Abrigo

MAY 20, 2020

FinCEN reminds financial institutions that “detecting, preventing, and reporting COVID-19 scams and illicit activity is critical to our national security.” Lending & Credit Risk. Member Business Lending. SBA Lending. Lending & Credit Risk. SBA Lending. Lending & Credit Risk. SBA Lending.

Lending 195

Lending Fraud Training Report 195

CFPB Monitor

AUGUST 9, 2018

3334 captioned “ The Military Lending Improvement Act of 2018” in the United States Senate to “expand and improve” credit protections afforded to service members by the Military Lending Act (MLA) and the Fair Debt Collection Practices Act (FDCPA). 3334, which has been referred to the Committee on Banking, Housing and Urban Affairs.

Lending 84

Lending United States Florida Data 84

CFPB Monitor

JULY 8, 2019

The CFPB’s annual fair lending report covering its 2018 activities was published in today’s Federal Register. In addition to discussing the symposium and Data Point report in the section on “Access to Credit,” the new fair lending report discusses conducting supervisory reviews of alternative credit scoring models.

Lending 60

Lending Report Policies Compliance 60

CFPB Monitor

SEPTEMBER 9, 2015

On August 27, 2015, the CFPB issued two Technical Reports: one on the National Mortgage Database (NMDB), and the other on the National Survey of Mortgage Borrowers (NSMB). Technical Report 15-01 National Mortgage Database. Technical Report 15-02 National Survey of Mortgage Borrowers. Sutherland.

National 60

National Survey Report Data 60

PYMNTS

OCTOBER 1, 2018

Business lending in Australia probably won’t face tougher loan regulation when it comes to small business loans. The banking and financial services Australia royal commission released its interim report late last week, covering consumer lending, financial planning, business lending, farm finance and Indigenous finance.

Lending 135

Lending Regulation National Report 135

PYMNTS

FEBRUARY 23, 2020

The combination of Fifth Third Bank’s renowned brand, customer reach and great products with our digital lending platform will allow us to collectively serve the Bank’s customers with best-in-class products and a best-in-class customer experience.” The news comes a few years after a bank referral scheme began in the United Kingdom.

Customer Experience 130

Customer Experience Innovation Strategies Guidelines Meeting 130

CFPB Monitor

APRIL 29, 2015

The CFPB has issued a fair lending report covering its fair lending activities during 2014. The report states that in 2014, CFPB fair lending supervisory and public enforcement actions required institutions to provide approximately $224 million in remediation.

Lending 60

Lending Report Policies Compliance 60

PYMNTS

MARCH 10, 2020

Traditional banks will require credit histories and collateral to underwrite a small business loan, both of which many SMBs in Southeast Asian nations lack. Improving The SMB Lending Experience. It’s a self-perpetuating scenario that keeps barriers to capital in place. Asymmetric Information Exchange.

Data 193

Data Lending Capital social media 193

CFPB Monitor

JULY 27, 2020

The Bureau’s Fair Lending Supervision program initiated 14 supervisory events during the period covered by the report, which is 2 fewer than the number of such events initiated during the period covered by the prior semi-annual report.

Report 78

Report Lending Leadership National 78

PYMNTS

JULY 19, 2017

Alternative lending has shifted from a competitor of traditional FIs to a collaborator, often lending a digital hand to banks in need of upgrading their systems to provide faster, more agile financing to SMEs. s Big Four banks, with alt lending firms and P2P lenders acting as key vessels for BBB funding. businesses.”.

Lending 138

Lending Capital Report Customer Experience 138

PYMNTS

SEPTEMBER 4, 2019

The Times reported this week that fewer than 800 businesses were referred to an alternative lender under the scheme, leading to just $19.36 The program launched toward the end of 2016 , but so far only 1,700 businesses have been referred to alternative providers of capital under the program, reports noted. A total of $38.7

Data 109

Data Operations Community National 109

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. 2) Funds the loan.

National 78

National Lending Exercises FDIC 78

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. The loan amount a borrower can get from a pawnbroker is determined solely by the value of the item itself; as in most forms of short-term lending, there is no credit check.

Ohio 151

Ohio Lending Iowa South Dakota 151

Independent Banker

JANUARY 31, 2022

“There’s really not a lot we can’t do,” says Travis Edlund, senior vice president and regional manager of the San Antonio market for Amarillo National Bank. Amarillo National Bank (ANB) in Amarillo, Texas, plans to open its first full-service retail branch in the home of the Alamo this year, but the $7.6-billion

Texas 182

Texas San Antonio Community Bank Community 182

PYMNTS

MAY 8, 2020

“We’ve been advocating for grants even before the PPP was passed, knowing it would be problematic,” Arensmeyer said in a Forbes interview , referring to the Paycheck Protection Program being implemented by the Small Business Administration as part of the federal stimulus effort. Some don’t have any relationship with a bank.

Maine 142

Maine Groups San Francisco Lending 142

CFPB Monitor

MAY 22, 2020

The Federal Reserve, OCC, FDIC, and NCUA have issued “ Interagency Lending Principles for Offering Responsible Small-Dollar Loans.” In that statement, the agencies indicated that they were “working on future guidance and lending principles for responsible small-dollar loans.”. Federal law (12 U.S.C.

FDIC 78

FDIC Policies Lending Guidelines 78

PYMNTS

DECEMBER 19, 2016

Analysts are no longer confident that alternative players will disrupt the SME lending space as once thought. More than $109 million was invested in alternative lending by state-owned British Business Bank (BBB), according to reports last week. Still, others remain sure the sector is doing just fine. The use of U.K. ” A 0.5%–0.75%

Lending 100

Lending Capital Data Report 100

CFPB Monitor

JUNE 12, 2020

Marlette Funding, LLC et al , arises from an enforcement action filed in 2017 by Colorado’s UCCC Administrator challenging a bank-model lending program involving a New Jersey state-chartered bank. Section 27, which applies to state banks, is patterned after Section 85 of the National Bank Act, which applies to national banks.

Colorado 78

Colorado FDIC Analysis National 78

Abrigo

MARCH 9, 2017

Terms range broadly based on the interests of the bank and the activities and needs of the CDFI—from short term operating lines of credit to long term loans that support a CDFI’s lending to affordable housing and community facilities developers, for example. Department of the Treasury both maintain lists of CDFIs by geography.

Community 246

Community San Francisco Capital Philadelphia 246

PYMNTS

JUNE 11, 2018

Also in Australia, and apropos to small business lending, Prospa delayed issuing additional shares on the country’s stock exchange, in part due to pressure from financial services regulators in that country. Closer to home, in the U.S.,

Regulation 100

Regulation Community Bank Lending Industry 100

PYMNTS

APRIL 15, 2019

Citigroup CEO Michael Corbat responded that leveraged lending is seeing growth outside of the regulated financial system (he pointed to mortgage and auto lending), and so is not yet posing a systemic risk. Dimon said leveraged lending and student lending are “growing rapidly … and deteriorating rapidly.”

Lending 175

Lending United States Survey System 175

PYMNTS

FEBRUARY 14, 2018

Wells can still lend and take deposits. In reference to corporate governance, Wells has two months to boost board oversight and compliance efforts. There’s a lot of different metrics that you look at, but they’re all pointing to a slow but steady recovery,” he said, without giving any specifics.

Regulation 100

Regulation Conference Compliance Lending 100

PYMNTS

JANUARY 9, 2018

With big banks pulling back from small and medium-sized business (SMB) lending in the wake of the global financial crisis, the market was ripe for someone else to fill the credit gap. Community banks approved 49 percent of SMB loan applications in November, according to the latest data from the Biz2Credit Small Business Lending Index.

Community Bank 131

Community Bank Community Fintech Lending 131

CFPB Monitor

NOVEMBER 22, 2022

While the report does not address “true lender” challenges in bank/fintech lending relationships, it does discuss the risk of “so-called ‘rent-a-charter’ schemes that market themselves as innovative fintech lending platforms, but operate with essentially the same harmful business model as a traditional payday lender.”

Fintech 78

Fintech Report Data Lending 78

Independent Banker

APRIL 30, 2022

Brazos National Bank. Douglas National Bank. In order to compete as a small bank, we have been forced to keep higher-than-peer capital levels, so that our lending limit allows us to service local borrowers’ needs. FSNB, National Association. Pioneer Trust Bank, National Association. AMG National Trust Bank.

Community Bank 172

Community Bank Community Montana Taxes 172

CFPB Monitor

NOVEMBER 21, 2019

In that decision, the Second Circuit held that a nonbank that purchased charged-off loans from a national bank could not charge the same rate of interest on the loan that Section 85 of the National Bank Act (NBA) allowed the national bank to charge. Midland Funding. The OCC’s rule would be added to 12 C.F.R.

FDIC 78

FDIC National Lending Policies 78

CFPB Monitor

SEPTEMBER 27, 2018

Among other things, it removes examination procedures related to burdensome “ability to repay” requirements as well as references to OCC Bulletin 2013-40’s risk management expectations.

Handbook 60

Handbook Risk Management Lending Meeting 60

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

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. We think it clear that the statutory reference to the “business of banking” is not “plain and unambiguous.”

Fintech 68

Fintech New York National Regulation 68

PYMNTS

JUNE 10, 2016

Said charter will mean that Circle will face tighter scrutiny but great ease operating on a national scale. Officials at the Office of the Comptroller of the Currency (OCC), the national bank regulator, told the Boston startup they would weigh its request. And I think that’s the sea change in attitude here at the OCC.”.

Regulation 100

Regulation National Austin Fintech 100

CFPB Monitor

NOVEMBER 24, 2020

The OCC notes that, in the case of energy industries, the terminated services were not limited to lending “where risk factors might justify not serving a particular client,” but also included advisory and other services unconnected to credit or operational risk. Comments on the proposal are due by January 4, 2021.

Operations 78

Operations Industry Analysis Policies 78

CFPB Monitor

NOVEMBER 4, 2022

FHFA focuses on appraisals that report a valuation lower than the contract sales price of the home, which the FHFA refers to as an “undervaluation.” The FHFA also notes that in 2021 on a national basis, 15.2% Lenders selling loans to Fannie Mae and Freddie Mac must submit appraisal information in the UAD format. .

North Carolina 78

North Carolina Charlotte Compliance National 78

Independent Banker

JANUARY 31, 2022

Relyance is working to increase its mortgage lending but sometimes isn’t able to make loans for some customers. Under the newly launched partnership, Relyance refers customers to Southern Bancorp Community Partners for counseling. Recently, Southern Bancorp partnered with $1.1 to better serve low-income borrowers. Closing the gap.

Community Bank 172

Community Bank Community Leadership Arkansas 172

PYMNTS

NOVEMBER 11, 2016

Researchers declared this was a serious threat to the nation’s economy. ’s bank referral scheme , a move that requires banks to refer SMEs to alternative lenders if rejected for a loan. “SMEs play a huge role in the success of the U.K. economy,” Close Brothers’ report concluded.

Survey 183

Survey Report Community Meeting 183

Independent Banker

NOVEMBER 30, 2022

Clockwise from top left: Grand Ridge National Bank, Wheaton, Ill.; When a community bank’s employees refer to it as “a second family,” it speaks volumes, and that’s exactly what we heard from the team at Bank of Montana in Missoula, Mont. He always refers to us as his coworkers. Grand Ridge National Bank: The premier league.

Community Bank 169

Community Bank Community Montana Leadership 169

CFPB Monitor

FEBRUARY 14, 2019

Last week, the CFPB added the following update to its blog post about the proposal: The original headline [which referred to “companies”] suggested that the proposed Disclosure Sandbox would be open only to “fintech companies.”

Policies 68

Policies Groups Fintech Lending 68

BankUnderground

AUGUST 23, 2023

Typically these products are provided by newer fintech firms, for whom BNPL makes up most or all of their lending. For these lenders, BNPL products are relatively new and make up a very small part of their lending business. We have included credit and store cards as a reference point. Who uses BNPL? or leave a comment below.

Survey 98

Survey Groups Regulation Data 98