Where does your bank get legal advice? Apr 01st 2021 12:04am on Advocacy, Compliance, Focus, General, Regulation & Compliance Where does your bank get legal advice? Apr 01st 2021 12:04am on Advocacy, Compliance, Focus, General, Regulation & Compliance Community banks are complex organizations with a multitude of liabilities. That’s why having sound legal advice from a firm or general counsel is increasingly necessary. Here’s what to consider when hiring a firm or internal legal professional.
The overdraft regulations that you need to know Feb 01st 2021 12:02am on Consumer, Focus, Regulation & Compliance This past year, the Consumer Financial Protection Bureau (CFPB) fined a national bank for misinforming its accountholders about its overdraft services fees. A handful of regulations apply to banks offering overdraft programs.
Why we need Black-owned banks Feb 01st 2021 12:02am on Advocacy, Banks, Industry Insight, Regulation & Compliance, slide Black-owned community banks have a long history of serving Americans historically left out of the mainstream banking system. Many well-established community banks continue this legacy today, but one troubling trend has emerged in the past two decades: The number of Black-owned banks is steadily declining. How can the industry advocate for change to help these banks—and their customers—thrive?
How community banks serve immigrants Feb 01st 2021 12:02am on Banks, Consumer, Focus, Industry Insight, Operations & Management, Regulation & Compliance, Retail When people come to live in the U.S. from other countries, they often don’t have an American credit history, identification or other typical requirements of the account-opening or loan process. But community banks are finding ways to serve this growing population while mitigating credit and compliance hurdles.
Fraudsters’ latest target? UI benefits Jan 01st 2021 12:01am on Focus, Fraud/Security, General, Regulation & Compliance, Tech Criminals have stolen more than half a billion dollars by taking advantage of the surge in unemployment claims during the pandemic. Luckily, most of this money has been recovered. Here’s what you should know about this scheme.
What 2021 will mean for the CRA, PPP and more Jan 01st 2021 12:01am on Focus, General, Regulation & Compliance The pandemic may have brought attention away from compliance and regulatory changes, but some of that may return this year. Regulators are weighing reforms regarding the Community Reinvestment Act, Home Mortgage Disclosure Act, Paycheck Protection Program and more.
The year’s compliance challenges you need to know Dec 01st 2020 12:12am on Focus, General, Regulation & Compliance While the Paycheck Protection Program and COVID-19 rightly dominated much of community banks’ attention this year, 2020 still brought some regulatory changes.
From redlining to modernization: A CRA overview Nov 01st 2020 12:11am on Advocacy, Compliance, Focus, Regulation & Compliance The Community Reinvestment Act was designed to stop redlining, the impact of which is still felt in metro areas today. We look at the past and current CRA, including upcoming revisions from regulators.
How the pandemic is affecting risk management Nov 01st 2020 12:11am on Focus, General, Regulation & Compliance Because of the pandemic, experts say stress testing loan portfolios is more important than ever. But COVID-19 has changed risk management, and regulators are making accommodations amid the crisis.
How data analytics is boosting regtech’s potential Oct 01st 2020 12:10am on Focus, Regulation & Compliance, Tech Facing pressure from increasing regulation, community banks are increasingly able to use data analytics and ever-evolving regtech to make their compliance automation more effective.
