Consumer Financial Protection Bureau Issues Analysis of HMDA Data Points
Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau issued a new Home Mortgage Disclosure Act (HMDA) analysis of the 2019 HMDA Data. This data article is the second in a series and follows the first article published in June of this year.
Click the Read More button below to read the second HMDA data point article.
Banking Needs 360-Degree View of Customer Journey
The Financial Brand
With identity resolution, banks and credit unions can use device identity, browser behavior, transaction insights and other contextual data to create a single view of each customer. This improves personalization, the customer experience and marketing ROI.
Click the Read More button below to read the Financial Brand article about identity resolution.
Marquis Listed as a Top Marketing Automation Technology for Credit Unions by CULytics
Marquis has been listed on the CULytics list of Best 10 Marketing Automation Technologies that help Credit Unions in the marketing process.
Click the Read More button below to view the article.
Agencies Issue FAQs on Coronavirus, Community Reinvestment Act Activities
Office of the Comptroller of the Currency
The OCC released a list of 13 interagency frequently asked questions related to the Community Reinvestment Act (CRA) and the coronavirus pandemic. Click the Read More button for the full Frequently Asked Questions document.
OCC Finalizes Rule to Strengthen and Modernize Community Reinvestment Act Regulations
The Office of the Comptroller of the Currency (OCC)
The Office of the Comptroller of the Currency (OCC) released a final rule strengthening and modernizing the agency’s regulations under the Community Reinvestment Act (CRA).
The final rule will increase bank CRA-related lending, investment, and services in low- and moderate-income communities where there is significant need for credit, more responsible lending, and greater access to banking services. The final rule reflects careful consideration of the more than 7,500 comments stakeholders submitted in response to the notice of proposed rulemaking announced on December 12, 2019. The OCC made several changes to the proposal that respond to stakeholders’ comments.
Click the Read More button below for the full announcement.
Marquis Participates in Chalk Your Walk
Last week, Marquis employees across the country participated in the Chalk Your Walk day in their neighborhoods. Employees got together with their families to write encouraging messages on their walkways and driveways as a way to spread happiness and good will. Here are a few photos collected from the Marquis team!
Marquis Gives Back to Tennessee
Our thoughts are with our clients and the residents affected by the recent tornadoes that have
impacted the Central Tennessee region. We understand that a lot of work is needed to repair
the communities impacted. Marquis has donated to the American Red Cross to support
tornado relief efforts.
Click the Read More button below to learn more about the American Red Cross efforts in Tennessee.
Marquis Cancels 2020 User’s Conference
Because of these uncertain times, we are making decisions based on the information we have today. After considerable discussion, we have decided to cancel the 2020 Marquis User’s Conference. Click the Read More button below for our full announcement.
USPS Monitoring the Coronavirus Disease
The United States Postal Service
The United States Postal Service is closely monitoring the Coronavirus Disease 2019 (COVID-19) situation and continues to follow strategies and measures recommended by the Centers for Disease Control and Prevention (CDC) and public health departments. The CDC has information available on its website at https://www.coronavirus.gov that provides the latest information about COVID-19. We are sharing the CDC’s guidance to our employees via stand-up talks, employee news articles, messages on bulletin boards, videos and an intranet site directly to employees and within USPS workplaces.
The CDC (https://www.cdc.gov/coronavirus/2019-ncov/faq.html), the World Health Organization (https://www.who.int/news-room/q-a-detail/q-a-coronaviruses), and the Surgeon General have indicated that there is currently no evidence that COVID-19 is being spread through the mail.
The Postal Service has so far experienced only minor operational impacts in the United States as a result of the COVID-19 pandemic.
HUD Issues Improved Fair Housing Rule
The United States Department of Housing and Urban Development
The United States Department of Housing and Urban Development (HUD) published its proposed Affirmatively Furthering Fair Housing (AFFH) rule on January 7, which offers clearer guidance to states and local governments to help them improve affordable housing choices in their community.
“HUD’s commitment to Fair Housing remains as steadfast as ever before, and this improved rule reaffirms our mission of giving people more affordable housing options in communities across the country,” said Secretary Carson. “By fixing the old Affirmatively Furthering Fair Housing rule, localities now have the flexibility to devise housing plans that fit their unique needs and provide families with more housing choices within their reach.”
“Mayors know their communities best, so we are empowering them to make housing decisions that meet their unique needs, not a mandate from the federal government,” continued Carson. “Having said that, if a community fails to improve housing choice, HUD stands ready to enforce the Fair Housing Act and pursue action against any party that violates the law.”
Marquis Gives Back to Texas Scottish Rite Hospital for Children
Marquis got into the season of giving with a company-wide service project in conjunction with the Marquis Gives Back Initiative. On Thursday, December 12, Marquis employees joined together to create 5,000 activity bags to donate to the Texas Scottish Rite Hospital for Children. The activity bags will be handed to the children and their siblings when they arrive at the hospital, giving them something fun to do as they await treatment.
Marquis believes that true success is counted by how much you give. The Marquis Gives Back Initiative encourages employees to volunteer throughout the year by offering Volunteer Paid Time Off (VTO). Each employee is provided three paid days off per calendar year to volunteer with a charity of their choice.
2018 Small Business, Small Farm and CD Data Released
Office of the Comptroller of the Currency
A joint news release from the three federal banking members of the Federal Financial Institutions Examination Council (FFIEC) with Community Reinvestment Act (CRA) responsibilities announced the availability of data on small business, small farm and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA. A Fact Sheet on the 2018 data was also released.
An FFIEC disclosure statement on the reported 2018 CRA data, in electronic form, is available for each reporting commercial bank and savings association. The FFIEC also prepared aggregate disclosure statements of small business and small farm lending for all of the metropolitan statistical areas and non-metropolitan counties in the United States and its territories. These statements are available for public inspection on the FFIEC website.
OCC, FDIC Propose New Regulatory Framework for CRA
ABA Risk and Compliance
The OCC and the FDIC Thursday, December 12, proposed major changes to the regulations implementing the Community Reinvestment Act. The proposal would clarify which activities count for CRA credit, update where CRA performance is assessed, revise how CRA performance is measured and make CRA data reporting more transparent. Banks with less than $500 million in assets would be able to choose to remain under the current CRA framework.
The Consumer Financial Protection Bureau (CFPB) Issues 2020 HMDA Filing Instructions Guide and Supplemental Guide for Quarterly Filers
The Consumer Financial Protection Bureau (CFPB)
CFPB released the Filing Instructions Guide (FIG) for data collected in 2020. The FIG is a technical resource to help financial institutions file HMDA data collected in 2020 and reported in 2021. CFPB also announced a new resource, the Supplemental Guide for Quarterly Filers, to help financial institutions required to file HMDA data quarterly beginning in 2020.
Marquis Software Solutions Launches CenTrax NEXT, A New
Generation of Compliance Software
PLANO, TX (September 2019) – Marquis Software Solutions, a financial services market leader providing compliance and marketing software and expertise for financial institutions, launched CenTrax NEXT, a new generation of compliance software.
FFIEC Releases 2018 HMDA Data
By The Federal Financial Institutions Examination Council (FFIEC)
The Federal Financial Institutions Examination Council (FFIEC) released the 2018 Home Mortgage Disclosure Act data on mortgage lending transactions at 5,683 financial institutions. The data encompasses 12.9 million mortgage applications, 7.7 million of which resulted in loan originations. Of these, 10.3 million were the closed-end loans previously required to be reported under HMDA and 2.3 million were open-end loans, such as home equity lines of credit, now reported under expanded data collection requirements.
In releasing the data, the FFIEC agencies issued a clear statement of the limitations of publicly available HMDA data for fair lending examinations. “HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws,” the statement said. “The data do not include some legitimate credit risk considerations for loan approval and loan pricing decisions.”
HUD Proposes Disparate Impact Rule
By Federal Register
The Department of Housing and Urban Development (HUD) has published a proposed rule that would amend HUD’s interpretation of the Fair Housing Act’s disparate impact standard to better reflect the Supreme Court’s 2015 ruling in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc., and to provide clarification regarding the application of the standard to state laws governing the business of insurance. Comments on the proposal are due by October 18, 2019.
Small Banks, Big Data and the Personal Touch
By ABA Bank Marketing
Michael Bartoo, SVP, Marketing Client Relationships, was featured in the ABA Bank Marketing article, Small Banks, Big Data and the Personal Touch. He describes the attitude toward data at many of the banks he works with. “We get overwhelmed with big data,” he says. “The term ‘big data’ frightens us. And it should—because it can be incredibly overwhelming.”
Marquis Client, Suncoast Credit Union, Surpasses $10 Billion in Total Assets
Congratulations to Marquis client, Suncoast Credit Union, for surpassing $10 billion in total assets and maintaining its status as Florida’s largest credit union!
Patti Barrow, Vice President of Marketing for Suncoast Credit Union said, “We mean it when we say that our relationship with Marquis over the years has been an important part of the recipe that helped us achieve success in reaching $10 billion.”
Marquis remains dedicated to helping Suncoast Credit Union reach its growth goal for 2019!
Marquis Client, SafeAmerica Credit Union, Wins Marketing Association of Credit Unions (MAC) Award!
SafeAmerica Credit Union in Pleasanton, CA, a Marquis client, recently won Gold at the 2019 Marketing Association of Credit Unions (MAC) Awards for their New Member Onboarding in the Direct Mail Series – $500 Million and Less Category.
SafeAmerica Credit Union’s onboarding program objective to increase member engagement and create a multi-account relationship with new member households was one of the credit union’s strategic goals for 2018. Marquis is proud to run SafeAmerica Credit Union’s onbarding series trigger program and assist in achieving their strategic business goals.
Congratulations to SafeAmerica Credit Union for the win!
See What’s NEXT – The 2019 Marquis User’s Conference
Join us for the 2019 Marquis User’s Conference at The Westin Galleria in Dallas, Texas, October 21–22 and See What’s NEXT at Marquis!
Practical, hands-on Learning Labs and innovative speaker sessions will help you gain insights and skills which will enable you to make better decisions and achieve improved results for your customers and members.
Completing the Conversion
By ABA Banking Journal
More consumers today are digital natives, employing technology in nearly every aspect of their lives and increasingly expecting their banks to do the same. One area that’s ripe for a tech boost is the customer onboarding process. Whether it’s setting up automatic deposits or verifying a new account holder’s identity, technology is helping to streamline what has historically been a very manual set of steps. But successfully implementing digital solutions on top of an established process requires some insight into what the bank hopes to accomplish, along with a plan to maximize customers’ adoption of the new tools.
Data, Not Documents: Modernizing the Regulatory State
By Harvard Kennedy School Belfer Center for Science and International Affairs
In December 2017, The New York Times documented how “17 federal regulations with about 5,000 restrictions and rules” imposed a significant burden on an apple orchard in upstate New York. When federal regulators showed up at the farm to check compliance with labor laws, they required “ream[s] of paper” in documentation.
Marquis Software Solutions Adds Depth to Compliance Leadership Team
PLANO, TEXAS (September 2017) –Marquis Software Solutions Inc. announced today that it is bolstering its compliance leadership team with the addition of Leslie Watson-Stracener, former director of regulatory compliance for Grant Thornton LLP.
Marquis Adds DocuMatix Marketing Automation Solutions to Lineup
PLANO, TEXAS and DRAPER, UTAH (June 2017)– Marquis Software Solutions Inc. and DocuMatix LLC announced today they are combining business operations to create a single company uniquely positioned to offer banks and credit unions the marketing analytics, automation and technology solutions and services they need to grow.
Falfurrias Capital Partners Acquires Stake in Marquis Software Solutions
CHARLOTTE, N.C. (September 2016) – Falfurrias Capital Partners, a Charlotte-based private equity firm focused on investing in growth-oriented, middle-market businesses, today announced that it has purchased a majority interest in Marquis Software Solutions Inc.