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

CFPB Monitor

FEBRUARY 7, 2024

Several national and Texas banking and business trade groups have filed a lawsuit in the U.S.

Texas 78

Texas Community Groups FDIC 78

PYMNTS

AUGUST 14, 2019

The National Payments Corp. India’s digital payments market is expected to hit $1 trillion by 2023, according to a report by Credit Suisse Group AG. Once the regulator has gone through the report from the third-party auditor on data compliance, we will take further steps accordingly.”.

Compliance 100

Compliance National Payments Trends 100

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

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. FinCEN, however, does not actually conduct BSA/AML examinations of regulated businesses. It is unclear if Congress expects FinCEN to conduct these audits.

United States 78

United States Taxes Regulation Compliance 78

American Banker

MARCH 7, 2024

Net income at the nation's more than 4,000 banks dipped markedly in the final quarter of 2023, though for the full year it exceeded pre-pandemic averages. Deterioration in commercial real estate and credit card lending is a concern, FDIC Chairman Martin Gruenberg says.

FDIC 73

FDIC Report Lending National 73

Abrigo

JANUARY 30, 2024

Consistently rated a top industry event by attendees, ThinkBIG brought together 650 people from banks, credit unions, and partners in 2023. Attendees staying at the resort can take advantage of two world-class golf courses, tennis or pickleball, or escape to the Tierra Luna Spa, a Forbes 2023 four-star Spa Award Winner.

Conference 195

Conference Arizona Phoenix Fraud 195

American Banker

JULY 6, 2023

Long, founder and CEO of Custodia Bank, has pushed for digital-asset regulation in her home state of Wyoming. Now she's working on a national scale.

Wyoming 56

Wyoming Regulation National cryptocurrency 56

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

Abrigo

FEBRUARY 9, 2024

Treasury Secretary Janet Yellen said in  March 2023 that illicit actors  laundered at least $2.3 residential real estate sector but safeguarding our economic and national security.” Know the red flags for money laundering. The January 2023 alert to financial institutions, Potential U.S. billion through U.S.

Training 195

Training Fraud Trends Report 195

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. . There are forecasted to be over one billion mobile phone users in the country, and the digital payments market could have a value as high as $1 trillion by 2023.

Mobile 267

Mobile Compliance Payments National 267

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

Abrigo

JULY 12, 2021

Takeaway 1 Banks and credit unions moving to CECL in 2023 understandably want to know how Q factors will compare with current practices. is a popular topic among bankers, especially those with a 2023 CECL implementation date, according to Zach Englert, a CECL Consultant with Abrigo’s Advisory Services. Implementing CECL in 2023?

Analysis 195

Analysis Conference Management Regulation 195

PYMNTS

MAY 22, 2020

Treasury’s difficulties getting relief money to individuals, has renewed calls for the government to accelerate its FedNow national real-time payments network, still not expected to be operational until at least 2023. The Paycheck Protection Program (PPP) disbursement fiasco, coupled with the U.S.

Payments 344

Payments Policies Guidelines National 344

Abrigo

MARCH 3, 2023

On February 27, 2023, the Financial Crimes Enforcement Network (FinCEN) issued an alert to financial institutions on a nationwide surge in check fraud schemes targeting the U.S. As mentioned, fraud is one of the eight FinCEN National Priorities and should be included in your financial institution’s AML/CFT risk assessment.

Fraud 195

Fraud United States Trends Software 195

BankUnderground

JUNE 29, 2023

In March 2023, Silicon Valley Bank (SVB), the 16th largest US bank, was forced to close and declared bankruptcy after it was unable to stem a spike in deposit outflows and obtain new funding ( Weder di Mauro (2023) ). Each of these episodes also raised questions about the impact of the extensive post-2008 regulatory reforms.

Policies 83

Policies Regulation US Analysis 83

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

DECEMBER 9, 2019

It’s a national imperative,” said Hundt, leader of the agency from 1993 to 1997, on “ Squawk on the Street.” The regulators felt that the merger could adversely impact wireless competition, and ultimately harm consumers. population by June 2023. Building out 5G networks is imperative to the U.S., Treasury up to $2.2

US 130

US Mobile Regulation Meeting 130

PYMNTS

JANUARY 2, 2019

Since then, it has processed about one million transactions per month, according to people close to the National Payments Corporation of India (NPCI). Currently, there are more than 1 billion mobile phone users in the country, and the digital payments market is expected to reach $1 trillion by 2023.

Mobile 190

Mobile Payments System Google 190

PYMNTS

OCTOBER 9, 2019

9) from the Business Standard , and through Money Control , that there are compliance issues tied to data processing regulations that may keep the payment service from launching by the end of this year, as has been anticipated. In India, a delay for WhatsApp Pay? Reports came Wednesday (Oct.

Compliance 139

Compliance Regulation Data Payments 139

PYMNTS

OCTOBER 9, 2018

While WhatsApp began testing payments in the country earlier this year with around one million users, it has delayed its formal launch partly due to a need for clarity on the part of Indian regulators as to how the data is supposed to be stored. As the report noted, this comes as other companies have sought an extension of the Oct.

Data 140

Data Guidelines System Google 140

Abrigo

NOVEMBER 17, 2023

billion to fraud in 2022, a 44% increase over the prior year and a trend that has continued into 2023. As overseers tighten the leash with stringent regulations aimed at protecting consumers, the cost of compliance grows. According to the Federal Trade Commission (FTC), consumers lost $8.8 That equates to $35 billion annually.

Fraud 195

Fraud Training Trends Compliance 195

Independent Banker

FEBRUARY 28, 2023

Photo by Harold Daniels Derek Williams, president and CEO of Century Bank & Trust in Georgia, is bringing his passion for community banking to his term as ICBA chairman for 2023/24. So, he joined a training program at what was then Citizens & Southern National Bank, once the largest bank in the southeastern U.S.,

Community 172

Community Community Bank Georgia San Antonio 172

PYMNTS

DECEMBER 16, 2019

government affairs and public policy, said in a letter to the Fed that Google “worked closely” with the National Payments Corporation of India (NPCI) to build Google Pay for the Indian market. NPCI, the payment regulator governed by the Reserve Bank of India (RBI), launched real-time payments in 2016. billion in 2023 from $64.8

Google 144

Google System Payments Study 144

CFPB Monitor

NOVEMBER 28, 2022

trillion nationally) are on pace to surpass student loans as the second-largest debt category in 2023. Enhanced data and a deeper understanding of the auto finance market would certainly help inform other regulatory efforts, such as the FTC’s proposed Motor Vehicle Dealers Trade Regulation Rule.

Data 147

Data Marketing Lending Trends 147

Abrigo

DECEMBER 16, 2019

Key Takeaways An SEC filer with a 2020 CECL deadline recommends starting ASAP on implementation -- even if your deadline is 2023. Regulators, investors, and other stakeholders will be watching and listening for updates on the impacts of the accounting change. Assess data before selecting your methodology or methodologies. Get started.

West Virginia 195

West Virginia Virginia Data Community 195

PYMNTS

AUGUST 24, 2019

As new PYMNTS research documents, over the past year, 18 Major League Baseball (MLB), National Basketball Association (NBA), National Football League (NFL) and Major League Soccer (MLS) arenas have deployed biometric solutions by CLEAR. Mobile apps, too, are playing a bigger role in football and other major sports.

Payments 161

Payments social media Mobile Seattle 161

South State Correspondent

AUGUST 21, 2023

Earlier this month, on August 7, 2023, Moody’s Investor Services (“Moody’s”) published a banking sector review. Community bankers often lament the COF advantage at national banks – but the numbers do not support this view.

Community Bank 195

Community Bank Community Capital Analysis 195

PYMNTS

OCTOBER 16, 2019

Between $800 billion and $2 trillion USD is laundered each year, according to the United Nations Office on Drugs and Crime. A majority (57 percent) believe that more sharing of information between regulators and industry would be the change that would have the greatest impact on improving global AML efforts. Challenges and Solutions.

Compliance 123

Compliance Fraud Study Digital Banking 123

Abrigo

DECEMBER 18, 2023

Indeed, traditional bank CRE financing in September 2023 was labeled “scarce” by the Federal Advisory Council , which expected continued slowing in lending this year. Use portfolio risk management tools, which make it easier to continue supporting local and national economies prudently.

Risk Management 221

Risk Management Management Lending Capital 221

CFPB Monitor

NOVEMBER 3, 2022

Department of Education recently announced final regulations , effective July 1, 2023, designed to expand and improve the major student loan discharge programs authorized by the Higher Education Act. We commented on the Department’s proposed regulations when they were issued last summer.

Study 78

Study Regulation Policies United States 78

Abrigo

MARCH 4, 2022

billion by 2023, synthetic identity fraud impacts customers' experiences and creates costs tied to collections. man pleading guilty to multiple felonies, including money laundering, for his role in a national fraud ring that resulted in the theft of more than $1 million from financial institutions. billion by 2023. Learn More.

Fraud 195

Fraud Cards Software Trends 195

CFPB Monitor

DECEMBER 6, 2022

The delay means that the effective date of the new law is now December 10, 2023. Preemption challenges to the New York law by national and federal savings associations are unlikely to prevail. The New York law does not have a discriminatory effect on national banks compared to state chartered banks.

New York 78

New York Cards National Compliance 78

PYMNTS

SEPTEMBER 20, 2018

In China, eCommerce giant JD.com launched the nation’s first blockchain business license in collaboration with the Administration for Industry and Commerce of Suqian. The market is expected to secure 30 percent of those efforts between 2021 and 2023; at present, the U.S. in blockchain development efforts.

blockchain 188

blockchain Innovation Tools Survey 188

PYMNTS

MARCH 12, 2019

On Monday (March 11), reports in Reuters revealed three of the nation’s largest traditional banks — including RBS — are now collaborating on a new project aimed at linking small business customers to physical “hubs.” But there is another trend disrupting small business banking in the U.K.,

Metro 139

Metro Community Industry National 139

Abrigo

MARCH 24, 2023

Get ready for upcoming exams with this webinar, "AML/CFT hot topics for 2023: Are you prepared?" If the credit union has a history of OFAC violations, the OFAC risk should be classified as elevated and tightened with mitigating factors.

Fraud 195

Fraud Compliance Examples Analysis 195

PYMNTS

JANUARY 7, 2019

WhatsApp Pay began testing its service in that country earlier this year with reports of roughly one million users, processing roughly one million transactions per month, according to people close to the National Payments Corporation of India (NPCI). Warby Parker Sees Hack ers.

Data 139

Data Wyoming Idaho Utah 139