Abrigo

JANUARY 11, 2023

Institute Against Human Trafficking reported that the 2020 Super Bowl in Miami saw a 163% increase in human trafficking reports to the national hotline over the course of the event. FinCEN has issued an updated advisory on identifying and reporting human trafficking, supplementing its 2014 guidance. BSA Rules and Regulation.

Training 195

Training Software Tampa Regulation 195

CFPB Monitor

APRIL 29, 2015

The CFPB has issued a fair lending report covering its fair lending activities during 2014. The report states that in 2014, CFPB fair lending supervisory and public enforcement actions required institutions to provide approximately $224 million in remediation. In mortgage lending, the CFPB focused on underwriting and redlining. .”

Lending 60

Lending Report Policies Compliance 60

Abrigo

JUNE 4, 2023

Introduction Prioritizing AML compliance resources The regulations laid out in the Bank Secrecy Act (BSA) are intended to promote financial transparency and identify those who misuse the financial system. Civil penalties vary, with regulators authorized to penalize between $5000 and $1,000,000 per violation for each day the breach occurs.

Compliance 195

Compliance Training Resources Regulation 195

Abrigo

JULY 19, 2021

As part of the Financial Crimes Enforcement Network’s (FinCEN) first national priorities list for anti-money laundering and countering the financing of terrorism (AML/CFT) policies, one important priority continues to be critical in deterring AML/CFT concerns. BSA Rules and Regulation. BSA Rules and Regulation. Learn more.

Training 195

Training National Community Policies 195

Celent Banking

JANUARY 26, 2017

The timing is also interesting, as only two weeks ago outgoing President Obama’s National Economic Council (NEC) released a new whitepaper called A Framework for FinTech. The NEC, a policy advisory unit of the White House established in 1993, proposed 10 high-level principles designed to move the US fintech industry forward.

Regulation 100

Regulation Policies Philadelphia Fintech 100

Jeff For Banks

AUGUST 2, 2014

My firm will occasionally provide feedback on correspondence to our clients'' regulators. I thought about what we should have said to the regulator, versus the sweet words I was encouraging our client to use. Below is a sample letter to your regulator, saying it like you mean it. Warm Regards, Schmidlap National Bank.

Regulation 95

Regulation DC FDIC Analytics 95

Abrigo

NOVEMBER 21, 2019

The US is at a disadvantage without a national beneficial ownership registry. . In 2014, FATF clarified their standards and published the Guidance on Transparency and Beneficial Ownership. Is a national beneficial ownership database in the works? BSA Rules and Regulation. BSA Rules and Regulation. Learn More.

United States 195

United States Regulation National Taxes 195

PYMNTS

SEPTEMBER 26, 2018

Australian regulators on Tuesday (Sept. Regulators probed the banks’ breaches of law in a review scrutinizing operations between 2014 and 2017, according to reports. The nation named a new Small Business Minister last month, part of a broader government reshuffling that placed SMBs closer into focus for policymakers.

Regulation 108

Regulation National Compliance System 108

PYMNTS

JULY 22, 2016

It feels like 2014 again with the ongoing popularity of alternative lending startups. It’s even more surprising given that 2016 could be the year that regulation begins to really kick in for these lenders — in the U.S., That, experts say, would be a massive headache for these players. million for alt-lenders this week.

Lending 100

Lending Regulation Big Data Risk Management 100

Abrigo

JANUARY 30, 2023

The National Association of Realtors estimated that non-financed real estate transactions represented about 19 percent of existing residential sales for 2020 and 2021. sales volume averaged nearly 14 percent between 2014 and 2018. Learn from the experts. billion in 2021, nearly doubling the previous year’s figure.

Marketing 195

Marketing Fraud Compliance Training 195

Abrigo

DECEMBER 17, 2021

In their advisory on the importance of a strong culture of compliance (FIN-2014-A007), FinCEN states that one of the keys to a robust BSA/AML program is d evoting adequate resources to its compliance function (both human and technological). Remember, regulators don't care how much you have in your budget for staffing. Learn More.

Compliance 195

Compliance Training Fraud Resources 195

Abrigo

JULY 23, 2021

The regulations are forthcoming, but institutions now should begin the process of performing a threat-focused risk assessment which will guide them where to focus their efforts. The North Korean government has been also found to have used chemical weapons against its own nationals. Included as a Priority is Proliferation Financing.

National 195

National Training United States Regulation 195

PYMNTS

AUGUST 29, 2018

When trying to understand the new eIDAS regulations set to go officially online in the EU in September, it helps, Trulioo GM Zac Cohen told Karen Webster, to take a step back and look at the general purpose of the European Union. A Changing EU (and Landscape).

Regulation 164

Regulation Guidelines Trends Online 164

PYMNTS

JUNE 21, 2018

Sources say Robinhood Markets is in talks with regulators about offering banking services to its more than 4 million users. The talks are not final and no deal has been made. Jack Randall, a spokesman for Robinhood, declined to comment.

Regulation 123

Regulation Millennials California Capital 123

PYMNTS

OCTOBER 27, 2019

The law will regulate the use of cryptography, facilitate the cryptography business and establish cybersecurity, according to the NPC Constitution and Law Committee , the news agency reported. The decree also underlines the training of talent in cryptography and will offer awards for “outstanding contributions.”.

cryptocurrency 109

cryptocurrency Training Regulation blockchain 109

PYMNTS

JUNE 16, 2018

Russia’s corporate treasurers are working with the nation’s central bank on a blockchain initiative, reports in CoinDesk said Friday (June 15). Russia’s FinTech Association and 14 of the nation’s largest banks collaborated on the development of Masterchain, reports noted, citing a white paper.

blockchain 113

blockchain National New York cryptocurrency 113

Independent Banker

SEPTEMBER 25, 2014

The better prepared, the less likely they are to run afoul of the continually shifting regulations. Regulators and industry consultants agree that community banks are generally doing a great job handling their regulatory oversight and requirements. Be aware of existing or emerging risk concerns. in Kent, Ohio.

Compliance 101

Compliance Regulation Community Bank Community 101

PYMNTS

JANUARY 27, 2020

China has actually been looking at making its own CDBC since 2014. Their mindset is that since digital currencies aren’t restricted to just one country, as traditional currencies would be, nations should work together on finding paths forward with the new technology. And they think China should be a part of that teamwork.

cryptocurrency 144

cryptocurrency National Strategy Regulation 144

PYMNTS

FEBRUARY 6, 2019

” Regulators have not accused the company of wrongdoing, and FLEETCOR said all of its fees are lawful and comply with regulations. Yet, reports said there have been 366 complaints filed with the Federal Trade Commission (FTC) against FLEETCOR since 2014. “That’s not a dumb thing to do — that’s smart.”

Cards 167

Cards Missouri Kansas Pennsylvania 167

Abrigo

JANUARY 21, 2020

Despite Federal ambiguity, State Regulators are beginning to clearly define their stances on cannabis banking. State Banking Regulators. I believe we will see more state banking regulators join them in 2020. National Credit Union Association. Compliance and anti-money laundering (AML) is going green… or is it? Conclusion.

United States 243

United States New York Regulation DC 243

PYMNTS

FEBRUARY 4, 2019

A series of regulations was established to encourage a safer, more transparent financial services environment following the 2008 financial crisis. Failure to meet AML/KYC requirement challenges can be costly for FIs, too, with regulators issuing heavy fines for lax security practices or failure to devote sufficient resources to oversight.

How To 161

How To Regulation Compliance Meeting 161

Abrigo

AUGUST 30, 2016

One of the overarching themes was providing small banks and credit unions a larger voice in determining economic policy and regulation criteria that will allow for growth.

Community Bank 150

Community Bank Community United States Policies 150

PYMNTS

JUNE 19, 2019

In an effort to clamp down on cross-border money laundering, the People’s Bank of China (PBOC) plans to bolster cooperation with other nations such as countries in Europe. The central bank’s efforts would home in on areas such as financial information exchange, anti-money laundering (AML) regulation and asset recovery, Reuters reported.

Regulation 100

Regulation Regional Course National 100

Abrigo

FEBRUARY 24, 2020

Despite Federal ambiguity, Illinois State Regulators defined their stances on cannabis banking. Illinois State Banking Regulators. As of July 2019, the Illinois Department of Financial and Professional Regulation (IDFPR) cannot penalize or discourage a state bank or credit union solely for providing financial services to CRBs.

Illinois 195

Illinois Regulation United States California 195

PYMNTS

AUGUST 21, 2018

auditing giant KPMG was hit with yet another fine from the nation’s Financial Reporting Council (FRC). million in fines for its audits of Ted Baker in 2013 and 2014 after the company admitted misconduct to the FRC. Reports in Bloomberg said KPMG was hit with $2.7 “This would help the process of making changes to the U.K.

Regulation 100

Regulation Report National Operations 100

PYMNTS

DECEMBER 7, 2018

regulators earlier this year has collapsed after a judge dismissed the case due to lack of evidence, reports in the BBC said Thursday (Dec. Tesco acknowledged in the autumn of 2014 that it overstated profits, the BBC said. The case against two former Tesco directors initiated by U.K. ” Chris Bush, former U.K.

Fraud 108

Fraud Regulation Report National 108

PYMNTS

DECEMBER 20, 2017

Reuters, citing the FATF, reported that in addition to failing to punish money launderers, Mexico’s tax authorities aren’t regulating money from real estate and luxury goods firms, which are just a front for drug operations. The allegations came in a draft report on Mexico’s efforts to fight back against illicit finance.

Taxes 100

Taxes Regulation National Report 100

PYMNTS

JULY 16, 2019

A group of Venezuelan nationals filed a fraud suit in Florida federal court claiming they were duped into a Ponzi scheme involving cryptocurrency purportedly backed by diamonds. Of the 90 cryptocurrency cases pursued by the SEC, regulators have only tracked down $36 million for investors.

cryptocurrency 115

cryptocurrency Florida Fraud Groups 115

Abrigo

JULY 9, 2015

The report, based on data through the end of 2014, discusses risks facing national banks and federal savings associations, and focuses on issues that pose threats to the safety and soundness of those OCC-regulated institutions. For example, net income declined 4 percent year over year. percent versus a 3.5

Maine 150

Maine Policies Survey Lending 150

Abrigo

JUNE 2, 2021

The guidance emphasizes a risk-focused approach to examinations and refocuses the regulators to scope each exam according to the unique financial institution, not to use a one-size-fits-all approach. Although this advisory is dated 2014, it is top-of-conversation among regulators even today. BSA Rules and Regulation.

How To 195

How To Training Compliance Policies 195

PYMNTS

JUNE 14, 2018

Tight regulations around the legal marijuana industry are barring non-wealthy entrepreneurs from entering the market, according to reports from Forbes on Wednesday (June 13). Reports also highlighted the successful and wealthy back stories of some of the nation’s current leading marijuana businesses.

Massachusetts 108

Massachusetts Industry Resources Operations 108

CFPB Monitor

NOVEMBER 19, 2018

In June 2014, the national trade association for the payday lending industry and several payday lenders initiated a lawsuit in D.C. Initiated in 2012, Operation Choke Point targeted banks serving online payday lenders and other companies that have raised regulatory or “reputational” concerns.

FDIC 68

FDIC Operations Policies Regulation 68

CFPB Monitor

MAY 12, 2021

The Fed’s final rule implementing the Durbin Amendment (Regulation II) went into effect in October 2011. Regulation II capped the interchange fee received by large issuers (with $10 billion or more in assets) to 21 cents plus 0.05% of the transaction. In 2014, in NACS v. Proposed Amendment to Regulation II.

North Dakota 78

North Dakota Cards Regulation Fraud 78

PYMNTS

MAY 12, 2016

According to FT , no public or private action was taken against the bank by regulators after the information was disclosed. regulators didn’t seem inclined to take any real steps toward looking into the claims about BSI’s role in tax evasion at the time. But as the FT’s reports showed, U.K. But as the FT’s reports showed, U.K.

Taxes 100

Taxes Fraud Regulation New York 100

CFPB Monitor

JULY 8, 2015

In a new report entitled “Debt Collection Communications: Protecting Consumers in the Digital Age,” the National Consumer Law Center “specifies the regulations the [CFPB] should adopt regarding when, where, how, and how often consumers can be contacted by debt collectors and creditors engaged in debt collection.”

Regulation 60

Regulation Mobile National Report 60

Abrigo

JUNE 22, 2015

On June 18th, the board of the National Credit Union Administration (NCUA) unanimously approved five items , including a proposed rule aimed at modernizing member business lending (MBL). billion in 2014 from only $13.4 The rule would provide greater flexibility and autonomy for credit unions to better meet the needs of their members.

Lending 150

Lending Regulation Policies Meeting 150

CFPB Monitor

JULY 7, 2015

In a new report entitled “Debt Collection Communications: Protecting Consumers in the Digital Age,” the National Consumer Law Center “specifies the regulations the [CFPB] should adopt regarding when, where, how, and how often consumers can be contacted by debt collectors and creditors engaged in debt collection.”

Regulation 60

Regulation Mobile Report National 60