CFPB Monitor

AUGUST 12, 2021

SB 1235 requires the DFPI to issue regulations implementing the specific requirements of the disclosures that must be given to recipients. Compliance with the new disclosure requirements is not required until the DFPI’s final regulations become effective. Modifications to the proposal were issued in April 2021.

CA 78

CA Regulation California New York 78

PYMNTS

DECEMBER 26, 2018

Daniel Houseman, partner at KPMG, contributed the following piece as part of the PYMNTS 2018 year-end eBook. . Payments innovation in 2018 has leveled the playing field, with new entrants, the rise of the customer and cross-border connectivity all enabling real-time payments almost anywhere and at virtually any time.

Innovation 128

Innovation eBook Regulation Fintech 128

PYMNTS

JANUARY 20, 2020

regulators have levied $126 million in fines for data violations since mid-2018, Google CEO Sundar Pichai calls for international cooperation in artificial intelligence (AI) governance and U.K. UK Regulators’ Data Violations Fines Top $126.5M. Regulators in the U.K. Regulators in the U.K.

Google 130

Google Regulation Data Boston 130

PYMNTS

OCTOBER 29, 2018

As a result of the passage and adoption of open banking regulations, like PSD2 in Europe, banks and other financial firms are sharing data more freely than ever before. While these initiatives are spurring more focused financial services innovations, they also come with challenges. Adapting To Open Banking .

Security 192

Security Fraud Tools Data 192

PYMNTS

JULY 24, 2019

billion IoT devices by 2025, up from 7 billion in 2018. Despite IoT’s popularity, however, security a nd privacy issues continue to make headlines. In the July Intelligence of Things Tracker™ , PYMNTS explores the latest news in IoT, including partnerships, innovations, security risks, and oversight from world governments.

Security 172

Security Regulation Industry Study 172

PYMNTS

NOVEMBER 9, 2018

percent of retailers have said they innovate to improve customer loyalty. That, in fact, is one of the main findings in the new Retail Innovation Readiness Index from PYMNTS, powered by FinTech firm AEVI. Things have changed, though, he said — one reason why that innovation finding carries such weight. “I Innovation Divide.

Innovation 174

Innovation Retail Maine Security 174

PYMNTS

DECEMBER 26, 2018

Akli Adjaoute, CEO of Brighterion , wrote this AI-focused piece as part of our 2018 year-end eBook. . 3, 2018, the U.S. Treasury’s FinCEN and Federal Banking agencies issued a joint statement encouraging innovative industry approaches to combating money laundering, terrorist financing and other illicit financial threats.

Compliance 191

Compliance System eBook Examples 191

PYMNTS

JANUARY 4, 2019

Indian tech startups had a huge year in 2018, but the way the money is being distributed has some experts concerned about the future of the country’s financial ecosystem, according to reports. Early startups were a part of 304 deals in 2018 and raised $916 million. billion in funding – the most ever. In 2017, Indian startups got $10.4

Company 162

Company Taxes Innovation Capital 162

PYMNTS

JUNE 9, 2020

The EU enacted open banking rules in 2018, inspiring regulators worldwide to reconsider how they were transacting funds or transmitting data. The COVID-19 pandemic’s impact on daily business has generated new questions surrounding these initiatives that regulators are now scrambling to answer. and the EU. Australia and Canada.

Regulation 132

Regulation Online California Regional 132

CFPB Monitor

APRIL 14, 2021

The California Department of Financial Protection and Innovation (DFPI) has issued modifications to its proposed regulations to implement SB 1235, the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances.

CA 78

CA Regulation California New York 78

PYMNTS

SEPTEMBER 17, 2020

The site reported that 1,932 BTMs were in the world in December 2017, while there were 4,009 by the close of 2018. There, people need to change a nation's money for cryptocurrency that isn’t regulated by a government or connected with it. But they have grown in popularity in markets that are not stable.

Bitcoin 178

Bitcoin ATM Security cryptocurrency 178

PYMNTS

APRIL 22, 2020

The surge in gig workers and independent contractors has professionals, service providers and regulators engaged in new debates about what it means to be an employee or a small business. ACH Innovation Breaks The Mold. One of the biggest barriers to payroll innovation in recent decades has been the process’s reliance on ACH.

Innovation 155

Innovation Payments Fintech System 155

Abrigo

APRIL 18, 2022

Innovation is key in the world of decentralized currencies The United States will have to be creative to stay competitive globally as digital assets enter the mainstream. Takeaway 3 As global interest in digital assets continues to rise, expect to see more regulation and even centralization of digital currency. Rapid Growth.

cryptocurrency 195

cryptocurrency Fraud United States Leadership 195

PYMNTS

OCTOBER 7, 2019

Merchants in the European Union (EU) are still wondering exactly what changes the regulation will bring when it comes to their relationships with customers. It is still a matter of debate on what exemptions, innovations and changes can be left up to national authorities — and what cannot. Around the PSD2 and GDPR world.

Regulation 134

Regulation Trends Compliance National 134

PYMNTS

MARCH 18, 2019

It’s been a whirlwind few weeks — OK, make that months — for big tech firms as regulators look ever more closely at business tactics. The comments of course come after controversy in 2018 that saw Facebook begin to face — and now continues to face — scrutiny over its data collection and privacy practices. Privacy and Competition.

Regulation 159

Regulation social media Google Taxes 159

PYMNTS

JANUARY 11, 2021

Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). Storonsky said Revolut wants to develop “many more innovative products” that will advance “innovation and competition” across the financial services sector. British challenger bank Revolut has submitted a banking license application to the U.K.

cryptocurrency 216

cryptocurrency Leadership Bitcoin Fintech 216

FICO

JANUARY 7, 2019

The tremendous interest in AI and machine learning drove the readership on the Fraud & Security blog in 2018. FICO are very cognizant of the impact of regulations to our business and for our clients. In fact, we pride ourselves in leveraging mathematical innovation to solve problems in the real world.

Fraud 74

Fraud Security Analytics Training 74

PYMNTS

DECEMBER 4, 2017

McAfee Labs recently published its 2018 Threats Predictions report , and after a year of high-profile cyberattacks and data breaches, analysts say the threat won’t let up in the new year. In this week’s B2B Data Digest, PYMNTS dives into new research about small businesses’ data security and cybersecurity efforts.

Security 136

Security Data Survey Regulation 136

PYMNTS

AUGUST 14, 2020

Ahead of an intended initial public offering (IPO), Alibaba Group Holding’s Ant Group has conducted a preliminary filing with the securities watchdog of China, Reuters reported. In a 2018 fundraising round, the firm was valued at $150 billion. Ant started talks with banks to bring back plans for an IPO in January.

Groups 262

Groups Security Report Regulation 262

PYMNTS

JANUARY 30, 2018

Regardless of where blockchain makes its mark, what is certain is that corporates have to trust that a largely unfamiliar innovation will work the way it should; that means securely, efficiently and easily. billion raised via controversial initial coin offerings (ICOs) have been lost to lapses in security, including phishing attacks.

blockchain 144

blockchain Security Software Tools 144

Abrigo

MARCH 7, 2022

Experts weigh in on regulatory hot topics for 2022 Review these 10 insights into what regulators are looking for in 2022 to help your financial institution pass exams with flying colors. Takeaway 1 Regulators have increased their focus on BSA in the first quarter of 2022, and the crisis in Ukraine will put OFAC in the spotlight.

cryptocurrency 195

cryptocurrency Regulation Fraud Policies 195

PYMNTS

SEPTEMBER 5, 2018

The move comes amid increasing global focus on matters related to online privacy and data security — and as the idea of regulating social media is gaining currency. The two executives told lawmakers that “they had made great strides cleaning up their sites and services ahead of the 2018 midterms,” according to The Washington Post.

social media 102

social media Security Regulation California 102

Abrigo

MARCH 11, 2022

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. Takeaway 3 NBFIs should review common deficiencies in AML programs that regulators are citing and fix issues before their next audit or exam.

Regulation 195

Regulation cryptocurrency Policies Management 195

PYMNTS

MARCH 27, 2020

While the advancement of open banking regulations may be seeing a small skip due to the spread of the coronavirus , many countries saw business and typical banking operations halted right after deciding upon new online privacy rules. Around The Data Protection And Security World. Security .

Data 199

Data Retail US California 199

PYMNTS

DECEMBER 14, 2018

They must deliver services that customers and clients demand while securing their personal data. In this month’s Deep Dive, PYMNTS examines how data can improve customers’ experiences, and how regulations can keep their data safe. More Data, More Innovation. Other data-focused regulations also went into effect this year.

Payments 180

Payments Regulation Data Security 180

PYMNTS

FEBRUARY 24, 2020

The country’s government and regulators are keeping pace with those in the European Union and the U.S. as they upgrade their online data and financial rules to support global digital banking innovations. Confronting the Chinese Privacy Myth . In China, there is [an] ever-shifting gray line,” Chorzempa said. The law is still ambiguous.

Regulation 160

Regulation Policies Data Compliance 160

PYMNTS

OCTOBER 11, 2019

Member ING Bank was fined 775 million euros ($852 million USD) in 2018 for failing to prevent criminals from siphoning millions of euros through it over a six-year period, for example. Consumers want speed and personalization, but they don’t want to sacrifice security,” he said. AML Strategies and Innovation Quirks.

Strategy 123

Strategy Innovation Fraud Security 123

PYMNTS

MARCH 7, 2019

Merchants and customers are now transacting under PSD2 and GDPR in the European Union (EU) — regulations that allow a greater window into how customer data is being used. While these regulations are aimed at increasing consumer trust by allowing them more transparency, many consumers in the region are still adjusting.

Lending 198

Lending Regulation Regional Data 198

PYMNTS

MAY 19, 2019

Wong was in charge from 2007 until 2018. Regulators are working to ensure the funds of credit union members are protected and that services at the credit union aren’t impacted by the problems. At the same time, the credit unions are on the hook to not only provide for customer experience but also security.

New York 181

New York Security Customer Experience Innovation 181

PYMNTS

SEPTEMBER 26, 2016

The newspaper cited Ripple’s use of blockchain technology and the ability of two small banks, one in Canada and one in Germany, to complete cross-border online transactions in record time as an example of the latest banking innovations. While most international bank transfers take days to complete, this took just 20 seconds.

Regulation 100

Regulation Fintech blockchain Mobile 100

PYMNTS

JANUARY 22, 2019

Last year brought the General Data Protection Regulation (GDPR) deadline, Europe’s attempt to boost online privacy and security for consumers — a law that just resulted in a $57 million fine against Google , which was accused of not doing enough to gain the consent of users when collecting data meant for targeted advertising.

Payments 195

Payments Regulation Security Data 195

PYMNTS

JANUARY 24, 2020

However, government bodies are unable to innovate at the same breakneck pace as retailers or other consumer service industries, as they must adhere to complex regulations, and ensure that their software is not leaving partners behind. Payment Challenges Stall Government Innovations . Forty-four out of the 50 U.S.

Payments 130

Payments US Fraud Innovation 130

PYMNTS

APRIL 30, 2019

Cross River and RS2 understand that technology innovators demand regulated, secure payment solutions that address dynamic, ongoing changes in the marketplace,” said Cross River Senior Vice President, Public Affairs Phil Goldfeder. “In RS2 builds payment solutions for upwards of 14 million merchants.

Digital Banking 179

Digital Banking Payments Software Fintech 179

PYMNTS

JANUARY 20, 2021

Generally speaking, that data sharing paves the way for a streamlined banking experience, especially over online and mobile conduits, via regulated providers. million in 2018 to roughly 6 billion in 2020. As for open banking here in the states, as noted in this space late last year , regulators are refocusing on the space.

Data 188

Data Innovation Fintech Regulation 188

PYMNTS

JANUARY 11, 2019

Excuse the hyperbole, but Google (and other search engines) dodged a bullet this week when it came to privacy regulations that come out of the European Union and then influence other jurisdictions. Google ran afoul of France’s national privacy regulator about three years ago for allegedly violating that right. One example?

Google 191

Google Regulation Course California 191

PYMNTS

NOVEMBER 9, 2020

there are indications that the opening of data flows between financial services companies has led to strong innovation (and demand for that innovation), and more regulation may loom. is arguably ground zero for open banking and, if investment flows are an indicator of where the FinTech-driven innovation will be, then the U.K.

Fintech 285

Fintech Data Regulation Innovation 285

PYMNTS

FEBRUARY 5, 2020

The NACHA Phixius platform enables connected service providers to securely exchange payment-related data. The innovative hub addresses the industry’s plea for an easy, automated way to exchange transaction information. He added that “Phixius changes all of that” by using congruent regulations and “leveraging blockchain technology.”.

Data 130

Data blockchain Fraud Customer Experience 130