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Model Management Best Practices
Read BankNews e-Digest Online 

July 18, 2012

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Four Best Practices in Model Management

By Sharon O'Connor-Clarke and Andrew Flint  

Due to the recent financial crisis, regulators are more intensely scrutinizing the risk models that financial institutions rely on in their decision-making process. In turn, financial institutions are increasingly worried about how their models and their model management practices will fare in an audit as well as in a dynamic economy. According to a recent survey of FICO banking clients, 98 percent of respondents were undergoing an audit of their model management practices, were anticipating an audit or had already undergone one or more audits. Read more>>  

Green Leaf Award Open to All Banks

BankNews is accepting entries in the 2012 Green Leaf Awards, recognizing banks across the country helping their communities and the environment. Entries are divided into asset size, giving every bank an opportunity to be recognized. To enter or for more information, click here.

DEADLIINE: AUGUST 1
HARP Refinances Continue Surge
Refinance volume is continuing to rise with more underwater borrowers refinancing through the Home Affordable Refinance Program than ever before. According to the Federal Housing Finance Agency's latest refinance report, HARP loans represented 20 percent of total refinance volume in May, the largest increase since the program was launched in 2009. The increased volume is due, in part, to record-low interest rates on 30-year mortgages and to the removal of the loan-to-value cap and certain risk-based fees enabling more borrowers to take advantage of HARP. Read more>>
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Loan Apps Handling Loan Applications:
What Can Go Wrong?

DATE: AUGUST 14  

Do you know how the term "application" is defined in all the lending regulations? Do your lenders and front-line staff understand the difference between applications and inquires? What about a pre-qualification or a pre-approval? Join this fast-paced webinar to understand the application process with step-by-step instructions and actual examples that explain the requirements of several confusing regulations in terms that are easy to understand. Click here to register.      

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ICBA Study: Tax Increases Threaten Small Businesses, Economy
The Independent Community Bankers of America and a coalition of other organizations have released results of a study on the negative economic impact of proposals to raise tax rates on small businesses and investment income. The study by Robert Carroll and Gerald Prante of Ernst & Young found that raising tax rates on Americans earning more than $250,000 and raising the top rates on capital gains and dividends would lead to fewer jobs, lower wages, a smaller economy and less small business investment. Read more>>
Remote Deposit Capture Value Calculator
Click here to see the potential savings with remote deposit capture.
Donna Deale Named Deputy Comptroller for Thrift Supervision
The Office of the Comptroller of the Currency has announced that Donna Deale has been named deputy comptroller for Thrift Supervision. In this role, Deale will report to the senior deputy comptroller for midsize and community bank supervision and lead the OCC's ongoing effort to fully integrate the supervision of federal savings associations into its mission while ensuring a balanced, consistent interpretation and application of supervisory policies to the thrift industry. Read more>>
Mobile Commerce Market Set to Accelerate With NFC Facilitating $74B in Transactions by 2015
A new study by Juniper Research forecasts that NFC will facilitate transactions valued at $74bn by 2015 as NFC is increasingly used for the payment of goods in-store and as transport tickets; this is over treble the estimated value of this market in 2011.  The increasing use of mobile devices as an alternative to credit cards and paper tickets is one of the fastest growing segments of the mobile commerce market. Read more>>
ICBA, ABA Urge Opposition to Credit Union Power Grab
The Independent Community Bankers of America and the American Bankers Association called on all U.S. senators to oppose legislation that would allow tax-exempt credit unions to expand further into business lending. In a joint letter to lawmakers, the associations wrote that legislation to raise the credit union member business lending cap (S. 2231) is counterproductive and controversial even among credit unions. Read more>>
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