CFPB Monitor

FEBRUARY 14, 2024

The American Bankers Association (ABA) has issued a new white paper , “Effective Agency Guidance: Examining Bank Regulators’ Guidance Practices,” that is intended to help agencies issue guidance that complies with legal requirements while providing useful advice and information to regulated entities.

Regulation 158

Regulation FDIC 158

Perficient

SEPTEMBER 6, 2023

The regulators feel that this proposed LTD rule would: Improve the resolvability of these banking organizations in case of failure, Potentially reduce costs to the Deposit Insurance Fund, and Mitigate financial stability and contagion risks by reducing the risk of loss to uninsured depositors. E-mail: regs.comments@occ.treas.gov.

Regulation 221

Regulation DC Capital Washington 221

Abrigo

MAY 19, 2023

Introduction How regulators define successful loan reviews Mark Twain observed, “A thing long expected takes the form of the unexpected when at last it comes.” So, let’s get a sense of what regulators specifically expect loan review to do, and let’s start with loan review systems.

System 195

System Regulation How To Lending 195

CFPB Monitor

MAY 19, 2021

The Federal Deposit Insurance Corporation (FDIC) recently issued a notice of proposed rulemaking (NPR) and request for information (RFI) addressing “False Advertising, Misrepresentation of Insured Status and Misuse of the FDIC’s Name or Logo”.

FDIC 88

FDIC Regulation Fintech Examples 88

PYMNTS

NOVEMBER 14, 2018

The Federal Deposit Insurance Corporation (FDIC) announced that it is has issued a request for public comments related to small-dollar lending by financial institutions. ” Recent research from the FDIC shows 20 percent of U.S. With that in mind, the FDIC suggests that in 2017, 14.8 million (or nearly 13 percent) of U.S.

FDIC 128

FDIC Lending Study Meeting 128

Abrigo

JANUARY 8, 2016

In addition to the challenges tied to staffing, training and time allocation, however, government auditors also described industry participants’ concerns about potential “trickle-down effects” on smaller institutions as a result of current or future regulations aimed at larger banking institutions.

Regulation 150

Regulation FDIC Survey Community Bank 150

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

Abrigo

MARCH 18, 2025

Traditional & emerging payment systems Payment system vs. payment platform Regulations related to payment systems The growing risk of payment fraud What is a payment system? Regulations for payment systems Financial institutions must comply with a complex web of regulations to ensure the security and legality of payment processing.

System 195

System Payments Fraud Regulation 195

PYMNTS

MAY 26, 2016

House lawmakers aren’t letting up on the Federal Deposit Insurance Corporation (FDIC) when it comes to how the banking regulator handled notifications following a slew of recent data breaches. In a joint letter to FDIC Chairman Martin Gruenberg, seen by WSJ , Rep. Lamar Smith (R-TX) and Rep. Earlier this month, a U.S.

FDIC 102

FDIC Data Policies Meeting 102

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. Mr. Shan Hanes, who served as the bank’s President and CEO until its closure, joined the firm in 1993 as an agricultural loan officer and Informational Technology Officer.

United States 221

United States Kansas FDIC Risk Management 221

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

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. Shared AML case management combines insights from fraud and AML teams, significantly improving coordination and information sharing. Leverage automation to reduce manual tasks.

Compliance 221

Compliance Training System Management 221

PYMNTS

MAY 13, 2016

main banking regulator is in the hot seat about how notifications following the breaches were handled. Upon learning of the breaches, the FDIC also discovered that there were five other incidents where this same behavior had occurred, according to Republican Rep. Following a slew of recent data breaches, the U.S

FDIC 100

FDIC Data Maine Policies 100

PYMNTS

FEBRUARY 1, 2021

million fine for violating anti-money laundering (AML) regulations, The Wall Street Journal reported on Monday (Feb. Apple Bank for Savings was accused of failing to comply with the Bank Secrecy Act, according to the Federal Deposit Insurance Corporation (FDIC) per WSJ.

Apple 150

Apple FDIC New York Compliance 150

CFPB Monitor

APRIL 8, 2021

On April 1, 2021, the FDIC’s final rule issued in December 2020 revising its brokered deposits regulation became effective. The information on the webpage about the final rule includes filing instructions for the notice requirement and application process established by the final rule.

FDIC 78

FDIC Resources Regulation Compliance 78

PYMNTS

SEPTEMBER 21, 2020

The reality of the global financial system is that there will always be attempts to launder money and evade sanctions; the responsibility of banks is to build effective screening and monitoring systems, and we work closely with regulators and law enforcement to bring perpetrators to justice.”. In one example, reported on Monday (Sept.

Fraud 347

Fraud Report System FDIC 347

CFPB Monitor

OCTOBER 9, 2018

The FDIC has issued a request for information that seeks comment on how the FDIC can make its communications with insured depository institutions (IDIs) “more effective, streamlined, and clear.” The RFI contains specific questions on which the FDIC seeks input that address three topics: efficiency, ease of access, and content.

FDIC 74

FDIC Community Bank Policies Community 74

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

CFPB Monitor

DECEMBER 9, 2019

The Federal Deposit Insurance Corporation (the “FDIC”) has published a request for information in the Federal Register (the “RFI”) seeking comment on approaches it uses, or is considering using, to analyze the effects of its regulatory actions and rulemaking. The format and presentation of regulatory analysis.

FDIC 78

FDIC Analysis Regulation Maine 78

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

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

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

PYMNTS

JUNE 29, 2020

In today’s top news, Germany’s deputy finance minister wants to restructure accounting firm regulations, and consumers are turning away from travel rewards cards. FDIC) is looking to modernize bank reporting. FDIC Looks To Modernize Bank Reporting. Plus, the Federal Deposit Insurance Corp. Consumers Sour On Travel Rewards Cards.

FDIC 142

FDIC Cards Payments Regulation 142

CFPB Monitor

MAY 11, 2021

The FDIC’s settlement with Umpqua Bank announced yesterday involved collection practices connected with commercial equipment financing offered by the bank’s wholly-owned subsidiary. Disclosing information about the customers’ debts to third parties. ” For more information and to register, click here. . . million CMP.

FDIC 78

FDIC Lending Trends Regulation 78

CFPB Monitor

DECEMBER 20, 2018

The FDIC has issued an Advance Notice of Proposed Rulemaking (ANPR) seeking comment on its regulatory approach to brokered deposits and interest rate restrictions. The FDIC’s current regulations on brokered deposits and interest rate restrictions are set forth at 12 C.F.R. Section 337.6.

FDIC 60

FDIC Regulation Capital Analysis 60

Abrigo

NOVEMBER 3, 2014

Those regulated by the OCC and above $50 billion in assets are expected to use the results to detect opportunities to improve and implement specific changes that can be tracked, measured and evaluated. Access to management and regulators – Is there a need for increased interactions? Or, do they need more context and less data?

Meeting 170

Meeting Policies Training Exercises 170

South State Correspondent

APRIL 30, 2024

Second, the hedge provider must be an FDIC insured institution and structure its hedges as a qualified financial contract (QFC). We see substantial risk to community banks in dealing with non-FDIC hedge providers or those that do not offer QFC protection – think Lehman Brothers.

Community Bank 195

Community Bank FDIC Community National 195

South State Correspondent

APRIL 30, 2024

Second, the hedge provider must be an FDIC insured institution and structure its hedges as a qualified financial contract (QFC). We see substantial risk to community banks in dealing with non-FDIC hedge providers or those that do not offer QFC protection – think Lehman Brothers.

Community Bank 195

Community Bank FDIC Community National 195

CFPB Monitor

SEPTEMBER 28, 2022

They also expressed their strong opposition to “regulatory actions, both formal and informal, that might target the ILC charter in a manner not consistent with the laws Congress has passed.”.

FDIC 78

FDIC Industry Groups Company 78

CFPB Monitor

AUGUST 23, 2022

The FDIC has issued new supervisory guidance (FIL-40-2022) on multiple non-sufficient funds (NSF) fees arising from the re-presentment of the same unpaid transaction. In the guidance, the FDIC addresses potential risks arising from multiple re-presentment NSF fees, risk mitigation practices, and the FDIC’s supervisory approach. .

FDIC 78

FDIC Compliance System Regulation 78

Abrigo

NOVEMBER 11, 2019

Obviously, protecting financial institutions against the impact to capital and earnings of rising interest rates has been the particular focus of regulators for more than a decade. FDIC FIL-46-2013 October 8, 2013. Incoming data from the core system might be missing information. Using ALM to grow earnings and capital.

Management 150

Management FDIC Community Risk Management 150

Perficient

NOVEMBER 10, 2023

Transaction Accounts Regulators classify transaction accounts under the Monetary Control Act of 1980 and the Federal Reserve Regulation D for federal reserve requirements on deposit liabilities. Don’t hesitate to reach out and leverage our knowledge to make informed decisions.

Risk Management 221

Risk Management United States FDIC Compliance 221

CFPB Monitor

APRIL 4, 2019

On April 2, 2019, the FDIC issued Financial Institution Letter FIL-19-2019 (the “Letter”) to remind financial institutions about certain contractual provisions and other requirements pertaining to technology service provider contracts. Defining key terms in the contracts relevant to business continuity and/or incident response.As

FDIC 68

FDIC Technology Guidelines Security 68

CFPB Monitor

MAY 19, 2022

They provide background information about applicable law, articulate considerations relevant to the Bureau’s exercise of its authorities, and, in the interest of maintaining consistency, advise other parties with authority to enforce federal consumer financial law.

FDIC 78

FDIC Exercises System Regulation 78

Abrigo

DECEMBER 22, 2023

Abrigo's most popular risk management blogs over the last 12 months cover topics that continue to catch the attention of professionals and regulators. As regulators focus on interest rate forecasts used for interest rate risk management, remember that flattening, steepening, or inverting yield curves can influence your projections.

Risk Management 221

Risk Management Regulation Management Lending 221

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. Regulation E – Mistakes Made in the Consumer Liability/Error Resolution Process.

FDIC 60

FDIC Compliance Regulation Training 60

Abrigo

JANUARY 29, 2020

Key Takeaways The FDIC issued an advisory to FIs encouraging safe and sound lending practices in today's ag lending environment. FDIC) issued an advisory to financial institutions encouraging exceptionally safe and sound lending practices in agricultural lending. On January 28, the Federal Deposit Insurance Corp.

Lending 195

Lending How To FDIC Survey 195