Perficient

SEPTEMBER 6, 2023

The regulators feel that this proposed LTD rule would: Improve the resolvability of these banking organizations in case of failure, Potentially reduce costs to the Deposit Insurance Fund, and Mitigate financial stability and contagion risks by reducing the risk of loss to uninsured depositors.

Regulation 221

Regulation DC Capital Washington 221

Perficient

AUGUST 16, 2023

Bank Closed By Regulators Almost all bank closures happen on a Friday so that regulators can work all weekend to reopen the bank on Monday. On Monday, July 31, 2023, all four branches of Heartland Tri-State Bank were reopened as Dream First Bank branches. In 2019, it expanded by buying its fourth branch from a competitor.

United States 221

United States Kansas FDIC Risk Management 221

Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence Perficient’s Risk and Regulatory Center of Excellence (CoE) remains at the forefront of evolving financial rules and regulations, ensuring readiness to tackle emerging challenges and safeguard financial institutions and its customers.

Compliance 221

Compliance New York Regulation Analysis 221

Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector.

New York 221

New York Compliance Regulation Analysis 221

South State Correspondent

OCTOBER 26, 2023

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. The discussions were healthier, more compliance-focused, and with little expectations that banks were going to offer crypto to their customers any time soon.

Conference 221

Conference Las Vegas Fraud Case Study 221

Abrigo

NOVEMBER 9, 2022

Financial institutions work to meet Q1 2023 CECL deadline A CECL implementation survey by Abrigo found progress by financial instittuions is mixed ahead of the upcoming deadline. . In many cases, financial institutions adopting CECL for the 2023 deadline are tracking ahead of where SEC registrants were as they faced a 2020 deadline.

Survey 195

Survey Software Resources Meeting 195

Perficient

DECEMBER 21, 2023

A Brief Overview Initially slated for comments by November 30, 2023, the proposed rule mandates specific financial institutions to issue and maintain a minimum amount of outstanding long-term debt (LTD), including: Large depository institution-holding companies U.S. Learn More: U.S. Email: Send your comments to regulationshelpdesk@gsa.gov.

DC 221

DC FDIC Washington Compliance 221

Banking Exchange

JANUARY 6, 2023

Regulators have started 2023 with warnings surrounding investment in crypto for banks Risk Management Feature Feature3 Blockchain Bitcoin Cryptocurrency Digital Compliance Compliance/Regulatory.

Regulation 78

Regulation Risk Management Compliance Bitcoin 78

CFPB Monitor

FEBRUARY 22, 2024

Our special guest is Richard (“Rick”) Hackett, former Assistant CFPB Director responsible for auto finance regulation and presently a member of the Board of F&I Sentinel, which supports lender compliance in the auto finance and insurance industry.

Regulation 78

Regulation Compliance Retail Industry 78

Perficient

JULY 12, 2023

Perficient provides risk management to more than 500 financial services organizations, many of whom have multiple bank regulators. Often an organization will have a state-charted non-member bank, which has the FDIC as its primary federal regulator.

Management 221

Management Risk Management Regulation Compliance 221

CFPB Monitor

FEBRUARY 15, 2024

Our special guest is Richard (“Rick”) Hackett, former Assistant CFPB Director responsible for auto finance regulation and presently a member of the Board of F&I Sentinel, which supports lender compliance in the auto finance and insurance industry.

Regulation 78

Regulation Compliance Retail Industry 78

Abrigo

MAY 30, 2023

DOWNLOAD Takeaway 1 The effective date of the CFPB's new rule based on Section 1071 of the Dodd-Frank Act is June 28, 2023. But compliance deadlines are tiered. 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.

Compliance 195

Compliance Lending Data Regulation 195

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 221

Training Compliance Fraud Policies 221

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 195

Training Compliance Fraud Policies 195

Perficient

JANUARY 23, 2024

Additionally, these branches underwent annual on-site inspections to ensure compliance with regulations. This shift also led to technological advancements enabling firms to closely monitor broker activity to ensure full compliance at all times. Elimination of registration costs associated with registering all RSLs as branches.

Compliance 221

Compliance Regulation Industry Maine 221

Abrigo

DECEMBER 22, 2023

The most-read lending & credit blogs in 2023 Probability of default, CECL model validation, and stress testing were among Abrigo's top blogs on ALM, CECL, and portfolio risk this year. download NOW Takeaway 1 The most popular blog posts on the Abrigo site reflect many of the priorities community banks and credit unions had in 2023.

Lending 221

Lending Risk Management Community Management 221

Abrigo

JANUARY 24, 2024

FDIC list The state of acquisitions in a rising rate environment According to the FDIC, there were 44 banks on the problem bank list in the third quarter of 2023, and the agency expects that number to continue to climb in 2024. Find out what auditors and regulators will be looking for as it relates to CECL.

FDIC 195

FDIC Regulation Strategy Data 195

Perficient

JANUARY 3, 2024

Additionally, these branches underwent annual on-site inspections to ensure compliance with regulations. This shift also led to technological advancements enabling firms to closely monitor broker activity to ensure full compliance at all times. Elimination of registration costs associated with registering all RSLs as branches.

Compliance 221

Compliance Risk Management Regulation Industry 221

PYMNTS

OCTOBER 16, 2019

The Cost of Compliance. Scandal and fraud tarnishing banks’ reputations aside, the impact that AML compliance controls have had on these banks’ bottom lines can’t be underestimated. banks have to analyze AML regulations before even beginning to innovate, and the rules in question change often. Challenges and Solutions.

Compliance 123

Compliance Fraud Study Digital Banking 123

Abrigo

FEBRUARY 11, 2022

Firm deadline for CECL implementation set As expected, the FASB agreed to uphold CECL’s 2023 implementation date. You might also like " CECL Streamlined: A Webinar Series for 2023 Adopters". Takeaway 1 The FASB agreed to uphold the 2023 implementation date for those that haven’t yet adopted the CECL standard. CECL Regulation.

Resources 195

Resources Regulation Community Bank Community 195

Abrigo

DECEMBER 19, 2022

Checklists, guides, and more to help you and your AML-CFT staff Thousands of FinCrime professionals have accessed these guides, checklists, and other resources produced in 2022 by Abrigo's team, which includes former bankers, BSA officers, and regulators. . Would you like other articles like this in your inbox?

Resources 195

Resources Training Fraud Compliance 195

Abrigo

DECEMBER 28, 2022

Cybercrime, sanctions compliance, and cryptocurrency troubles are bound to be trends for anti-money laundering/countering the financing of terrorism (AML/CFT) and fraud professionals to track in the coming months. Others explain common and emerging fraud trends that compliance staff are working to prevent.

Fraud 195

Fraud Training Compliance Regulation 195

PYMNTS

AUGUST 14, 2019

We have received the data localization compliance system audit report from WhatsApp, which shall be reviewed in the next few weeks,” a Mumbai-based representative for NCPI said, according to Bloomberg. India’s digital payments market is expected to hit $1 trillion by 2023, according to a report by Credit Suisse Group AG.

Compliance 100

Compliance National Payments Trends 100

Abrigo

JUNE 19, 2022

New Fed Tool: ELE for 2023 CECL implementation The Federal Reserve's new Expected Loss Estimator, or ELE, tool for CECL is a spreadsheet-based option for smaller financial institutions to implement the current expected credit loss standard. You might also like these webinars especially for 2023 CECL adopters: "CECL Streamlined."

Tools 195

Tools Regulation Data Resources 195

Perficient

NOVEMBER 10, 2023

Transaction Accounts Regulators classify transaction accounts under the Monetary Control Act of 1980 and the Federal Reserve Regulation D for federal reserve requirements on deposit liabilities. In the first quarter of 2023, these balances plunged over 40% due to reported U.S. bank failures but rebounded in the second quarter.

Risk Management 221

Risk Management United States FDIC Compliance 221

Alex Jimenez

NOVEMBER 4, 2023

Regulation and Compliance: Not one of the more exciting topics, but there seems to be a growing emphasis on FinTech regulation and compliance, particularly around industry stability and consumer protection. A version of this post was published on LinkedIn, November 1, 2023.

Conference 84

Conference Meeting Trends Fintech 84

Abrigo

JANUARY 30, 2024

REGISTER Takeaway 1 Banking and compliance professionals rely on ThinkBIG to elevate their understanding of industry shifts and regulatory pressures. Banking and compliance professionals rely on the annual conference to elevate their understanding of industry shifts and regulatory pressures that hammer them daily.

Conference 195

Conference Arizona Phoenix Fraud 195

CFPB Monitor

JUNE 26, 2023

On June 16, 2023, Michael J. Hsu, Acting Comptroller of the Currency delivered remarks to the American Bankers Association Risk and Compliance Conference in San Antonio, Texas. In his remarks, Hsu discussed both the benefits and risks of artificial intelligence (“AI”) and tokenization. Continue Reading

San Antonio 78

San Antonio Texas Conference Compliance 78

Gonzobanker

JUNE 14, 2023

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act. If only it were so easy.

Compliance 109

Compliance FDIC Strategy Fintech 109

CFPB Monitor

OCTOBER 5, 2022

On October 3, 2022, the Federal Reserve finalized a rule expanding Regulation II (Debit Card Interchange Fees and Routing), the implementing regulation for the Durbin Amendment. The final rule will be effective July 1. Given this continued uncertainty, I do not support the final rule.”.

Regulation 78

Regulation Cards Community Bank Community 78

Abrigo

JANUARY 3, 2024

Takeaway 2 A December 2023 final rule establishes guidelines for who may access BOI and for what purposes. Treasury’s Financial Crimes Enforcement Network (FinCEN) recently issued a new regulation on the requirements, including how AML staff will access the information through a new federal beneficial ownership information (BOI) registry.

Fraud 221

Fraud Regulation Report Compliance 221

FICO

DECEMBER 20, 2022

5 Ways Digital Payments Will Change FIs and Fraud in 2023. As I look back on 2022, I’m reluctant to lean too far into predictions for 2023. But I’ll still weigh in with prognostications for 2023. New digital payments channels and methods will grow next year, giving new opportunities for fraudsters and scammers. FICO Admin.

Fraud 52

Fraud Payments South Carolina Compliance 52

CFPB Monitor

DECEMBER 9, 2021

The CFPB has issued a final rule amending Regulation Z to address the discontinuation of the London Inter-Bank Offered Rate (LIBOR) that is currently used by many creditors as the index for calculating the interest rate on credit cards and other variable-rate consumer credit products. Change in index. Dollar LIBOR indices. (The

Regulation 78

Regulation Cards Compliance Groups 78

Perficient

MARCH 3, 2022

Federal bank regulators work together to design Comprehensive Capital Analysis and Review (“CCAR”) stress tests that are designed to ensure that even in the case of a severe recession, significant banks can lend to households and businesses. As repeated by federal bank regulators, the required economic scenarios are not forecasts.

Capital 294

Capital Regulation Exercises United States 294

Abrigo

MAY 24, 2023

Download now Takeaway 1 Under current federal law, banks and credit unions face federal prosecution and penalties if they provide services to legal marijuana-related businesses. Takeaway 2 Considering the urgent need for a legislative solution, the SAFE Banking Act of 2023 could bridge the gap between state and federal marijuana laws.

Lending 195

Lending Fraud Operations Ohio 195

CFPB Monitor

JULY 21, 2022

On July 13, 2022, the House of Representatives (the “House”) adopted an amendment to the 2023 National Defense Authorization Act (“NDAA”) offered by Maxine Waters (D. in a manner that the Secretary determines appropriate to assess compliance” with the amendment.

United States 78

United States Taxes Regulation Compliance 78

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