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Fair Lending/Responsible Banking
Fair lending principles are embraced by CBA members. Regulatory enforcement, however, is an increasingly complex area of compliance, and has become even more challenging with the intense search at the state and federal levels for 'predatory lending' practices. To encourage self-evaluation, CBA helped establish a privilege for self-testing for fair lending compliance. CBA also is responding to new fair lending guidelines and protecting banks from unnecessary and burdensome small business data collection.
- October 26, 2016On Wednesday, October 26, 2016, the OCC issued a responsible innovation framework to “improve the agency’s ability to identify, understand, and respond to financial innovation affecting the federal banking system.” A new Office of Innovation, headed by Acting Chief Innovation Officer Beth Knickerbocker, will serve as the OCC’s central point of contact to respond to requests from industry and...October 20, 2016 - 2:00PMPastOctober 18, 2016 - 2:00PMPastOctober 13, 2016 - 2:00PMPastOctober 13, 2016This week, the FDIC issued a press release announcing a meeting of its Advisory Committee on Economic Inclusion has been scheduled for Thursday, October 20, 2016. The group plans to discuss the release and results of the FDIC National Survey of Unbanked and Underbanked Households. Other topics included on the Committee’s agenda include “Initial Lessons from FDIC Youth Savings Pilot,” as well as “...October 3, 2016This article focuses on how compliance leaders are executing their monitoring and testing responsibilities; how they are seeking to further enhance their monitoring and testing activities to realize greater value in their compliance efforts, the role of data and technology in compliance monitoring, and also current challenges. This article includes insights from KPMG professionals' firsthand...September 27, 2016 - 2:00PMPastWith consumer loans up 18% in two years ( TransUnion 2016 Personal Loan Forecast) , you may not be taking full advantage of a booming market. Join this webcast and learn how to use new business marketing intelligence, like geo targeting, market segmentation, and location and spatial analytics to maximize your loan marketing efforts without disrupting your current processes. You'll also learn...September 27, 2016On Tuesday, September 27, 2016, the House Financial Services Financial Institutions and Consumer Credit Subcommittee held a hearing to explore seven bills aimed at improving consumer access to banking services. Subcommittee Chairman Randy Neugebauer (R-TX) shared in his opening statement, “Today’s hearing is important to consider legislation that can have a tremendous impact on consumer credit...September 21, 2016 - 2:00PMPastAccording to the Center for Financial Services Innovation, more than half of American adults struggle financially on a recurring or occasional basis. To cope, consumers are using alternative sources to meet their financial needs—instead of turning to their banks.To more proactively support your customers, it is time to empower them to keep their financial health intact through point in time...July 15, 2016On Friday, July 15, 2016, the federal bank regulatory agencies published final revisions to “Interagency Questions and Answers Regarding Community Reinvestment.” The document provides additional guidance to financial institutions and the public on the agencies' Community Reinvestment Act (CRA) regulations. The guidance addresses questions regarding the agencies' CRA regulations in the following...