PYMNTS

AUGUST 6, 2020

In July, the Prudential Regulation Authority (PRA), the BoE division that supervises large banks, warned that some new lenders had underestimated the cost required to become an established bank, and called for improved planning, stronger governance and clearer paths to profitability.

Capital 196

Capital Regulation New York Digital Banking 196

TheGuardian

NOVEMBER 30, 2022

A new report by the Australian Prudential Regulation Authority (Apra) found climate change could make banks more vulnerable to economic downturns as they face up to a threefold increase in lending losses by 2050, but that the system should be able to absorb the impact.

Lending 81

Lending Regulation Regional Industry 81

PYMNTS

FEBRUARY 3, 2020

Oxbury, based in Chester, is going to offer specific products for British farmers, as well as savings accounts for the general public and businesses. The bank secured its license from the Bank of England’s Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). .

Security 198

Security Lending Community Regulation 198

PYMNTS

DECEMBER 15, 2019

The latest data shows regulators have ordered 51 “skilled persons’ reports” in the 2018-19 financial year, a 16 percent increase over last year. Usually initiated by law or accountancy firms, the reports are ordered when the Financial Conduct Authority (FCA) or the Bank of England (BoE) are worried about some aspect of business.

Regulation 130

Regulation Report Policies Fraud 130

PYMNTS

FEBRUARY 26, 2020

The issue is being investigated by both the Financial Conduct Authority (FCA) and the Prudential Regulation Authority. The bank’s lending business will focus on products that bring in more revenue, like specialist mortgages and unsecured consumer loans. Frumkin said on Wednesday (Feb.

Metro 187

Metro Report Lending Regulation 187

PYMNTS

SEPTEMBER 11, 2019

Treezor is an electronic money issuer and is tied to a regulatory landscape that spans the French regulators and the European Union’s General Data Protection Regulation. Separately, B2B payments and international money transfer firm B2B Pay said this past week that it plans to become a regulated financial institution.

Digital Banking 177

Digital Banking Regulation Payments cryptocurrency 177

PYMNTS

JANUARY 11, 2021

Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). 10) that it had been hacked – and that sensitive individual and business information may have been involved. Neobank Revolut Applies for UK Financial Services License . customers expect from their everyday primary bank account.”.

ATM 145

ATM Capital Digital Banking National 145

PYMNTS

OCTOBER 1, 2018

The bank is required to dole out the funds as concessions for keeping its subsidiary Williams & Glyn; regulators want those funds to be used by competitors to promote bank switching and industry competition. Regulators have allocated 10 percent of the funds for FinTech firms, but according to Tide, that’s not enough.

Fintech 161

Fintech Regulation Report Groups 161

TheGuardian

MARCH 28, 2023

if your business fails, do you then get a bonus?' she asked Andrew Bailey, the Bank of England governor, Sam Woods, the chief executive of the Prudential Regulation Authority, and Dave Ramsden, the deputy governor for markets and banking at the Bank. In what other sector.

Video 48

Video Regulation Marketing Company 48

PYMNTS

JANUARY 4, 2017

FinTech firms operating in Indonesia and running peer-to-peer lending businesses may face new regulations from the Indonesian Financial Services Authority (OJK). What’s important is they get onto our radar because we don’t want to regulate the prudential aspects hastily. Muliaman D.

Regulation 128

Regulation Fintech Guidelines Capital 128

PYMNTS

FEBRUARY 3, 2020

Oxbury, based in Chester, is going to offer specific products for British farmers, as well as savings accounts for the general public and businesses. The bank secured its license from the Bank of England’s Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). .

Security 130

Security Lending Community Regulation 130

Chris Skinner

MARCH 10, 2017

The Prudential Regulatory Authority (PRA) has had guidelines in place for a while around using third party processors for critical functionality, like making payments. However, the reason for sharing this here is not to have a dig at Monzo – we like those guys – but to raise an issue I had not thought of before.

Regulation 219

Regulation Exercises Guidelines Data 219

PYMNTS

SEPTEMBER 10, 2019

9) said Allica has secured its banking license by the Prudential Regulation Authority (PRA), allowing the company to launch banking operations under regulation of the PRA as well as the Financial Conduct Authority (FCA). “We built Allica specifically for businesses to realize their aspirations to advance. .

Regulation 100

Regulation Tools Capital Management 100

PYMNTS

AUGUST 18, 2017

Chinese regulators say they have made progress in efforts to curb the nation’s shadow banking sector, according to reports in the New York Times o n Friday (Aug. Xiao’s update on the matter follows the CBRC’s decision to extend by two months a deadline for China’s banks to submit their risk assessments, according to Reuters.

Regulation 100

Regulation Policies New York Lending 100

PYMNTS

APRIL 9, 2018

A press release on Friday (April 6) issued by the FinTech, which targets small and medium-sized businesses (SMBs), said it will release the license awarded last May and reapply for another one after further technological development of its solution.

Maine 134

Maine Survey Technology Capital 134

PYMNTS

APRIL 9, 2019

The All-Party Parliamentary Group (APPG) on Fair Business Banking is calling for a new investigation into Lloyds and how much its executives knew about the ongoing mistreatment of small business customers by its HBOS unit. Reports in City A.M. Reports in City A.M.

Fraud 122

Fraud Groups Report Regulation 122

PYMNTS

OCTOBER 15, 2018

Financial Conduct Authority (FCA) and the Prudential Regulation Authority, as well as shareholders’ votes in favor of the deal. The new Virgin Money will also focus on strengthening its small business services. on Monday (Oct. The final approval followed clearance from the U.K.

Exercises 166

Exercises Branding Customer Experience Course 166

PYMNTS

NOVEMBER 7, 2019

The shortcomings were pointed out by Prudential Regulation Authority regulators. businesses, which had the greatest losses. Returns are very, very weak across both of those businesses,” he said. “We HSBC said it is planning to get executives together to work on the problem. We need to get those returns up.

Compliance 101

Compliance Fraud Taxes Regulation 101

PYMNTS

NOVEMBER 22, 2017

According to reports in Singapore Business Review , $2.71 The Monetary Authority of Singapore (MAS) announced this week that its global trade connectivity network (GTCN) initiative, a joint project to streamline cross-border trade between the two nations, will debut in early 2019. The Singapore-Hong Kong Initiative.

blockchain 134

blockchain Fintech Innovation Report 134

PYMNTS

SEPTEMBER 11, 2019

In Singapore late last week, the monetary authority has said it will accept applications for five new licenses through the end of the year – writ large, the authority has pointed toward a “banking liberalization journey.”. The company said in July that it is letting SMBs try its small business bank account solution for free.

Digital Banking 160

Digital Banking Millennials Mobile Regulation 160

PYMNTS

DECEMBER 26, 2018

and the Financial Conduct Authority (FCA) are cracking down on payday lenders and rent-to-own businesses that they say take advantage of vulnerable customers. The numbers highlight the worst year for the industry, which is fighting with rising regulatory and tech costs, since 2010.

Regulation 134

Regulation Capital Lending Policies 134

PYMNTS

SEPTEMBER 17, 2019

In February, the Bank of England’s Prudential Regulation Authority said it had discovered accounting inconsistencies at Metro Bank more than a year earlier, leading some shareholders and industry experts to call for resignations of top Metro Bank executives. s small business banking sector.

Metro 100

Metro Lending Fraud Capital 100

PYMNTS

MAY 13, 2019

The announcement comes after Judo Bank recently received its full banking license from the Australian Prudential Regulation Authority (APRA), with Temenos able to assist via its Australian Model Bank approach. “We We worked closely with Judo Bank’s agile and passionate team to go live in record time.

Software 123

Software US Analytics Compliance 123

CFPB Monitor

MAY 4, 2021

The lawsuit represents CSBS’s third challenge to the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies. Unlike the first two complaints, the relief sought by CSBS in its third complaint is not limited to restricting the OCC’s authority to issue bank charters.

Technology 78

Technology National Regulation FDIC 78

PYMNTS

MARCH 27, 2019

While regulators had transparency and financial security in mind when introducing more stringent requirements for banks following the global financial crisis, financial institutions faced a sudden surge in the burden compliance. But according to Verboven, authorities’ heightened scrutiny on the global financial services space will persist.

Compliance 116

Compliance Data Regulation Analytics 116

PYMNTS

OCTOBER 19, 2016

A small business lender is looking to bring new competition into the U.K.’s 18) said Amicus Finance, an alternative SME lender, has applied for a banking license from the Prudential Regulation Authority and the Financial Conduct Authority. ’s banking sector. Reports Tuesday (Oct.

Lending 100

Lending Resources National Report 100

BankUnderground

DECEMBER 9, 2020

The episode captured the public imagination , and helped lead to the creation of a new regulator in the UK. Firstly, Baring’s collapse reminds supervisors to be wary of complex, new and incredibly profitable businesses, especially when conducted far from head office. Poor controls at the regulator played their part, too.

Risk Management 129

Risk Management Management Regulation Policies 129

CFPB Monitor

JANUARY 12, 2021

The Taskforce was charged with examining the existing legal and regulatory environment for consumers and financial services providers and making recommendations to the Bureau’s leadership for improving consumer financial laws and regulations. The report consists of two volumes. Equal access to credit.

Report 78

Report Regulation Policies Compliance 78

CFPB Monitor

JUNE 20, 2022

As described by Director Chopra in remarks about the RFI , “relationship banking is a model used to serve families, businesses, and communities as individuals, with an emphasis on providing customized help, rather than assembly-line style service.”

Policies 148

Policies Tools Survey Data 148

PYMNTS

JULY 29, 2016

The outlet said insurance firms, like MetLife and American International, are branching out into an array of lending practices, including small business lending. “There’s no question that insurance companies are looking to diversify into new areas and innovate as much as possible,” said Adam Hamm, who serves on the U.S.

North Dakota 100

North Dakota Lending Regulation Industry 100

Bank Activities

JULY 5, 2022

The Aussie neobank Volt announced that it would close its deposit-taking business operations due to its failure to raise sufficient levels of capital during the pandemic. The Australian Prudential Regulation Authority (APRA) is monitoring the closure of Volt and the process of returning deposits to its customers.

Operations 36

Operations Regulation Lending National 36

CFPB Monitor

JULY 29, 2020

In May 2019, the district court denied the OCC’s motion to dismiss and found that the term “business of banking” as used in the National Bank Act (NBA) “unambiguously requires receiving deposits as an aspect of the business.” Nondepository institutions are not engaged in the “business of banking” within the meaning of the NBA.

Fintech 88

Fintech New York Regulation National 88

PYMNTS

MARCH 25, 2019

Beyond the CFPB, and at the state level in Illinois, a state Senate committee last week voted to approve legislation that would keep state banking regulators from punishing financial institutions, including banks and credit unions, for doing business with medical marijuana enterprises.

Lending 128

Lending Illinois Compliance Chicago 128

NCR

AUGUST 17, 2017

In light of the escalating size and importance of the market, one prospect businesses need to be aware of is tighter regulation. This is a very real possibility in the EU, with the European Banking Authority (EBA) recently publishing a discussion paper outlining its approach to fintech. billion a year earlier.

Regulation 51

Regulation Fintech Exercises Capital 51

CFPB Monitor

NOVEMBER 22, 2021

These represent the first remarks by these regulators following the DOJ’s announcement of its major new “ Combatting Redlining Initiative ” on October 22, 2021, and it was the topic of each of their presentations. She noted that the agency will work with the CFPB, HUD, prudential regulators, and U.S. Small business lending.

Conference 78

Conference Lending Industry Regulation 78

FICO

MAY 24, 2022

You might be in the risk part of the business or collections. That commitment that they're making, on behalf of your business, is a key part of what's driving the energy behind environmental commitments around the world. The Monetary Authority of Singapore (MAS) has a Green Finance Action Plan. So how does this connect with you?

Analytics 52

Analytics Management Regional Policies 52

BankUnderground

FEBRUARY 24, 2022

Diversity has risen up the agendas of businesses, regulators, and governments in recent years. We build a data set of the identity characteristics of senior managers for gender, age and nationality diversity in all PRA-regulated banks over the last two decades (total of 181). Joel Suss, Marilena Angeli and Peter Eckley.

Trends 65

Trends Regulation Data Policies 65