Regulation

Carranza gets a big start at the SBA

September 30 marked the close of the 2020 fiscal year for the country; what an enormous year it turned out to be for the U.S. Small Business Administration. When Jovita Carranza was confirmed SBA Administrator in January, there was no way for her to know the agency was on the cusp of its biggest mission since the SBA was created in 1953: Help the country and its small businesses navigate a pandemic-induced recession.  [Continue]

Regulators giving increased scrutiny to bank IT

Heightened regulatory expectations around cybersecurity, pandemic planning and business continuity are driving IT matters from banks’ back rooms to their board rooms. In our day-to-day business, we interact with a lot of bank examiners — both assisting client banks across the United States and on our own behalf as a regulated technology service provider to financial institutions. [Continue]

Tech contest

The FDIC has launched a competition to create a next-generation data gathering system for the banks it supervises. Some two dozen companies are participating in the effort to create tools that will make data collection more comprehensive, more timely and less burdensome. FDIC Chair Jelena McWilliams told the Wall Street Journal she’d like the system to be so robust that it eventually replaces the call report. [Continue]

Who was the intended PPP target?

Who were the intended PPP grant recipients? At first, it was any company with fewer than 500 employees but then companies with access to other sources of investment, particularly the capital markets, were deemed ineligible. As news about the program spread, some suggested that profitable companies shouldn’t be eligible for the money. [Continue]

Meet your FDIC Ombudsmen

Daniel Marcotte, veteran ombudsman for the FDIC’s Chicago region, and Brent Klanderud, recently appointed ombudsman for the FDIC’s Kansas City region, spent several days this spring visiting with industry professionals to explain how they advocate for bankers who might be dissatisfied with their examiner processes or the end result. [Continue]

CFPB chief argues against self-interest

Kathleen Kraninger, the Trump-selected director of the Consumer Financial Protection Bureau, is emerging as a very intriguing public official. Criticized early on as inexperienced, Kraninger has turned out to be refreshingly selfless. Confirmed by the Senate last December on a straight-line party vote, Kraninger is attempting to take partisan politics out of the CFPB leadership job. [Continue]

The long, winding DIF road

It has been a slog for the industry to get to this point, and while the credits are appreciated, the environment was still better in the 1990s when many banks paid no premiums at all. But given how much things have changed in the last 25 years, the post-crisis premium structure seems appropriate. [Continue]