Bank Innovation

APRIL 25, 2019

WASHINGTON, D.C. Both regulators said proving the necessary capital and profitability have been particularly difficult for […].

Fintech 186

Fintech FDIC Washington Conference 186

PYMNTS

DECEMBER 14, 2018

Just days after New York Attorney General (AG) Barbara Underwood announced an investigation into possible misconduct among merchant cash-advance (MCA) firms against small business (SMB) borrowers, The Washington Post reported that state legislators are vowing to push for change in the industry. The publication said on Thursday (Dec.

New York 139

New York Lending Washington Analysis 139

PYMNTS

MARCH 25, 2019

A federal judge late last week ordered a stay on the August 2019 compliance date tied to the “ payday lending rule ” mandated roughly two years ago by the Consumer Financial Protection Bureau (CFPB).

Lending 128

Lending Illinois Compliance Chicago 128

American Banker

JULY 2, 2023

Higher capital requirements tend to drive certain lending activities away from banking and toward so-called shadow banks. How regulators shore up banks without driving their customers away is the source of a spirited philosophical debate in Washington.

Capital 87

Capital Regulation Washington Lending 87

PYMNTS

MAY 28, 2019

The Federal Trade Commission has launched an investigation into the merchant cash advance industry just days after FTC Commissioner Rohit Chopra called on the watchdog to tackle unfair small business lending practices. The FTC’s Chopra spoke at a forum in Washington, D.C. ”

Washington 140

Washington New York Lending Regulation 140

PYMNTS

OCTOBER 3, 2017

Maxine Waters, the top Democrat on the House Financial Services Committee, issued a report last week suggesting that regulators might want to consider shutting down the scandal-ridden Wells Fargo. million potentially fake accounts , forcing up to 570,000 borrowers into unneeded auto insurance and allegedly discriminating in mortgage lending.

Regulation 107

Regulation Exercises Washington National 107

PYMNTS

OCTOBER 11, 2017

Last week, after five years of debates, discussions, arguments and waiting, the Consumer Financial Protection Bureau’s (CFPB) final rules for payday lending dropped. No one will argue the point that regulation is not necessary or that abuses don’t happen. All the Reactions Expected (from the People You Expected to Have Them).

Lending 109

Lending Regulation Guidelines FDIC 109

PYMNTS

NOVEMBER 26, 2020

With regulators cracking down in China, FinTech leaders are scrambling for capital and trying to plan their futures, Bloomberg reported Wednesday (Nov. And those lending in multiple provinces would have to have 5 billion yuan in registered capital at a minimum. The report said Alibaba has used such practices, among other companies.

Industry 152

Industry DC Regulation Washington 152

PYMNTS

APRIL 9, 2020

I think they’re missing a step there in Washington,” Edwards said. So we have to take that into consideration of the amount of money we know we’ve got to lend out just keep our normal lending business going,” Speight said. Bankers want to lend this money out; small businesses desperately need it. Edwards said.

Lending 285

Lending Capital Washington Risk Management 285

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

Jeff For Banks

AUGUST 2, 2014

My firm will occasionally provide feedback on correspondence to our clients'' regulators. I thought about what we should have said to the regulator, versus the sweet words I was encouraging our client to use. Below is a sample letter to your regulator, saying it like you mean it. Today we did just that. Truth is, I haven''t.

Regulation 92

Regulation DC FDIC Analytics 92

American Banker

SEPTEMBER 27, 2023

based Washington Trust over race-based lending discrimination and redlining in the state, saying the bank denied lending services to Black and Hispanic neighborhoods from 2016 to 2021. The Department of Justice reached a $9 million settlement Wednesday with Westerly, R.I.-based

Rhode Island 68

Rhode Island Washington Lending Compliance 68

Independent Banker

DECEMBER 31, 2022

Community bankers have proven vocal advocates on numerous issues facing our industry, including pushing to advance a cannabis banking safe harbor, close the industrial loan company loophole, oppose an extension of Durbin Amendment restrictions to credit cards and shape the debate over the regulation of crypto assets. My Top Three.

Community Bank 218

Community Bank Community Hawaii Washington 218

American Banker

MAY 20, 2020

Four federal agencies offered guidance Wednesday on how to offer products that compete against payday loans without incurring Washington's wrath. The announcement could spark the rebirth of deposit advances, which were regulated out of existence during the Obama administration.

Regulation 83

Regulation Washington How To FDIC 83

FICO

OCTOBER 4, 2016

The potential of alternative data in consumer lending decisions continues to be a hot topic in Washington, D.C., CRA regulations provide various methods of evaluating bank performance, corresponding to differences in institutions’ asset sizes, structures and operations.

Lending 74

Lending Data Community FDIC 74

PYMNTS

JULY 3, 2019

It appears that these products may lend themselves to an entirely new global financial system that is based out of Switzerland and intended to rival U.S. and global financial stability” if left without proper oversight or regulation. The letter was singed by committee chair Maxine Waters as well as by Reps.

cryptocurrency 132

cryptocurrency Policies United States Washington 132

CFPB Monitor

APRIL 15, 2016

The interest of federal regulators in marketplace lending continues to grow. In July 2015, the Treasury Department issued a request for information regarding online marketplace lending and, in February 2016, the FDIC published an article highlighting the risks for banks that partner with marketplace lenders.

Lending 60

Lending FDIC Washington Financial Technology 60

CFPB Monitor

NOVEMBER 28, 2022

In announcing this request, “Enhancing Public Data on Auto Lending,” the CFPB stated: Financial markets and policymakers have long had access to granular mortgage data that has provided insight into patterns in lending and risk. But, despite its size, we know much less about the auto lending market.

Data 147

Data Marketing Lending Trends 147

PYMNTS

MARCH 15, 2018

On Wednesday (March 14), the Senate passed legislation that would loosen the regulations placed on financial companies after the Great Recession, with the bill gaining bipartisan support. With the bill, more than two dozen banks will be relieved of regulations that were placed on them under the Dodd-Frank Act.

Idaho 133

Idaho Regulation Massachusetts Washington 133

PYMNTS

JULY 31, 2019

The merchant cash advance is considered the payday loan for many in the small business lending market — and that’s not necessarily a good thing. Regulators have taken note. In May, the Federal Trade Commission launched an investigation into the MCA industry and allegations of its unfair lending practices.

Lending 162

Lending Washington Technology Security 162

PYMNTS

JANUARY 31, 2019

is set to see its first new community bank in decades, as the Federal Deposit Insurance Corporation (FDIC) lent its approval for MOXY Bank to launch in Washington, D.C. The bank is one of several newly proposed community banks in the region, with goals of disrupting the financial services landscape, including business and corporate banking.

Community Bank 122

Community Bank Community FDIC Marketing 122

PYMNTS

JUNE 24, 2016

This week it was Minnesota, and then yesterday Walmart really got warmed up and announced the expansion of their new payments service in: Michigan, Virginia, the Carolinas, Indiana, Iowa, Kentucky, Nebraska, North Dakota, South Dakota, Tennessee, Louisiana, Missouri, Mississippi and Washington, D.C. Online lending . Costco Card.

Online 101

Online Lending South Dakota North Dakota 101

CFPB Monitor

NOVEMBER 12, 2018

This afternoon, Pew Charitable Trusts will host an event in Washington, D.C. focusing on Ohio’s Fairness in Lending Act. Enacted in July 2018, the Act places new limitations on payday loans including an interest rate cap, a limit on the total cost of a loan, and other structural restrictions.

Ohio 68

Ohio Lending Colorado Washington 68

PYMNTS

MAY 8, 2020

Most small businesses don’t have a lending relationship with a bank. Other ideas include more government action regarding competitive regulation. In Washington State, Frey said that “for every $1 it invests in a Main Street program, there is a $13 return to the public coffer” in the form of taxes and fees.

Maine 142

Maine Groups San Francisco Lending 142

PYMNTS

APRIL 5, 2017

As a new administration settles into Washington, D.C., Looking at bank and financial regulation closer to home, Dimon stated that the Financial Stability Oversight Council, which traces its gestation from the Dodd-Frank Act, should be revamped, adding that corporate taxes in the U.S.

Taxes 115

Taxes United States Washington Policies 115

Independent Banker

MARCH 31, 2022

ICBA president and CEO Rebeca Romero Rainey, Washington, D.C. Lucas White: We need to continue to differentiate community banks and educate policymakers on why tiered and proportionate regulation is necessary. We need to make sure people remember that and have it reflected in laws and regulations that affect our industry.

Community Bank 239

Community Bank Community Industry Texas 239

Abrigo

JULY 12, 2021

The message sent by FATF has been well received in Washington, and the hard work mandated by the AML Act of 2020 and FATF recommendations has begun. BSA Rules and Regulation. Lending & Credit Risk. AML Professionals and executives alike, hold on tight. It looks to be a busy upcoming year ahead. Learn more. BSA Training.

Training 195

Training Policies United States Report 195

American Banker

DECEMBER 30, 2020

Bank regulators traditionally steer clear of more divisive debates in a polarized Washington. But some observers worry acting Comptroller Brian Brooks has gone too far by wading into issues such as public health orders and banks' decisions to curtail services to the gun and fossil fuel industries.

Washington 83

Washington Regulation Industry Lending 83

CFPB Monitor

OCTOBER 24, 2023

The Department of Justice (DOJ) announced a settlement agreement with Washington Trust Company, of Westerly (WTC) to resolve claims that WTC redlined majority Black and Hispanic neighborhoods in Rhode Island. for its peer lenders, and on average 46.5%

Rhode Island 158

Rhode Island Washington Community Marketing 158

PYMNTS

APRIL 7, 2016

The breakup plans proposed would entail JPMC splitting the bank into at least two companies — which would break apart consumer lending from the investment/trading side. “We In 2014, the proposal was removed before it got to the voting stage.

Washington 100

Washington Regulation Leadership Community Bank 100

CFPB Monitor

OCTOBER 10, 2016

On October 13, 2016, the Brookings Institute will hold an event in Washington, D.C. ” Among the questions to be addressed are whether “regulation and policy inhibit innovation and skew benefits toward the well-to-do.” titled: “ How to make fintech work for all Americans.”

Fintech 60

Fintech FDIC Policies Washington 60

American Banker

NOVEMBER 7, 2016

WASHINGTON – The Federal Reserve's periodic survey of bank loan officers indicates that a decline in banks' share of commercial and industrial lending activity is likely related to nonbanks' ability to outcompete on both price and loan terms.

Lending 47

Lending Washington Survey Industry 47

American Banker

JUNE 29, 2016

WASHINGTON -- The Federal Deposit Insurance Corp. is launching a survey this month to collect data on the small business lending practices of insured banks.

Survey 40

Survey Lending FDIC Washington 40

CFPB Monitor

JULY 23, 2015

The Federal Trade Commission will be holding a workshop in Washington, D.C. October 30, 2015 to explore the growing use of online lead generation in various industries, including consumer lending. It will be interesting to see if the government regulators participating in the workshop include a CFPB representative.

Washington 60

Washington Regulation Lending Industry 60

PYMNTS

OCTOBER 24, 2019

First, a bit of background: The goal has been — and if things are indeed put to rest with a recent court decision — to standardize a patch quilt of regulations that must be satisfied by FinTechs on a state-by-state basis. Regulation, Law and Going Forward. Last month, a federal judge in Washington, D.C.

Fintech 101

Fintech FDIC New York National 101

Independent Banker

DECEMBER 28, 2015

We certainly closed out 2015 with great wins in Washington, so I want to thank so many of you who stepped up to make change happen last year. Also, several beneficial regulatory-relief provisions from ICBA’s Plan for Prosperity on exam cycles, privacy notices and mortgage lending were enacted. It happens because of ICBA.

Community Bank 70

Community Bank Washington Community Ohio 70

PYMNTS

MAY 19, 2017

Cybersecurity stocks, where gains into the week came in at mid-single digits for companies such as FireEye, before leveling off a bit, like others, in the wake of a broad rout on Wednesday, caused more by worries over Washington than by panic over malware. Banking on Baking (the other kind of baking): Banks are lending to bakers.

Bitcoin 131

Bitcoin Online Lending Washington 131