Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Early communication with your regulator is key to understanding the struggles and successes of managing a BSA/AML program during a global pandemic. 5 Things Regulators Will Look For In Your Next Exam. SBA Lending.

Regulation 195

Regulation Fraud Compliance Lending 195

Abrigo

APRIL 12, 2021

What an LOS Is, and How It Benefits CFIs A loan origination system automates and manages the lending process to address common challenges. Takeaway 1 The lending landscape is increasingly competitive and the process is frustrating. You might also like this report on commercial loan automation systems DOWNLOAD. Definition of LOS.

System 338

System Lending Software Analysis 338

PYMNTS

NOVEMBER 3, 2020

3), stock exchanges in Shanghai and Hong Kong have suspended the looming IPO (initial public offering) in Ant Group, citing regulatory changes in the financial services landscape — and summoning executives including controller Jack Ma to meet with Chinese regulators at the China Securities Regulatory Commission.

Lending 199

Lending Meeting Groups Regulation 199

Abrigo

JUNE 12, 2020

Key Takeaways The soon-to-begin Main Street Lending Program (MSLP) aims to fulfill a need for mid-sized businesses to access relief funds amid the coronavirus pandemic. The MSLP aims to be a lifeline for businesses that may have been too big to participate in the PPP, but too small to access corporate lending facilities. learn more.

Maine 195

Maine Lending Regulation Resources 195

Abrigo

MAY 19, 2017

With the National Credit Union Administration issuing its final member business lending (MBL) ruling as of January 2017, credit unions are seeing increased flexibility in their lending limits. Who is responsible for collecting key documents, and will a system be used to track tickler documents and member compliance?

Lending 150

Lending Analysis Knowledge Base System 150

PYMNTS

JULY 24, 2020

Online lenders will need the green light from the central bank to roll out new offerings or hike lending rates if the legislation is put into law, Quartz Africa reported. Online lending has brought about a number of complications in Kenya, with digital loans reportedly leading rising personal debt for users in the country.

Lending 157

Lending National Mobile Online 157

Abrigo

MAY 15, 2020

Their loan requests, according to court documents, were made to pay employees for a business that was not operating at the time of pandemic and had no salaried employees. It is not too late to perform CDD and transaction monitoring of these businesses – the regulators will expect it. Lending & Credit Risk. SBA Lending.

Lending 195

Lending Rhode Island Fraud Los Angeles 195

Abrigo

NOVEMBER 9, 2020

Prudential regulators have made it clear that while they will adjust supervisory strategies as appropriate to emerging risks of the pandemic, examiner scrutiny will continue assessing basic principles that ensure the safety and soundness of financial institutions. Loan administration is a basic and yet far-reaching process of lending.

System 195

System Lending Software Risk Management 195

Abrigo

JULY 11, 2017

In December of 2016, the Consumer Financial Protection Bureau’s associate directors of the Office of Fair Lending expressed a new shift in priorities that will increase focus on small business lending, among other loan types.

Regulation 150

Regulation Memphis Tennessee Lending 150

Independent Banker

JUNE 30, 2022

As we kick off this year’s lending issue, I want to pause for a moment to reflect on just how much lending has changed. From there, the loan assistant would key it in and produce loan documents. Remember, not that long ago, when a loan card was handwritten on a one-page form? That was it. That was the process.

Lending 141

Lending Idaho Nevada Oregon 141

Abrigo

DECEMBER 14, 2014

Many would point to imprudent lending standards as a leading cause of the financial crisis of 2008, and in turn, financial institution regulators have since bolstered lending standards and capital thresholds as a preventive measure against a similar crisis. Blog Bank Credit Union'

Guidelines 223

Guidelines Payments Lending Capital 223

Abrigo

SEPTEMBER 2, 2020

The PPP might have been the first time many community financial institutions saw such clear returns on digitization investments, but the same automation and efficiency gains can be found in other end-to-end lending solutions. Community financial institutions' experience with PPP technology also translates to other areas of lending.

Lending 259

Lending Community San Antonio Survey 259

Abrigo

AUGUST 20, 2015

While it isn’t necessarily required for banks under $10 billion in assets, regulators and auditors generally view it as a proactive best practice, especially when a portfolio is highly concentrated in a volatile industry like agriculture.

Lending 150

Lending Kansas City Kansas Analysis 150

Abrigo

APRIL 15, 2020

Of course, many financial institutions these days are struggling simply to finalize PPP loans and disburse the funds, due to numerous questions surrounding the documents required to issue the loan. ( Overall, banks are like, ‘So we’re going to lend this money, and you tell me it’s guaranteed. Needleman says they can’t always do that.

Lending 221

Lending Philadelphia Payments Community 221

PYMNTS

DECEMBER 14, 2018

.” “New Yorkers would be astounded to find out that our state is an outlier when it comes to the use and abuse of confessions of judgment, and the punitive impact on small businesses,” said Hoylman, referring to the document that small business borrowers are often required to sign that forfeits their right to a court hearing.

New York 139

New York Lending Washington Analysis 139

Abrigo

OCTOBER 14, 2022

Takeaway 3 Utilize regulatory guidance to understand regulators' expectations, which are likely to include consistent stress testing. The document provides a baseline and severely adverse scenario that banks can use as a defensible starting point for stress testing worst-case scenarios. Lending & Credit Risk. CRE Lending.

Risk Management 195

Risk Management Management Policies Lending 195

Abrigo

MAY 2, 2022

Takeaway 3 Minor inconsistencies between policy and loan portfolio can be a red flag to regulators, so careful review is key. . Your policy should include what type of loans you are actively seeking and what loans you don’t have an appetite for so regulators understand your institution’s direction. keep me informed.

Policies 195

Policies Lending Regulation Examples 195

Abrigo

MAY 14, 2021

Data Entry, Documents Vex Busy Lenders in 2021 If your institution adopted more digital processes this year, you're not alone. You might also like this webinar on the findings of Abrigo's 2021 Business Lending Process Survey. See how automation made lending easier and faster for one financial institution. read the story.

Lending 195

Lending Survey System Data 195

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. The comments from AFSA, CBA, and NADA were among the close to 27,000 comments on the proposed Rule received by the FTC.

Regulation 148

Regulation Groups Retail Customer Experience 148

Abrigo

MAY 19, 2023

They should be knowledgeable of both sound lending practices and their own institution’s specific lending guidelines. In addition, they should be familiar with pertinent laws and regulations affecting credit and lending activities. Then they told me nobody’s perfect, so I stopped practicing.”

Training 195

Training Lending Risk Management Guidelines 195

Abrigo

NOVEMBER 8, 2019

Some financial institutions may view stress testing as a “check the box” practice to satisfy regulators, but others are making the most out of the process. Effective stress testing can benefit many different facets of lending, from risk management and strategic decision-making to capital adequacy and liquidity management. Learn More.

Lending 150

Lending Risk Management Analysis Capital 150

PYMNTS

AUGUST 14, 2018

Changes may soon be coming to the Military Lending Act (MLA), a piece of legislation designed to prevent military service members from getting swept up in deceptive or unfair lending practices. The product causing concern on the auto lending side of things is gap insurance. New Lending Rules . Retired Army Col.

Lending 100

Lending Regulation Kentucky Utah 100

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

PYMNTS

DECEMBER 19, 2016

Other charges stemming from the case include smuggling precious metals, illegal possession of weapons and border crossing without the proper documentation. The report noted Ezubao , which is one of the larger peer-to-peer lending platforms in China, has allegedly created fake investment projects in an effort to collect 59.8

Lending 100

Lending Fraud Regulation Online 100

Abrigo

FEBRUARY 16, 2024

It's about ensuring that every aspect of your lending operation is optimized for efficiency and effectiveness. Customize documentation : Avoid a one-size-fits-all approach to documentation when it comes to the underwriting process. Clearly defined policies and procedures can help avoid confusion and streamline credit operations.

Training 195

Training Risk Management Analysis Policies 195

PYMNTS

MAY 23, 2016

In the continuing emergence of details surrounding Lending Club and its woes in the wake of the resignation earlier this month of its chief executive officer, Reuters reported on Friday (May 20) that Citigroup backed off from supporting the company. In addition, it was uncovered that some application dates on several loans had been falsified.

Lending 100

Lending Online Meeting Regulation 100

Abrigo

JANUARY 24, 2021

The updated SBA Form 3508S , intended by lawmakers to be used by most PPP borrowers of $150,000 or less for first or second draw loans, doesn’t require borrowers to show calculations or submit documentation like the other forms (SBA Form 3508EZ and SBA Form 3508, which were also updated). Other forgiveness forms updated.

Lending 195

Lending Risk Management Management Payments 195

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 170

Risk Management Lending Policies Management 170

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. increased operational risks.

Compliance 101

Compliance Regulation Community Bank Community 101

Abrigo

AUGUST 26, 2024

Takeaway 2 Starting CECL model risk assessments at a high level ensures the focus is on data inputs, assumptions, documentation, and estimates. Starting at a high level helps avoid getting lost in the complexity of CECL and ensures the focus remains on data inputs , assumptions, documentation, and estimates.

Compliance 195

Compliance Management Regulation Data 195

Abrigo

JUNE 17, 2015

Like other types of lending, banks must remain cautious to avoid too heavy of an agricultural concentration or too much lending within a certain ag segment. The challenge is that market conditions in this type of lending tend to be volatile. Without diversification, risks will be expounded.

How To 150

How To Kansas City Lending Analysis 150

Abrigo

SEPTEMBER 2, 2020

The PPP might have been the first time many community financial institutions saw such clear returns on digitization investments, but the same automation and efficiency gains can be found in other end-to-end lending solutions. Community financial institutions' experience with PPP technology also translates to other areas of lending.

Lending 195

Lending Community San Antonio Survey 195

PYMNTS

OCTOBER 8, 2018

The impact of Europe’s General Data Protection Regulation ( GDPR ) continues to take shape roughly five months after taking effect, and Facebook could be on the hook for billions of dollars in fines tied to a data breach of about 50 million user accounts. Crypto Regulations.

United States 174

United States Regulation cryptocurrency Cleveland 174

PYMNTS

OCTOBER 18, 2016

Lending Club has had a tough year. In early May, news broke that Lending Club had played fast and loose with its documents and disclosures, including the fact that then-CEO Renaud Laplanche had failed to disclose a personal stake in a firm Lending Club had an investment relationship with. The revelations were shocking.

Lending 100

Lending San Francisco Comparison Maine 100

Abrigo

DECEMBER 21, 2020

Takeaway 2 The bill will set aside billions for community financial institutions to lend, as well as for loans to businesses in low-income areas. . The bill requires the Small Business Administrator to issue regulations to carry out the act and its amendments within 10 days after enactment. Lending & Credit Risk. Whitepaper.

Lending 195

Lending Community Regulation Maine 195

Abrigo

AUGUST 10, 2020

T he first is targeting remote platforms and processes, including undermining online identity verification through fraudulent identity documents, and leveraging weak authentication processes for account takeovers. A customer’s physical description on identity documentation does not match other images of the customer. SBA Lending.

Fraud 195

Fraud Regulation Lending Resources 195

PYMNTS

JANUARY 24, 2019

Data and analytics company Ascension has suffered a data leak that exposed more than 24 million loan and mortgage documents from some of the country’s biggest banks. Unfortunately, the server wasn’t password protected, giving anyone access to the documents. It’s those documents that were exposed, Diachenko said.

Taxes 155

Taxes New York Security Data 155