CFPB Monitor

NOVEMBER 19, 2018

Thirteen Republican Senators have sent a letter to FDIC Chairman Jelena McWilliams urging the FDIC to take action to ensure that lawful businesses are no longer at risk of adverse financial consequences as a result of “Operation Choke Point, and its associated culture and Choke Point-like regulatory actions.”.

FDIC 68

FDIC Operations Policies Regulation 68

CFPB Monitor

AUGUST 13, 2018

McWilliams stated that the FDIC’s top priorities included: (1) reducing regulatory burden on community banks; (2) increasing the speed with which the FDIC reviews charter and deposit insurance applications; and (3) assisting banks to introduce new financial products that serve underserved communities.

FDIC 68

FDIC Community Lending Guidelines 68

ABA Community Banking

OCTOBER 20, 2024

The First National Bank of Lindsay in Lindsay, Oklahoma, was closed Friday by the OCC, which appointed the FDIC as receiver. First Bank and Trust in Duncan, Oklahoma, will assume the insured deposits. The post Oklahoma bank closed by OCC appeared first on ABA Banking Journal.

Oklahoma 98

Oklahoma FDIC National Community Bank 98

CFPB Monitor

JUNE 29, 2020

The FDIC has issued its widely anticipated final rule resolving the uncertainty caused by the Second Circuit’s Madden v. The FDIC’s Notice of Proposed Rulemaking (“NPR”) was published the same week as an OCC proposed rule intended to address the same issue for national banks under Section 85. Midland Funding decision.

FDIC 60

FDIC National Analysis Regulation 60

PYMNTS

DECEMBER 18, 2018

As well, the form has a long history of transmitting national values and providing cultural, political and even economic education — one need only dig deep into the comic scene during World War II to understand that. culture, in that sweet spot where “low” and “high” art meet. Compliance, too, could become a juicer in the near future.

Compliance 152

Compliance Fraud Security Course 152

Payments Source

DECEMBER 20, 2018

The Office of the Comptroller of the Currency has gotten the ball rolling for financial technology firms trying to operate a national platform, but the FDIC and Federal Reserve should act to remove other policy roadblocks.

FDIC 62

FDIC Regulation Fintech Policies 62

CFPB Monitor

MAY 22, 2020

The Federal Reserve, OCC, FDIC, and NCUA have issued “ Interagency Lending Principles for Offering Responsible Small-Dollar Loans.” Underwriting loan products based on prudent policies and practices governing amounts borrowed, borrowing frequency, and repayment terms. Federal law (12 U.S.C.

FDIC 78

FDIC Policies Lending Guidelines 78

Abrigo

JUNE 2, 2021

The following six areas are critical when developing your exam planning: BSA/OFAC Policy integration. Are procedures in line with BSA Policy requirements? Does it include or have a separate OFAC Policy? Procedures do not match board-approved policy: Look and compare the two documents to confirm they are aligned.

How To 195

How To Training Compliance Policies 195

Independent Banker

DECEMBER 31, 2022

The FDIC approved a final rule to increase initial base deposit insurance assessment rates by 2 basis points until the Deposit Insurance Fund (DIF) achieves the FDIC’s long-term goal of a reserve ratio of 2% of insured deposits. The FDIC’s long-term goal for the reserve ratio of insured deposits. Source: FDIC.

Compliance 100

Compliance FDIC Community Bank Community 100

CFPB Monitor

DECEMBER 8, 2022

the SEC for registered brokers or dealers) or, if Section 2 does not assign a “primary financial regulatory agency,” the FDIC. The ILCs subject to this FDIC authority would include ILCs approved for deposit insurance on or before September 23, 2021. 5301) (e.g.

FDIC 78

FDIC Company Industry Regulation 78

Abrigo

JUNE 4, 2019

The Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Board of Governors of the Federal Reserve System (FRB), and the Office of the Comptroller of the Currency (OCC) have put out a joint statement addressing many frequently asked questions about the new standard.

Policies 186

Policies Report Capital FDIC 186

CFPB Monitor

JANUARY 19, 2015

Section 342 of Dodd-Frank directs each of the federal financial regulatory agencies to create an Office of Minority and Women Inclusion (OMWI) to oversee diversity efforts at the agencies, and further, to develop standards for assessing diversity policies and practices at regulated financial entities.

FDIC 60

FDIC Report Policies Regulation 60

PYMNTS

FEBRUARY 19, 2019

banking industry is in flux, largely thanks to federal policy that has made it easier (and faster) for institutions to merge. Earlier this month, separate reports revealed that MOXY Bank has been approved by the Federal Deposit Insurance Corporation (FDIC) to launch in Washington, D.C.,

Marketing 108

Marketing Community Community Bank Industry 108

PYMNTS

DECEMBER 14, 2018

Among those agencies, alphabetically speaking: the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Financial Crimes Enforcement Network (FinCEN) and the National Credit Union Administration.

Compliance 148

Compliance Innovation FDIC Examples 148

CFPB Monitor

JANUARY 19, 2022

federal district court in December 2020 seeking to block the OCC from granting a national bank charter to Figure Technologies Inc. The lawsuit represented the CSBS’s third challenge to the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies or to uninsured deposit-taking fintechs.

Technology 78

Technology National FDIC Fintech 78

CFPB Monitor

AUGUST 20, 2020

FFIEC : On June 5, 2020, the members of the FFIEC (FDIC, OCC, Federal Reserve Board (“FRB”), CFPB, NCUA and the State Liaison Committee) issued an unprecedented statement on the importance of financial inclusion. This blog post contains a summary of those efforts.

Regulation 78

Regulation FDIC Community Lending 78

Jeff For Banks

AUGUST 2, 2014

John Whatshisname Examiner In Charge Bank Regulatory Body 1 Bureaucrat Way, NW Washington, DC 20429 Mr. Whatshisname, Below is our response to the Matters Requiring Attention ("MRA") that were included in your most recent examination report on Schmidlap National Bank ("Schmidlap"). Warm Regards, Schmidlap National Bank.

Regulation 92

Regulation DC FDIC Analytics 92

CFPB Monitor

SEPTEMBER 9, 2020

Ballard Spahr LLP has submitted a comment letter to the OCC in support of its proposed rule , “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”). Three virtually identical Federal Interest Statutes govern interest that may be charged by Banks: Section 85 of the National Bank Act (“NBA”), 12 U.S.C. §

FDIC 78

FDIC National South Dakota Lending 78

Jeff For Banks

JUNE 4, 2018

"The FDIC recently has observed instances of liquidity stress at a small number of insured banks." So opened the Summer 2017 FDIC Supervisory Insights issue. The national average rate for a money market account at the end of last year was 0.09%. And so went your exams. What would you do? Prepare for that. Train board members 4.

FDIC 60

FDIC System Regulation Conference 60

CFPB Monitor

JULY 22, 2020

Less than two months after issuing its final “ Madden fix” rule , the OCC has now issued a proposed rule to address when a national bank or federal savings association should be considered the “true lender” in the context of a third party relationship. Presumably, we will soon see a proposed “true lender” rule from the FDIC.

National 78

National Lending Exercises 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). making, increasing, extending or renewing a loan), the lender must review the policy to determine if it meets the mandatory purchase criteria.

Policies 60

Policies Compliance Meeting Regulation 60

PYMNTS

SEPTEMBER 25, 2017

In truth, SoFi’s odds were probably never incredibly strong – the FDIC has turned down this type of application multiple times in the past. “So, The FDIC won’t act in a vacuum,” an unnamed source told Reuters. “This departure of Mike makes that a very questionable attainment,” said Arthur Levitt, Jr.,

FDIC 108

FDIC Data Policies Report 108

Jeff For Banks

JUNE 20, 2017

The banking system is stable, which is critical to national and state economies. According to the FDIC , disparate impact occurs when a policy or practice applied equally to all applicants has a disproportionate adverse impact on applicants in a protected group. All have benefited. Depositor money is safe. Also critical.

Data 60

Data FDIC Regulation Washington 60

CFPB Monitor

APRIL 13, 2022

The GAO states that from 2010 through 2020, the CFPB, Federal Reserve, FDIC, and OCC have issued or rescinded at least 19 actions related to small-dollar loans, including rulemakings and policy statements.

Report 78

Report Lending FDIC Regulation 78

Independent Banker

JULY 29, 2016

Around the Table—Wisconsin community bankers work with legislative staff members on Capitol Hill during ICBA’s Washington Policy Summit. Washington Policy Summit. a Senate Finance Committee member, in his Capitol Hill office during ICBA’s Wasington Policy Summit. FDIC Assessment Rules. By Courtney Schoenborn.

Community Bank 70

Community Bank Community Washington FDIC 70

CFPB Monitor

OCTOBER 1, 2018

1010.100(d) — and their subsidiaries which are subject to the jurisdiction of the OCC, Federal Reserve, FDIC, or NCUA. corporations, partnerships, sole proprietorships, and trusts) to facilitate the purchases of property and casualty insurance policies, otherwise known as premium finance loans or premium finance lending.

Regulation 60

Regulation FDIC Policies Compliance 60

CFPB Monitor

NOVEMBER 29, 2021

Importantly, a national bank or federal savings association wishing to engage in any of the activities described above must notify in writing its supervisory regulator, and should not engage in such activities until it receives written notification of the supervisor’s “non-objection.”

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

Jeff For Banks

MARCH 29, 2014

The amount of deposits available to us while maintaining full FDIC insurance protection for our trust customers has consistently exceeded $30 million for the last three years. The Company plans to maintain its stringent cost control practices and policies. Continue Focus on Efficiency.

Strategy 100

Strategy Texas San Antonio Fort Worth 100

CFPB Monitor

NOVEMBER 24, 2020

The OCC observes that, in denying services, banks “are often reacting to pressure from advocates from across the political spectrum whose policy objectives are served when banks deny certain categories of customers access to financial services.” Comments on the proposal are due by January 4, 2021.

Operations 78

Operations Industry Analysis Policies 78

CFPB Monitor

MAY 6, 2019

In doing so, the court found that the term “business of banking” as used in the National Bank Act (NBA) “unambiguously requires receiving deposits as an aspect of the business.”. National Resources Defense Council, Inc. The court’s textual analysis started with a review of the powers of national banks under the NBA.

Fintech 68

Fintech New York National Regulation 68

Independent Banker

JULY 30, 2015

An interview with Paul McGuire, ICBA’s executive vice president, national solutions group. While all of ICBA’s members are FDIC-insured, the association represents Federal Reserve member banks, nationally chartered banks and state-chartered institutions. Meet ICBA’s Membership Contact. Paul McGuire. Email: paul.mcguire@icba.org.

Resources 70

Resources Tools Community Bank Community 70

Independent Banker

DECEMBER 13, 2015

The bank’s assistant vice president for cybersecurity and data security policy, he says the tool “gives you another window to look at what you have, to qualify and quantify your risk.”. These agencies had input: the Federal Reserve, the Office of the Comptroller of the Currency, FDIC and the National Credit Union Administration.

Tools 70

Tools Community Community Bank Security 70

Independent Banker

NOVEMBER 24, 2015

The bank’s assistant vice president for cybersecurity and data security policy, he says the tool “gives you another window to look at what you have, to qualify and quantify your risk.”. These agencies had input: the Federal Reserve, the Office of the Comptroller of the Currency, FDIC and the National Credit Union Administration.

Tools 70

Tools Community Community Bank Security 70

CFPB Monitor

JULY 1, 2020

The agencies are the Comptroller of the Currency, Farm Credit Administration, FDIC, Federal Reserve Board, and National Credit Union Administration. The agencies’ expectations regarding a lender’s obligation when there is a discrepancy between the flood determination form and the flood insurance policy. Detached Structures.

Policies 60

Policies Security FDIC National 60

Jeff For Banks

OCTOBER 15, 2021

Retiree: That's Not So Funny To the retiree that prefers the safe haven of FDIC insured deposits held at the local bank that lends it out locally, this is a serious issue. And I'm not so sure policy makers have the savers' best interests in mind. Heck, maybe there'll be a reassessment and your real estate taxes will go down.

Taxes 78

Taxes FDIC Guidelines Policies 78

CFPB Monitor

SEPTEMBER 24, 2019

In Madden , the Second Circuit ruled that a purchaser of charged-off debts from a national bank was not entitled to the benefits of the preemption of state usury laws under Section 85 of the National Bank Act (NBA). We have similarly advocated for the OCC’s adoption of a rule to confirm the valid-when-made doctrine.

Colorado 60

Colorado National Policies Lending 60

Independent Banker

SEPTEMBER 25, 2014

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.”. national financial services partner for the accounting and consulting firm BKD LLP in Louisville, Ky.

Compliance 101

Compliance Regulation Community Bank Community 101