article thumbnail

6 Reasons Financial Institutions Are Embracing Risk and Regulation Tactics

Perficient

Legal Obligations and Regulatory Frameworks It is well-known that financial institutions operate within a complex web of laws and regulations. Operational Efficiency and Effectiveness Adopting regulatory risk and compliance practices is not merely a box-ticking exercise. The Role of Regulatory Risk and Compliance 1.

article thumbnail

California Dept. of Financial Protection and Innovation announces plans to exercise expanded powers under Consumer Financial Protection Law

CFPB Monitor

In its January 2021 monthly bulletin , the DFPI stated that, with the CCFPL now in effect, the DFPI will begin exercising its “expanded powers to better protect consumers from unlawful, unfair, deceptive, and abusive practices.” In the bulletin, the DFPI outlines its plans to implement the CCFPL and exercise its expanded powers.

Exercises 127
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Digital Exercise Brands Get Pumped Up As In-Person Fitness Loses Muscle

PYMNTS

While gyms and in-person fitness centers wrestle with reopening regulations that differ between states and even counties, connected fitness continues its brisk run. Peloton: A Connected Fitness Bellwether . Recently crossing the 1 million subscriber mark, Peloton just reported that revenue was $607.1

Exercises 206
article thumbnail

Banks and fintechs should perform ‘trust exercises’ amid OCC scrutiny of BaaS

BankInovation

It may just be that banking-as-a-service (BaaS) providers and fintechs have grown into unique and now mature collaborators that justify updated and revised requirements from regulators. Earlier this month, Acting Comptroller of the Currency Michael J.

article thumbnail

Basking in foreign fintech investment, India exercises its kingmaker role

Payments Source

Last week, Indian regulators ordered an antitrust probe of Walmart and Amazon while Jeff Bezos and other Amazon execs traveled to New Delhi to tout a $1 billion investment to digitize local businesses. The message is U.S. investment is welcome, as long as U.S.-driven driven data mining is kept at bay.

article thumbnail

Want to save money and avoid annoying judges? Read the world’s first opinion evaluating Regulation F (Also: Read Regulation F)

CFPB Monitor

We have our first-ever federal court opinion evaluating the requirements of Regulation F! Reading Regulation F out loud” is more like it. The Question: Does Regulation F require debt collectors to use the CFPB’s model validation notice (“MVN”) to comply with the FDCPA? It’s official! See id. § 1006.34(d)(2). Id. § 1006.34(d)(2)(i)….The

article thumbnail

Bank Of England Handing Down Strict Regulations For Libra

PYMNTS

Regulations include transparency that shows economic fortitude. The FPC will exercise current authoritative “tools” instead of adopting new rules. The Libra project has received widespread backlash from politicians and regulators, with the European Central Bank warning that Libra could limit its powers to set monetary policy.