On January 18, 2018, the House passed H.R.2954, the Home Mortgage Disclosure Adjustment Act. The bill exempts certain depository institutions from collecting and reporting various expanded HMDA data points in the CFPB’s 2015 amendments to Regulation C that became effective on January 1, 2018.
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Jelena McWilliams has been sworn in as the 21st Chairman of the Federal Deposit Insurance Corporation (FDIC). She succeeds Martin J. Gruenberg, who has served on the FDIC Board since August 22, 2005, as Vice Chairman and Acting Chairman before becoming Chairman on November 29, 2012.
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An initial release of calendar year 2017 public HMDA data is now available. Historically not made available until early fall of the following year, these data were released in early May.
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Likely benefiting from rising interest rates and a strengthening economy, net income at community banks increased 17.7% from first quarter of 2017 based on the FDIC Quarterly Banking Profile. (available at https://www.fdic.gov/bank/analytical/qbp/2018mar/qbpall.html).
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The Federal Financial Institutions Examination Council (FFIEC) is releasing the customer due diligence and beneficial ownership sections of the FFIEC Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual.
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One of the first questions before beginning any type of statistical analysis is what data are included and how should the sample or samples be formulated and segmented. In previous posts, we have addressed various nuances in regard to regression modeling and how the inappropriate application of regression and modeling techniques to real world issues […]
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With the proliferation of Fintech, even smaller community banks are exploring different forms of automation in the lending process in an attempt to improve speed and efficiency of their processes. As online lenders now expand into the once sacred ground of small business lending (traditionally been dominated by the community bank), there are pressures […]
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The Federal Deposit Insurance Corporation (FDIC) is developing and testing a standardized export of imaged loan documents in an effort to streamline examination processes. This initiative is anticipated to improve efficiencies during onsite examination activities and provide additional opportunities for conducting examination activities offsite.
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The deadlines for implementation of the new Current Expected Credit Losses (CECL) are fast approaching. The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation are inviting public comment on a joint proposal to address changes to U.S. generally accepted accounting principles […]
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Economist Karl Popper referred to science as the “art of systematic over-simplification.” Indeed, if science is discovery and knowledge creation, that certainly cannot take place through “systematic over-complication.” Knowledge can only be created by that which is understood, and often the pathway there is through simplification.
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