PYMNTS

NOVEMBER 9, 2020

Regulation. EU Gears Up To Propose New Big Tech Regulations. The European Commission has rolled out high-profile probes into firms such as Google, Apple, Facebook and Amazon over worries that their market supremacy is negatively impacting competition. Australian Regulator Looks Into Merger Law Changes.

Regulation 211

Regulation social media Compliance California 211

PYMNTS

NOVEMBER 6, 2020

has sought a national bank charter from the Office of the Controller of the Currency (OCC), which will let it meet “promises of efficiency, affordability and financial inclusion,” according to a Friday (Nov. Financial services firm Figure Technologies, Inc. 6) announcement.

National 163

National blockchain Lending Regulation 163

PYMNTS

SEPTEMBER 24, 2020

These types of payment flows made up 5 percent or more of the gross domestic product (GDP) for 66 countries in 2019, reaching as high as 20 percent of GDP in nations like Haiti and Nepal. . Maintaining compliance with these important regulations can be challenging, but FIs cannot afford to slip up. The Cost of Compliance .

Compliance 223

Compliance Tools Fraud Regulation 223

PYMNTS

NOVEMBER 23, 2020

Here’s the latest news from the technology industry, which is coming under increasing scrutiny from regulators around the world. EU Auditors: European Commission Needs To ‘Scale Up’ Regulation. But it now needs to scale up market oversight to be fit for a more global and digital world.”. “We California will get $24.6

Apple 193

Apple Regulation social media Compliance 193

PYMNTS

NOVEMBER 23, 2020

Figure Pay, he said, with the ability to scan QR codes at checkout, is predicated on the concept of using a blockchain payment rail in lieu of interchange as the network is built out — and across a swath of merchants as large as Walmart and small as localized farmers’ markets (in a type of “barbell” approach) upon initial launch early next year.

National 215

National blockchain Montana Lending 215

Perficient

APRIL 2, 2021

The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the. Office of the Comptroller of the Currency (OCC). Credit Decisions. Textual analysis.

Regulation 309

Regulation Industry Risk Management Analysis 309

PYMNTS

JANUARY 25, 2018

More than half of companies surveyed by SWIFT and Dow Jones Risk & Compliance last year said they plan to invest in RegTech in the coming years, and most agree that technology has enabled a greater ability to remain compliant with key regulations surrounding anti-money laundering , Know Your Customer and more. In the U.S.,

Compliance 148

Compliance Regulation Resources Survey 148

PYMNTS

SEPTEMBER 13, 2019

To enable continued innovation and growth in the digital economy, the Business Roundtable is asking Congress to pass a comprehensive consumer data privacy law that establishes a national privacy framework and strengthens protections for consumers. fines) would be for non-compliance. companies. This would help the management of U.S.

National 129

National Compliance Data Regulation 129

PYMNTS

JULY 24, 2020

The July Payments Powering the Platform Economy Report examines how international eCommerce platforms work to create transaction experiences that are compelling and secure for users in each market they serve. How Global Freelancing Marketplaces Can Maintai n Security And Regulatory Compliance. Around The eCommerce Payments W orld.

Compliance 152

Compliance Report Payments Security 152

Abrigo

JUNE 12, 2023

You might also like this webinar, " AML Compliance and Sanctions Requirements for Non-Bank Financial Institutions. Streamlined compliance : Compliance with varying state regulations significantly burdens money transmitters. Compliance and reporting : Mandate implementing robust AML and CTF programs by money transmitters.

Compliance 195

Compliance Fraud Regulation Guidelines 195

PYMNTS

JULY 2, 2019

When reports last week in the Financial Times ( FT ) highlighted the thousands of offshore bank accounts frozen by Lloyds Banking Group , the news thrust the issue of anti-money laundering (AML) into the global spotlight, once again, as banks ramp up efforts to comply with more stringent regulations.

Compliance 115

Compliance Regulation Data Analysis 115

PYMNTS

JULY 1, 2019

When it comes to the new and emerging legal cannabis industry – along with the closely related trade in CBD products – payments and compliance issues, as one can imagine, have tremendous importance, and companies are striving to get into the game via those angles. The market could reach $16 billion by the year 2025, per a Cowen & Co.

Compliance 167

Compliance Industry Payments Policies 167

PYMNTS

JULY 28, 2020

This month’s Deep Dive examines how eCommerce platforms can appeal to merchants worldwide by catering to sellers’ preferences and tailoring their compliance approaches to different locations. . dollars, but the practice can be inconvenient for sellers in many international markets. Complying With Payments Regulations.

Marketing 159

Marketing Regulation National Operations 159

PYMNTS

SEPTEMBER 30, 2020

Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. The pandemic is dramatically altering how merchants can transact, which data they can store and where they can store it, however.

Regulation 175

Regulation Data Regional Examples 175

PYMNTS

JULY 2, 2018

According to John Epperson, principal at Crowe LLP , that goes to show that the current approaches to regulatory and compliance technology ( RegTech ) aren’t working. There are thousands of providers in the market, Epperson said. There is a need for compliance activities that don’t burden the consumer, Epperson said.

Compliance 109

Compliance Regulation Meeting Strategy 109

Independent Banker

SEPTEMBER 25, 2014

This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. The better prepared, the less likely they are to run afoul of the continually shifting regulations. Here are several timely suggestions to consider based on recent regulatory trends they see.

Compliance 101

Compliance Regulation Community Bank Community 101

PYMNTS

DECEMBER 13, 2018

CUs are also actively communicating with law enforcement agencies, keeping regulators informed about suspicious activity, while receiving tips on noticeable trends that these same agencies are eyeing. AML Compliance Turns CUs Into Law Enforcement. However, their members are not the only ones with whom credit unions must regularly work.

Regulation 135

Regulation South Dakota ATM New York City 135

CFPB Monitor

JULY 27, 2020

The OCC issued a letter last week stating that “a national bank [and a federal savings association] may provide. The letter states: Consistent with OCC regulations and guidance on custody activities, the risks associated with an individual account should be addressed prior to acceptance. The letter states that the OCC.

National 113

National cryptocurrency Risk Management Regulation 113

PYMNTS

MARCH 8, 2018

and group compliance director, explained to PYMNTS how online tools can make remote identity verification even more robust than in-person processes — and also help kick cross-border payments into higher gear. Right now, 5 percent of the money transmission market is digital,” Nazzaro said. “[But] Digitizing Identity Verification.

Compliance 101

Compliance Regulation Online Payments 101

South State Correspondent

JANUARY 16, 2024

With the development of the term SOFR market, BSBY offers no perceived advantages over SOFR, Fed Funds, or Prime. BSBY was not well received by US regulators from its inception, but the market eventually embraced SOFR over BSBY. We believe that our program offers an advantage against the national banks. No ISDA documents.

Community Bank 195

Community Bank Community Compliance CA 195

Perficient

MARCH 3, 2022

The Office of the Comptroller of the Currency (OCC) recently released the economic and financial market scenarios that will be used in the upcoming stress tests for covered institutions. As repeated by federal bank regulators, the required economic scenarios are not forecasts. The 3-month Treasury rate increases from 0 percent to 1.5%

Capital 294

Capital Regulation Exercises United States 294

PYMNTS

OCTOBER 19, 2020

Regulation. Two government officials from European nations have advocated to have watchdogs engage in preventative measures against Big Tech to reduce their strength and handle on the market, according to reports. The new regulations would also reshape the manner in which these companies collect and harness information.

Taxes 143

Taxes Compliance Regulation Google 143

PYMNTS

DECEMBER 8, 2020

Cybercriminals are constantly one step ahead of government regulators, developing new and inventive schemes faster than the authorities can quash them. The latest arena for money laundering is through cryptocurrency , a burgeoning market expected to be valued at $1.4 Deep Dive: Enforcing AML/KYC Compliance At Cryptocurrency Exchanges.

cryptocurrency 261

cryptocurrency Mobile Compliance Analysis 261

PYMNTS

FEBRUARY 17, 2020

increased regulation over content delivered online through platforms may be on the horizon. This past week, Britain’s federal government said its media regulator, known as Ofcom, would be given new oversight to monitor and regulate material posted on the web by companies such as Facebook, Google and Twitter. In the U.K.,

Regulation 140

Regulation Google Operations Company 140

PYMNTS

OCTOBER 5, 2020

Regulation. By providing a national servicing platform, the charter would enable those kinds of companies to bypass the process by which they have to collect money transmitter licenses from states. Data Activist: Big Tech Not Following Transatlantic Data Transfer Regulations. antitrust regulation. Last week, a U.S.

Data 229

Data Google Compliance Apple 229

CFPB Monitor

OCTOBER 12, 2022

They also argue that the Bill is unnecessary and duplicates existing laws and regulations such as the Equal Credit Opportunity Act and the Gramm-Leach-Bliley Act. (In The Bill was introduced in December 2021 and a public hearing on the Bill was held on September 22, 2022. law], or insurance.”.

Regulation 144

Regulation District of Columbia Policies Groups 144

Abrigo

MAY 8, 2024

Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. They can more easily consider how to harness genAI's power to enhance their operations, compliance, risk management, and member or customer experience. GenAI is seeing varied use cases in banking.

Examples 221

Examples Fraud Resources Risk Management 221

Abrigo

JUNE 27, 2023

Key Takeaways Real estate markets are vulnerable to money laundering and fraud because of their transaction size and appreciation over time. Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases. Why real estate? In 2017, over 5.51

El Paso 195

El Paso Miami United States New York City 195

Abrigo

JUNE 15, 2023

real estate market alone. real estate market alone. has lagged in passing laws and regulations preventing criminal proceeds from flowing into real estate. national security and the integrity of the U.S. You might also like this Russian sanctions compliance checklist. However, the U.S. financial system.”

Training 195

Training Regulation Compliance System 195

Abrigo

JANUARY 17, 2024

The United Nations estimates there are currently 40 million people enslaved around the world, and that one-quarter of them are children. Look into wires to and from foreign countries more skeptically,” said Terri Luttrell, Director of Compliance and Engagement at Abrigo. “A

Training 259

Training Community Software Texas 259

PYMNTS

MARCH 6, 2017

China’s Forex regulator wants the nation to open up its domestic market, reports said Friday (Mar. The article follows an announcement from the regulator last week that said it would enable foreign investors to enter its interbank bond market and trade FX derivatives, according to reports.

Marketing 100

Marketing Regulation Capital Compliance 100

Abrigo

APRIL 18, 2022

Takeaway 3 As global interest in digital assets continues to rise, expect to see more regulation and even centralization of digital currency. However, today it is still a relatively new market that does not have mainstream usage within the United States. The industry's most significant market increase was between 2016 and 2018.

cryptocurrency 195

cryptocurrency Fraud United States Leadership 195

Abrigo

SEPTEMBER 8, 2023

However, banks and credit unions must balance their fraud-fighting obligations with consumer compliance requirements on deposit-availability timeframes and notices under Reg CC. Efficient compliance with both Reg CC and the requirements tied to anti-fraud or anti-money laundering can also greatly impact customer or member experiences.

Fraud 195

Fraud Training Regulation Compliance 195

PYMNTS

JANUARY 11, 2021

China's Commerce Ministry has unveiled new rules that prohibit companies from complying with sanctions it deems "unjustified" — regulations that, if enforced, could take the teeth out of some U.S. Failure to report compliance with foreign sanctions could lead to fines or other punishments. diplomatic measures.

US 184

US Compliance New York National 184

CFPB Monitor

JULY 29, 2022

and related entities (collectively, “Harris Jewelry”), a national jewelry retailer that markets and sells military-themed gifts, to resolve their lawsuit which alleged that Harris Jewelry had engaged in unlawful sales and credit practices targeting servicemembers.

National 78

National Retail Regulation New York 78

PYMNTS

JANUARY 25, 2021

A representative for the eCommerce retailer told Reuters that the company calls for an international approach in lieu of taxes levied by different nations. The news comes as the continent may be getting ready to scrutinize large tech companies with new regulations regarding illicit content and antitrust.

Taxes 141

Taxes Google Compliance Apple 141

PYMNTS

FEBRUARY 25, 2020

Chinese banking and business practices’ potential impacts are favored topics for bankers and merchants: Changes in this market often have ripple effects on global finances. Chinese regulators are also working on regulations to shore up application programming interface (API) innovations and platform banking. and the U.S.

Regulation 140

Regulation Compliance Online Data 140