Abrigo

MAY 30, 2023

Despite the seemingly long runway to prepare, it's not too early to get a handle on the new requirements and how they will affect a bank or credit union. At Abrigo’s recent ThinkBIG conference, hundreds of bank and credit union staff members attended information sessions on the issue.

Credit Unions 78

Credit Unions Credit and Collections Transactions Small Businesses 78

RMAi Blog

APRIL 13, 2023

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. A credit limit is the total amount you can charge on the card at any given time.

Credit and Collections 130

Credit and Collections Credit Unions Deductions Credit Application 130

Biz2X

FEBRUARY 27, 2024

Section 1071 of the Dodd-Frank Act amended the Equal Credit Opportunity Act (ECOA), directing financial institutions to compile, maintain, and submit specific data on credit applications and lending decisions for women-owned, minority-owned, and small businesses, with the goal of fostering transparency, accountability, and fair lending practices.

Credit and Collections 52

Credit and Collections Credit Unions Small Businesses Credit Application 52

Abrigo

MAY 5, 2017

Instead, applicants have more gripes about the process they encountered at financial institutions than about the financial aspects of their transactions, according to the 2016 Small Business Credit Survey by the Federal Reserve. That percentage increased to 67 percent among applicants with revenue of $1 million or less.

Credit Unions 60

Credit Unions Credit Application Small Businesses Transactions 60

Fundera

MARCH 8, 2016

Younger, smaller businesses tend to have more trouble finding business loans from banks, which accounts for the accompanying increase in credit unions and especially online lenders. . With over half of all credit applications heading towards small banks, they clearly have an immense influence on lending in the United States.

Small Businesses 76

Small Businesses Credit Unions Credit Application 76

Abrigo

NOVEMBER 22, 2021

Banks and credit unions extending payments on vehicle loans, personal loans, or other consumer loans had to ensure they provided accurate disclosures in compliance with federal and state consumer protection laws. Consumer lending compliance spotlight. Get the latest best practices for Consumer Lending.

Credit and Collections 78

Credit and Collections Debt Collections Credit Unions Credit Risk 78

Abrigo

SEPTEMBER 14, 2022

What banks need to know as the CFPB gets closer to its final rule Banks, credit unions, and other creditors may be required to collect more data for each application under a new rule. You might also like this webinar: "Fortify Your Loan Policy to Effectively Manage Credit Risk." Commenters have until Nov.

Credit and Collections 78

Credit and Collections Credit Unions Credit Risk CECL 78