Abrigo

JULY 20, 2021

In a recent survey of more than 250 bankers representing banks and credit unions, 61% of respondents said their financial institution plans to maintain or increase SBA loan origination this year and beyond. Offering SBA lending at the institution is a good way to “get in the door” with good credits. 1 and Sept.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Small Businesses 78

Abrigo

DECEMBER 22, 2023

The most-read lending & credit blogs in 2023 Probability of default, CECL model validation, and stress testing were among Abrigo's top blogs on ALM, CECL, and portfolio risk this year. download NOW Takeaway 1 The most popular blog posts on the Abrigo site reflect many of the priorities community banks and credit unions had in 2023.

Credit Risk 88

Credit Risk Credit Unions Dashboards CECL 88

Abrigo

FEBRUARY 14, 2023

You might also like this checklist for preparing for the CFPB 1071 rule DOWNLOAD Takeaway 1 Bank and credit union executives are worried about complying with the CFPB's upcoming final rule on small business loan application data. Visit CFPB 1071 resources for lenders for more on data collection requirements for small business lending.

Small Businesses 78

Small Businesses Credit and Collections Credit Unions Credit Risk 78

Abrigo

JULY 28, 2017

In a recent webinar for credit union executives, Danny Sharman a risk management consultant with Sageworks addressed loan data for these institutions, especially as they look toward the currect expected credit loss model (CECL) that will be required for the allowance for loan and lease losses (ALLL).

Credit Unions 60

Credit Unions CECL Credit and Collections 60

Abrigo

AUGUST 23, 2017

“When considering member business lending and the consumer portfolio where many credit unions focus, change management to prepare for CECL can be even more difficult with a credit union,” says Danny Sharman, risk management consultant at Sageworks during a recent CECL webinar – Data Quality for Credit Unions.

Credit Unions 60

Credit Unions CECL Credit and Collections 60

Abrigo

AUGUST 11, 2016

According to the Credit Union National Association (CUNA) , credit unions had a record year in 2015, with 3.7 This impressive growth is not surprising when you consider these three ways credit unions are excelling. banks and credit unions.

Credit Unions 60

Credit Unions Law Firms Credit and Collections 60

Abrigo

MARCH 13, 2024

How to respond to CRE loan distress Use these tips for banks and credit unions to identify and handle commercial real estate loans that are showing signs of being problem CRE credits. Bring together the deal team, credit approvers, and workout experts to discuss and determine the grade and next steps.

Credit Unions 88

Credit Unions CECL Default Credit Risk 88

Abrigo

JUNE 2, 2015

Overall auto lending at credit unions is up more than 30 percent in recent years, a positive sign that CUs remain competitive in an evolving banking landscape. In a recent article from Credit Union Times , 71 million consumers had an auto loan in the first quarter of 2015, the most since the recession and an increase of 1.2

Credit Unions 60

Credit Unions Credit and Collections 60

Abrigo

JUNE 3, 2016

The Financial Accounting Standards Board’s (FASB) long-awaited final guidance on its new standard for measuring expected credit losses is expected to be released in June, a step that will be a major milestone in the multi-year development of the current expected credit loss (CECL) model. 15, 2020, based on the FASB’s latest decisions.

Credit Unions 68

Credit Unions CECL Credit and Collections Accounting Firms 68

Abrigo

AUGUST 19, 2015

These amendments, if adopted, would lessen current restrictions to make it easier for credit unions to lend to businesses. While credit union lending to businesses has been on the rise over the last several years, the proposed MBL changes would allow the institutions to grow this area of their portfolios.

Credit Unions 60

Credit Unions Credit and Collections 60

Abrigo

MAY 30, 2023

Timelines for small business loan data collection and reporting Deadlines for complying with the new CFPB section 1071 rule requirements for financial institutions to collect data on small business loan activities. Takeaway 3 The earliest deadline requires financial institutions to begin collecting data Oct.

Credit Unions 78

Credit Unions Credit and Collections Transactions Small Businesses 78

Abrigo

AUGUST 8, 2021

Independent Loan Review Systems in Banking Banking regulators have outlined expectations for effective, independent loan review and credit risk review. . Takeaway 1 A system for ongoing, independent credit risk review will not look the same from institution to institution. Would you like other articles on loan review in your inbox?

Credit Risk 78

Credit Risk Credit Unions CECL Credit and Collections 78

Abrigo

APRIL 22, 2024

Recent dynamics of the small business lending market A deep understanding of the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S.

Credit Unions 97

Credit Unions Small Businesses Credit and Collections Credit Risk 97

tillful

FEBRUARY 2, 2023

Can a checking account help or hurt your credit score? In most cases, the answer is neither — it doesn’t connect to business credit at all. However, there are some exceptions, and credit scoring models may be moving in that direction in the future. Do checking accounts affect your credit score?

Credit Scoring 52

Credit Scoring Credit and Collections Credit Unions Credit Reporting Agencies 52

tillful

FEBRUARY 20, 2023

Is your business credit in rough shape? A well-managed business credit card can help you get your scores moving in the right direction. However, it can be hard to get approved for one with bad credit (or no credit). For example, you may be asked to pay $500 to get a $500 credit line. So, where should you turn?

Credit Scoring 52

Credit Scoring Credit Unions Credit and Collections Small Businesses 52

Abrigo

MARCH 14, 2024

You might also like this SMB Lending Insights report for banks and credit unions Download report Takeaway 1 Banks need to implement customer retention strategies to keep their valuable customers, not just attract new ones. Follow this guide for strategies to stay competitive. Read the buyer's guide to lending solutions.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Small Businesses 78

Abrigo

JULY 27, 2023

How banks and credit unions can leverage regtech What FI staff members need to know when considering implementing regtech in the banking sector. Takeaway 3 Banks and credit unions considering regtech should make sure their provider is adaptable and their institution is ready for implementation. What is regtech?

Credit Unions 78

Credit Unions Credit and Collections Transactions 78

Abrigo

JULY 27, 2023

How banks and credit unions can leverage regtech What FI staff members need to know when considering implementing regtech for banks. Takeaway 3 Banks and credit unions considering regtech should make sure their provider is adaptable and their institution is ready for implementation. What is regtech?

Credit Unions 78

Credit Unions Credit and Collections Transactions 78

Abrigo

JULY 25, 2023

This article describes what financial crime staff need to know about how the FedNow Service works and what to do now to prepare fraud and AML functions for the bank or credit union’s implementation of this service. FedNow sends a payment message to the supplier’s credit union and asks if it will accept it.

Credit Unions 78

Credit Unions Credit and Collections Transactions 78

Abrigo

SEPTEMBER 29, 2022

Essential technology for modern lending and credit departments. Learn more about what they are and how they help banks and credit unions gain needed efficiency in the loan administration process. The software also regularly provides detailed reports about project status, which helps keep track of payments and collections.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Transactions 78

Abrigo

NOVEMBER 9, 2022

Takeaway 1 10% of banks and credit unions have completed CECL adoption, according to Abrigo's CECL implementation survey. With just weeks left to complete CECL implementation, how are banks and credit unions doing? What are their biggest challenges with the current expected credit loss model?

CECL 78

CECL Credit Unions Credit and Collections Credit Risk 78

RMAi Blog

APRIL 13, 2023

Credit cards and debit cards can be confusing. Credit cards allow you to use other people’s money while debit cards only let you spend your own money. How a Credit Card Works: Before you can get a credit card, you will have to complete a credit application. When you use a credit card, you pay the bill later.

Credit and Collections 130

Credit and Collections Credit Unions Deductions Credit Application 130

Abrigo

MAY 19, 2023

You might also like this webinar, "Return to basics: Asking the right credit risk questions." WATCH Takeaway 1 Loan review officers must figure out how to adhere to the FDIC’s guidance on loan review and credit risk review systems. Read more for specific objectives every loan review system should meet.

Credit Risk 78

Credit Risk Credit Unions Credit and Collections Small Businesses 78

Biz2X

FEBRUARY 27, 2024

This rule requires financial institutions to collect and provide data on lending to small businesses, aiming to enhance transparency, accountability, and fair lending practices. Larger lenders are required to collect and report data earlier, with thresholds set to ensure comprehensive coverage.

Credit and Collections 52

Credit and Collections Credit Unions Small Businesses Credit Application 52

Abrigo

MARCH 21, 2023

Takeaway 2 Some banks and credit unions were late movers and are now scrambling to lock in funding for the short term to meet liquidity and capital needs. To add insult to injury, many banks and credit unions that had large surge deposit balances from COVID have been seeing those funds leave.

Credit Unions 78

Credit Unions CECL Credit and Collections Credit Risk 78

RMAi Blog

MAY 3, 2023

is a nationally licensed and bonded receivables management firm located in West Seneca, NY, specializing in credit union collections, passively purchasing non-performing credit cards, auto deficiency, mortgage loans, revolving or installment loans, and Chapter 13 bankruptcy receivables portfolios.

Nonprofit Organizations 100

Nonprofit Organizations Credit Unions Bankruptcy Credit and Collections 100

tillful

MAY 12, 2023

A poor business credit score or thin credit history can get in the way when applying for small business loans. This is especially true in higher interest rate environments, when lenders pull back on credit (like now). For instance, you may choose to improve your credit score at this stage before you start your loan applications.

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Default 98

Abrigo

AUGUST 30, 2022

Expanding the commercial loan portfolio in today's market With the right strategies, banks and credit unions can expand their commercial loan portfolios successfully. Takeaway 3 Risk mitigation is essential to understanding the impact of lines of credit on profitability and allowance. Market conditions. Knowing the why.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Small Businesses 78

Abrigo

JANUARY 11, 2022

Takeaway 2 Rather than helping financial institutions avoid risk entirely, ALM helps ensure a bank or credit union's risk exposures represent levels in line with policy limits. . An ALM model is a bank or credit union leader’s best friend when used and maintained properly. The logical example here is credit risk.

Credit Unions 78

Credit Unions Credit and Collections Credit Risk Default 78

Abrigo

AUGUST 28, 2019

Ask the staff of banks and credit unions about the loan application, underwriting, and onboarding processes at their respective institutions, and you’ll likely hear some complaints from them, too. A look at the steps of an institution relying on manual processes and an institution utilizing technology sheds light.

Credit Unions 60

Credit Unions Credit and Collections Credit Risk Credit Scoring 60

Abrigo

NOVEMBER 8, 2015

As a result, at Sageworks, we have received many questions from our clients – banks and credit unions alike – about the steps to data preparedness. Credit unions face a distinct challenge in that, generally, borrower data for a credit union is stored in several different core processing or decisioning systems.

Credit Unions 68

Credit Unions CECL Credit and Collections 68

Abrigo

FEBRUARY 11, 2022

Current expected credit loss (CECL) implementation won’t be delayed again, the Financial Accounting Standards Board (FASB) has decided, leaving smaller SEC registrant and private financial institutions a 2023 deadline for adopting the critical accounting standard. FASB Board Decision. No More CECL Delays. Other concerns cited in the Feb.

CECL 78

CECL Credit Unions Credit and Collections 78

Lendio

JANUARY 13, 2023

In Accounts Receivable (AR) factoring, you sell your AR to a factoring company, which then collects from your customers. You get a percentage of your receivables up front and the balance (minus the factoring fee) when the invoice is collected. When the invoice is due, the funder collects payment from the customer. AR Financing.

Credit and Collections 94

Credit and Collections Accounts Receivable (AR) Credit Scoring Credit Unions 94

CreditStrong for Business

MARCH 9, 2023

When making improvements to your credit score, watching for any small movements can be anxiety-inducing. Credit score updates can happen on a daily basis. However, most people won’t notice it change that often because many credit monitoring tools only update credit scores once per month. That’s not entirely true.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit and Collections Credit Card Payments 52

Abrigo

JUNE 23, 2023

You might also like this on-demand webinar on the new CFPB small business data collection rule Watch Takeaway 1 Banks and credit unions often face challenges implementing data warehouses and are not pleased with the result. Stay up to date on the CFPB 1071 data collection rule and other lending compliance topics.

Credit and Collections 78

Credit and Collections Credit Risk Credit Unions Dashboards 78

Abrigo

DECEMBER 14, 2023

King outlined the following best practices for developing and refreshing your strategic plan and encouraged banks and credit unions to make them an integral part of board meetings. It’s essential to involve your board and executive management in pre-planning steps to ensure everyone’s input is collected and heard.

Credit Risk 88

Credit Risk Dashboards Credit and Collections CECL 88

RMAi Blog

DECEMBER 14, 2022

The Assurance of Discontinuance alleges the retailer was targeted in a cyberattack in 2018 resulting in customers’ credit card numbers and login credentials being made available for sale on the dark web. RMAI is collecting donations for the 2023 Annual Conference Silent Auction, sponsored by Kino Financial. Miss a Webinar?

Law Firms 130

Law Firms Credit and Collections Credit Unions Debt Collections 130