How banks can tighten up their overdraft practices

A pair of recent reports by the Consumer Financial Protection Bureau warns against banks abusing their overdraft practices beyond what’s lawful. Here’s how the CFPB is cracking down and what community banks can do to maintain overdraft oversight.

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UDAAP policy update for 2022

With a recent executive push for the Consumer Financial Protection Bureau to resume its enforcement efforts, we look at how banks can increase prevention, mitigate risk and, most important, maintain compliance against potential UDAAP violations.

Now is the time to prepare for the FedNow launch

The FedNow Service is launching in early 2023, giving community banks about a year to plan. Here’s how community bankers, payments experts and fintech vendors suggest using the time to prepare.

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Compliance changes coming this year

Driven by uncertainty around the pandemic, few compliance reforms were realized in 2021. This year, regulators are considering reforms centered on the Community Reinvestment Act, the Fair Housing Act and more.

How did compliance change in 2021?

This year has largely been a quiet time for regulatory and compliance reform. But while community banks were focused on the economic recovery of their communities, a few changes came during 2021.

Are banks taking advantage of the CECL extension?

The CARES Act extended the CECL implementation deadline for many larger community banks until the end of the COVID-19 pandemic. Community bankers tell us that while the extension is welcome, they’re already down the road to implementation.

Will D&I requirements change this year?

Some lawmakers on Capitol Hill are increasingly interested in diversity and inclusion (D&I) compliance requirements for financial institutions. Here are the key areas of D&I policies and practices that community banks may need if these requirements change or become mandatory.

What’s a special-purpose credit program?

In an effort to help financial institutions expand access to credit, the CFPB recently addressed regulatory uncertainty around special-purpose credit programs, or SPCPs. These programs are intended to help those who would not otherwise have access to credit.

Chief risk officers on how they manage today’s risks

The more community banks grow, the more risk they take on. Chief risk officers are the ones behind the scenes making growth possible. Four CROs sound off on their increasingly important role within community banks.