PYMNTS

OCTOBER 8, 2018

The impact of Europe’s General Data Protection Regulation ( GDPR ) continues to take shape roughly five months after taking effect, and Facebook could be on the hook for billions of dollars in fines tied to a data breach of about 50 million user accounts. Crypto Regulations.

United States 174

United States Regulation cryptocurrency Cleveland 174

PYMNTS

OCTOBER 1, 2018

Business lending in Australia probably won’t face tougher loan regulation when it comes to small business loans. He went on to describe “the central and perhaps irreplaceable role played by guarantors in securing small business finance and the particular vulnerability of small businesses to failure.”.

Lending 135

Lending Regulation National Report 135

Abrigo

JUNE 5, 2023

In addition, even before the recent banking troubles, regulators have emphasized the financial institution’s responsibility to provide leaders with information on key areas of planning, operations, and risk management. Regulators review them to assess safety and soundness.

Report 195

Report Risk Management Capital Data 195

Abrigo

MAY 20, 2020

FinCEN reminds financial institutions that “detecting, preventing, and reporting COVID-19 scams and illicit activity is critical to our national security.” Lending & Credit Risk. Member Business Lending. SBA Lending. Lending & Credit Risk. SBA Lending. Lending & Credit Risk. SBA Lending.

Lending 195

Lending Fraud Training Report 195

PYMNTS

FEBRUARY 14, 2018

Wells can still lend and take deposits. In reference to corporate governance, Wells has two months to boost board oversight and compliance efforts. The move is unprecedented, as the Fed has never before placed limits on how large a company can get.

Regulation 100

Regulation Conference Compliance Lending 100

PYMNTS

JUNE 12, 2018

Days after Australian alternative lending platform Prospa delayed its Initial Public Offering (IPO) indefinitely, one of its bank partners, Westpac , announced it was ending its relationship with the FinTech. The bank did not reveal how many business borrowers it referred to Prospa under their agreement. ”

Lending 100

Lending Fintech Security Regulation 100

CFPB Monitor

JANUARY 28, 2021

As a result of the PAs, the Bureau initiated significantly more fair lending supervisory events during the period covered by the report than during the prior reporting period. During the period covered by the report, the Bureau filed one fair lending public enforcement action and referred three ECOA matters to the DOJ.

Report 78

Report Leadership Lending Regulation 78

Abrigo

SEPTEMBER 11, 2023

How can it impact our banks, credit unions, and customers or members? In the simplest sense, generative AI refers to artificial intelligence models that generate new data similar to the data that “trained” the model. So, what is generative AI?

Risk Management 195

Risk Management Data Technology Fintech 195

CFPB Monitor

NOVEMBER 22, 2022

In particular, the report’s recommendations deserve attention because they are likely to influence future actions by the federal banking regulators and the CFPB. (The The report attributes the risk that such schemes will arise to bank/fintech relationships that “lack proper regulatory oversight or principles for responsible lending.”

Fintech 78

Fintech Report Data Lending 78

PYMNTS

JUNE 11, 2018

In one of the latest salvos , know your customer, or KYC, efforts are being championed by the Asia Securities Industry and Financial Markets Association ( ASIFMA ). community banks hailed some changes to the Dodd-Frank regulations, particularly in regard to how small to medium banks are treated. Closer to home, in the U.S.,

Regulation 100

Regulation Community Bank Lending Industry 100

PYMNTS

SEPTEMBER 11, 2017

Alternative lending hasn’t completely lost its edge with investors. An announcement made last week noted Reward Finance landed a secured loan note facility against the investment, which the company said will double its small business financing capabilities. The alternative lending industry in the U.K.

Lending 109

Lending Groups Capital Resources 109

PYMNTS

FEBRUARY 27, 2020

Carter observed, “What we have seen over the past few years has been a growing emphasis on data privacy and, particularly, some nod toward user empowerment — and so that has been reflected in some of the privacy regulations that have come out.”. Fifth Third Bank Taps FinTech For SMB Lending. As part of the U.K.’s

Fintech 192

Fintech Fraud Data Lending 192

CFPB Monitor

OCTOBER 27, 2022

GAP insurance generally refers to third party insurance purchased by a consumer in a separate transaction from the actual vehicle purchase, typically as added coverage to their auto insurance. 10 USC § 987(i)(6).

California 148

California Security Regulation United States 148

PYMNTS

NOVEMBER 23, 2017

The end result is that companies outside China will be able to, eventually, control Chinese securities and asset management firms, insurance companies (through joint venture majority stakes) and banks. In reference to life insurance firms, a 51 percent limit will take effect and will be eliminated in five years. trillion at 2014’s end.

Marketing 128

Marketing Lending Security Operations 128

CFPB Monitor

JULY 29, 2022

The action is notable in that it is the first time the FTC has brought an action under the Military Lending Act (“MLA”). State regulators may also supervise MLA requirements pursuant to state law). a)(2)), it is rare to see a claim that an alleged violation of TILA constitutes a MLA violation.

National 78

National Retail Regulation New York 78

Independent Banker

NOVEMBER 30, 2021

Between the [Trump] administration and Congress and the regulators, they did a terrific job of allowing banks to work with their borrowers,” says Jeff W. Another option would be to do a separate loan to amortize those deferred payments, which again would be dependent on regulators, he adds. Dick, chairman and CEO of $1.7

Community Bank 209

Community Bank Community Texas Dallas 209

CFPB Monitor

MARCH 30, 2016

As we have addressed , Congress passed the Helping Expand Lending Practices in Rural Communities Act of 2015 (HELP Act) on December 4, 2015, in efforts to expand the designation of additional areas as being “rural” under Regulation Z of TILA. More specifically, Congress struck out the word “predominantly” from TILA provisions.

Lending 60

Lending Regulation Operations Community 60

CFPB Monitor

NOVEMBER 20, 2014

While the CFPB’s blog post and bulletin are focused on mortgage lending, it is important to note that similar fair lending concerns apply to non-mortgage consumer credit. The bulletin discusses the consideration of Social Security disability income for purposes of the Regulation Z ability-to- repay/qualified mortgage rule.

Guidelines 79

Guidelines Security Lending Regulation 79

PYMNTS

AUGUST 18, 2016

Redlining refers to an unfortunate practice of the late 20th century when banks and realtors would conspire to make it harder for certain buyers – usually minorities – to buy homes, especially in certain areas.

Lending 100

Lending Alabama Security Marketing 100

Abrigo

JULY 12, 2021

While many of these extremists (also referred to as extreme right-wing (ERW) terrorism) are loan wolves, it is understood that there are also small to medium sized organizations, some transnational. BSA Rules and Regulation. Lending & Credit Risk. AML Professionals and executives alike, hold on tight. Learn more. Learn More.

Training 195

Training Policies United States Report 195

PYMNTS

NOVEMBER 29, 2017

According to the forthcoming digital bank-and-brokerage service combo’s co-founder and CEO, Stephane Lintner, the firm is launching a model that reimagines security in the digital age. Security through decentralization. Security is a focus. Data privacy and security. That’s where companies like Jiko come into play.

Digital Banking 108

Digital Banking Trends Security Regulation 108

Abrigo

APRIL 7, 2022

Perhaps the most significant practical impact of SCALE is that by introducing it, regulators have clarified that financial institutions have the space to bring in external information like peer information for their computational estimates. It can be challenging to model forecasts for institutions with small lending footprints.

Policies 195

Policies Data Examples Lending 195

CFPB Monitor

JULY 6, 2020

The Economic Growth, Regulatory Relief, and Consumer Protection Act directs the CFPB to implement an exemption from the mandatory escrow account requirement for higher-priced mortgage loans under the Truth in Lending Act and Regulation Z for certain insured credit unions and insured depository institutions.

Regulation 78

Regulation Policies FDIC Lending 78

CFPB Monitor

JUNE 30, 2022

These echo the suggestions of the Cybersecurity and Infrastructure Security Agency , a government agency within the Department of Homeland Security, in their recently announced Shields Up initiative. Risks of Engaging with New Technologies, Including Distributed Ledger Technologies and Digital Assets.

Compliance 78

Compliance Fraud Technology Operations 78

PYMNTS

SEPTEMBER 6, 2018

Many FinTech firms operate with an on-demand mentality — services, payments and lending done 24/7, across time zones and currencies. There also is what is being billed as a “plugin knowledge base” that offers implementation and reference guides, along with videos. they can take place with tokens classified as securities.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

PopularBank

MARCH 25, 2021

After the 2008 Financial Crisis, interbank lending and borrowing began to decline as banks looked for other means to obtain financing. For dollar-denominated loans, the Security Overnight Financing Rate (SOFR) is likely to serve as the new replacement index for USD LIBOR rates. What the LIBOR phase-out means for Popular Bank customers.

Lending 59

Lending Groups Regulation US 59

BankBazaar

APRIL 19, 2023

This can in turn cause a chain reaction of bank failures as other banks are forced to pay out depositors who have moved their funds to more secure institutions, leading to a broader financial crisis. What have the regulators done? The US president has recently said that the perpetrators will face the consequences.

US 78

US United States FDIC Regulation 78

CFPB Monitor

JULY 2, 2019

In April 2011, the CFPB issued guidance indicating that it would not enforce Section 1071 until it issued implementing regulations. In May 2017, the CFPB issued a RFI and a white paper on small business lending in conjunction with a field hearing on small business lending.

California 60

California Resources Community Lending 60

Gonzobanker

AUGUST 7, 2018

One of the first sections in the report—and one of the most important in my opinion—was a discussion of the need for better regulation and policies concerning the sharing and use of consumer financial data. However, there is a lack of consensus on what secure and reliable access entails. As described by one observer, ‘the U.S.

Data 60

Data Report Fintech United States 60

Abrigo

DECEMBER 27, 2022

A worsening economy can exacerbate conditions that experts refer to as the fraud triangle fundamentals—pressure, opportunity, and rationalization. Government impersonation scam : Criminals pose as IRS or Social Security employees and threaten to arrest or prosecute victims unless they agree to provide funds or other payments.

Fraud 195

Fraud Trends cryptocurrency Software 195

PYMNTS

JANUARY 17, 2019

The Securities and Exchange Commission (SEC) and the Department of Housing and Urban Development (HUD) were both areas of particular concern for Waters in the face of the shutdown – she noted that the SEC is the “cop on the block” for investors, and that a government that has posted a “closed” sign means it can’t do its work on behalf of investors.

Lending 134

Lending Community Bank Maine Policies 134

PYMNTS

JUNE 17, 2016

You want to buy them out,” referring to the banks. A few days later, one of the founding fathers of FinTech, Renaud Laplanche , was forced out of Lending Club, the peer-to-peer lender he founded in 2006, following scandals over loan disclosures and conflicts of interest. Lending Club alone sent an astounding 33.9

Bitcoin 100

Bitcoin Lending blockchain Fintech 100

CFPB Monitor

FEBRUARY 8, 2021

Based on his criticism of consumer reporting agency data security practices, Heather raised the possibility that under Mr. Chopra’s leadership, the CFPB might use its supervisory authority over larger consumer reporting agencies and its UDAAP authority to probe the data security practices of consumer reporting agencies.

Leadership 78

Leadership Lending Groups Policies 78

CFPB Monitor

SEPTEMBER 3, 2019

These documents are categorized by state, license, and topic, including: virtual currency; correspondence to mortgage broker; lender and originator licensees; money transmission; mortgage underwriting and processing; third-party payment processing; mobile home lending; and mortgage servicing.

Tools 60

Tools Industry Online Resources 60

CFPB Monitor

OCTOBER 4, 2022

A previous version of these procedures referenced the Regulation Z definition of “private education loans” which differs from the Truth in Lending Act definition. Transcript withholding. The CFPB observed that some postsecondary schools withhold official transcripts from students who are delinquent on a debt owed to the school.

Policies 146

Policies Compliance Payments Training 146

BankUnderground

MARCH 1, 2021

During these negotiations Catto lobbied for the Bank not to be given more powers to regulate banks. The negotiations went smoothly on the whole but, according to records in the Bank’s archives, Catto declared himself during one meeting at the Treasury to be ‘strongly against any legislation giving powers to regulate the banks’.

Policies 125

Policies Regulation Meeting Industry 125

CFPB Monitor

JULY 22, 2020

Thus, the OCC makes it clear that the adoption of its Madden and “true lender” fixes should not be taken as a sign that conduct injuring borrowers will be tolerated. Previously, Acting Comptroller of the Currency Brian Brooks indicated that the OCC expected to partner with the FDIC in developing the OCC’s “true lender” rule.

National 78

National Lending Exercises FDIC 78