article thumbnail

Cannabis lending for financial institutions: Opportunities, risks, and best practices

Abrigo

Now that the cannabis industry is maturing and better understood, is it time for financial institutions to take on the risk of cannabis lending? Cannabis-related businesses (CRBs)spanning everything from cultivation to retailrepresent a market in need of lending services, from working capital to real estate and equipment loans.

Lending 195
article thumbnail

Breaking down SBA lending: What is E-Tran?

Abrigo

While significantly more efficient than mailing forms to the SBA, there are some shortfalls to E-Tran, and a vendor can help Loan submission platform Leveraging E-Tran for increased SBA lending The U.S. Understanding the role of E-Tran in SBA lending is the first step for banks and credit unions to ensure smooth loan processing.

Lending 379
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to avoid costly BSA enforcement actions: Proactive steps for bank compliance

Abrigo

Invest in employee training : BSA/AML compliance is a bank-wide responsibility. Annual training sessions should be mandatory for all employees to understand the red flags of suspicious activity and their reporting responsibilities. Your staff should undergo AML/CFT training annually to support your BSA efforts.

article thumbnail

Developing loan reviewer training: What personnel need for success

Abrigo

Loan reviewer training and development What might a loan review curriculum look like and how can your financial institution develop good loan reviewers? WATCH Takeaway 1 Loan review departments often lack funds for training and education, but a shortage of experienced loan reviewers is a challenge for many banks.

Training 195
article thumbnail

CRA compliance: A data-driven strategy

Abrigo

The latest CRA framework categorizes banks (CRA requirements are not extended to credit unions) into three tiers based on asset size, with differing compliance requirements: Small banks (assets under $600 million) Can opt-in to the new CRA tests or remain on a streamlined lending test that focuses on retail activities.

article thumbnail

Lending and credit risk resources: The top downloads of 2023

Abrigo

Abrigo's most popular whitepapers and checklists on lending and credit risk Abrigo experts' insights on CFPB 1071, loan policies, and risk ratings were popular with banking professionals. Watch NOW Takeaway 1 Abrigo's experts produced many pieces on lending and credit risk to provide strategies and tools to help banking professionals.

Resources 221
article thumbnail

Small business lending insights Vol. 1

Abrigo

Recent data and trends of the small business lending market SMB Lending Insights is a snapshot of current financial trends and metrics that impact small and medium-sized business (SMB) lending and financial institutions. You might also like this guide for smarter, faster small business lending.

Lending 221