Category: Industry Updates

Industry Updates

Beginning of the Year Checkup: What to Expect in 2023

As we move out of the holiday season and prepare for the new year, we wanted to take a moment and remind you of (4) HIGHLY critical issues at our doorsteps affecting lending compliance. We provide a brief summary of each of these with associated Action Items. Evaluation of the Impact of 2020 Census Changes […]

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Implementing CECL: 6 Key Considerations for Risk and Compliance Teams

You are no doubt aware of the significant changes with the implementation of the Current Expected Credit Loss (CECL) accounting standard. CECL represents a major shift in the way that financial institutions have historically estimated and set aside funds for credit losses on loans and other financial instruments. The evolving regulatory scrutiny associated with these […]

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Technological Innovation in the Community Bank Space

The banking industry is entering a new chapter as the use of technology shifts from optional to mandatory in order to remain relevant in the current global and economic environment. As of July 20, 2020, the FDIC has released a request for information as part of its initiative to promote the efficient and effective adoption […]

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Public HMDA 2019 Overview and What Lenders Should Know

Below, we provide a summary of the recently released 2019 HMDA data, and keys for understanding the importance of these data. The Basics Enacted by Congress in 1975, and implemented by Regulation C, the Home Mortgage Disclosure Act (HMDA) is considered “the most comprehensive, publicly available information on mortgage market activity.”  Its purpose is to […]

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The Final CRA Rule: Differences in the Proposed and the Final Rule

As of May 20th, 2020, the Office of the Comptroller of the Currency has finalized a new rule to “strengthen and modernize” its regulations for the Community Reinvestment Act (“CRA”). This final rule is designed to “increase bank CRA-related lending, investment, and services in low- and moderate-income communities where there is significant need for credit, […]

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FFIEC Announces Release of 2019 Public HMDA Data & OCC Finalizes Community Reinvestment Act Rule

2019 Public HMDA Data On Wednesday, the FFIEC announced availability of the 2019 public HMDA data: The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on 2019 mortgage lending transactions at 5,508 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, […]

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CRA, The Regulatory Exam Process, & The Need For Change

On May 20th, FDIC Chairman Jelena McWilliams announced that the agency would not finalize the proposed rulemaking to modernize the Community Reinvestment Act at this time.  The joint proposal also included the Office of the Comptroller of the Currency (OCC) support.  The Federal Reserve has not signed on to the proposal.  There was not a […]

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CECL, Loan Losses, and the Pandemic

The Current Expected Credit Losses standards (CECL) have once again been delayed for an undetermined period of time due to the Coronavirus Pandemic. Despite CECL implementation being pushed down the road again, forecasting credit losses is again front and center. This stems from the uncertainty created by the Pandemic and the nation’s corresponding response. The […]

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Highlights of 2018 Expanded HMDA Public Release

The long awaited release of the expanded Home Mortgage Disclosure Act Loan Application Register (HMDA LAR) Data reported by filers in 2018 is now publicly available.  These data contain elements that have not been reported by filers before, including critical loan decision attributes as well as specific data concerning loan pricing.  In all, there are […]

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FDIC Initiates Efforts to Improve the Examination Experience

Regulatory exams are a way of life in the financial industry.  Institutions, especially commercial banks, face examinations on a regular basis from both federal and state agencies.  Examinations are generally divided into (2) categories: (a) compliance and (b) safety and soundness.  Although frequency varies with the type of examination, the regulatory agency, and the size […]

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