PYMNTS

NOVEMBER 15, 2019

One part of the anti-money laundering (AML) regulations is the “travel rule,” which compels exchanges to disclose identities of recipients and receivers for money transfers $3,000 or higher. “It The travel rule was first instituted in 1996, and it was expanded to apply to crypto in 2013. 15) that the U.S. billion this year.

Guidelines 125

Guidelines Regulation Compliance blockchain 125

PYMNTS

OCTOBER 8, 2018

“All of these institutions are spending billions and billions, and billions, of dollars on compliance and AML, not to mention a ton of time and talent that goes into this,” Adjaoute told Webster. Instead, they are drawing fines from regulators and taking on massive damages. New Technology For Regulators. What’s Next.

Fraud 190

Fraud Regulation Compliance System 190

Abrigo

AUGUST 8, 2021

Independent Loan Review Systems in Banking Banking regulators have outlined expectations for effective, independent loan review and credit risk review. . This article is substantially updated from a 2013 blog post. It also monitors compliance with applicable regulations and laws. Identifying Credit Weaknesses.

System 195

System Lending Policies Regulation 195

PYMNTS

SEPTEMBER 20, 2018

The regulator was prompted to reopen the investigation after Danske Bank said this week that employees of its Estonian branch didn’t conduct basic background checks on customers who lived outside the country. . The email stated that Estonian authorities have repeatedly complained to Denmark banking regulators.

Regulation 122

Regulation Compliance Capital Report 122

PYMNTS

JANUARY 9, 2019

The case traces its genesis to 2013, when several businesses joined a group and, headed by hair salon Expressions Hair Design in New York, filed a suit in federal court against the state ban on surcharges. The Supreme Court sent the case back to the Second Circuit, deciding that the case was a regulation of commercial speech.

New York 200

New York Cards Florida Texas 200

PYMNTS

JUNE 15, 2018

In the Middle East , RAK Bank has said it will offer Sage accounting software to business banking customers, in an agreement that helps those firms manage value-added tax (VAT) compliance mandates. Reuters said the number of employees working on those compliance efforts now stands at more than 300, on average per financial institutions.

Fintech 115

Fintech Compliance Software Taxes 115

Abrigo

OCTOBER 3, 2014

Thomas focused on three key issues directly affecting the present and future of the accounting industry – increased regulations, a shifting workforce, and changing continuing education – as well as some thoughts on the opportunities these challenges offer.

New Jersey 270

New Jersey social media Industry Regulation 270

Abrigo

FEBRUARY 23, 2023

According to the Federal Reserve Bank of Kansas City , community banks’ deposit market share dropped to 15% in 2022 from 22% in 2013. Check out our 1071 compliance resources. For smaller banks, longer-term industry consolidation trends and competition are also eroding deposit market share. Talk to a specialist to learn more.

Community Bank 195

Community Bank Kansas City Community Lending 195

CFPB Monitor

OCTOBER 28, 2019

The CRC is an organization comprised of more than 60 national companies representing the diverse ecosystem of debt collection including creditors, data/technology providers and compliance-oriented debt collectors that are larger market participants.

Resources 60

Resources Policies Compliance Industry 60

PYMNTS

MAY 16, 2018

May marks the debut of new compliance efforts – key among them, of course, GDPR (which covers Europe but touches these shores), and as of last week, new customer due diligence mandates. . The report recommends a collaborative approach among information security and compliance team members.

Fraud 100

Fraud Compliance Cleveland Ohio 100

PYMNTS

DECEMBER 9, 2020

The company was founded in 2013, and its mission is to address India’s enormous credit problem by providing flexible and timely credit delivered via a seamless mobile experience. Capital Float had provided 500,000 clients with $1.2 billion in funding as of April, although the virus’s spread was greatly impacting India’s FinTech space.

Video 175

Video Capital Lending Security 175

CFPB Monitor

JULY 29, 2022

For closed-end credit, TILA and Regulation Z require creditors to disclose, before the credit is extended, clearly and conspicuously in writing, specific financing terms, including the identity of the creditor, the amount financed, the itemization of the amount financed, the finance charge, the annual percentage rate, and the payment schedule.

National 78

National Retail Regulation New York 78

PYMNTS

SEPTEMBER 26, 2016

” The bill was unanimously approved in August by the Assembly after being amended three times and is expected to regulate the transition of California courts to e-filing. E-file managers have typically held lucrative million-dollar contracts with some of California’s largest courts. Convenience fees charged by Tyler range from 2.75

California 100

California Cards Sacramento Texas 100

CFPB Monitor

AUGUST 1, 2022

The CFPB announced last week that it has entered into a settlement with Hyundai Capital America (Hyundai) to resolve alleged violations of the Fair Credit Reporting Act and Regulation V arising from Hyundai’s reporting of information on vehicle retail installment contracts and leases to consumer reporting agencies (CRAs) from 2016 to 2020.

Policies 78

Policies Report System Regulation 78

PYMNTS

MAY 23, 2019

As a result, the online bank was criticized for not being diligent about security and compliance controls as it rushed to grow. Launched in 2013, N26 has secured more than $500 million in backing from investors, including Tencent Holdings and Allianz, and currently has more than 2.5 million customers.

Regional 108

Regional America Compliance Security 108

CFPB Monitor

MARCH 9, 2020

On March 5, 2020, the OCC issued a revised set of FAQs designed to supplement OCC Bulletin 2013-29 (Third-Party Relationships: Risk Management Guidance) issued on October 30, 2013. Reliance on, and use of, third party-provided reports, certificates of compliance, and independent audits.

Risk Management 78

Risk Management Data Management Compliance 78

BankUnderground

NOVEMBER 27, 2020

In a recent paper , we shed new light on the consequences of this type of regulation by examining the recent UK ‘ring-fencing’ legislation. Eight decades later, the debate still rages on: should retail and investment banking be separated, as Glass-Steagall required? How does ring-fencing affect bank behaviour?

Lending 109

Lending Retail Groups Maine 109

CB Insights

SEPTEMBER 22, 2017

Deals to regtech startups have increased steadily (if at times slowly) over the past few years, from 83 deals in 2013 to 147 last year. Using CB Insights data, we dug into deal and funding trends to regtech startups, 2013 – 2017 YTD (9/10/17). Startups are working to change how companies comply with regulation. RegTech Trends.

Compliance 46

Compliance Trends Software Capital 46

Abrigo

AUGUST 6, 2019

At the recent NYU Law Program on Corporate Compliance and Enforcement , FinCEN Director Kenneth A. Like other FinCEN advisories, they contain common typologies, red flags to look for, and guidance on complying with FinCEN regulations to address those threats and vulnerabilities. billion since 2013.

System 264

System Las Vegas San Antonio San Diego 264

Fintech Labs Insights

MAY 2, 2017

The recent news that due diligence innovator OutsideIQ agreed to be acquired by compliance specialist, Exiger, is a sign that the RegTech revolution in fintech is real. In March, the company partnered with SAP Ariba, and teamed up with Genpact to provide better KYC and compliance solutions for FIs.

Compliance 16

Compliance Maryland New York Conference 16

Fintech Labs Insights

AUGUST 24, 2016

Real-time banking support company CustomerXPs recently made a move to help banks in the UAE maintain compliance with new liquidity regulations. The product will help banks in the UAE mitigate intraday liquidity risk and comply with the Basel Committee on Banking Supervision (BCBS) 240 regulation.

Compliance 12

Compliance Tools Regulation Analysis 12

CFPB Monitor

SEPTEMBER 12, 2019

In addition, the CFPB has announced the creation of the American Financial Innovation Network (ACFIN) to facilitate coordination between the CFPB, other federal regulators, and state regulators and the CFPB’s issuance of the first NAL under the revised NAL Policy. Product Sandbox. NAL Policy.

Policies 60

Policies Compliance Regulation South Carolina 60

CFPB Monitor

DECEMBER 18, 2014

.” In the CFPB’s report on campus financial products released in September 2013, the CFPB found that campus financial product marketing arrangements have shifted away from credit cards towards student checking and debit or prepaid cards. The Official Commentary to Regulation Z (Comment 1026.57(b)-1)

Report 74

Report Cards Compliance Marketing 74

CFPB Monitor

JUNE 11, 2015

The standards go into effect on June 10, 2015 and apply to all entities regulated by the CFPB or one of the other agencies. Given the June 10 effective date, regulated entities have little time to waste in taking steps to incorporate the standards into their daily business practices. Ballard Spahr will be hosting a webinar at 3 p.m.

Regulation 60

Regulation FDIC Policies Compliance 60

PYMNTS

DECEMBER 10, 2020

Government regulators and cryptocurrency exchanges are frantically looking for ways to regulate and prevent the laundering of stolen money through cryptocurrencies, with some methods showing more promise than others. Enforcing AML/KYC Compliance At Cryptocurrency Exchanges. Cryptocurrency-related crimes totaled $4.3 or the U.S.,

cryptocurrency 222

cryptocurrency Compliance Bitcoin Regulation 222

Independent Banker

MARCH 15, 2015

As advocated by ICBA, the CFPB proposed rule released in January 2013 structured the qualified mortgage with legal safe harbor protections for some loans. Three-quarters of the community bankers who responded to the survey said the regulations are keeping them from making more mortgage loans.

Washington 70

Washington Community Bank Community Survey 70

Independent Banker

FEBRUARY 24, 2015

As advocated by ICBA, the CFPB proposed rule released in January 2013 structured the qualified mortgage with legal safe harbor protections for some loans. Three-quarters of the community bankers who responded to the survey said the regulations are keeping them from making more mortgage loans.

Washington 70

Washington Community Bank Community Survey 70

Independent Banker

OCTOBER 31, 2021

October 2013. December 2013. Regulators implement ICBA-supported three-year transition. Our regulator, the OCC, has notified its banks that they will be looking for action plans going forward that address the 2023 deadline.”. April 2011. ICBA tells FASB CECL isn’t feasible for community banks. December 2011. June 4, 2019.

Community Bank 91

Community Bank Community Software New York City 91

CFPB Monitor

JANUARY 19, 2015

Section 342 of Dodd-Frank directs each of the federal financial regulatory agencies to create an Office of Minority and Women Inclusion (OMWI) to oversee diversity efforts at the agencies, and further, to develop standards for assessing diversity policies and practices at regulated financial entities.

FDIC 60

FDIC Report Policies Regulation 60

Independent Banker

OCTOBER 14, 2014

In fact, the FFIEC even released guidance in December 2013 on social media, entitled “Social Media: Consumer Compliance Risk Management Guidance.” Section IV, Risk Areas, is helpful in evaluating risk and ensuring social media activity complies with regulations. It is no wonder banks are joining in. Following the tweets.

social media 88

social media Risk Management Compliance Community Bank 88

Celent Banking

MARCH 2, 2017

OCC 1 TPRM regulations alone require the bank to evaluate 16 risk dimensions when engaging with a third party. My recent two research reports discuss the changing and expanding landscape for TPRM and explain why banks, regulators and third parties need to commit to their significant other in the management and responsibility of risk.

How To 100

How To Risk Management Management Regulation 100

CFPB Monitor

OCTOBER 12, 2015

The CFPB advises that during initial examinations for TRID rule compliance, examiners will look at an institution’s compliance management system and its overall efforts to comply. Fannie Mae also indicated that it will post FAQs on its website that will answer additional questions about the TRID rule.

Compliance 60

Compliance Exercises Training Industry 60

CFPB Monitor

AUGUST 5, 2019

The Department of Housing and Urban Development is expected to soon release proposed revisions to its 2013 rule under which HUD or a private plaintiff can establish liability under the Fair Housing Act (FHA) for discriminatory practices based on disparate impact even if there is no discriminatory intent (Rule).

Community 68

Community Policies Compliance Regulation 68

CFPB Monitor

MARCH 24, 2016

The CFPB’s press release describes the recommendations as “an extensive set of voluntary best practices” and, in his prepared remarks , Director Cordray stated that the recommendations “are not binding regulations; they are simply suggestions we urge institutions to consider in serving their customers.”

Report 60

Report Compliance Regulation Training 60

CFPB Monitor

NOVEMBER 4, 2015

They note that as recently as 2013, the Department of Education had determined that ACICS “is a reliable authority with respect to the quality of education or training offered by the institutions of higher education they accredit.”

Compliance 60

Compliance Training Examples Regulation 60

CFPB Monitor

OCTOBER 27, 2015

They note that as recently as 2013, the Department of Education had determined that ACICS “is a reliable authority with respect to the quality of education or training offered by the institutions of higher education they accredit.”

Compliance 60

Compliance Training Examples Regulation 60

Fintech Labs Insights

MAY 17, 2016

For financial planners in Australia, meeting the Future of Financial Advice (FoFA) Opt-in regulations just got a lot easier. “The combination of Midwinter’s advice software (AdviceOS) with SuiteBox sets a new benchmark for efficiency, compliance, and client engagement for advisors in Australia,” SuiteBox CEO Ian Dunbar said.

Compliance 14

Compliance Meeting Software Technology 14