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.
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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).
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The national economic state appears to continue in the holding pattern observed over the last few years according to data through September 5th of this year.
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Understanding and managing exceptions to loan policy is a critical component of a financial institution’s fair lending risk management. It is important to understand how exceptions are defined and how they are tracked and managed. In today’s post, we focus on the former and will discuss options for management in the future.
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The FDIC has released its Summer edition of its Supervisory Insights Journal. The Summer 2017 issue of Supervisory Insights features two articles of interest to examiners, bankers, and supervisors.
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As we have noted previously, banks across the board are performing better in regard to earnings. This is in part due to an improving economy and consumer confidence, but also to the rising rate environment. Although rates are still at historic lows, prime is one percentage point above the 10 year low of 3.25 and […]
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New guidelines were released last week (August 23, 2017) for HMDA transaction testing. The guidelines explain the testing procedures and the error tolerance thresholds for resubmission of HMDA. Institutions in which a review reveals the amount of errors exceeds these tolerances will be required to resubmit their HMDA data.
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The FDIC Reports Insured Institutions Earn $48.3 Billion in The Second Quarter of 2017 & Community Bank Net Income Rises to $5.7 Billion in Second Quarter 2017
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We have discussed previously some general aspects of managing the regulatory fair lending examination process. In this post we discuss one of the most critical aspects: specifically – the criteria interview.
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The state of the economy was the subject of one of our posts last week. The New York Fed has just released a concise and useful summary of current indicators. These are summarized below.
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