Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Early communication with your regulator is key to understanding the struggles and successes of managing a BSA/AML program during a global pandemic. 5 Things Regulators Will Look For In Your Next Exam. SBA Lending.

Regulation 195

Regulation Fraud Compliance Lending 195

PYMNTS

MAY 25, 2018

We have a lot of predatory lending out here, which we want to regulate,” Geoffrey Mwau, director general of budget, fiscal and economic affairs at the country’s treasury, said on Thursday (May 24). Suri told the paper the kiosks act as debit cards.

Regulation 101

Regulation Lending Mobile Course 101

PYMNTS

JANUARY 27, 2021

Although commercial cards are evolving to gain traction in more B2B payment scenarios — particularly, accounts payable (AP) — new challenges emerge that can slow down the rate of adoption. Billtrust, REPAY Drive Virtual Card Adoption. Tat Capital Debuts Value-Add For Corporate Cards.

Cards 237

Cards Capital Security Compliance 237

PYMNTS

MARCH 7, 2019

Merchants and customers are now transacting under PSD2 and GDPR in the European Union (EU) — regulations that allow a greater window into how customer data is being used. While these regulations are aimed at increasing consumer trust by allowing them more transparency, many consumers in the region are still adjusting.

Lending 198

Lending Regulation Regional Data 198

PYMNTS

DECEMBER 4, 2019

Federal banking regulators support using alternative methods to assess creditworthiness to help high-risk people get loans, The Wall Street Journal (WSJ) reported on Tuesday (Dec. The regulators added that agencies choosing to tap into alternative data should do so judiciously.

Regulation 136

Regulation social media Study Data 136

Independent Banker

JUNE 30, 2022

As we kick off this year’s lending issue, I want to pause for a moment to reflect on just how much lending has changed. Remember, not that long ago, when a loan card was handwritten on a one-page form? You would just rip off the top sheet, fill out the terms and provide a description of the collateral.

Lending 141

Lending Idaho Nevada Oregon 141

American Banker

MAY 29, 2024

The Swedish financial institution argues over potential regulations that treat buy now/pay later lending like credit cards in the U.S.; Discover seeks the next hot market for real-time payments; and more.

Lending 76

Lending Regulation Cards Marketing 76

PYMNTS

SEPTEMBER 5, 2016

Changes to commercial card regulations could be tripping up small businesses in Australia, according to reports on Friday (Sept. Paying with a commercial card means up to 55 days interest-free (an offer from the cards’ issuing banks). An interchange fee cap means less profits for the banks. would impact the market.

Regulation 100

Regulation Cards Report Lending 100

American Banker

APRIL 24, 2024

The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.

Cards 97

Cards Regulation Branding Compliance 97

CFPB Monitor

DECEMBER 13, 2021

The report discusses the Bureau’s examinations in the areas of credit card account management, debt collection, deposits, fair lending, mortgage servicing, payday lending, prepaid accounts, and remittances that were completed between January 2021 and June 2021. Credit card management. Fair lending.

Lending 78

Lending Cards Regulation Payments 78

PYMNTS

JULY 2, 2020

With the pandemic nudging businesses further into the digital payments realm, commercial card innovation is heating up to capitalize on the opportunity for adoption. Boost Bolsters BMO Harris Bank’s Biz Cards. Global Cash Card’s Legal Saga Ends. ADP Eyes Payroll Card Adoption Jump.

Cards 208

Cards New York Capital Compliance 208

CFPB Monitor

FEBRUARY 2, 2023

We suspected something was afoot when December 2022 came and went without the CFPB announcing its annual inflation adjustments to the credit card late fee safe harbor amounts set forth in Regulation Z (which implements the Truth in Lending Act).

Cards 78

Cards Regulation Lending 78

PYMNTS

JULY 29, 2019

A company called Glint Pay has launched a debit card that’s backed by gold instead of currency, according to a report in The Denver Post. The card was released in the U.S. The debit card was introduced early in 2018 in Europe. Users are then given a debit card, licensed by Mastercard USA. office is in Boulder, Colorado.

Cards 191

Cards Colorado Denver Fintech 191

PYMNTS

JULY 22, 2016

It feels like 2014 again with the ongoing popularity of alternative lending startups. It’s even more surprising given that 2016 could be the year that regulation begins to really kick in for these lenders — in the U.S., Alternative Lending. Find out how the more than $26.5 MarketInvoice. Redis Labs.

Lending 100

Lending Regulation Big Data Risk Management 100

PYMNTS

OCTOBER 9, 2018

About a year ago, the CFPB, which now goes by the BCFP, dropped the final version of its payday lending regulations. Lenders actually prefer customers who will re-borrow repeatedly,” then-CFPB Executive Director Richard Cordray said after releasing the new regulations last year. Payday loan revenues have plummeted from $9.2

Lending 140

Lending Regulation Groups Report 140

PYMNTS

JANUARY 22, 2020

Commercial cards remain only a fraction of the B2B payments space, but FinTech firms, banks and other financial service providers continue to develop new solutions aimed at boosting adoption. For companies like SmartEquip and Unified Payments Group , that means introducing new ways to lift the burden of suppliers accepting cards.

Cards 131

Cards New York Lending Strategy 131

PYMNTS

MAY 16, 2017

The Consumer Financial Protection Bureau’s (CFPB) rulemaking authority survived its first big challenge from the now Republican-dominated houses of Congress when an effort to use the Congressional Review Act (CRA) to repeal new rules for the prepaid card industry passed by the consumer watchdog in the waning days of the Obama administration.

Lending 101

Lending Cards Regulation Georgia 101

PYMNTS

JANUARY 31, 2020

30) against Citizens Bank over alleged violations of the Truth In Lending Act (TILA). The CFPB said that Citizens Bank neglected to follow the rules for years by failing to properly manage credit card disputes. The Consumer Financial Protection Bureau (CFPB) filed a lawsuit on Thursday (Jan. It filed the complaint in the U.S.

Rhode Island 116

Rhode Island Lending Cards New York 116

PYMNTS

MAY 31, 2019

The 2008 financial crisis gave rise to the alternative lending market as a result of a massive gap in available capital, especially for small businesses and startups. It encouraged banks to develop their own digital lending solutions and collaborate with their one-time rivals to step up the borrowing experience for SMBs.

Lending 130

Lending Regulation Capital Industry 130

PYMNTS

AUGUST 9, 2019

With its new credit card in conjunction with Apple, Goldman Sachs is reportedly approving some borrowers who are subprime for the offering. The bank is accepting applications for the Apple Card from some users who have credit scores that are not stellar, CNBC noted in a report that cited unnamed sources.

Apple 156

Apple Cards User Experience Report 156

PYMNTS

OCTOBER 17, 2018

Short-term lending – specifically, payday loans – have attracted a lot of attention in recent years, from the media and from the regulators. The main difference between the two forms of non-bank subprime cash lending – as their names imply – is the time a customer is given to pay a loan. population. Pew’s Recommended Changes.

Regulation 152

Regulation Lending United States Data 152

PYMNTS

DECEMBER 9, 2019

In today’s top news in payments, Goldman plans to launch a robo advisor for clients with lower investment capital than traditional customers, and Apple plans to offer 0 percent installment financing on iPhones bought with the Apple Card. Apple Updates Wallet App to Reflect iPhone Financing for Apple Card Users.

Regulation 131

Regulation Data Apple Payments 131

PYMNTS

JANUARY 17, 2020

Sezzle , the California-based alternative payments lender, announced Thursday that it was finally approved by the state’s Department of Business Oversight ( DBO ) for a lending license. The DBO’s approval means that Sezzle can now continue to operate seamlessly in the state and continue to act as the leading U.S.-based

California 130

California Lending Trends Payments 130

PYMNTS

AUGUST 6, 2018

China has ordered a lockdown of Beijing’s financial district Monday (August 6) to prevent individuals from protesting a crisis in the peer-to-peer (P2P) lending marketplace. Police were checking identity cards of anyone entering the area to prevent organized demonstrations by groups of investors that lost money as P2P lenders went under.

Lending 116

Lending Fraud Training Security 116

PYMNTS

SEPTEMBER 4, 2019

Short-term lending has something of a bad rap in the United States — consumer advocacy groups have long accused them of being predatory debt traps, and both state and federal regulators have spent the last decade writing and rewriting regulations aimed at curtailing what they characterize as the short-term lending industry’s excesses.

Lending 130

Lending United States Industry Regulation 130

Abrigo

MAY 30, 2023

Final rule Effective dates & compliance dates for rule 1071 As they do with any new requirement, financial institutions want to know when the CFPB 1071 rule is effective and when they must begin collecting and reporting data on their small business lending activities. Which lenders are counted as “covered financial institutions”?

Compliance 195

Compliance Lending Data Regulation 195

Abrigo

DECEMBER 16, 2014

Lending standards continue to relax, according to data from the OCC’s 2014 Survey of Credit Underwriting Practices. This type of easing is similar to that experienced between 2004 and 2006, the time period leading up to the financial crisis, which many attribute to inadequate lending standards.

Lending 223

Lending Survey Training Retail 223

PYMNTS

APRIL 26, 2018

Chinese officials have reportedly taken measures to monitor and potentially crack down on the nation’s banks’ risky lending practices, reports in Reuters said Wednesday (April 25). Officials will stay at those branches and monitor how loans are assessed, reports noted.

Lending 122

Lending New York Regulation Report 122

BankBazaar

AUGUST 12, 2021

The lending industry has evolved with time, and now thanks to BNPL plans, the world has more options to pay for its needs than ever before. In India alone, there are more than 75 million consumers who shop actively on the internet without a Credit Card. Additional Reading: Should You Get A Credit Card When You Start A Job?

Lending 78

Lending Cards Online Industry 78

American Banker

MAY 22, 2024

The Consumer Financial Protection Bureau issued a new interpretive rule designating buy now/pay later lenders as credit card providers, subjecting those services to consumer protections like the right to dispute charges and receive refunds.

Cards 89

Cards Policies Compliance Lending 89

PYMNTS

NOVEMBER 14, 2017

Online consumer lending – in a variety of forms – has grown explosively over the last decade. Its team of economists takes a rather dim view of the online lending space and the ways in which it recruits and handles its customers – and believes that additional regulation is needed to rein in some of the excesses their research uncovered.

Study 101

Study Lending Cleveland Online 101

PYMNTS

AUGUST 1, 2017

With home loan growth expected to slow to 4 percent in 2018, National Australia Bank (NAB) wants to build its business elsewhere, namely in SME lending. A report in The Australian on Monday (July 31) revealed news that the NAB is adding new features to its small business (SMB) lending unit, QuickBiz, in an effort to build market share.

National 100

National Lending Capital Regulation 100

Abrigo

FEBRUARY 14, 2023

Takeaway 2 The rule is aimed at tracking small business credits to enforce fair lending laws and ID and support women- and minority-owned small businesses. The regulation, expected to be finalized in weeks, outranked BSA/AML rules, beneficial ownership requirements, and current expected credit loss (CECL) obligations.

Data 195

Data Lending Compliance Resources 195

PYMNTS

FEBRUARY 5, 2018

Last month, Canada’s Competition Bureau released its final study on tech-led innovation in FinTech, offering regulators some thoughts on competition in the payments sphere, along with suggestions on where the competitive landscape could be improved. If Starbucks goes under, the individual has lost the $20 they have put on the card.

Regulation 103

Regulation Bitcoin Innovation Study 103

PYMNTS

DECEMBER 10, 2019

In an interview with Karen Webster, Mike Cagney, CEO and co-founder of Figure Technologies , said that the lending arena has seen markedly improved processes for borrowers and creditors. The lending process takes place over the company’s own blockchain, known as Provenance. A Case Of Blockchain Fatigue. trillion, $6.3

blockchain 135

blockchain Lending Technology Data 135

PYMNTS

JANUARY 16, 2017

The alternative lending space has journeyed through growth and struggled with challenges, especially in the last year. That iceberg is the potential market share that alternative SME lenders stand to grab, if they play their cards right (and if market conditions support that expansion). billion of that share, the report found.

Regulation 100

Regulation Lending Industry Management 100

PYMNTS

SEPTEMBER 18, 2017

The credit bureaus were included in the CFPB’s scope of oversight in 2012, and she’s asked the agency to let her know what additional power it might need to better regulate the credit reporting agencies going forward. We don’t need more regulation. Senator Elizabeth Warren (D – Mass.) What we need is competition.

Report 202

Report Regulation Data Retail 202