Perficient

MARCH 30, 2023

The “cloud” refers to a global network of servers, each with a unique function, that works in tandem to enable users to access files stored within from any approved device. Recently, I attended the 2023 Bank Automation Summit , where one of the significant topics of discussion was how banks navigate their transition to the cloud.

Training 492

Training Security Data Regional 492

PYMNTS

MARCH 24, 2017

Compliance is also becoming an enterprise-wide endeavor, and compliance officers must adopt a global mindset. When asked as to what the three things that are most urgently in need of attention when it comes to compliance and fraud, Gurz said that “one is balancing efficiencies versus risk.

Compliance 157

Compliance Fraud Regional Examples 157

PYMNTS

SEPTEMBER 6, 2018

Compliance and risk? Automating that compliance is now a “need to have.”. Compliance and risk officers have the unenviable task of finding out, sometimes after the fact, that not all the boxes are checked — if they even knew the boxes were there for checking in the first place.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

PYMNTS

NOVEMBER 9, 2018

MoneyGram shares sank as much as 25 percent during intraday trading on Friday (November 9), as the company reported results that reflected the impact of new compliance rules to stop fraudulent transactions, which has hurt top line momentum — and which will continue. Compliance Efforts, Continued. million to $5.5

Compliance 160

Compliance Fraud Operations Management 160

CFPB Monitor

FEBRUARY 28, 2024

The CFPB has revised its internal supervisory appeals process for institutions seeking to appeal a compliance rating or an adverse material finding. As an initial matter, the revised appeals process references the “Supervision Director” rather than the “Associate Director” (for supervision, enforcement, and fair lending). .

Compliance 78

Compliance Lending 78

CFPB Monitor

NOVEMBER 10, 2016

The Federal Financial Institutions Examination Council (FFIEC), whose members include the CFPB, has finalized guidance setting forth a revised uniform interagency consumer compliance rating system (CCRS). The revisions reflect changes in consumer compliance supervision since the current rating system was adopted in 1980.

Compliance 120

Compliance System Regulation FDIC 120

Tech and Finance

MAY 7, 2019

A relative newcomer to the reference data business, Exchange Data International, is challenging the incumbents for what it terms anti-competitive practices. Burton-Taylor International Consulting, the leading authority on the market data business, estimates the global market for reference data is $2 billion to $3 billion.

Data 38

Data New York Strategy Compliance 38

CFPB Monitor

MARCH 4, 2021

The CFPB has proposed to delay the mandatory compliance date for the new general qualified mortgage (QM) rule that amends the Regulation Z ability to repay/QM rule from July 1, 2021 to October 1, 2022. Is considering whether to initiate a rulemaking to revisit the seasoned loan QM rule.

Compliance 78

Compliance Policies Community Regulation 78

CFPB Monitor

MAY 11, 2020

On May 6, 2020, the CFPB issued an ECOA/Regulation B “Compliance Aid” containing three FAQs that clarify certain issues related to notification of action taken on Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”) loan applications. The Compliance Aid is available here.

Compliance 78

Compliance Regulation Data Security 78

CFPB Monitor

JUNE 30, 2022

Of special note, the OCC also believes compliance risk is “heightened” for Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) compliance because of world events and compliance staffing concerns. BSA/AML Compliance Risks. Cybersecurity Risks.

Compliance 78

Compliance Fraud Technology Operations 78

PYMNTS

SEPTEMBER 17, 2019

Data residency, on the other hand, refers to where the data resides geographically. Moreover, all the data the company stores is tokenized and encrypted, so they have a higher degree of ownership and protection around it. Companies may have a customer within the European Union and data might have to be reserved in servers in the Euro Zone.

Fintech 200

Fintech Compliance Data Regulation 200

PYMNTS

OCTOBER 13, 2016

Regulation and compliance can be a tough space for many to wrap their heads around. Sunil Madhu , founder and CEO of Socure , joined Karen Webster to give context to some of the compliance concepts trending in the industry and also share his thoughts on what’s coming next down the regulatory pipeline. Compliance Decoded.

Compliance 100

Compliance blockchain Regulation Data 100

Perficient

JUNE 1, 2022

Transactions that are not reported within the specified timeframe are classified as late (FINRA TRACE reporting requirements always reference Eastern Time). I’ve created a guide, The What, Why, and How of TRACE Reporting Compliance , that outlines the intricacies, rules, and regulations surrounding TRACE. Interested in learning more?

Report 294

Report Security Regulation System 294

Perficient

MAY 27, 2022

Significantly, the SEC wrote that it released its finding “to caution the industry and market participants” and advise those that use blockchain technology for capital raising to take the necessary steps to ensure compliance with the securities laws.

cryptocurrency 332

cryptocurrency Regulation Management Bitcoin 332

CFPB Monitor

FEBRUARY 25, 2021

He also advised that the CFPB plan to delay the July 1, 2021, mandatory compliance date for the new general QM rule is intended “to ensure consumers have the options they need during the pandemic and financial crisis it has caused, as well as to provide maximum flexibility to the market.”

Compliance 78

Compliance Policies Regulation Marketing 78

Perficient

NOVEMBER 30, 2021

As always, the regulators’ main concern was to promote safety and soundness, consumer protection, and compliance with applicable laws and regulations, including anti-money laundering (AML) and illicit finance statutes and rules. Stablecoins are cryptocurrencies that attempt to peg their market value to some external reference.

cryptocurrency 309

cryptocurrency Regulation Policies Compliance 309

PYMNTS

OCTOBER 7, 2019

While the rule has already applied to Greece since 2018, the recent parliament decision refers to the particulars of its application within the country. In GDPR news, the Greek Parliament has passed the rule into law in its country to enable data protection for the online and personal data of its citizens.

Regulation 134

Regulation Trends Compliance National 134

Perficient

MARCH 7, 2021

With adoption rates of Power Platform skyrocketing, so do the critical questions of groups (Security, Compliance, IT, Legal) within the organization : “How do we limit our exposure to data leaks?”. The third is to begin establishing the organizational policies, procedures and compliance needs to fit your needs. How do we manage use?”.

Resources 322

Resources Compliance Innovation Analytics 322

ForwardBanker

JULY 25, 2019

In June 2017, the Alternative Reference Rates Committee (ARRC) selected the Secured Overnight Financing Rate (SOFR) as the replacement for USD LIBOR. The post Reference rates and the LIBOR sunset: Cause for concern? SOFR is based on the overnight interest rate received for lending cash against Treasury securities.

Lending 28

Lending Security US New York 28

PYMNTS

NOVEMBER 25, 2018

There is more than one way to do this,” said the commission spokesman, referring to the methods Google puts in place. “It A spokesman for the European Commission told CNET that it has received the letter and was reviewing it carefully. It is Google’s sole responsibility to change its conduct in order to comply with this obligation.”

Google 108

Google Comparison Compliance System 108

CFPB Monitor

MAY 31, 2019

The joint status report filed on May 17 stated that that the comment period for the Bureau’s proposals to rescind the Payday Rule’s ATR provisions and to delay the compliance date for the ATR provisions closed on, respectively, May 15 and March 18.

Texas 60

Texas Compliance Report Groups 60

CFPB Monitor

APRIL 7, 2022

The FDIC has issued the March 2022 edition of Consumer Compliance Supervisory Highlights which includes a description of some of the most significant consumer compliance issues identified by FDIC examiners during consumer compliance examinations conducted in 2021. Fair lending.

FDIC 78

FDIC Compliance Lending Regulation 78

Perficient

MARCH 22, 2021

Tiered support refers to the way that a support center is organized to handle incoming support issues in the most effective and efficient manner possible. SLA compliance based on incident priority. Refer to runbook to resolve the issue as needed. The Necessity of Tiered Support. Scheduled and proactive maintenances. Monitoring.

Analysis 294

Analysis System Groups Knowledge Base 294

Abrigo

MAY 19, 2023

Takeaway 2 Examining the following objectives and evaluating your loan review system based on them can ensure regulatory compliance. WATCH Takeaway 1 Loan review officers must figure out how to adhere to the FDIC’s guidance on loan review and credit risk review systems.

System 195

System Regulation How To Lending 195

ATM Marketplace

APRIL 1, 2016

A new reference guide from ATM Marketplace and Triton provides help to ATM deployers as they implement the hardware and software updates required for EMV compliance.

ATM 48

ATM Compliance Software 48

Perficient

FEBRUARY 22, 2023

The next offering for adoption within automation is more human-like Advance AI, which is being referred to as Autonomous Enterprise. In the banking industry, RPA is being used to automate a wide range of processes, from loan origination and account opening to back-office processes, such as compliance and accounting.

Trends 474

Trends North Carolina Customer Experience Charlotte 474

Perficient

APRIL 2, 2021

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. AI can assist internal audit and independent risk management to increase sample size (such as for testing), evaluate risk, and refer higher-risk issues to human analysts. Textual analysis.

Regulation 309

Regulation Industry Risk Management Analysis 309

CFPB Monitor

JULY 25, 2022

The Federal Reserve Board issued a proposa l last week that would establish default rules for benchmark replacements in certain contracts that use as a reference rate the London Interbank Offered Rate (LIBOR), which will be discontinued in 2023. The proposal implements the Adjustable Interest Rate (LIBOR) Act, which was enacted in March 2022.

Regulation 78

Regulation Cards Compliance Examples 78

PYMNTS

AUGUST 14, 2019

The second was the rise of cryptocurrency (though during his remarks he tended to refer to it as Convertible Virtual Currency or CVC). It concerns me when I hear about some compliance budgets being cut by casinos looking to trim costs and retain gamblers,” he noted. The Team Oriented Nature Of Compliance .

Compliance 163

Compliance Las Vegas Mobile Data 163

CFPB Monitor

FEBRUARY 5, 2019

Ballard Spahr attorneys will hold a webinar, “The Prepaid Rule Takes Effect: Considerations for Properly Implementing the CFPB’s Prepaid Accounts Rule” to discuss key compliance considerations ahead of the Prepaid Rule’s effective date. This compliance challenge will require deep familiarity with the existing Reg. to 1:00 p.m.

Compliance 60

Compliance Analysis Groups Resources 60

CFPB Monitor

APRIL 27, 2020

The report states that the Bureau “is continuing to make progress” on its proposed rulemaking to rescind the Payday Rule’s ability-to-repay (ATR) provisions and references the Bureau’s statement in its Fall 2019 rulemaking agenda that it expected to take final action on the proposal in April 2020.

Groups 78

Groups Report Compliance Texas 78

PYMNTS

JANUARY 8, 2020

8), the Securities and Exchange Commission ’s (SEC’s) Office of Compliance and Examinations (OCIE) offered up a list of its priorities for the year that has just dawned. Call it, perhaps, a New Year’s Resolution list — for regulators. In documents released Tuesday (Jan.

blockchain 138

blockchain Phoenix Compliance cryptocurrency 138

PYMNTS

AUGUST 13, 2019

The platform connects banks to the company’s Smart Onboarding Engine to streamline KYC , anti-money laundering (AML) and other compliance checks when onboarding new clients. ” Last year, ezbob announced a partnership with American Express in which Amex refers its U.K. A press release issued on Monday (Aug.

Lending 108

Lending Compliance Analysis Data 108

PYMNTS

SEPTEMBER 9, 2019

Software-as-a-Service FinTech HighRadius is collaborating with bank reference automation firm Confirmation to broaden the functionality of HighRadius’ Online Credit Application solution. According to a press release on Thursday (Sept.

Management 108

Management Online America Data 108

PYMNTS

DECEMBER 17, 2018

It’s been six months since the General Data Protection became law of the land, at least in the European Union, and yet the majority of companies that must be in compliance with that mandate are woefully unprepared. May 25 should have been the wakeup call, but it’s not too late to begin your compliance journey. The time is now.”.

Report 167

Report Fraud Compliance Apple 167

CFPB Monitor

OCTOBER 8, 2020

The CFPB also rescinded its Compliance Bulletin 2015-05, RESPA Compliance and Marketing Services Agreements. If an MSA involves an agreement or understanding to refer business incident to or part of a settlement service in exchange for a fee, kickback, or thing of value, then the MSA or conduct under the MSA is prohibited.

Marketing 148

Marketing Regulation Analysis Compliance 148

Abrigo

DECEMBER 30, 2019

Institutions must create a strong culture of compliance. Creating a Culture of Compliance. One of the more important takeaways from 2019 is that all institutions, regardless of size or risk profile, must have a strong culture of compliance, as directed by FinCEN’s advisory in 2014. Looking back to strengthen your BSA program.

Training 195

Training Compliance Leadership Fraud 195