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.
While the Paycheck Protection Program and COVID-19 rightly dominated much of community banks’ attention this year, 2020 still brought some regulatory changes.
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.
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.
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.
Making sure your community bank’s commercial loans are compliant may mean borrowing strategies from the world of consumer loans.
Many community banks invest in low- and moderate-income neighborhoods to make lasting impacts while also getting Community Reinvestment Act, or CRA, credit. This work to aid and rebuild communities is the direct result of the close ties community banks develop with the people they serve. Here’s how three community banks are making powerful investments under the CRA.
This year, many businesses have prioritized diversity and inclusion. But what are regulatory agencies doing to track and enforce diversity and inclusion (D&I) in the financial industry? Here’s what community banks should consider from a compliance perspective.
Like most businesses, community banks are leveraging more and more on vendors and other third parties. But these companies come with risk attached. Managing third-party risk means being diligent before, during and after a contract or relationship has run its course.
ICBA is engaging regulators so that examiners will recognize the extraordinary circumstances of COVID-19 come exam time.
