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

CFPB Monitor

MAY 16, 2022

The CFPB recently issued its annual fair lending report covering its fair lending activity in 2021. . Small business lending—assessing whether there are disparities in application, underwriting, and pricing processes, redlining, and whether there are weaknesses in fair lending-related compliance.

Lending 148

Lending Report Memphis Tennessee 148

PYMNTS

SEPTEMBER 14, 2016

Comptroller of the Currency said the agency will roll out a new framework for regulating marketplace lending. Curry said officials are studying whether marketplace lending and other related innovations, including digital currencies, raise certain risks and comply with existing laws.

Lending 100

Lending Regulation Conference Study 100

PYMNTS

JANUARY 6, 2021

With no credit scores, limited financial transaction histories, and a huge amount of people who don’t even have a bank account, lending money in Vietnam is no simple task. While most financiers would run from an environment like that, CEO Toms Niparts of Jeff , an app-based lending platform based in Latvia, saw it as a huge opportunity. “We

Lending 323

Lending Fintech Data Comparison 323

PYMNTS

OCTOBER 16, 2020

trillion yuan ($219 billion) in profit by cutting lending rates and deferring loan repayments in an effort to assist firms. The banks have been asked to perform [a] national service,” CreditSights Research Analyst Jason Tan told Squawk Box Asia on (Aug. Furthermore, the Beijing government has requested that banks forfeit 1.5

Regulation 280

Regulation Lending National Marketing 280

PYMNTS

DECEMBER 23, 2019

The same framework should be in place to improve technology used by regulators in efforts to strengthen supervision throughout the industry, the think tank also says. The risk and safety lines with AI in China in the finance sector appear to be blurring.

Regulation 202

Regulation Groups Policies Big Data 202

TheGuardian

NOVEMBER 30, 2022

A new report by the Australian Prudential Regulation Authority (Apra) found climate change could make banks more vulnerable to economic downturns as they face up to a threefold increase in lending losses by 2050, but that the system should be able to absorb the impact.

Lending 84

Lending Regulation Regional Industry 84

PYMNTS

OCTOBER 29, 2018

policymakers, or Members of Parliament (MPs), are slamming financial institutions (FIs) for their treatment of small business (SMB) borrowers, and are calling on the government to overhaul business lending regulations as a result. Reports in Reuters late last week said the U.K.

Lending 162

Lending Regulation Report National 162

PYMNTS

MAY 6, 2019

The news came Thursday (May 2) that, per a ruling in federal court in New York, the State Department of Financial Services can move forward with a suit that looks to derail national bank charters for FinTech companies. The national licenses would let FinTechs lend money and paychecks to consumers.

National 165

National Fintech New York Exercises 165

CFPB Monitor

JANUARY 24, 2022

SoFi) to create SoFi Bank, National Association (SoFi Bank, N.A.), as a full service national bank headquartered in Cottonwood Heights, Utah. The bank will also provide a fully digital, mobile-first national lending platform for consumers across the country.

National 78

National Fintech Company FDIC 78

PYMNTS

OCTOBER 24, 2019

The Kenyan National Assembly is considering a law that would make mobile lenders in the country subject to central bank oversight, which would force them to reveal transactions fees and interest rates before they dole out loans. According to the nation’s central bank, “customers will be scored and advised of their credit limit.

Mobile 101

Mobile Regulation Lending National 101

PYMNTS

JULY 31, 2019

China’s banking regulation is in-flux. This week, JPMorgan Chase announced plans to take advantage of China’s new position on foreign competition, vowing to go “full force” in the nation. More recently, the CBIRC has expanded on those efforts to open China’s banking sector to foreign competition.

Lending 134

Lending Policies National Guidelines 134

PYMNTS

JULY 22, 2016

It feels like 2014 again with the ongoing popularity of alternative lending startups. It’s even more surprising given that 2016 could be the year that regulation begins to really kick in for these lenders — in the U.S., Alternative Lending. Find out how the more than $26.5 MarketInvoice. million funding round. ezyCollect.

Lending 100

Lending Regulation Big Data Risk Management 100

Gonzobanker

FEBRUARY 22, 2024

For bankers to be successful in the small business lending market, they need to execute on several key tenets: strategy, people, process and technology. Another key player for successful small business banks is the vice president of business lending, who manages the relationship managers and reports to the chief lending officer.

Lending 78

Lending Community Bank Community Strategy 78

Perficient

JULY 12, 2023

Perficient provides risk management to more than 500 financial services organizations, many of whom have multiple bank regulators. Often an organization will have a state-charted non-member bank, which has the FDIC as its primary federal regulator.

Management 221

Management Risk Management Regulation Compliance 221

PYMNTS

OCTOBER 9, 2018

However, Dave Gilbert, founder and chief executive officer of SMB alternative lending firm National Funding , said he’s seen a trend of growing traction within the small business community. In its report, S&P found nearly 50 percent of SMB borrowers are too unfamiliar with digital lenders to use alternative finance.

National 167

National Regulation Capital Industry 167

PYMNTS

MARCH 19, 2019

The country’s regulators have gotten tough on the shadow banking market in recent years. However, while regulators are happy to see shadow lending fade, the sector’s main borrowers — private companies — are feeling the strain. China’s $9.1 As a result, outstanding loans in the sector fell to ¥61.3 trillion ($9.1

Lending 100

Lending Regulation Maine Regional 100

CFPB Monitor

DECEMBER 9, 2021

In remarks given on Tuesday to the National Association of State Attorneys General (NAAG), CFPB Director Chopra promoted an aggressive approach to enforcement by both the CFPB and state attorneys general (AGs). Advocated for the expansion of state AGs’ authority.

National 78

National Lending Regulation Compliance 78

PYMNTS

FEBRUARY 25, 2019

The Conference of State Bank Supervisors (CSBS) said earlier this month that it had put in place a set of action items to standardize the national experience of FinTechs and non-bank entities. We have formed a working group of state regulators to develop the model.

Regulation 147

Regulation Fintech Community Bank Community 147

PYMNTS

SEPTEMBER 5, 2019

Regulators recently announced plans to take a closer look at the early wage access industry, but as demand among the workforce for such FinTech solutions continues to rise, experts are encouraging lawmakers to get on board with a new normal of payroll. Regulators Step In. Defenders Weigh In.

Regulation 122

Regulation Lending New York Fintech 122

PYMNTS

DECEMBER 10, 2018

And as reported by sites such as American Banker and National Law Review , a bipartisan group of senators is working on a bill that may reform the Bank Secrecy Act, which in turn may raise the threshold for reporting currency transaction reports to $30,000, from the current levels of $10,000.

Regulation 172

Regulation Fintech FDIC Innovation 172

PYMNTS

OCTOBER 1, 2019

India-based financial services provider Reliance Capital has announced it will exit the lending market. 30), Reuters reported , noting that the company is struggling to overcome “collateral damage” resulting from a slowing national economic and a broader “crisis,” the publication said, in India’s lending sector.

Capital 109

Capital Lending Regulation Operations 109

PYMNTS

JANUARY 16, 2018

The Kansas businessman – facing a 2017 conviction for violating federal truth in lending and racketeering laws in connection with his online lending business – attempted to apologize for the $3.5 Regulators spent most of 2017 cracking down on the practice. Tribal Lending . attorney Joon H.

Lending 118

Lending Miami Regulation Kansas 118

PYMNTS

AUGUST 30, 2018

29) that the government’s efforts to spur small business lending by pumping money into the financial services market has yielded only modest success. The publication pointed to the government’s conflicting policy of stricter lending rules as one reason why efforts to boost small business loan volumes hasn’t taken off.

Policies 100

Policies Lending Regulation Community 100

TheGuardian

OCTOBER 4, 2020

about the proposed “reform” of the National Consumer Credit Protection Act, I smell a very large rodent. And it means the repeal of major legislation introduced by my government to bring about uniform national laws to protect Australian consumers from unregulated and often predatory lending practices. Continue reading.

Lending 102

Lending National Regulation Course 102

PYMNTS

JULY 5, 2019

The Bank of Japan ( BOJ ), Japan’s central bank, has joined in with other regulators and officials around the world in its worry over Facebook’s proposed cryptocurrency Libra , according to reports. . The bank is worried that the currency will be difficult to regulate and that it could potentially harm the existing financial system. “It

Regulation 102

Regulation cryptocurrency United States Policies 102

PYMNTS

SEPTEMBER 12, 2016

The Securities and Exchange Board of India (SEBI) is placing pressure on the nation’s alternative lending space in a notice issued earlier this month, reports said on Friday (Sept. for example, Regulation A+ has come into effect under Title IV of the JOBS Act. In the U.S.,

Lending 100

Lending Regulation Security National 100

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. Internal foundation for growth The new MBL rule creates a foundation for commercial lending practices and portfolio growth.

Lending 150

Lending Analysis Knowledge Base System 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 .

Lending 100

Lending Regulation Kentucky Utah 100

PYMNTS

SEPTEMBER 30, 2020

The House committee held a hearing on the idea after Acting Comptroller of the Currency Brian Brooks in July proposed a new special purpose national banking charter for payments companies. That last measure aims to ensure that banks lend money and provide banking services to underserved and minority consumers.

Regulation 349

Regulation National System Industry 349

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.

Regulation 148

Regulation Groups Retail Customer Experience 148

CFPB Monitor

OCTOBER 4, 2022

The key allegations in the DOJ’s complaint are the following: During the relevant time period (2015-2021), the Newark, New Jersey-Pennsylvania Metro Division (Newark MD) as delineated in 2015 included Essex, Somerset, Union, Sussex, and Morris counties in New Jersey (Newark Lending Area). unlikely to be caused by chance) and sizeable.

New Jersey 147

New Jersey Lending Community National 147

CFPB Monitor

OCTOBER 25, 2022

While creditors are allowed to price loans differently based on objective differences in creditworthiness, New York’s Fair Lending Law prohibits discrimination against protected classes for the granting, withholding, extending, renewing of credit or in the fixing of interest rates, terms or conditions of any form of credit.

New York 78

New York Lending Community Bank Community 78

Abrigo

AUGUST 13, 2024

Banking with Interest Banking with Interest , hosted by former journalist Rob Blackwell and Intrafi Network, is a weekly podcast that headlines former regulators, current legislators, and banking industry reporters to discuss banking policy, commercial real estate risk , check fraud, and community bank consolidation.

Fraud 221

Fraud Community Community Bank Lending 221

The Paypers

MAY 24, 2022

People's Bank of China and regulators have urged the nation’s lenders to step up support for the real economy and meet credit demand.

Regulation 36

Regulation Lending Meeting National 36

CFPB Monitor

JULY 9, 2020

The agency would first offer “Payments Charter 1.0”, which he likened to a basic national money-transmitter license. He explained that while banks have traditionally provided three fundamental banking functions – deposit taking, lending, and payments – the evolving needs of financial services customers may call for a different approach. (In

National 78

National Company Payments New York 78

PYMNTS

AUGUST 7, 2018

Traditional institutions are picking up steam in their efforts to collaborate with alternative financiers and FinTech firms, largely viewed as a way to spin the competition into allies and upgrade their lending services without the burden of in-house R&D. However, the Federal Reserve ‘s latest analysis of the U.S.

Lending 100

Lending Survey National Trends 100