CFPB Monitor

AUGUST 3, 2022

On July 25, 2022, the FDIC issued Financial Institution Letter (FIL)-34-2022 announcing updates to Chapters 1 and 4 of its Formal and Informal Enforcement Actions Manual (Manual). The Manual includes updates to the minimum standards for the FDIC’s termination of cease-and-desist and consent orders.

FDIC 78

FDIC Compliance Regulation Regional 78

CFPB Monitor

MAY 23, 2019

The FDIC has announced that it has entered into a settlement of the lawsuit filed against it and the OCC in 2014 by a trade group and several payday lenders challenging “Operation Choke Point” — a federal enforcement initiative involving the FDIC, OCC and other federal agencies. In July 2017, the D.C.

FDIC 112

FDIC Operations Policies Regional 112

Perficient

DECEMBER 21, 2023

Earlier this year, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Fed), and the Federal Deposit Insurance Corporation (FDIC) unveiled a proposed rule that would reshape the landscape for certain financial institutions. Learn More: U.S.

DC 221

DC FDIC Washington Compliance 221

South State Correspondent

AUGUST 21, 2022

The first decision a community bank must make in choosing a hedging program is if they will subject their commercial customers to ISDA documents. Most community banks do not have a large universe of customers and prospects that would embrace complex and esoteric documentation.

How To 195

How To Community Bank Community FDIC 195

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

Abrigo

AUGUST 7, 2023

Takeaway 2 Regulators say management should periodically validate the loss estimation process for the allowance for credit losses (ACL) and any changes to it. Regulators have noted such risks can involve financial losses, poor business and strategic decision-making, or damage to a bank’s reputation.

Risk Management 195

Risk Management Handbook Analysis Management 195

Abrigo

JUNE 2, 2021

This document was also written for examiners and recognizes the exam burden for financial institutions. The guidance emphasizes a risk-focused approach to examinations and refocuses the regulators to scope each exam according to the unique financial institution, not to use a one-size-fits-all approach. 6 Critical Areas. Calibration.

How To 195

How To Training Compliance Policies 195

CFPB Monitor

AUGUST 4, 2020

Recently, the federal banking regulators issued four new sets of examination procedures. The booklet contains examination procedures regarding supervision of OCC-regulated banks and savings associations related to Section 5 of the Federal Trade Commission Act (“UDAP”) and Sections 1031 and 1036 of the Dodd-Frank Act (“UDAAP”).

Handbook 78

Handbook Regulation CA Exercises 78

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

CFPB Monitor

OCTOBER 9, 2018

We have been following closely efforts by state regulators, state legislatures and the courts to restrict, or in some cases prohibit, bank model lending programs, so the recent guidance from the Vermont Department of Financial Regulation (“Department”) is welcome news.

Vermont 68

Vermont FDIC Regulation Training 68

Abrigo

JULY 26, 2021

The Scaled CECL Allowance for Losses Estimator (SCALE) tool was unveiled during an “Ask the Fed” webinar , where regulators described the Excel spreadsheet-based option using estimated loss rates from peers as a “ starting point ” in the calculation. NCUA officials were not included in the SC ALE webinar. “The

Tools 195

Tools Kansas City Kansas Regulation 195

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."

Community Bank 195

Community Bank Strategy Community Management 195

PYMNTS

SEPTEMBER 21, 2020

To that end, and as reported by BuzzFeed , documents submitted by banks to the U.S. The documents, officially known as suspicious activity reports (SARs for short) show that the banks had filed more than 2,000 reports across the past 17 years. In one example, reported on Monday (Sept. billion in fines.

Fraud 347

Fraud Report System FDIC 347

Independent Banker

SEPTEMBER 25, 2014

The better prepared, the less likely they are to run afoul of the continually shifting regulations. Regulators and industry consultants agree that community banks are generally doing a great job handling their regulatory oversight and requirements. Be aware of existing or emerging risk concerns. in Kent, Ohio.

Compliance 101

Compliance Regulation Community Bank Community 101

Jeff For Banks

OCTOBER 5, 2020

On fire were documents requested by the Texas Department of Banking (TDB). She hid them from the Board and regulators with assistance from unnamed co-conspirators." When the TDB shut them down and the FDIC investigators came in, they had to occupy the church next door because of the smell from the fire. Well, not actually Pat.

FDIC 78

FDIC Fort Worth Dallas Texas 78

American Banker

JUNE 10, 2016

s cybersecurity practices has accused the agency of accessing internal documents from the FDIC's inspector general. A House committee probing the Federal Deposit Insurance Corp.'s

FDIC 28

FDIC Regulation 28

Abrigo

NOVEMBER 9, 2022

Some CECL consultants can provide financial institutions with the model and initial allowance calculation, including documentation of the decision and backtesting. It can also reduce the time spent on documenting decisions and report writing. Prepare documentation—policies and procedures—as you go. CECL Regulation.

Survey 195

Survey Software Resources Meeting 195

CFPB Monitor

NOVEMBER 2, 2020

The CFPB, OCC, Federal Reserve, FDIC, and NCUA have issued a proposed rule on the role of supervisory guidance. The proposed rule would codify the Statement, with clarifying changes, as an appendix to a new subpart added to the regulations of each agency.

Regulation 78

Regulation FDIC Compliance Risk Management 78

Abrigo

JULY 25, 2017

Ashbaugh’s presentation begins with a quick summary of why regulators care about HVCRE. That 13% represented 80% of the losses to the FDIC insurance fund. The regulators want to make sure you have all your ducks in a row, that you have more capital applied to those loans, and you have processes to identify those loans”.

Risk Management 150

Risk Management Management Capital Lending 150

CFPB Monitor

SEPTEMBER 10, 2020

The DBO’s press release stated that it issued a subpoena to LoanMart requesting financial information, emails, and other documents “relating to the genesis and parameters” of its arrangement with CCBank. Thus, both the OCC and FDIC have adopted regulations rejecting the Second Circuit’s Madden decision.

Utah 78

Utah California FDIC West Virginia 78

Abrigo

OCTOBER 30, 2024

Regulators expect an institution to maintain a quality control program for AML activities, said Josh Hawkins, Director of Abrigo’s Financial Crimes Unit. Before MidCountry Bank implemented BAM+ AML software , it was using folders on the network, grabbing screenshots, managing Excel documents, and writing lengthy reports for due diligence.

Compliance 221

Compliance Training System Management 221

Abrigo

AUGUST 8, 2021

Independent Loan Review Systems in Banking Banking regulators have outlined expectations for effective, independent loan review and credit risk review. . The change reflects regulators’ expectations that financial institutions will develop loan review or credit review systems tailored to their specific risks and circumstances.

System 195

System Lending Policies Regulation 195

CFPB Monitor

DECEMBER 6, 2021

Following a pattern established under former Director Cordray, the CFPB used relatively neutral language in its formal documents and more aggressive language in its press release, leaving the most alarming comments for the Director to personally deliver.

Regulation 78

Regulation Policies FDIC Report 78

Abrigo

SEPTEMBER 5, 2023

As the FDIC said recently: Exceptions to policy should be few in number and properly justified, approved, and tracked. 3 categories of credit exceptions I would divide exceptions into three categories: structural credit exceptions, account management exceptions, and documentation exceptions. and property tax payments.

Policies 195

Policies Lending Risk Management Examples 195

CFPB Monitor

NOVEMBER 20, 2018

The FDIC , Federal Reserve Board and Comptroller of the Currency are proposing a rule to implement a rural property appraisal exemption under the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act) and also increase the appraisal exemption based on transaction value from $250,000 to $400,000.

FDIC 60

FDIC Regulation Security Report 60

PYMNTS

DECEMBER 20, 2018

19) announcement, the company said the application is with the Federal Deposit Insurance Corporation (FDIC). Regulators had said a refiling would be permitted. Regulators had said a refiling would be permitted. In its Wednesday (Dec. The application is for a special industrial loan company license.

Utah 134

Utah FDIC System Retail 134

Payments Source

DECEMBER 5, 2018

Newly unsealed court documents make clear that regulators forced banks to terminate relationships with payday lenders and other lawful businesses, setting a dangerous precedent.

Operations 64

Operations Regulation FDIC Lending 64

CFPB Monitor

OCTOBER 1, 2019

The exemption based on a transaction value of $400,000 or less is available for residential real estate transactions, which is defined as a real estate-related financial transaction that is secured by a single 1-to-4 family residential property.

FDIC 68

FDIC Compliance Regulation Security 68

CFPB Monitor

MARCH 15, 2022

According to the complaint, in 2020 and 2021, OppFi provided documents to the DFPI in response to the DFPI’s request for information relating to its partnership with the Bank. While non-bank participants have been the focus of these state attacks, bank participants could also face increased scrutiny from their regulators.

California 78

California Innovation Utah West Virginia 78

Abrigo

MARCH 2, 2023

Community banks and the entire banking industry face downside risks from inflation, rising market interest rates, and continued geopolitical uncertainty, the FDIC said recently in its quarterly report. Abrigo Solutions Make better decisions amid uncertainty Respond quickly and efficiently to the needs of customers.

Technology 195

Technology Lending Community Software 195

CFPB Monitor

OCTOBER 17, 2022

ED also stated that it “will monitor compliance and take corrective action to enforce these regulations when necessary.”. The cash management rules generally require IHEs to review college banking agreements to ensure that the terms offered to students “are not inconsistent with the best financial interests of students opening them.”

Cards 78

Cards Report Regulation FDIC 78

CFPB Monitor

APRIL 22, 2021

The agencies are the Comptroller of the Currency, Farm Credit Administration, FDIC, Federal Reserve Board, and National Credit Union Administration (Agencies). The Agencies note that they plan to publish in the Federal Register a final document based on the new proposed Q&As and the Q&As proposed in July of 2020.

Policies 60

Policies Compliance Meeting Regulation 60

CFPB Monitor

NOVEMBER 22, 2022

In particular, the report’s recommendations deserve attention because they are likely to influence future actions by the federal banking regulators and the CFPB. (The The report is also worthwhile reading for its discussion of the role of fintechs and other non-banks in providing consumer financial services and how that role has evolved.).

Fintech 78

Fintech Report Data Lending 78

Independent Banker

AUGUST 26, 2015

We get the disclosure back faster” when borrowers digitally sign documents exchanged by email, Webster notes. Community banks and their customers don’t need to be concerned about the legality of digitally signed documents. Sending documents to a consumer’s personal email is the first safeguard.

San Francisco 70

San Francisco Lending System Atlanta 70

American Banker

MARCH 26, 2020

The regulator's extension for first-quarter documents applies to BHCs with less than $5 billion in assets.

Company 38

Company Report Regulation FDIC 38

PYMNTS

MAY 24, 2016

And while the points of friction are myriad — and have been documented, in all their colorful wonder, across the pages of PYMNTS in 2016 — there seems to be one thing that everyone involved in the debate agrees on, and that is The Pew Charitable Trusts’ numbers. And that the CFPB can fix — narrowly.

Lending 103

Lending FDIC Maine Regulation 103

CFPB Monitor

JULY 22, 2020

The OCC describes the underwriting standards and loan documentation policies and procedures that the OCC expects a bank to have. Previously, Acting Comptroller of the Currency Brian Brooks indicated that the OCC expected to partner with the FDIC in developing the OCC’s “true lender” rule.

National 78

National Lending Exercises FDIC 78