27, 2023

While this is mostly the domain of large banks, there are three reasons why your community bank should consider adopting this language to increase future bank performance. Improved Data Quality: The ISO 20022 message formats are data-rich, allowing more information to be communicated per transaction.

System 195

System Data Examples Payments 195

South State Correspondent

OCTOBER 25, 2023

This cost includes receiving checks, scanning, providing checks, check security, data verification, check data management, compliance, fraud management, customer service for transactions, handling complaints, dispute resolution, and exception handling. This is the Rubicon in check processing.

Fraud 195

Fraud ATM Payments Management 195

CFPB Monitor

MAY 22, 2020

The OCC has issued a final rule revising its regulation implementing the Community Reinvestment Act (CRA). The final rule is effective October 1, 2020 but sets mandatory compliance dates based on the applicable performance standards. The final rule applies to national banks and federal savings associations.

FDIC 78

FDIC Lending Retail Compliance 78

Accenture

AUGUST 26, 2019

Banks can now even leverage ISO 20022 and APIs as the standard for data exchange in payments within the applicable regulatory and compliance requirements. They aim to complete the migration by the end of 2024 to be in sync with global adoption.

Industry 203

Industry Payments System Guidelines 203

CFPB Monitor

JUNE 15, 2020

On May 20, 2020, the OCC issued a final rule to “strengthen and modernize” its existing Community Reinvestment Act (“CRA”) regulations. of Community Development Fund Advisors. ET, Ballard Spahr will hold a webinar, “The OCC Issues Final CRA Rule – What Changed and What’s Next?” Thomas, Ph.D.,

Community 60

Community FDIC Lending Examples 60

American Banker

SEPTEMBER 18, 2024

Only one de novo has opened in 2024, while more than 100 launched annually prior to the 2008 financial crisis. Experts don't agree on how to solve the problem.

How To 41

How To Community Bank Community Compliance 41

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 2024. Compliance deadline for small and intermediate banks. March 2020.

Compliance 15

Compliance Community Regulation Branding 15

American Banker

DECEMBER 21, 2023

Now as it waits for regulatory approval, Provident says the process will stretch into spring 2024. Provident Financial in Iselin initially anticipated completing its deal for Oak Ridge-based Lakeland Bancorp in the second quarter.

New Jersey 36

New Jersey Community Bank Community Compliance 36

Fintech Labs Insights

AUGUST 9, 2024

Small Businesses (SMB) in July 2024 The 37 Biggest Fintech Conferences & Events in 2024 The 13 Biggest Fintech Awards Shows in 2024 Event details are up-to-date at the time of original publication, but always check with the event for the latest information. And please contact us if you would like to have your event listed.

Las Vegas 15

Las Vegas Technology Industry Conference 15

Fintech Labs Insights

SEPTEMBER 4, 2024

Related: The 37 Biggest Fintech Conferences & Events in 2024 Top 7 Conferences for Fintech & Financial Institution Developers & CTOs in 2024 The 9 Biggest AI Conferences for Financial Services, Banking & Fintech in 2024 And please contact us if you would like to have your event listed.

Las Vegas 15

Las Vegas Technology San Diego Conference 15

American Banker

SEPTEMBER 11, 2024

When it comes to delivering superior return on average equity, smaller banks frequently punch above their weight, according to a recent study by Capital Performance Group and American Banker.

Study 78

Study Capital Groups Community Bank 78

Fintech Labs Insights

AUGUST 22, 2024

Europe 2024 (London): Corsound AI: AI company advancing in sound recognition technologies, expanding market reach, receiving favorable industry reviews and increasing investment interest. Themis: Raised $9M, compliance and governance tech gaining steady traction, particularly with larger corporate clients. SAVVI AI : Raised $5.6M

San Francisco 15

San Francisco New York San Jose Tools 15

CFPB Monitor

JANUARY 28, 2021

The fate of the OCC’s Community Reinvestment Act (“CRA”) final rule , issued on May 20, 2020, hangs in the balance following the inauguration of President Biden on January 20 and the resignation of former Acting Comptroller Brian Brooks, who was a major proponent of the rule, on January 14.

Community 131

Community FDIC Lending Survey 131

Abrigo

JANUARY 31, 2023

Recap and forecast The current state of AML/CFT regulations Terminology change Financial crime professionals have long referred to Bank Secrecy Act (BSA) compliance in conjunction with anti-money laundering efforts as “BSA/AML.” This is to be issued no later than one year after the effective date of the BOI Reporting Rule (January 1, 2024).

Fraud 195

Fraud Training Regulation Trends 195

South State Correspondent

DECEMBER 5, 2024

more next year than compared to 2024. CB Insights Earnings Call Analytics reports 1,271 mentions of cryptocurrency and related items as of Q3 2024 on earnings calls by analysts and financial service executives. While technology budgets are always difficult to compare, banks are expected to spend 4.7%

Trends 195

Trends Technology Data Apple 195

FICO

JANUARY 5, 2023

While a final rule implementing section 1033 of the Dodd-Frank Act will not be issued until 2024, knowing that “rules of the road” are now on the way is sure to add more momentum to open banking initiatives. For Public Companies, Cybersecurity Compliance with New SEC Rules will be a Top Priority.

Policies 52

Policies Company Regulation Risk Management 52