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. Fines against companies were up two percent between 2016 to 2017 and over that same period were up 23 percent against individuals. million euros in 2016 to 2.9 billion.

Regulation 100

Regulation US United States Compliance 100

PYMNTS

DECEMBER 26, 2018

Wall Street firm, was fined $10 million by the Financial Industry Regulatory Authority (FINRA) for compliance failures. According to a report in Reuters , citing FINRA and Morgan Stanley, the firm agreed to pay $10 million after FINRA contended it had lapses in compliance for more than five years from January of 2001 until April of 2016.

Compliance 134

Compliance System Policies Industry 134

CFPB Monitor

FEBRUARY 21, 2022

The CFPB has issued a compliance bulletin “to reiterate that the compulsory use prohibition in the [Electronic Fund Transfer Act (EFTA)] applies to government benefit accounts, as defined in Regulation E.”. Limited liability for unauthorized transfers and error resolution.

Compliance 78

Compliance Regulation Payments Cards 78

PYMNTS

AUGUST 29, 2017

federal and state laws require financial institutions to set policies and procedures to detect and prevent illicit money transfers, including screening customers and reporting suspicious transactions to regulators. It was not revealed what those breakdowns were. The Pakistan bank said it will “vigorously contest” the fine in U.S.

New York 102

New York Regulation Compliance United States 102

PYMNTS

AUGUST 17, 2018

The more bots make their way into the accounting department, the more concerns arise about jobs, compliance, trust and other industry-unknowns. Working with regulators will be a “necessary step to building the technology in the way we want to develop and deploy it,” he said. . ”

Compliance 110

Compliance Regulation Tools Industry 110

PYMNTS

JANUARY 24, 2021

One facet of helping with compliance is the automatic recording of journal entries. India uses its Invoice Registration Portal to track business activity and ensure compliance with tax laws. At least at first, the regulations place requirements only on larger companies.

Taxes 178

Taxes Compliance Software Fraud 178

American Banker

FEBRUARY 15, 2024

Wells Fargo clears another hurdle as OCC terminates 2016 order

Compliance 76

Compliance Regulation 76

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

PYMNTS

SEPTEMBER 29, 2020

29) announced a deal for the AML platform of Beam Solutions , a San Francisco-based startup that focuses on transaction monitoring and helping financial companies comply with KYC regulations. Another key component of the platform is helping companies manage various KYC and AML regulations in different jurisdictions across the world.

San Francisco 153

San Francisco Compliance Regulation cryptocurrency 153

CFPB Monitor

MARCH 30, 2017

On March 24, the CFPB announced a proposal to amend Regulation B requirements related to the collection of consumer ethnicity and race information, in order to resolve the differences between Regulation B and revised Regulation C.

Regulation 60

Regulation Compliance Data Report 60

CFPB Monitor

MARCH 30, 2017

On March 24, the CFPB announced a proposal to amend Regulation B requirements related to the collection of consumer ethnicity and race information, in order to resolve the differences between Regulation B and revised Regulation C. Pavitra Bacon.

Regulation 60

Regulation Compliance Data Report 60

PYMNTS

MARCH 18, 2019

As such, the regulators and FIs seeking to crack down on these activities have their work cut out for them. . Worldwide, banks paid out approximately $321 billion between 2009 and 2016, for example, because they failed to comply with money laundering, terrorist financing and other regulations. .

Compliance 181

Compliance Regulation Chicago Tools 181

CFPB Monitor

FEBRUARY 13, 2017

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. In January 2016, the FTC issued a report warning that certain uses of big data consisting of consumer information may implicate various federal consumer protection laws.

Report 68

Report Big Data Lending Survey 68

PYMNTS

DECEMBER 27, 2016

PYMNTS consulted 21 payments executives from across the industry to share their insights on the biggest takeaways from 2016 as part of the “Payments 2016, The Year Of…” eBook. Payments 2016: The Year Of The Emergence Of The Global Citizen. 2016 saw more people transacting across borders in larger sums than ever before.

Payments 113

Payments eBook Regional Study 113

PYMNTS

MARCH 18, 2016

” Innovation Project 2016 — where hundreds of leaders across the payments, commerce, tech and security ecosystems joined together under one roof with one mission: navigating the balance between the leading and the bleeding edge. “If you don’t disrupt yourself, someone else will.” So, how did Day 2 end up?

Innovation 100

Innovation Security Industry blockchain 100

Abrigo

FEBRUARY 11, 2022

Earlier this month, the FASB considered and rejected further deferral of the CECL standard, initially issued in 2016 in response to the 2008 global financial crisis. Financial institutions that waited to begin adapting to the new regulations may find the thought of eleven months until compliance intimidating. CECL Regulation.

Resources 195

Resources Regulation Community Bank Community 195

PYMNTS

FEBRUARY 24, 2020

The country’s government and regulators are keeping pace with those in the European Union and the U.S. Foreign firms and regulators tend to think of Chinese laws as either too strict, wide-reaching or lax — perceptions that have failed to keep up with local regulations’ developments. “In he remarked. “I

Regulation 160

Regulation Policies Data Compliance 160

CFPB Monitor

JULY 6, 2016

In its Summer 2016 Supervisory Highlights , which covers supervision work generally completed between January and April 2016, the CFPB highlights violations found by its examiners involving automobile origination, debt collection, mortgage origination, small-dollar lending, and fair lending. million to more than 257,000 consumers.

Lending 68

Lending Regulation Compliance System 68

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

PYMNTS

JULY 17, 2019

The second Payment Services Directive ( PSD2 ) groundwork laid out in 2016 is about to come to fruition in a few months – Sept. PSPs (payment service providers) and issuers are up-to-date on the regulations tied to SCA, because they are the ones ultimately on the hook if they are not compliant. 14, 2019, to be exact. For example, U.K.-based

Retail 162

Retail User Experience Compliance Regulation 162

CFPB Monitor

DECEMBER 17, 2015

The CFPB’s Deputy Assistant Director for origination recently warned mortgage lenders of the four main examination priorities for 2016—loan originator compensation plans, the ability-to-repay rule, the TILA-RESPA Integrated Disclosures (TRID) rule , and marketing service agreements. Matthew Smith and Richard J. Andreano, Jr.

Compliance 60

Compliance Regulation Training California 60

Bank Innovation

MARCH 10, 2016

Is there a way to prevent regulators from derailing a bank’s fintech initiatives? Jill Castilla, president and CEO of Citizens Bank of Edmond, located in Edmond, Okla., says there is.

Regulation 150

Regulation Fintech Community Strategy 150

Celent Banking

OCTOBER 17, 2016

This year’s Sibos theme was “Transforming the Landscape”, organized around four themes: Banking, Compliance, Culture, and Securities. A selection of Sibos session recordings is available on the Sibos website. With my research focus of Corporate Banking, my discussions focused on three key topics.

blockchain 100

blockchain Conference Compliance Technology 100

PYMNTS

NOVEMBER 6, 2019

Bank of America has teamed with IBM and its regulatory compliance arm, Promontory Financial Group, to create a cloud computing platform that has privacy, security and regulatory banking compliance protocols built in, according to a report by American Banker.

Compliance 101

Compliance Groups America Security 101

CFPB Monitor

MAY 2, 2022

MoneyGram) in which they allege that MoneyGram violated the Remittance Transfer Rule (Remittance Rule), other provisions of Regulation E, the CFPA, and New York Executive Law. He indicated that the CFPB is “deepening [its] law enforcement cooperation with state attorneys general and state financial regulators.”

New York 78

New York Compliance Regulation Policies 78

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

FEBRUARY 10, 2022

Since 2016, three serious document leaks have made international news and exposed the activity of powerful political elites or wealthy individuals who used shell companies to disguise the source of funds and avoid taxes. BSA Rules and Regulation. AML Compliance and Sanctions Requirements for Non-Bank Financial Institutions.

Training 195

Training Regulation Report Compliance 195

CFPB Monitor

MARCH 16, 2021

Under the leadership of Acting CFPB Director Dave Uejio, the Bureau issued an interpretive rule on March 9, 2021 clarifying that the prohibition against sex discrimination under the Equal Credit Opportunity Act (“ECOA”) and Regulation B includes sexual orientation and gender identity discrimination.

Regulation 78

Regulation District of Columbia Georgia Policies 78

CFPB Monitor

NOVEMBER 7, 2016

In its Fall 2016 Supervisory Highlights , which covers supervision work generally completed between May and August 2016, the CFPB highlights violations found by its examiners involving origination and servicing of auto financing, debt collection, mortgage origination and servicing, student loan servicing, and fair lending.

Lending 83

Lending Report Regulation Policies 83

Bank Innovation

SEPTEMBER 14, 2017

banking regulator, the Office of the Comptroller of the Currency, is still in the “exploratory” phase with its new fintech charters. The office’s fintech charters were introduced in 2016, and sparked controversy within financial […].

Fintech 170

Fintech New York Conference Regulation 170

PYMNTS

SEPTEMBER 17, 2018

The regulator doesn’t have the power to slap Credit Suisse with fines, noted the report. FINMA said the manager violated the bank’s compliance regulations several times over the past few years. FINMA, according to the report, has been looking at banks in relation to the corruption at FIFA , Petrobras and PDVSA.

Georgia 143

Georgia Regulation Maine Policies 143

PYMNTS

DECEMBER 26, 2018

The Securities and Exchange Commission and various state regulators have been investigating more than 90 cryptocurrency cases in which investors lost money. Morgan Stanley Fined By FINRA For Compliance Lapses. India Targets eCommerce Sites With New Rules.

Compliance 108

Compliance cryptocurrency Regulation Security 108

PYMNTS

MAY 1, 2020

We will continue working with MRC on accreditation, as we have since 2016.”. The WSJ said the audit process started in 2016, when Facebook acknowledged it has overstated its video viewing statistics for more than two years, the report said. Facebook expressed disappointment to WSJ that the letter was made public.

social media 233

social media Video New York California 233

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

Abrigo

JANUARY 1, 2016

It also includes a provision for the GAO to study the regulations on an annual basis. Those interviewed cited an increase in compliance burdens , which includes “increases in staff, training and time allocation for regulatory compliance and updates to compliance systems.”

Community Bank 150

Community Bank Community Compliance Training 150

FICO

JUNE 30, 2016

Aggregation and effective use of this data are becoming key to meeting new compliance challenges, not to mention an opportunity to derive additional business value. The final CECL standard was issued on June 17, 2016. If done successfully, this can lead to more than just a compliance win but also a lift to your overall business.

Compliance 45

Compliance Management Data Risk Management 45

PYMNTS

MARCH 6, 2017

China’s Forex regulator wants the nation to open up its domestic market, reports said Friday (Mar. An article in a publication owned by the regulator called for a more open, competitive domestic foreign exchange (FX) market that enables a flexible FX rate mechanism to mitigate against cross-border capital fluctuation, according to reports.

Marketing 100

Marketing Regulation Capital Compliance 100