Abrigo
MAY 30, 2023
Takeaway 2 Reporting tiers and their deadlines are based on the number of covered transactions to small businesses that a lender originated in 2022 and 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.
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.
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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.
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." The proposed rule , unveiled Sept.
CreditStrong for Business
MARCH 3, 2023
If you don’t have any revolving credit yet, they should probably be the first account type you consider. In most ways, secured cards function identically to traditional credit cards. You can use them to complete your daily transactions, and they often provide modest cash back rewards.
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