Perficient

FEBRUARY 29, 2024

This blog was co-authored by Perficient’s Chief Strategist and banking expert: Scott Albahary A slowing global economy, coupled with a divergent economic landscape, poses challenges for the banking industry in 2024. Facilitation of embedded lending while ensuring compliance: Embedded finance initiatives must adhere to regulatory requirements.

Trends 221

Trends Industry Analytics Compliance 221

Abrigo

JUNE 28, 2024

Navigating interest rate management in today's environment As regulators focus on interest rate risk management, read about what financial institutions can do to be ready for a rate drop. You might also like this on-demand webinar, "Navigating uncertain times: Strategies for effective risk management and compliance." Upcoming exam?

Community Bank 195

Community Bank Strategy Community Management 195

Perficient

NOVEMBER 21, 2024

The compliance deadline, however, depends on the firm’s total receipts from calendar years 2023 and 2024. Impact on consumers Without open banking, consumers struggle to switch between bank deposit and lending offerings. The ruling demands action from all non-depository firms (e.g.,

Compliance 221

Compliance Data Cards Meeting 221

Abrigo

MAY 30, 2023

1, 2024, and report for the first time by June 1, 2025. Final rule Effective dates & compliance dates for rule 1071 As they do with any new requirement, financial institutions want to know when the CFPB 1071 rule is effective and when they must begin collecting and reporting data on their small business lending activities.

Compliance 195

Compliance Lending Data Regulation 195

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. In AGC’s 2024 outlook report , 64% of contractors named rising interest rates and financing costs as one of their biggest concerns.

Risk Management 195

Risk Management Management Lending Capital 195

Abrigo

OCTOBER 17, 2023

Why change management is vital for banks and credit unions Regulators promote change management to manage risk, but banks and credit unions can also achieve important benefits when they manage change. This article describes recent comments by financial regulators about managing change.

Management 195

Management Lending Risk Management Strategy 195

Perficient

APRIL 18, 2024

Without open banking, consumers struggle to switch between bank deposit and lending offerings. Open banking transforms the way financial data is shared and accessed, allowing third-party data providers and other banks to access financial data in traditional banking systems through application programming interfaces (APIs).

Cards 221

Cards Data Regulation Apple 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. 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

DECEMBER 28, 2023

Papers, infographics on risk management Resources related to banking headlines were popular For banking risk and accounting staff, managing challenges tied to interest rates, liquidity, and credit portfolios will remain top-of-mind in 2024. Find out what auditors and regulators will be looking for as it relates to CECL.

Resources 221

Resources Risk Management eBook Strategy 221

PYMNTS

FEBRUARY 26, 2020

After a reporting error that caused the exit of its chief executive and chairman in 2019, Metro Bank has announced that it is scaling back its expansion efforts and moving away from lending for mortgages, according to a report by the Financial Times. After the error was revealed, the bank was forced to raise $484 million in new shares.

Metro 187

Metro Report Lending Regulation 187

Abrigo

OCTOBER 14, 2022

Takeaway 3 Utilize regulatory guidance to understand regulators' expectations, which are likely to include consistent stress testing. Get to know regulator expectations and priorities. Regulators’ risk management perspective is evolving, and financial institutions should expect to be held accountable for consistent stress testing.

Risk Management 195

Risk Management Management Policies Lending 195

South State Correspondent

APRIL 9, 2024

For example, at the start of 2024 the market expected six interest rate cuts, while at the time of writing this article the market expects only 2.6 cuts in 2024 (65 bps) and the borrowing rate should already reflect this in the inverted yield curve. NOCRE is already scrutinized by bank regulators.

How To 195

How To Community Community Bank Marketing 195

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

BankBazaar

AUGUST 12, 2021

The lending industry has evolved with time, and now thanks to BNPL plans, the world has more options to pay for its needs than ever before. These new-age lenders challenge the traditional lending industry by offering no-cost EMIs in a more consumer-friendly model. Looking for a safer and a more regulated line of credit?

Lending 78

Lending Cards Online Industry 78

Abrigo

FEBRUARY 16, 2024

It's about ensuring that every aspect of your lending operation is optimized for efficiency and effectiveness. Kirby also recommends identifying the concentrations in your loan portfolio so regulators can see that you are planning for the future of whatever industries your financial institution specializes in.

Training 195

Training Risk Management Analysis Policies 195

South State Correspondent

JANUARY 16, 2024

Bloomberg recently announced that it will shut down its BSBY index on November 15, 2024. BSBY was not well received by US regulators from its inception, but the market eventually embraced SOFR over BSBY. The reason for the cessation of BSBY is simple – lack of use.

Community Bank 195

Community Bank Community Compliance CA 195

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. From previous work we know some stylised facts about haircuts in the repo market, eg Kotidis and van Horen (2018) , Julliard et al (2022) , and Hüser et al (2024). What are repos?

Marketing 126

Marketing Security Lending Data 126

Abrigo

AUGUST 5, 2024

Modern check fraud detection software enhances check verification processes with several sophisticated tools Introduction Why counterfeit check detection matters in 2024 Financial fraud is becoming more sophisticated in today's world, and counterfeit checks and duplicate check deposits are significant threats.

How To 195

How To Fraud Training Software 195

South State Correspondent

APRIL 30, 2024

Loan-level hedging has become an important tool that many community banks have started to adopt in 2024. Lending Discipline : Sensible pricing methodology is part of a loan hedging program, and some hedge providers also offer a loan pricing model. Community banks do this profitably by turning transactional accounts into relationships.

Community Bank 195

Community Bank FDIC Community National 195

South State Correspondent

APRIL 30, 2024

Loan-level hedging has become an important tool that many community banks have started to adopt in 2024. Lending Discipline : Sensible pricing methodology is part of a loan hedging program, and some hedge providers also offer a loan pricing model. Community banks do this profitably by turning transactional accounts into relationships.

Community Bank 195

Community Bank FDIC Community National 195

South State Correspondent

NOVEMBER 6, 2024

The conference is all about sales, partnerships, and deal-making, with 2024 being right at the baseline. As such, many fintech hopes were dashed by the end of the conference and will have to wait until better standards/guidance emerge (2025), infrastructure emerges (available), and the regulators get comfortable (likely one to two years).

Conference 195

Conference Payments Fraud Apple 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

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.

Lending 52

Lending Strategy Analytics Data 52

Jeff For Banks

OCTOBER 14, 2024

And the dilution of what it means to be a community bank has been diminished not just by interlopers pretending to be sheep in wolf's clothing, but also regulators, and unfortunately, community banks themselves. The so-called fingers pointing back at us. We have not done a good job explaining what a community bank is.

Community Bank 98

Community Bank Community Capital Lending 98

Abrigo

JUNE 27, 2024

Show your board of directors and leadership an outline of what it will take to prepare for FedNow at your institution. Show your board of directors and leadership an outline of what it will take to prepare for FedNow at your institution.

Examples 221

Examples Fraud Report Training 221

PYMNTS

OCTOBER 10, 2019

Rising Know Your Customer and other risk mitigation regulations have the financial services world eyeing digital identity technology. billion valuation by 2024, according to the latest PYMNTS Digital Identity Tracker. Already seeping into the consumer services world, digital identity technology is expected to hit a $12.8

Strategy 124

Strategy Lending Knowledge Base Tools 124

Fintech Labs Insights

JULY 1, 2024

Financial services might not have the most number of regulations (manufacturing wins that crown with 217,000), but there is no industry where so much of their day-to-day operations are governed by ever-changing rules, guidance and industry standards. They even have their own acronyms (KYC, AML, etc).

Conference 15

Conference Fintech DC Washington 15

CFPB Monitor

MAY 22, 2020

The OCC has issued a final rule revising its regulation implementing the Community Reinvestment Act (CRA). Unlike the proposal, does not contain benchmarks for the CRA evaluation measure, a specific community development lending and investment minimum, or thresholds for the retail lending distribution tests.

FDIC 78

FDIC Lending Retail Compliance 78

Abrigo

NOVEMBER 13, 2023

Regulators expect financial institutions to develop loan review or credit review systems tailored to their specific risks and circumstances. Rather, it is an internal accounting facility that transfers loan authority from a higher lending source to a lower one for a specific period of time under specific conditions.

Analysis 195

Analysis Lending System Survey 195

Gonzobanker

FEBRUARY 1, 2023

An Expanding Regulatory Perimeter With the collapse of crypto and FTX serving as this generation’s Enron, discussions abounded that the reach of traditional regulators will expand into the fintech, shadow banking, and decentralized finance worlds.

Arizona 135

Arizona Kansas City Industry Fintech 135

Gonzobanker

DECEMBER 14, 2023

Expect more deals to be announced in 2024. The It’s Still No Fun to Work Here Award – goes to the “stagecoach” Wells Fargo , which now is dealing with unionization efforts from employees at certain branches and has set aside $1 billion+ for additional employee severance costs in 2024. The Bank Regulator Working for Merchants Award!

Fintech 190

Fintech Community Regional Technology 190

Bobsguide

MARCH 28, 2022

The research canvassed the opinions of 1,600 senior industry executives, exploring the opportunities presented by Banking as a Service (BaaS) – to provide retail or wholesale banking products and services to customers in context, as a service, using an existing licensed institution’s secure, regulated infrastructure with modern API-driven platforms.

Innovation 60

Innovation Lending social media Retail 60

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. This is the first in a series of five blog posts about the final rule and related topics that we will publish in the next few weeks. Commenters found these standards unclear and inadequate.

Community 60

Community FDIC Lending Examples 60

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. Small and intermediate banks must comply with the rule by January 1, 2024. This is the second in a series of five blog posts about the final rule. Qualifying Activities.

Community 97

Community Lending Meeting Retail 97

PYMNTS

OCTOBER 11, 2019

Max Levchin On The Future-Present Of Everywhere POS Lending. Trending: How EU Regulators Are Complicating SCA Compliance (Ekata PSDS Tracker). According to the PYMNTS PSD2 Tracker , merchants in the European Union (EU) are still wondering what changes the regulation will bring about for their relationships with customers.

Cards 116

Cards Online Houston Digital Banking 116

Gonzobanker

MARCH 21, 2024

The problem is even worse in 2024. Minority small business owners need ‘fair and accessible’ lending. When amending Regulation B of the Equal Credit Opportunity Act, the CFPB wrote: “There is limited data on small businesses’ access to credit. Sounds great, right? But what is it? To the U.S.

Lending 78

Lending How To Capital Data 78

Social Assurance

JULY 17, 2020

Deadlines for complying with the new OCC CRA regulations are coming. Now is the time to prepare your financial brand for the new regulations if you fall under OCC regulation. Compliance Deadlines for New CRA Regulations. January 2024. March 2020. Comments and the final rule are available online. October 2020.

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Compliance Community Regulation Branding 15