Abrigo

JANUARY 24, 2024

Account for the details before your FDIC bank acquisition Consider these tips for assessing your institution and a to-be-acquired institution for a smooth integration You might also like this webinar, "Valuation and purchase accounting: Navigating the changing M&A landscape."

FDIC 195

FDIC Regulation Strategy Data 195

Banking Exchange

APRIL 14, 2021

Public’s input sought on potential modernization of advertising and signage rules to better reflect how banks operate Compliance Retail Banking Customers Performance People Compliance Management Compliance/Regulatory Consumer Compliance Feature3 Feature Financial Research Duties Financial Trends.

FDIC 122

FDIC Compliance Trends Retail 122

Perficient

AUGUST 16, 2023

A rather small bank, as of the end of its first quarter, the bank reported $139 million in total assets and $130 million in total deposits in its FDIC Call Report. Heartland Tri-State began operations in 1985 under the name First National Bank of Elkhart. bank to fail this year.

United States 221

United States Kansas FDIC Risk Management 221

Perficient

JULY 12, 2023

Often an organization will have a state-charted non-member bank, which has the FDIC as its primary federal regulator. The guidance emphasizes that using third parties, especially those using new technologies, may present elevated risks to banking organizations and their customers, including operational, compliance, and strategic risks.

Management 221

Management Risk Management Regulation Compliance 221

CFPB Monitor

JUNE 13, 2022

One issue raised in the RFI is “to what extent should the CFPB be consulted by the FDIC when considering the convenience and needs factor and should that consultation be formalized?”. Whether the FDIC finds these arguments persuasive is yet to be seen.

FDIC 78

FDIC Groups Community Meeting 78

CFPB Monitor

JUNE 18, 2019

Last week, the FDIC published its Consumer Compliance Supervisory Highlights that provides observations about its consumer compliance supervision activities in 2018. The FDIC’s anonymized exam findings include: Overdraft Programs. Real Estate Settlement Procedures Act (“RESPA”) Section 8 Violations.

FDIC 60

FDIC Compliance Regulation Training 60

Perficient

OCTOBER 27, 2022

Seeking additional arrows in their quiver against large bank failures, on October 14, 2022, the Federal Reserve Board (FRB) and Federal Deposit Insurance Corporation (FDIC) published an Advance Notice of Proposed Rulemaking (ANPR). Both the FRB and FDIC will accept comments and answers for 60 days after publication in the Federal Register.

Capital 275

Capital Regulation FDIC Regional 275

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. In effect, Cross River is in time out.

Compliance 109

Compliance FDIC Strategy Fintech 109

CFPB Monitor

MARCH 24, 2020

The FDIC has issued a proposed rule setting forth the conditions it would impose and the commitments it would require to approve a deposit insurance application from an industrial bank or industrial loan company (collectively, ILC) whose parent company is not subject to consolidated supervision by the Federal Reserve Board (FRB).

FDIC 60

FDIC Taxes Industry Company 60

CFPB Monitor

NOVEMBER 11, 2021

The agencies explain that they believe the temporary flexibility is no longer needed “because servicers have had sufficient time to adjust their operations by, among other things, taking steps to work with consumers affected by the COVID-19 pandemic and developing more robust business continuity and remote work capabilities.”.

Compliance 78

Compliance Regulation FDIC Meeting 78

Perficient

JANUARY 25, 2023

Banks are focused on efficiency initiatives to optimize their operations and lower costs. While institutions want to increase their technology play, they are weary of overcomplicating operations. Here are five banking trends we’re forecasting for the new year.

Banking Trends 474

Banking Trends Trends United States FDIC 474

Abrigo

MAY 20, 2022

Meet Model Risk Management Expectations Updates to the FDIC Risk Management Manual should steer institutions toward a model that manages risk and drives growth. FDIC Update. Last April, the FDIC released an Interagency Statement titled Model Risk Management (MRM) for Bank Models and Systems Supporting BSA/AML Compliance.

Risk Management 195

Risk Management Management FDIC Meeting 195

Bank Innovation

JUNE 3, 2019

Varo Money has been striving to get a banking charter for three years. 31, 2018, the digital-only challenger bank finally received conditional approval from the Office of the Comptroller of the Currency. It’s still unclear, however, if the Federal Deposit Insurance Corporation will grant the final approval.

FDIC 170

FDIC Regulation Operations Compliance 170

Abrigo

APRIL 12, 2016

The FDIC is offering a fresh take on how a bank’s board of directors should understand and manage risk. The regulator’s April edition of Supervisory Insights provides what the FDIC called a “refresher” on its Pocket Guide for Directors, the 1988 booklet outlining the basic duties and responsibilities of a bank’s board of directors.

Management 150

Management FDIC Risk Management Community Bank 150

Abrigo

MAY 19, 2023

WATCH Takeaway 1 Loan review officers must figure out how to adhere to the FDIC’s guidance on loan review and credit risk review systems. Takeaway 2 Examining the following objectives and evaluating your loan review system based on them can ensure regulatory compliance.

System 195

System Regulation How To Lending 195

Gonzobanker

OCTOBER 31, 2024

The FDIC issued a consent order against Discover Bank last year for lacking oversight into third-party risk management and a compliance vendor management program. Institutions often outgrow their vendors’ ability to provide hardware to keep operations running smoothly. Vendor management is risky business.

Risk Management 132

Risk Management Management FDIC Software 132

CFPB Monitor

DECEMBER 19, 2019

The OCC and FDIC have issued a joint proposal to revise their regulations implementing the Community Reinvestment Act (CRA). Although the Federal Reserve, OCC and FDIC, are the primary CRA regulators, the Fed did not join the proposal and presumably will issue a separate proposal. ” Click here to register. Our thoughts.

FDIC 78

FDIC Regulation Community Retail 78

Perficient

APRIL 2, 2021

The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the. Office of the Comptroller of the Currency (OCC). Personalization of Customer Services.

Regulation 309

Regulation Industry Risk Management Analysis 309

Independent Banker

SEPTEMBER 25, 2014

This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. As David Barr, spokesperson for the FDIC, points out, “a vast majority of community banks remain well-rated and exhibit satisfactory corporate governance programs and compliance management systems.”.

Compliance 101

Compliance Regulation Community Bank Community 101

Bank Innovation

APRIL 25, 2019

Fintechs are having trouble facing reality when it comes to obtaining bank charters, FDIC Chairman Jelena McWilliams and Comptroller of the Currency Joseph Otting said here at the FDIC’s Fintech and the Future of Banking conference on Wednesday. WASHINGTON, D.C.

Fintech 186

Fintech FDIC Washington Conference 186

American Banker

AUGUST 14, 2023

explored the various credit, market and operational risks facing the banking sector. In its annual report, the Federal Deposit Insurance Corp. It also explored crypto and climate issues.

FDIC 67

FDIC Operations Marketing Report 67

Abrigo

DECEMBER 22, 2023

Those read most often in the past year include several that offer practical advice for operating ALM and CECL models. Now that it’s implemented, it’s crucial to ensure ongoing compliance and efficient management of the allowance for credit losses (ACL). The FASB’s description of proposed changes can be found here.

Risk Management 221

Risk Management Regulation Management Lending 221

PYMNTS

FEBRUARY 15, 2019

As noted in this space late last year, five federal agencies spoke out, and presented a statement that detailed how credit unions and banks could share resources to make Bank Secrecy Act compliance efforts more streamlined. The company has since said it would sue the FT. Beyond individual company news, Newsweek reported that, per the U.S.

Compliance 122

Compliance Fraud United States FDIC 122

PYMNTS

FEBRUARY 8, 2019

The news comes as five federal agencies spoke in October on how credit unions, as well as community banks, can share resources to make BSA compliance streamlined and bolster AML efforts. FDIC) and the Comptroller of the Currency were involved in the discussion.

FDIC 134

FDIC Community Community Bank National 134

CFPB Monitor

MAY 22, 2020

The Federal Reserve, OCC, FDIC, and NCUA have issued “ Interagency Lending Principles for Offering Responsible Small-Dollar Loans.” Effective management of credit, operational, compliance, and other risks.

FDIC 78

FDIC Policies Lending Guidelines 78

Perficient

AUGUST 9, 2022

Institutions must also prioritize regulatory compliance and be vigilant about carrying out consequences when their employees breach these expectations. Building trust is not limited to overarching company leadership.

Community 275

Community Customer Experience ATM Examples 275

CFPB Monitor

DECEMBER 2, 2021

As anticipated, the OCC, Federal Reserve Board, and FDIC recently approved and released the Final Rule Requiring Computer-Security Incident Notification (“Final Rule”). operations, including associated services, functions, and support, the failure or discontinuance of which would pose a threat to the financial stability of the United States.

Regulation 78

Regulation Report FDIC Security 78

CFPB Monitor

SEPTEMBER 14, 2021

It follows the publication at the end of last month of a guide by the Fed, OCC, and FDIC that is intended to assist community banks in conducting due diligence when considering relationships with fintechs. account opening) and the bank continues to interact directly with its customers.

Fintech 78

Fintech Community Bank Community FDIC 78

CFPB Monitor

MAY 6, 2021

Atlanticus/Fortiva performs all of the collections, servicing, payment and remittance operations in connection with the accounts. In 2016, the OCFR brought an enforcement action against CashCall, a nonbank operating a high-rate bank model program. million in penalties against CashCall.

Maryland 78

Maryland Lending Missouri FDIC 78

CFPB Monitor

SEPTEMBER 10, 2020

Thereafter, “using its existing lending operations and personnel, LoanMart commenced ‘marketing’ and ‘servicing’ auto title loans purportedly made by CCBank, a small Utah-chartered bank operating out of Provo, Utah.” Thus, both the OCC and FDIC have adopted regulations rejecting the Second Circuit’s Madden decision.

Utah 78

Utah California FDIC West Virginia 78

CFPB Monitor

NOVEMBER 29, 2021

The 2022 clarity promised by the “roadmap” presumably will supersede, once issued, Interpretive Letter #1179, which appears to function as a general stop-gap until the 2022 publications hopefully provide more detail regarding exactly how banks can attain compliance. Federal banking regulators have been busy in this space.

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

Jeff For Banks

DECEMBER 10, 2023

Although one might argue that First Citizens BancShares of Raleigh is a SIFI as it climbed to the 19th largest in the country with its Silicon Valley Bridge Bank acquisition from the FDIC, and that the FDIC designated SVB as systemically important. Nasdaq: TBBK) Here is this year's list: #1. M&F Bancorp, Inc.

Fresno 98

Fresno North Carolina Raleigh FDIC 98

Independent Banker

SEPTEMBER 25, 2014

Saving money by conducting inside risk management and compliance reviews. As a group, community banks spend substantial funds hiring outside consultants to help with various management functions, and a substantial share of dollars are spent to help oversee their risk management and compliance activities. 73% for compliance audits.

Community Bank 70

Community Bank Compliance Risk Management Community 70

PYMNTS

NOVEMBER 23, 2020

In terms of mechanics, he explained, having a national bank charter in hand from the OCC means Figure will not have to obtain licenses to provide financial services on a state-by-state basis, but instead will be enabled to deliver its offerings on a nationwide basis while tailoring its compliance to the mandates of the OCC as sole regulator.

National 215

National blockchain Montana Lending 215

Abrigo

NOVEMBER 9, 2022

How has CECL implementation impacted their operations and reserves for credit losses? The Q1 2023 compliance date is near for smaller SEC-reporting financial institutions and private or not-for-profit banks and credit unions, and progress is decidedly mixed, according to the Abrigo 2022 CECL Survey. CECL's impact on operations.

Survey 195

Survey Software Resources Meeting 195

Abrigo

JULY 10, 2023

As we harness the power of AI to enhance operational efficiency, detect patterns, and optimize decision-making processes, financial institutions must remain vigilant. Help your team plan for the unexpected with this webinar: "Building a strong future: Succession planning strategies for your AML program."

Fraud 150

Fraud How To social media Security 150

CFPB Monitor

JULY 12, 2022

However, regulators themselves have been criticized for encouraging de-risking by driving highly risk-adverse decisions by FIs, who are unwilling to take the chance and assume the compliance costs of doing business with specific customers who may in fact be “legitimate,” but whose risk profile is deemed to be high due to their group affiliation.

Regulation 78

Regulation ATM Operations Policies 78