PYMNTS

SEPTEMBER 14, 2018

To challenge the Office of the Comptroller of the Currency (OCC)’s decision to allow online payment companies and lenders to have national bank charters, the top banking regulator in New York is suing the federal government. A bill signed by Governor Andrew M.

New York 173

New York Fintech Lending Regulation 173

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. residential real estate sector but safeguarding our economic and national security.” Know the red flags for money laundering. real estate market alone. billion through U.S.

Training 195

Training Fraud Trends Report 195

Jeff For Banks

NOVEMBER 24, 2019

September 1st, 1999, regulators from the Federal Deposit Insurance Corp, at the behest of the Office of the Comptroller of the Currency, descended on a small coal mining town in Keystone, West Virginia. Clearly, blue-suit regulators stood out. The bank, First National Bank of Keystone, was $1.1 And Church was released in 2015.

National 78

National West Virginia Virginia Pennsylvania 78

CFPB Monitor

AUGUST 13, 2020

The article begins with a discussion of a 1972 report issued by the National Commission on Consumer Finance (NCCF). The NCCF was established by the Consumer Credit Protection Act of 1968) to study consumer credit markets and recommend improvements in consumer credit regulations. A $594 loan required a 103.54

Study 148

Study Survey National Analysis 148

CFPB Monitor

OCTOBER 4, 2022

The key allegations in the DOJ’s complaint are the following: During the relevant time period (2015-2021), the Newark, New Jersey-Pennsylvania Metro Division (Newark MD) as delineated in 2015 included Essex, Somerset, Union, Sussex, and Morris counties in New Jersey (Newark Lending Area).

New Jersey 147

New Jersey Lending Community National 147

Abrigo

DECEMBER 4, 2015

Sageworks consultants have hosted and spoken at roughly two dozen regional and national events and industry conferences attended by hundreds of banking and credit union executives, regulators and industry professionals. See upcoming regional and national events hosted or attended by Sageworks here.

North Carolina 150

North Carolina Ohio DC Regional 150

PYMNTS

MARCH 12, 2019

The Australian Securities and Investments Commission (ASIC) is criticizing top Australian banks for what the regulator said is an inefficient process of reviewing internal systems that allowed the banks to charge excess fees to customers. The Royal Commission has referred two dozen cases for regulators, which could result in prosecution.

Regulation 108

Regulation National Resources Security 108

PYMNTS

DECEMBER 5, 2019

The European Council called for enhancements to AML rules and for the legislation to become national law. Last year it was brought to light that €200 billion ($220 billion) in suspicious payments were made through Danske Bank’s Estonian branch from 2007 to 2015 in the EU’s largest money-laundering scandal to date.

National 131

National Conference Regulation Meeting 131

PYMNTS

JUNE 20, 2018

The FRC issued fines totaling $19 million against PricewaterhouseCoopers (PwC) and KPMG last week, while the regulator also sent KPMG an unprecedented warning that its auditing processes are subpar. The watchdog and the nation’s pensions regulator were “united in their feebleness and timidity,” a U.K.

Regulation 122

Regulation National Report Examples 122

FICO

DECEMBER 13, 2019

The most prominent villain for fintech companies is regulation. And so it’s easy to see why a fintech company — believing fully in the virtue of its mission and faced with a litany of illogical and intractable regulations — might just say "F*ck it, we're doing it anyways." Disruption-friendly regulations. Brand protection.

Regulation 52

Regulation Fintech Lending Branding 52

Perficient

MARCH 10, 2021

” SNC (pronounced like the candy bar but without the “ers”) stands for the Shared National Credit Program, which, since 1977, has assessed risk in the largest and most complex credits shared by multiple regulated financial institutions. Loan reviews are completed in the first and third calendar quarters each year.

National 309

National Regulation FDIC Retail 309

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. Analysis in 2015 from the National Consumer Law Center (NCLC) found that employees in Missouri and Kansas were hit hardest by payroll card fees imposed by issuers.

Cards 167

Cards Missouri Kansas Pennsylvania 167

PYMNTS

DECEMBER 9, 2019

The court further said that the people of South Korea want to see Samsung “become the world’s best company and contribute to the national economy.” . “The methods for concealment, which are difficult for an average person to imagine, also shocked society.”. If it is growth backed by foul play and cheating, it will not be endorsed.”.

Samsung 131

Samsung Fraud National Regulation 131

PYMNTS

OCTOBER 1, 2018

A top infrastructure lender in India is now being questioned by regulators over its $12.6 According to regulators, the financier’s existing debt struggles may pose a risk to other non-bank lenders as it gears up to manage $500 million in repayment obligations in the coming six months.

Marketing 108

Marketing Regulation Leadership Groups 108

PYMNTS

JANUARY 3, 2017

Bitcoin has been rising steadily upward since about August 2015 from a low of just over $220. Populations in India and Venezuela have both seen increased interest in cryptocurrency during their respective currency regulation and inflation issues. billion, and in January 2015, it was at $3.5 Gox collapsed.

Bitcoin 126

Bitcoin ATM cryptocurrency United States 126

PYMNTS

MAY 19, 2017

Even as some countries move away from physical currency in favor of more modern payment methods, demand in larger nations means the Asia-Pacific region is still clinging to cash. trillion in cash payments in 2015. trillion in cash in 2015. trillion in cash in 2020, marking a 7.5 percent compound annual growth rate.

Report 136

Report Regional Analysis Payments 136

Abrigo

APRIL 23, 2015

OCC guidance on Community Bank Supervision states all national banks must receive a full-scope, on-site exam at least annually. A similar bill, commonly referred to as the Small Bank Exam Cycle Reform Act of 2015 , was introduced by Rep. Bankers and credit union professionals can take the 2015 Bank and Credit Union Exam Survey here.

Community Bank 150

Community Bank Community Survey FDIC 150

PYMNTS

APRIL 30, 2019

Danske Bank admitted that 200 billion euros went through its Estonian branch between 2007 and 2015, and the document shows that Russian Central Bank employees warned about money laundering risks and tax evasion schemes. Sven Giegold, an EU lawmaker, said that legal actions against Denmark and Estonia should be initiated.

Virgin Islands 129

Virgin Islands Taxes National Regulation 129

PYMNTS

AUGUST 15, 2018

MIR, the payment system the Central Bank of Russia created in 2015, is accepted by Russian companies but is also gaining acceptance among international companies that have operations in the country, noted RT. The initiative eventually hopes to join banks and government agencies that collaborate on contract registration and regulation.

System 101

System blockchain Cards ATM 101

PYMNTS

JULY 10, 2018

In addition, while the new regulations require states to set up centralized bank account registers to make work easier for security forces, these units are seen as weak and rarely cooperate with one another, making it easier for criminals to get away with money laundering activity.

cryptocurrency 103

cryptocurrency Bitcoin Regulation National 103

PYMNTS

MARCH 29, 2017

Currently, Uber is waiting on a court decision to find out how it will be regulated throughout Europe: as a transport service or a digital platform. The ruling would determine if Uber is a transport service, meaning it would have to follow the same labor and safety regulations as traditional taxi services.

Regulation 100

Regulation Maine Operations National 100

PYMNTS

MARCH 19, 2018

According to a report in Reuters citing statements issued on the National Development and Reform Commission’s website Friday (March 16), those that were found to be guilty of engaging in financial wrongdoings — including employers who don’t pay social insurance or people who ignored fines — could also face the restrictions on travel.

Big Data 117

Big Data System Regulation Lending 117

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

PYMNTS

JUNE 21, 2016

Chamber of Commerce uncovered the challenge businesses face in the wake of financial reforms and regulations, like Dodd-Frank. Its survey, the chamber said, suggests that the nation must heighten its capabilities of providing finance to its businesses, especially those struggling on account of regulation. What Regulation Does.

Survey 101

Survey Regulation Compliance National 101

Abrigo

JULY 29, 2015

The rise of online lenders paired with low interest rates nationally has left some financial institutions hungry to bring in new loan customers. One NCUA-regulated credit union noted how important it is to instill a solid credit risk culture during the entire loan process. Documentation was also noted as a primary reason for criticism.

Survey 150

Survey Regulation Policies Risk Management 150

CFPB Monitor

NOVEMBER 3, 2022

Department of Education recently announced final regulations , effective July 1, 2023, designed to expand and improve the major student loan discharge programs authorized by the Higher Education Act. We commented on the Department’s proposed regulations when they were issued last summer.

Study 78

Study Regulation Policies United States 78

Abrigo

AUGUST 26, 2015

This is the sentiment of several high-profile executives regarding the National Credit Union Administration’s (NCUA) stance on examination cycles for credit unions. There’s been much back and forth over the last week on this subject and the NCUA’s desire to stick to a 12-month examination cycle for the financial institutions it regulates.

Survey 150

Survey Community National Community Bank 150

PYMNTS

JULY 27, 2016

More small business owners this year also expect to hire new staff compared with 2015, and more small business owners also expect to invest in operational technology. In 2016, small business owners are less likely to report profitability decline over the last year, compared to the data found in the 2015 report. on a national scale.

National 100

National Resources Survey Report 100

PYMNTS

AUGUST 27, 2019

The nation’s Australian Taxation Office (ATO) warned Monday (Aug. For the 2015-16 tax year, the ATO said the small business tax gap stood at 12.5 percent, marking what reports said is the first time tax regulators have calculated that tax gap. reported Monday (Aug. 26) that there is an $11.1

Taxes 100

Taxes Report National Strategy 100

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

PYMNTS

FEBRUARY 28, 2019

Co-founder and CEO Pravin Agarwala of BetterPlace asserted that more than 60,000 workers have been onboarded since its 2015 launch, and more than 1,000 large employers are using the service. A job marketplace platform in India is looking to connect trained trade workers with employers. To read the Case Study, download the Playbook.

Payments 183

Payments User Experience Training Case Study 183

PYMNTS

JULY 17, 2018

Last year reports in the National Law Review said the New York State Industrial Board of Appeals ruled against the New York State Department of Labor, arguing that the NYSDOL’s payroll card regulations imposed in 2016 were “invalid” and overstepped the department authority.

Cards 100

Cards Georgia Alabama New York 100

Abrigo

JULY 9, 2015

On June 30th, the OCC released its Semiannual Risk Perspective for Spring 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.

Maine 150

Maine Policies Survey Lending 150

PYMNTS

JUNE 6, 2016

Friday (June 3) saw the FTC issue an official comment to a request from the Department of Commerce’s National Telecommunications and Information Administration (NTIA) in response to the latter agency’s call for interdepartmental conversation on the potential benefits and drawbacks of governmental guidance for the growing IoT space.

Data 100

Data Security National Regulation 100

Abrigo

JULY 10, 2015

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, American Banker notes, are the CROs biggest fans, and are in near constant communication.

Compliance 150

Compliance Risk Management Regulation Management 150

Abrigo

DECEMBER 20, 2021

If your CDD program is not intact, now is the time to tighten things up and watch for new regulations. and CDD will be top of regulators' minds for some time. The dates cited are between 2015 and 2019. You must have adequate human and technical resources to implement a sound AML program properly. The world is watching the U.S.,

Resources 195

Resources Texas Analysis System 195

Abrigo

MAY 8, 2015

There are more than 6,000 banks and thrifts under $10 billion in assets and they are often less equipped to deal with complexities brought by additional regulations. He commented that regulations are likely to generate at least somewhat of a burden, but many provide public benefits that offset any burden imposed on community banks.

Community Bank 150

Community Bank Community How To Meeting 150