CFPB Monitor

JANUARY 16, 2024

In remarks to the press and public on January 2, 2024, New York Governor Kathy Hochul announced “a sweeping consumer protection and affordability agenda”, including proposed actions to “strengthen consumer protections against unfair business practices” and “establish nation-leading regulations for the Buy Now Pay Later loan industry”.

New York 156

New York National Regulation Examples 156

American Banker

MARCH 13, 2024

Bank M&A activity has been in the doldrums in recent years, but a number of CEOs are predicting an increase in bank consolidation in 2024.

Regulation 70

Regulation 70

The Paypers

OCTOBER 30, 2023

Turkey has revealed its plans to finalise cryptocurrency regulations in 2024 via the 2024 Turkish Presidential Annual Programme.

Regulation 41

Regulation cryptocurrency 41

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

CFPB Monitor

JANUARY 3, 2024

This New Year is setting up to be a momentous one for the consumer financial services industry in the United States Supreme Court.

Industry 97

Industry United States National Regulation 97

CFPB Monitor

OCTOBER 27, 2023

On October 13, 2023, the California Department of Financial Innovation (DFPI) published final regulations implementing the Student Loan Servicing Act (“SLSA”) and the Student Loans: Borrower Rights Law. The final regulations are the culmination of two sets of proposed regulations from the DFPI, which we previously covered here.

California 78

California Regulation Innovation 78

ABA Community Banking

DECEMBER 8, 2023

From the Basel III endgame to Regulation II to new Community Reinvestment Act and Section 1071, 2023 has delivered a regulatory onslaught for the industry. The post Podcast: The bank policy outlook for 2024 appeared first on ABA Banking Journal. How are bankers navigating the waves of overlapping changes?

Policies 59

Policies Community Regulation Industry 59

Perficient

JANUARY 23, 2024

This post has been updated to reflect FINRA Regulatory Notice 24-02, issued January 23, 2024. Additionally, these branches underwent annual on-site inspections to ensure compliance with regulations. What’s New? Additional benefits brought by this change are: Workplace flexibility promotes diversity and attracts stronger talent.

Compliance 221

Compliance Regulation Industry Maine 221

The Paypers

DECEMBER 1, 2023

The Australian government has announced a delay on its BNPL laws until 2024, due to resourcing pressures on the federal government’s legislative drafting teams.

Regulation 36

Regulation Resources 36

American Banker

DECEMBER 26, 2023

The crypto landscape is poised for significant developments in 2024, including a focus on tokenization, legislative uncertainties, a regulatory tug-of-war between the SEC and CFTC, and a potentially bullish year for Bitcoin.

Bitcoin 88

Bitcoin Policies cryptocurrency Compliance 88

CFPB Monitor

JANUARY 19, 2024

In furtherance of the Biden Administration’s “junk fee” agenda, on January 17, 2024, the Consumer Financial Protection Bureau issued its proposed rule to amend Regulations E and Z to regulate overdraft services provided by “very large financial institutions” (an insured depository institution or an insured credit union that has total assets of more (..)

Regulation 88

Regulation 88

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

DECEMBER 1, 2023

Despite this proactive approach, federal banking regulators either neglected to review the same documents or did so without taking necessary action before the bank failed. Commencing with the first quarterly assessment period of 2024 (i.e., Contact us today to navigate the evolving landscape of risk and regulation successfully.

FDIC 221

FDIC Risk Management Regulation Leadership 221

Abrigo

JANUARY 3, 2024

1, 2024, many companies must begin reporting information about who ultimately owns or controls them to a federal beneficial ownership registry. 1, 2024, many companies are required to begin reporting to the U.S. 1, 2024, have one year (i.e., This is in line with the current CDD regulations. Effective Jan.

Fraud 221

Fraud Regulation Report Compliance 221

CFPB Monitor

JANUARY 19, 2024

In furtherance of the Biden Administration’s “junk fee” agenda, on January 17, 2024, the Consumer Financial Protection Bureau issued its proposed rule to amend Regulations E and Z to regulate overdraft services provided by “very large financial institutions” (an insured depository institution or an insured credit union that has total assets of more (..)

Regulation 78

Regulation 78

The Financial Brand

JANUARY 11, 2024

This article Trends 2024: Consumers Will Drive Open Banking, Not Regulators appeared first on The Financial Brand. This article Trends 2024: Consumers Will Drive Open Banking, Not Regulators appeared first on The Financial Brand. Marketplace forces are finally pushing the U.S. toward open banking. Why that's good news.

Trends 24

Trends Regulation Branding Banking Trends 24

American Banker

DECEMBER 27, 2023

The Consumer Financial Protection Bureau will take a bite out of bank profits in 2024 by issuing final rules on overdraft and credit card late fees, among other major rulemakings.

Cards 73

Cards Policies Compliance Regulation 73

Gonzobanker

FEBRUARY 1, 2024

For the bankers we talked with, acknowledging challenges—think NIM, credit, regulation, election uncertainty, unemployment and CRE—while portraying resilience created quite a few compelling narratives throughout the event. Well, we’re in 2024 and let’s talk about that “promising outlook” that seems to be building toward Q3.

Conference 88

Conference FDIC Arizona Industry 88

American Banker

OCTOBER 20, 2023

Regulators will now accept feedback until Jan 16, 2024 — a six-week extension — concurrent with a Federal Reserve effort to gather additional information about the potential implications of the proposed capital changes.

Regulation 65

Regulation Capital Policies Compliance 65

CFPB Monitor

JANUARY 25, 2024

After promising earlier this year to “establish nation-leading regulations for the Buy Now Pay Later loan industry,” New York Governor Kathy Hochul took a significant first step in that direction by including Buy Now Pay Later (“BNPL”) legislation in her Proposed 2024-2025 Transportation, Economic Development and Environmental Conservation (“TED”) (..)

New York 139

New York National Regulation Industry 139

CFPB Monitor

JANUARY 30, 2024

House Bill 254 (HB 254), introduced on January 10, 2024 in the Maryland House of Delegates, would add Subtitle 15 – the “True Lender Act” – to Title 12 (Credit Regulations) of the Maryland Commercial Law. Continue Reading

Maryland 148

Maryland Regulation 148

CFPB Monitor

MARCH 12, 2024

On March 5, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued its final credit card late fee rule (the “Final Rule”).

Cards 88

Cards Regulation 88

American Banker

DECEMBER 25, 2023

Federal regulators will look to finalize capital rules for banks with at least $100 billion of assets. Here's what to look for as the contentious regulations move through the rulemaking process.

Regulation 100

Regulation Capital Policies Compliance 100

American Banker

FEBRUARY 13, 2024

With dominant industry personalities suddenly swept offstage, the evolving rules and regulations that will dictate the industry's future will be in the spotlight.

cryptocurrency 94

cryptocurrency Regulation Industry Bitcoin 94

CFPB Monitor

JANUARY 29, 2024

The due date for comments on this proposal, originally February 12, 2024, has been extended to May 12, 2024. In October 2023, the Federal Reserve Board issued a proposal to lower the maximum interchange fee that a large debit card issuer can receive for a debit card transaction.

Cards 78

Cards Regulation 78

American Banker

DECEMBER 29, 2023

Location and regulation will also play a big role in what the market looks like in the next year. Projects are underway at a number of payment firms including PayPal, Circle and Ripple.

Innovation 85

Innovation Regulation Marketing Payments 85

American Banker

FEBRUARY 15, 2024

The Federal Reserve Board's 2024 stress test scenario posits severe market volatility, widening corporate bond spreads and significant declines in asset prices. The scenario comes alongside new exploratory analyses probing additional risks for the first time.

Marketing 36

Marketing Compliance Regulation 36

American Banker

DECEMBER 28, 2023

While much of the attention in next year's election is on the top of the ticket, there are several other important races in 2024 that banks need to keep on their radar.

Policies 41

Policies Compliance Regulation 41

CFPB Monitor

FEBRUARY 12, 2024

On February 2, 2024, three Republican members of the House Financial Services Committee sent a letter to Federal Deposit Insurance Corporation (“FDIC”) Chair Martin Gruenberg expressing concern regarding what the congressmen perceive to be the FDIC’s attempts to reduce engagement with industry participants on financial technology and innovation.

Innovation 78

Innovation FDIC Regulation Financial Technology 78

CFPB Monitor

JANUARY 24, 2024

The Board of Governors of the Federal Reserve (the “Board”) has announced that it is extending the comment period for its proposed changes to its debit card interchange fee rule until May 12, 2024. Comments were originally due on February 12, 2024. On October 25, 2023, the Board issued a Notice of Proposed Rulemaking for Regulation II.

Cards 78

Cards Regulation 78

CFPB Monitor

FEBRUARY 12, 2024

The final rule became effective in 2020, and the Memorandum requires licensees to comply by March 31, 2024. Continue Reading

South Dakota 78

South Dakota Compliance Regulation 78

American Banker

MARCH 20, 2024

How the FDIC, the Federal Reserve and other regulators are working to keep banks in compliance through 2024.

FDIC 83

FDIC Compliance Regulation Risk Management 83

American Banker

DECEMBER 21, 2023

CEOs, regulators, advocates, lawmakers: who will have the biggest impact on the banking industry this year?

Regulation 85

Regulation Industry Policies Compliance 85

PYMNTS

AUGUST 6, 2020

billion by 2024, indicating the corporate world’s record-high demand for instant payments. Corporates crave fast payments from banks, but financial institution (FI) payments are often hamstrung by regulations and cross-border frictions that FinTechs do not face. Developments From Around The World Of Payments Modernization.

Regulation 245

Regulation Payments Innovation Fintech 245

American Banker

FEBRUARY 14, 2024

New regulations involving cryptocurrency and the results of key elections will impact the industry's success this year.

cryptocurrency 83

cryptocurrency Regulation Industry Cyber Security 83

Perficient

DECEMBER 21, 2023

Regulators to Bank Boards: “Debt is Good” Crucial Update: Extension of the Comment Period Since Perficient’s Risk and Regulatory Compliance Center of Excellence (CoE) analyzed this decision in September, a significant development has occurred. .” Learn More: U.S.

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DC FDIC Washington Compliance 221

CFPB Monitor

JANUARY 16, 2024

Supreme Court has scheduled oral argument for Tuesday, February 20, 2024 in Corner Post, Inc. v Board of Governors of the Federal Reserve System.

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Regulation System 78