PYMNTS

MARCH 29, 2016

Post-financial crisis, amid economic recovery, financial institutions across the EU have been calling for a cut in capital charges if they are to ramp up their lending, especially to SMEs. The latest figures show levels of bank lending to large corporates has recovered back to pre-crisis levels. Apparently, it hasn’t.

Lending 100

Lending Capital Report Regulation 100

Abrigo

APRIL 6, 2022

Takeaway 2 The change includes an obligation to inform regulators of a “notification incident” ASAP and no later than 36 hours after a reportable event occurs. Background Historically, the federal banking regulators required financial institutions to file two types of reports for certain cybersecurity incidents.

Security 195

Security Regulation District of Columbia United States 195

PYMNTS

MARCH 5, 2019

Heightening efforts among policymakers across the globe to expand customer protections in the financial services (FinServ) space have largely left small business (SMB) banking and lending untouched. rejected the Treasury Select Committee ‘s regulations to introduce stricter small business borrower protections for the banking industry.

California 153

California Fintech Lending Regulation 153

PYMNTS

SEPTEMBER 25, 2018

When it comes to FinTech firms and lending, might it be that what we don’t know could hurt us? Viewed from high levels, the activity itself (lending, that is), has taken off in some of the countries one might expect, marked by relatively higher incomes, and where financial regulation might be relatively less stringent.

Fintech 172

Fintech Lending United States Regulation 172

PYMNTS

MARCH 19, 2019

However, though the company expanded quickly in 2017 and 2018, Beijing’s crackdown on certain lending practices forced Dianrong to decline in the second half of 2018. We hope regulators can give the industry a clear and definite timetable, and give guidance and a ray of hope for companies that stick to compliance,” Guo said.

Regulation 138

Regulation Lending Regional Compliance 138

Jeff For Banks

AUGUST 2, 2014

My firm will occasionally provide feedback on correspondence to our clients'' regulators. I thought about what we should have said to the regulator, versus the sweet words I was encouraging our client to use. Below is a sample letter to your regulator, saying it like you mean it. Today we did just that. Truth is, I haven''t.

Regulation 90

Regulation DC FDIC Analytics 90

PYMNTS

OCTOBER 26, 2017

It was the (initially) small FinTech startups that delivered a collective shakeup to the small business (SMB) lending industry. Their next target could be small business lending, and according to some experts, it’s fast approaching the market. When I look at it from a U.S. New reports in Bloomberg on Wednesday (Oct.

Lending 109

Lending Google Fintech Industry 109

CFPB Monitor

SEPTEMBER 22, 2022

The public comment period for the notice of proposed rulemaking (“NPRM”) regarding the Motor Vehicle Dealers Trade Regulation Rule (the “Rule”) closed on September 15, 2022 after the FTC declined in August to extend it. In addition, AFSA and CBA provided practical suggestions and changes to the proposed Rule.

Regulation 148

Regulation Groups Retail Customer Experience 148

Abrigo

APRIL 19, 2022

Obtaining business and personal financials, but not combining them into a single cash flow It may seem obvious that the above isn’t even a GCF analysis by definition, but this mistake happens. Stay up to date on global cash flow and other lending trends. Lending & Credit Risk. Lending & Credit Risk. Learn More.

Analysis 195

Analysis Taxes Lending Examples 195

Abrigo

MAY 30, 2023

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. Which lenders are counted as “covered financial institutions”?

Compliance 195

Compliance Lending Data Regulation 195

PYMNTS

OCTOBER 16, 2017

Google and Amazon are ready to shake up the small business lending world and place competitive pressure on traditional banks, according to Karen Mills, advisor for small businesses to former President Barack Obama. Amazon has already made inroads in the small business lending space over the years. When I look at it from a U.S.

Google 100

Google Lending Conference Industry 100

Abrigo

JULY 6, 2017

It’s been more than six months since the National Credit Union Administration (NCUA) issued its revised member business lending (MBL) rule in January 2017. The NCUA recently updated the Examiner’s Guide to include what it described as a clear framework for supervisory expectations for managing a commercial lending program.

Risk Management 171

Risk Management Lending Policies Management 171

Independent Banker

DECEMBER 13, 2015

New Military Lending Act regulations kick in next fall. Following a three-year study on predatory lending, the U.S. Department of Defense has now issued the final rule to implement the Military Lending Act. Transactions not covered by Regulation Z are excluded from coverage under the rule. By Mary Thorson Wright.

Lending 70

Lending Compliance Regulation Virginia 70

PYMNTS

AUGUST 14, 2019

There is a “blurring in the line between lending to small business and personal credit,” she added. Lenders are increasingly treating small businesses as household borrowers,” she continued, “imposing the stricter conditions on small business lending.”. But that mix is not a smart tactic for managing company spend and finances.

Lending 122

Lending Cards FDIC Capital 122

PYMNTS

SEPTEMBER 17, 2019

While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of consumer lending. By definition, a pawnbroker offers loans on items that are not accepted as collateral by traditional banks or lenders.

Ohio 151

Ohio Lending Iowa South Dakota 151

CFPB Monitor

MARCH 25, 2021

The new law became effective immediately upon signing notwithstanding the authority it gives the Illinois Secretary of Financial and Professional Regulation to adopt rules “consistent with [the] Act.”. The Act also contains a broad definition of the term “lender” and applies to loans made using a bank partnership model.

Illinois 148

Illinois Lending Retail Analysis 148

Abrigo

JULY 25, 2017

In a recent Sageworks webinar Robert Ashbaugh, senior risk management consultant at Sageworks, discusses High Volatility Commercial Real Estate (HVCRE) lending best practices. Ashbaugh’s presentation begins with a quick summary of why regulators care about HVCRE. How did we get here? What are HVCRE loans?

Risk Management 150

Risk Management Management Capital Lending 150

PYMNTS

NOVEMBER 1, 2017

A small business (SMB) in Massachusetts borrowing funds via marketplace lender Kabbage has sued the platform, igniting new debate in the conversation over the definition of a “true lender,” according to reports in the National Law Review on Tuesday (Oct. Usury laws regulate how much interest can be charged on a loan.

Massachusetts 128

Massachusetts Utah National Regulation 128

PYMNTS

AUGUST 9, 2019

iPhone users within the range of responsible lending and regulations, per the sources. There isn’t a standard definition for who is classified as subprime, but the outlet said that most have a FICO score of below 660. Apple reportedly wanted its bank partner to create a platform that would approve the most possible U.S.

Apple 156

Apple Cards User Experience Report 156

PYMNTS

DECEMBER 19, 2017

Capital Float targets small- and medium-sized businesses (SMBs) with its lending service, though it’s unclear how Amazon’s investment in the company might lead to an integration of small business lending or consumer financing services from within the Amazon platform. When I look at it from a U.S.

Lending 122

Lending Capital Google Conference 122

CFPB Monitor

APRIL 11, 2016

A number of prominent industry trade groups have written to the Department of Defense (DoD) seeking clarifications to the Military Lending Act (MLA) final rule adopted in July 2015 that dramatically expanded the scope of the MLA’s coverage.

Groups 60

Groups Lending Regulation Taxes 60

PYMNTS

FEBRUARY 12, 2019

26 percent: The number of regulatory bodies that the Financial Stability Board estimates have clear definitions of FinTech lending in place. . $2,225: The amount bridge millennials spend, on average, on annual retail purchases. 90 percent: The share of retail sales that the Census estimates happen at the physical store.

Millennials 154

Millennials Payments Retail Lending 154

PYMNTS

JANUARY 18, 2021

Plus, big banks’ Q4 earnings showed that the pandemic’s impact on critical lending and spending wasn’t as bad as first feared. Ant Group Overhauling Operations to Satisfy Chinese Regulators. In today’s top news, Biden is bringing in the FTC’s Rohit Chopra to lead the CFPB, and Jet.com Founder Marc Lore is retiring from Walmart.

Payments 146

Payments Regulation Analytics Groups 146

CFPB Monitor

MARCH 30, 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes the following key provisions that affect financial institutions and regulation of financial institutions: Section 4003 – Emergency Relief and Taxpayer Provisions. Section 4011 – Temporary Lending Limit Waiver.

Regulation 122

Regulation United States Community Bank National 122

Abrigo

FEBRUARY 8, 2022

Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. Consumers are looking for speed without the hassle of mounds of paperwork and lengthy approval processes, whether with deposit or lending accounts. Regulations & Guidance Forthcoming.

Compliance 195

Compliance Training Regulation Fraud 195

CFPB Monitor

DECEMBER 23, 2021

As defined by Regulation B, an “applicant” includes “any person who requests or who has received an extension of credit from a creditor.” Both the ECOA and Regulation B require a creditor to provide a statement of the reasons for adverse action to an “applicant.”. 1691a(b). In Fralish v. Capital One, N.A. ,

Regulation 148

Regulation Cards America Capital 148

PYMNTS

OCTOBER 9, 2018

However, Dave Gilbert, founder and chief executive officer of SMB alternative lending firm National Funding , said he’s seen a trend of growing traction within the small business community. In its report, S&P found nearly 50 percent of SMB borrowers are too unfamiliar with digital lenders to use alternative finance. In the U.S.,

National 167

National Regulation Capital Industry 167

Abrigo

JANUARY 22, 2016

.” – Albert Einstein Banks generate most of their revenue by lending money, and lending money, by definition, involves a certain amount of risk. Safe lending starts at the origination of the loan, because the most effective way to avoid a troubled loan is to never make the loan in the first place.

Resources 150

Resources Lending Risk Management Compliance 150

CFPB Monitor

JUNE 15, 2022

The California Department of Financial Protection and Innovation (DFPI) has issued final regulations to implement SB 1235, the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances. .

California 78

California Regulation CA Utah 78

CFPB Monitor

SEPTEMBER 24, 2015

The CFPB has issued a final rule that revises the definitions of “small creditor” and “rural areas” under Regulation Z of the Truth in Lending Act (TILA). The CFPB created special small creditor provisions with regard to certain Regulation Z requirements. Wendy Tran and Richard J. Andreano, Jr. less than 3.5

Operations 60

Operations Regulation Meeting Payments 60

CFPB Monitor

DECEMBER 5, 2018

Companies providing such financing are not required to comply with the new disclosure requirements until the DBO’s final regulations become effective. The DBO’s invitation provides an important opportunity for providers of commercial financing products to engage with and educate the DBO as it develops proposed regulations.

CA 74

CA Regulation Policies Examples 74

CFPB Monitor

SEPTEMBER 25, 2018

The law increases permissive civil penalty amounts for violations of laws, regulations, rules or orders over which the Commissioner of Financial Regulation has jurisdiction to a maximum of $10,000 for a first violation and a maximum of $25,000 for each subsequent violation. Increases in civil penalty amounts.

Maryland 74

Maryland Regulation Study Lending 74

CFPB Monitor

JUNE 14, 2021

The new law became effective immediately upon signing notwithstanding the authority it gives the Illinois Department of Financial and Professional Regulation (“IDFPR”) to adopt rules “consistent with [the] Act.”. Proposed Regulations. The IDFPR has proposed regulations to implement the Act.

Illinois 78

Illinois Regulation Report Lending 78

CFPB Monitor

APRIL 5, 2017

His prepared remarks focused on the CFPB’s role in adopting regulations. He trumpeted the CFPB’s promulgation of detailed regulations for the mortgage industry. He also mentioned the CFPB’s regulation dealing with international remittances. He also mentioned the CFPB’s regulation dealing with international remittances.

Regulation 68

Regulation United States Lending Capital 68

PYMNTS

SEPTEMBER 28, 2020

The Predatory Lending Trap. This can come with a whole host of other problems, although some regulators have taken steps to broaden the scope of borrower protections to include SMBs. When an organization is bearing an ever-increasing burden of outstanding accounts receivables, there are multiple sources of capital to which it can turn.

social media 215

social media Capital Fintech Operations 215

CFPB Monitor

MAY 18, 2022

After moving alone in 2020 to reform its Community Reinvestment Act (CRA) regulation, the Office of the Comptroller of the Currency (OCC) has joined the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve Board in issuing a joint notice of proposed rulemaking setting forth proposed amendments to their regulations implementing the CRA.

FDIC 78

FDIC Regulation Community Lending 78

PYMNTS

NOVEMBER 20, 2017

According to the lending platform, this is also its first credit facility rated by DBRS, Inc. The funding will allow Kabbage to focus on accelerating expansion and fueling growth by being able to provide lines of credit with longer terms to more small businesses.

Massachusetts 100

Massachusetts Lending Analysis Operations 100