Premier Insights, Author at Premier Insights

17Oct2017

Consumer Expectations Decline in Recent Fed Survey

The New York Fed latest Survey of Consumer Expectations suggests that consumer confidence is weakening with respect to the national economy.

12Oct2017

BISG Proxies In Fair Lending Analysis and Fund Disbursement For Remediation

There is a great deal of discussion concerning the practice of conducting fair lending analyses of non-HMDA reportable lending using proxy methods. Recall that when analyzing such data, there is no information pertaining to the race, ethnicity, or gender of the applicant. Instead, we use a proxy, a variable that is correlated with, but not equal […]

10Oct2017

FDIC to Host Important Teleconference On New HMDA Implementation

The new HMDA rules which will begin taking effect in 2018 is the single most significant compliance change with regard to HMDA since its beginning in 1975. The FDIC is hosting an important teleconference to discuss requirements and best practices.

05Oct2017

FFIEC Release of 2016 HMDA Marks End of an Era

The FFIEC announced last week that 2016 Home Mortgage Disclosure Act (HMDA) data for reporting institutions is now publicly available for calendar year 2016. Enacted in 1975, the Home Mortgage Disclosure Act requires lenders to report mortgage applications received during the prior calendar year.

03Oct2017

FDIC Agencies Adopt Final Rule on Qualified Financial Contracts; Propose Changes to Capital Rule

The Federal Deposit Insurance Corporation (FDIC) adopted a final rule to enhance the resilience and safety and soundness of state savings associations and banks supervised by the FDIC that are affiliated with systemically important U.S. and foreign banking organizations (“covered FDIC-supervised institutions”).

28Sep2017

HMDA Data Integrity: Methods for Quantifying the Risk

The emphasis of managing all aspects of regulatory compliance in the current environment center on understanding, measuring, and mitigating risk. For many facets, however, this remains esoteric due to subjectivity and the span of unknowns that surround most issues. Therefore, it is often very difficult for an institution to accomplish this with any degree of […]

26Sep2017

Fed Report Indicates GDP Growth, Positive Signs in Housing Market

The Federal Reserve Bank of New York’s “Nowcasting” economic model is designed to produce real-time measures of the economy. The purpose is to provide more frequent and current updates to traditional economic forecasts. Specifics on the methodologies employed can be found: https://www.newyorkfed.org/research/policy/nowcast/methodology.html.

21Sep2017

Agencies Announce Notice of Proposed Rulemaking Concerning Securities Transaction Settlement Cycle

The notice of proposed rulemaking (NPR), issued jointly by the FDIC and the Office of the Comptroller of the Currency (OCC), would shorten the standard settlement cycle for securities purchased or sold by FDIC-supervised institutions, national banks, and federal savings associations from three to two days (T+2).

19Sep2017

Business Leaders Survey Indicates Business Activity Increases While Optimism Declines

Activity in the region’s service sector expanded modestly, according to firms responding to the Federal Reserve Bank of New York’s September 2017 Business Leaders Survey. The survey’s headline business activity index edged down two points but, at 9.4, indicated continuing growth.

14Sep2017

Agencies to Propose Amending CRA Regulations

The federal bank regulatory agencies issued yesterday (September 13th) a joint notice of proposed rulemaking to amend their respective Community Reinvestment Act (CRA) regulations primarily to conform to changes made by the Consumer Financial Protection Bureau (CFPB) to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA).

Author: Premier Insights