CFPB Monitor

AUGUST 3, 2015

The CFPB has issued its 2015 Plain Writing Act Compliance Report. Examples given by the CFPB include its “Ask CFPB” online Q&A tool and its reverse mortgage advertising consumer advisory.

Compliance 60

Compliance Report Taxes Examples 60

Accenture

MARCH 23, 2017

I wanted to follow on from my previous blog around the emergence of RegTech (technologies that address the challenge and cost of regulatory compliance.) I wanted to explore how investment trends in this area are impacting the industry and how the ecosystem can work with the regulator. Now—what does RegTech mean? RegTech means… RegTech!

Regulation 150

Regulation Industry Trends Compliance 150

Accenture

MARCH 23, 2017

I wanted to follow on from my previous blog around the emergence of RegTech (technologies that address the challenge and cost of regulatory compliance.) I wanted to explore how investment trends in this area are impacting the industry and how the ecosystem can work with the regulator. Now—what does RegTech mean? RegTech means… RegTech!

Regulation 150

Regulation Industry Trends Compliance 150

PYMNTS

OCTOBER 5, 2018

In the rundown of how individual countries rank, in terms of regulators levying fines on people and corporations, the United States tops the bill. billion. “Activity in Europe was bolstered by more active enforcement by regulators such as the European Commission, Central Bank of Ireland and France’s Autorité des Marchés Financiers.

Regulation 100

Regulation US United States Compliance 100

CFPB Monitor

JUNE 18, 2019

Last week, the FDIC published its Consumer Compliance Supervisory Highlights that provides observations about its consumer compliance supervision activities in 2018. The CFPB has similarly articulated concerns with such arrangements, including in its Bulletin 2015-05.

FDIC 60

FDIC Compliance Regulation Training 60

Abrigo

FEBRUARY 2, 2015

For most consumers who have a checking account, savings account and maybe a mortgage, the regulations placed on their community bank isn’t given a second thought. Two recent surveys addressing the community banking landscape have pointed to increasing regulations as the primary cause of stress for these institutions.

Community Bank 150

Community Bank Community Regulation Survey 150

Insights on Business

JANUARY 23, 2017

Today, banks are dealing with an overwhelming morass of regulations – more than 20,000 new ones in 2015 alone. By the year 2020, there may be 300 million pages of banking regulations. Wouldn’t it be nice if the specific regulations that applied to your business were highlighted? We call it cognitive compliance.

Compliance 70

Compliance Regulation Training Study 70

CFPB Monitor

DECEMBER 4, 2015

The CFPB released the Home Mortgage Disclosure (Regulation C) Small Entity Compliance Guide on December 1, 2015. Attachments at the end of the Compliance Guide include a sample data collection form, action taken chart, and sample notices of HMDA data availability. Wendy Tran and Richard J. Andreano, Jr.

Compliance 60

Compliance Resources Regulation Data 60

PYMNTS

JANUARY 8, 2021

16, Massachusetts securities regulators filed a complaint against Robinhood alleging that the company aggressively marketed to inexperienced investors and failed to implement controls to protect them, violating state laws and regulations. The company has also hired two new compliance officers.

Massachusetts 363

Massachusetts Fintech Millennials Retail 363

PYMNTS

JANUARY 7, 2021

A representative for AmEx told WSJ, “We have robust compliance policies and controls in place, and do not tolerate misconduct.” The representative noted that the company has been “cooperating with a regulatory review of small business card sales between 2015 and 2016” as of the spring of 2020, according to the paper. “We

Cards 242

Cards FDIC Policies Risk Management 242

Bobsguide

SEPTEMBER 27, 2016

The expectation that financial services firms will continue to face more regulation — both volume and complexity — has become the norm for compliance teams. In 2015-16 an average of 200 international regulatory changes and announcements were recorded daily (source: Thomson Reuters.

Compliance 60

Compliance Regulation 60

CFPB Monitor

JUNE 7, 2016

The Federal Trade Commission has provided its annual report to the CFPB covering the FTC’s enforcement activities in 2015 related to compliance with Regulation Z (Truth in Lending), Regulation M (Consumer Leasing), and Regulation E (Electronic Fund Transfers). Reg Z/TILA.

Report 60

Report Regulation Compliance Lending 60

CFPB Monitor

NOVEMBER 5, 2015

In its Fall 2015 Supervisory Highlights , which covers supervision work generally completed between May and August 2015, the CFPB highlights legal violations resolved using non-public supervisory actions involving consumer reporting, debt collection, student loan servicing, and mortgage origination and servicing. Mortgage origination.

Report 60

Report Policies Compliance Regulation 60

CFPB Monitor

FEBRUARY 11, 2016

The FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B. The FTC has authority to enforce the ECOA and Reg B as to nonbank providers within its jurisdiction.

Report 60

Report Policies Lending Compliance 60

CFPB Monitor

MAY 3, 2016

The CFPB has issued a report covering its fair lending activities during 2015. The report states that in 2015, CFPB fair lending supervisory and public enforcement actions required institutions to provide approximately $108 million in remediation. It also notes that in 2015, the CFPB referred 8 matters to the Department of Justice.

Lending 60

Lending Report Compliance Meeting 60

Abrigo

FEBRUARY 9, 2024

billion laundered between 2015 and 2020 through the U.S. real estate between 2015 and 2020, and the actual number is almost certainly higher. You might also like this on-demand webinar, "AML/CFT hot topics for 2024: What to expect for financial crime." real estate market alone. billion through U.S.

Training 195

Training Fraud Trends Report 195

Abrigo

JANUARY 3, 2022

Ensure Compliance. Sound quality control can ensure compliance and prevent money laundering and fraud as banks and credit unions continue to blur the lines between the two areas. Regulators expect financial institutions to maintain a quality control program, even if one is not explicitly mandated, he noted. keep me informed.

Texas 195

Texas Compliance Fraud Training 195

Let's Talk Payments

JUNE 24, 2016

The MIF regulation (full name – “Regulation (EU) 2015/751 on interchange fees for card-based payment transactions”) came into effect at the end of 2015 and is composed of four main.

Regulation 75

Regulation Apple Maine Cards 75

CFPB Monitor

NOVEMBER 24, 2015

The CFPB has issued a compliance bulletin ( Bulletin 2015-06 ) concerning the Electronic Fund Transfer Act (EFTA) and Regulation E requirements for obtaining a consumer’s authorization for preauthorized electronic fund transfers (EFT) and the CFPB’s compliance expectations.

Compliance 60

Compliance Payments Regulation Company 60

PYMNTS

JULY 31, 2019

According to an International Monetary Fund (IMF), the so-called shadow market was responsible for one-third of economic activity from 1991 to 2015, the year that the country was a NATO member and EU candidate. The government has notified businesses that they will be fined if they don’t provide receipts.

Taxes 116

Taxes System Compliance Online 116

PYMNTS

APRIL 10, 2020

To help businesses contend with new procedures and regulations related to the Families First Coronavirus Response Act (FFCRA), GoCo has rolled out a new feature to manage and track COVID-19 paid leave. The creation of the feature stemmed from the law, which took effect on April 1, according to an announcement.

Tools 185

Tools Taxes Texas Policies 185

Abrigo

JULY 10, 2015

Compliance is often a loaded word for bankers. While regulations within the banking industry are, of course, a necessity, the ongoing conversation about striking a balance between mitigating risk and overregulation continues in government, media and financial institutions themselves. Regulators want to know how a bank is complying.

Compliance 150

Compliance Risk Management Regulation Management 150

PYMNTS

DECEMBER 2, 2020

Luxembourg regulators have given a thumbs-up to the FinTech PingPong , authorizing it to do business as an Electronic Money Institution (EMI). PingPong is truly going global, with compliance and security placed at the heart of everything we do,” added Wang.

Fintech 158

Fintech San Francisco New York California 158

PYMNTS

JULY 18, 2017

In parallel, smaller institutions will benefit from industry-agreed standards and best practices in Know Your Customer compliance. SWIFT also offers SWIFT Profile , which launchd in 2015 as a report to help banks identify red flags and potential problem customers. This year, the U.S.

Compliance 101

Compliance Regulation Industry Data 101

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

CFPB Monitor

MAY 12, 2015

In a new compliance bulletin ( Bulletin 2015-02 ), the CFPB “reminds” creditors of their obligation not to discriminate against applicants because their income includes vouchers from the Section 8 Housing Choice Voucher (HCV) Homeownership program.

Compliance 60

Compliance Regulation Policies Training 60

Abrigo

JANUARY 1, 2016

It also includes a provision for the GAO to study the regulations on an annual basis. The GAO report, released on December 30th, examined nine Dodd-Frank rules that became effective as of October 2015 for impact on community banks and credit unions.

Community Bank 150

Community Bank Community Compliance Training 150

PYMNTS

DECEMBER 27, 2019

Urbandoor was started in 2015, and it mostly focuses on corporate travelers and work relocation-related activities. As for Zeus, the company has grown from a team of three people in 2015 to more than 200 employees throughout six cities on both coasts. Compliance is of absolute importance to us,” Taggar said.

Los Angeles 139

Los Angeles San Francisco New York City Trends 139

FICO

MARCH 31, 2016

During this period of Congressional gridlock, much of the activity in Washington DC impacting the financial services industry remains focused on the development and implementation of new regulations. Here’s a very brief overview of what we’ll cover: Stress testing is a key area of emphasis for regulators around the globe.

Compliance 40

Compliance DC Washington Regulation 40

PYMNTS

OCTOBER 17, 2016

AI is being applied to the world of regulation, or “RegTech,” and a new system can monitor the trading behavior of fund managers and even alert compliance bodies if questionable activity is detected. The UK’s Financial Conduct Authority issued a “call for input,” in 2015, and regulators are encouraging innovation.

Regulation 100

Regulation Compliance Meeting Analysis 100

Abrigo

OCTOBER 14, 2022

Takeaway 3 Utilize regulatory guidance to understand regulators' expectations, which are likely to include consistent stress testing. King recommends more staff training on loan modifications and workouts, particularly for banking staff that came on board after 2015 and may not have any experience with loan modifications.

Risk Management 195

Risk Management Management Policies Lending 195

Independent Banker

AUGUST 31, 2021

Some lawmakers on Capitol Hill are increasingly interested in diversity and inclusion (D&I) compliance requirements for financial institutions. How does your bank’s diversity and inclusion (D&I) compliance program compare with the regulatory standards for D&I policies and practices? By Mary Thorson-Wright.

Community Bank 91

Community Bank Policies Community Regulation 91

FICO

DECEMBER 15, 2016

When it comes to anti-money laundering (AML) and financial crime, the right strategy, people resources and technology can transform the compliance function into a competitive advantage. This year, as in 2015, I was intrigued to meet compliance professionals from around the globe, talking about the challenges in their markets.

Compliance 40

Compliance Report Meeting Groups 40

CFPB Monitor

NOVEMBER 18, 2021

Earlier this week, the CFPB issued a Request for Information (RFI) regarding an assessment of the significant amendments to the Home Mortgage Disclosure Act rules, known as Regulation C, adopted in October 2015 and subsequently revised in several additional rulemakings (the “HMDA Rule”).

Compliance 78

Compliance Data Lending Operations 78

CFPB Monitor

JUNE 3, 2015

The CFPB will be participating in a “ Debt Collection Dialogue ” to be hosted by the FTC and the New York AG on June 15, 2015 in Buffalo, NY. The program will focus on recent enforcement actions, consumer complaints about debt collection practices, and compliance issues.

Regulation 60

Regulation New York Policies Compliance 60

PYMNTS

DECEMBER 23, 2019

Its omnipresence is altering how members want to interact with their CUs, though regulatory and compliance issues often mean that members cannot reasonably expect the same lightning-fast interactions they might get from banks and FinTech firms. 19 Statistical Release, “Consumer Credit,” recently found that CUs hold $64.4

Data 131

Data Lending Michigan Regulation 131

PYMNTS

JANUARY 5, 2018

challenger bank Aldermore, at which he oversaw its IPO in 2015. Paul’s wealth of experience in planning for growth, resilience, cybersecurity, regulatory compliance, business operations and go-to market strategy will be of great value to BABB’s long-term vision,” said BABB Founder and CEO Rushd Averroes. “We

blockchain 108

blockchain Industry Compliance Marketing Strategies 108