Perficient

AUGUST 16, 2023

Heartland Tri-State began operations in 1985 under the name First National Bank of Elkhart. In 2017, the bank was converted from its National Charter to a Kansas state-chartered bank and renamed Heartland Tri-State Bank. In 2019, it expanded by buying its fourth branch from a competitor.

United States 221

United States Kansas FDIC Risk Management 221

PYMNTS

FEBRUARY 17, 2020

increased regulation over content delivered online through platforms may be on the horizon. This past week, Britain’s federal government said its media regulator, known as Ofcom, would be given new oversight to monitor and regulate material posted on the web by companies such as Facebook, Google and Twitter. In the U.K.,

Regulation 140

Regulation Google Operations Company 140

FICO

JANUARY 18, 2019

Despite advances in customer due diligence, including the addition of advanced analytics to compliance officers’ toolkits, the scandals of 2018 confirmed that many banks are struggling to bring their operations up to regulators’ standards, to say nothing of best practices. Know Your Customer. Detection and Alert Handling.

Compliance 40

Compliance Regulation Taxes Analytics 40

PYMNTS

OCTOBER 5, 2020

Regulation. By providing a national servicing platform, the charter would enable those kinds of companies to bypass the process by which they have to collect money transmitter licenses from states. Data Activist: Big Tech Not Following Transatlantic Data Transfer Regulations. antitrust regulation. Last week, a U.S.

Data 229

Data Google Compliance Apple 229

PYMNTS

FEBRUARY 9, 2018

The world’s first ICO regulations are coming, care of Gibraltar. The rapid global proliferation of initial coin offerings has become an issue of mounting concern among regulators and central banks around the world – in particular, the growth of ICOs has fueled massive growth in the cryptocurrency market in general.

Regulation 106

Regulation cryptocurrency United States Security 106

PYMNTS

JANUARY 25, 2021

A representative for the eCommerce retailer told Reuters that the company calls for an international approach in lieu of taxes levied by different nations. The news comes as the continent may be getting ready to scrutinize large tech companies with new regulations regarding illicit content and antitrust.

Taxes 141

Taxes Google Compliance Apple 141

PYMNTS

FEBRUARY 7, 2020

The National Payments Corporation of India (NPCI) provided the firm with permission to put WhatsApp Pay into operation in a phased manner, The Business Standard reported. . Almost two years after its experimental run, the Facebook-owned messaging service WhatsApp has received regulatory approval for its WhatsApp Pay platform in India.

Mobile 267

Mobile Compliance Payments National 267

PYMNTS

OCTOBER 13, 2020

Across the globe, terrorists and criminals are leveraging cryptos in what is gearing up to be a significant national security threat to the United States. The report relays a series of anecdotes, such as Ponzi schemes and other fraudulent methods , and points out that in 2019, over $4.5 That’s according to the U.S.

cryptocurrency 206

cryptocurrency United States social media Regulation 206

Abrigo

JUNE 8, 2021

Real consequences from OFAC sanctions violations OFAC compliance has increased in complexity and clarity with guidance released within the past few years and institutions need to take notice to avoid penalties. Importance of Compliance. A Framework for OFAC Compliance Commitments. OFAC sanctions can have real world impact.

Compliance 195

Compliance Software Case Study Payments 195

CFPB Monitor

MAY 2, 2019

We are pleased to announce that Ballard Spahr’s Consumer Financial Services Group has once again been ranked in the highest tier nationally in the category of Financial Services Regulation: Consumer Finance (Compliance and Litigation) by Chambers USA: America’s Leading Lawyers for Business.

National 68

National Groups Regulation Compliance 68

PYMNTS

SEPTEMBER 11, 2019

Jamal El-Hindi, the deputy director of the Financial Crimes Enforcement Network (FinCEN), spoke at the 2019 Money Transmitter Regulators Association Annual Conference on Wednesday (Sept. 11) about the importance of innovation and the regulation of non-banking financial institutions (NBFI), according to a release.

social media 116

social media Compliance Innovation Regulation 116

FICO

MARCH 7, 2023

Home Blog FICO Responsible AI: Are European Firms Ready for the Regulators? There are significant changes coming in Europe, which highlight getting a handle on responsible AI use, with the banking and financial services sector among those that will be most impacted by increasing regulation.

Regulation 52

Regulation America Compliance Fraud 52

PYMNTS

JANUARY 2, 2020

The finance ministry in India passed a new regulation saying that companies with sales of more than ?50 The new regulation went into effect on Jan. RuPay is a payment network offered by National Payments Corp. The fine for non-compliance is going to be ?5,000

Cards 130

Cards blockchain Retail Cyber Security 130

PYMNTS

FEBRUARY 24, 2020

The country’s government and regulators are keeping pace with those in the European Union and the U.S. Foreign firms and regulators tend to think of Chinese laws as either too strict, wide-reaching or lax — perceptions that have failed to keep up with local regulations’ developments. “In he remarked. “I

Regulation 160

Regulation Policies Data Compliance 160

PYMNTS

JUNE 18, 2020

The London-based trade group for Europe’s ePayments community is waiting for the European Banking Authority , the European Union (EU) banking regulator, to provide the 27-nation bloc with an update on Strong Customer Authentication (SCA). The implementation delay gives regulators an opportunity to get it right, Rodgers said.

Groups 131

Groups Regulation Fraud Security 131

CFPB Monitor

JUNE 4, 2019

I am delighted to share the news with our blog readers that Ballard Spahr has been shortlisted for a Chambers USA Firm of the Year award in the Financial Services Regulation category. The shortlist nominees were drawn from a list of about 30 firms ranked by Chambers USA in the area of Financial Services Regulation this year.

Groups 79

Groups New York City New York Regulation 79

PYMNTS

SEPTEMBER 23, 2020

A study from the Cifas National Fraud Database found that identity theft against consumers over the age of 61 rose by 22 percent in 2019, contributing to an 18 percent increase in identity theft overall. billion in 2019. British banks spend upward of £6.7 billion ($8.9

Technology 208

Technology Report Fraud Study 208

Jeff For Banks

NOVEMBER 24, 2019

September 1st, 1999, regulators from the Federal Deposit Insurance Corp, at the behest of the Office of the Comptroller of the Currency, descended on a small coal mining town in Keystone, West Virginia. Clearly, blue-suit regulators stood out. The bank, First National Bank of Keystone, was $1.1 You can't make this stuff up.

National 78

National West Virginia Virginia Pennsylvania 78

CFPB Monitor

JULY 8, 2019

The Bureau identifies mortgage lending discrimination, including redlining, as the focus of its fair lending enforcement efforts. It states that at the end of 2018, it had a number of pending fair lending investigations into redlining and other areas involving a variety of consumer financial products.

Lending 60

Lending Report Policies Compliance 60

PYMNTS

MARCH 18, 2019

But with education, employment, criminal and other records being heavily regulated and difficult to gather, verifying consumers can be a time-consuming and expensive process. I see the growing need to authenticate consumers being ignored because of even more concern over data sharing, privacy infringement and hacking. “I

Fraud 108

Fraud Knowledge Base Regulation Data 108

Abrigo

JANUARY 27, 2020

The National Credit Union Administration (NCUA) has been working on their share of goal setting, as they have released their 2020 supervisory priorities for credit unions, regulation updates, and the agency’s modernization programs. “We BSA Rules and Regulation. The new year often brings a time of reflection and goal setting.

Risk Management 195

Risk Management Regulation Management Report 195

PYMNTS

JANUARY 6, 2020

The most intriguing PSD2 news comes from those that are just now implementing its changes, such as Turkey, which has followed other late bloomers in adopting PSD2 standards with just over a month left in 2019. Preparedness helps with confident compliance . Turkish institutions.

Regulation 131

Regulation Industry Data Regional 131

PYMNTS

JUNE 7, 2019

19, 2019 compliance date for the mandatory underwriting provisions for its short-term, small-dollar (payday) rule, according to various reports. Compliance is being delayed 15 months, to Nov. The Bureau of Consumer Financial Protection (CFPB) has delayed the Aug. The CFPB is also correcting several errors in the rule.

Compliance 134

Compliance Lending Policies Meeting 134

PYMNTS

OCTOBER 28, 2019

Wayfair case that allowed states and individual cities to launch tax policies aimed at remote sellers and marketplaces is still reverberating in 2019 and will likely affect online retail in 2020. In Q3 2019, 14 states started collected online sales tax and 11 more followed in October. eBay Makes a Deal.

Taxes 102

Taxes Online San Jose South Carolina 102

Abrigo

JUNE 13, 2022

According to the National Council on Aging (NCOA), this heartless crime is most likely under-reported due to victims' embarrassment. More banks are reporting to APS, rising from 62% in 2017 to 81% in 2019 and 78% in 2021. BSA Rules and Regulation. BSA Rules and Regulation. BSA Rules and Regulation. Learn More.

Fraud 195

Fraud Training United States Survey 195

CFPB Monitor

MAY 17, 2021

The program is free and available for use by all military personnel, including National Guard and Reserve members. In 2020, the CFPB received over 40,800 complaints from servicemembers, a 14% increase over 2019. The Report also offered an analysis of complaints received from servicemembers.

Report 78

Report Compliance Leadership Analysis 78

Abrigo

DECEMBER 20, 2021

In addition, the CDD procedures were deemed deficient until revised in 2019, and CBOT did not conduct a lookback for possible higher-risk customers that may have been missed. If your CDD program is not intact, now is the time to tighten things up and watch for new regulations. and CDD will be top of regulators' minds for some time.

Resources 195

Resources Texas Analysis System 195

CFPB Monitor

APRIL 22, 2021

The agencies are the Comptroller of the Currency, Farm Credit Administration, FDIC, Federal Reserve Board, and National Credit Union Administration (Agencies). Recently, federal agencies proposed revisions to the Interagency Questions and Answers Regarding Flood Insurance. Comments on the new proposed Q&As are due by May 17, 2021.

Policies 60

Policies Compliance Meeting Regulation 60

PYMNTS

APRIL 18, 2019

Between 2018’s fourth quarter and 2019’s first, the average cost of a ransomware attack spiked by a whopping 89 percent to $12,762. Shaping Regulations. As a result, the DOJ, for the first time , placed information about digital currency wallets on its Specially Designated Nationals (SDN) and Blocked Persons list.

Bitcoin 143

Bitcoin cryptocurrency Compliance Community 143

PYMNTS

FEBRUARY 4, 2020

Congress can regulate sports gambling directly, but if it elects not to do so, each state is free to act on its own.”. In a microcosm of the national expansion, New Hampshire’s newly online sports gambling program raked in $2.31 As 2019 turned into 2020, DraftKing announced it was merging with Diamond Eagle Acquisition and SBTech.

Online 134

Online New Hampshire Rhode Island District of Columbia 134

CFPB Monitor

MARCH 15, 2022

In 2019, California enacted AB 539 which, effective January 1, 2020, limited the interest rate that can be charged on loans of $2,500 to $10,000 by lenders licensed under the California Financing Law (CFL) to 36% plus the federal funds rate. Section 7.4001(e). The DFPI is not alone in asserting a “true lender” claim.

California 78

California Innovation Utah West Virginia 78

CFPB Monitor

JANUARY 12, 2021

The CFPB created the Taskforce in October 2019 to examine ways to harmonize and modernize federal consumer financial laws. Volume II (100 pages) contains the Taskforce’s specific recommendations (which number 102) for improving and strengthening the application of financial laws and regulations. Equal access to credit.

Report 78

Report Regulation Policies Compliance 78

CFPB Monitor

DECEMBER 23, 2020

On December 21, 2020, the CFPB issued its third consent order involving violations of Subpart B of Regulation E, 12 C.F.R. §§ 1005.30 to 1005.36, the Remittance Transfer Rule (“Remittance Rule”) in the last four months and fourth order since August 2019. Failed to maintain error resolution and recordkeeping policies and procedures.

Policies 78

Policies Compliance Taxes Report 78

CFPB Monitor

SEPTEMBER 10, 2020

In 2019, California enacted AB-539, the Fair Access to Credit Act (FACA), which, effective January 1, 2020, limits the interest rate that can be charged on loans of $2,500 to $10,000 by lenders licensed under the California Financing Law (CFL) to 36% plus the federal funds rate. A number of states have challenged these regulations.

Utah 78

Utah California FDIC West Virginia 78

PYMNTS

NOVEMBER 16, 2018

Other nations that are looking at adopting Open Banking — along with rollouts of APIs — include Hong Kong, with APIs slated for debut in 2019 and Australia, which is eyeing Treasury Open Banking by next summer. After the compliance boxes are checked, that is when the innovation in terms of new financial and products will kick in. “It

Data 159

Data Compliance Innovation Survey 159

PYMNTS

OCTOBER 19, 2020

Banks are typically required to establish direct links with financial institutions (FIs) in other nations to make or receive cross-border payments. The SWIFT network processed $77 trillion in cross-border transactions in 2019, accounting for approximately 60 percent of all cross-border transactions.

Technology 193

Technology Payments Security Survey 193

PYMNTS

FEBRUARY 28, 2020

million-member Desjardins Credit Union, fell victim to one in June 2019. A National Association of Federally-Insured Credit Unions (NAFCU) survey found 82 percent of credit unions were negatively affected by data breaches stemming from local businesses in the past two years, for example. Data Breaches Within And Without.

Data 131

Data California Security Pennsylvania 131