Abrigo

MARCH 7, 2022

Experts weigh in on regulatory hot topics for 2022 Review these 10 insights into what regulators are looking for in 2022 to help your financial institution pass exams with flying colors. Takeaway 1 Regulators have increased their focus on BSA in the first quarter of 2022, and the crisis in Ukraine will put OFAC in the spotlight.

cryptocurrency 195

cryptocurrency Regulation Fraud Policies 195

Insights on Business

MARCH 5, 2019

Reducing costs but appeasing regulators seems like an oxymoron, yet, many AML compliance and operations leaders are being asked to do just that. The question is, how to do this, while keeping the regulators happy? Even better, regulators have recently begun encouraging the application of these techniques.

Regulation 70

Regulation Compliance Analysis Innovation 70

Abrigo

FEBRUARY 27, 2020

Our Transparent AI is easy to explain to regulators. . The Financial Crimes Enforcement Network (FinCEN), along with the Federal Banking Agencies, released a joint statement in December 2018 emphasizing financial institutions’ need to embrace technology to strengthen their BSA/AML programs. Be at the forefront of innovation in BSA/AML.

Innovation 195

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PYMNTS

MARCH 4, 2020

The bank also inadequately staffed the BSA compliance function. . “Mr. LaFontaine was warned by his subordinates and by regulators that capping the number of alerts was dangerous and ill-advised. In February 2018, FinCEN collaborated with the Office of the Comptroller of the Currency (OCC) and the U.S. The OCC also warned U.S.

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PYMNTS

JULY 21, 2020

Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. Regulators in other regions, including Latin America, are also shaping and announcing plans to enable open banking and better support digital financial systems.

Mobile 229

Mobile Report America Regulation 229

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

MARCH 24, 2021

Anti-Money Laundering Act of 2020 BSA professionals should prepare for changes as new regulations and guidance from FinCEN unfold. Takeaway 2 While the AMLA is now law, regulations, guidance, and other information still needs to be written. These include conducting studies, writing regulations, and publishing guidance.

Regulation 195

Regulation Training Study Policies 195

Abrigo

SEPTEMBER 10, 2021

The role of BSA staff was typical compliance and very task-oriented. BSA continued to evolve into an even more significant endeavor with the 2018 passing of the customer due diligence final rule and beneficial ownership requirements. BSA Rules and Regulation. BSA Rules and Regulation. Learn More. Learn More. BSA Training.

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Training Risk Management Pennsylvania Resources 195

Abrigo

DECEMBER 20, 2021

Inadequate staffing: The lack of technological and human resources will result in deficiencies in an AML program. Community financial institutions must take note and evaluate their AML program and correct any deficiencies. Inadequate staffing will not be tolerated, and regulators will not care about your budgetary constraints.

Resources 195

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PYMNTS

DECEMBER 14, 2018

News came earlier in the month that several federal agencies have come out — together — in support of banks embracing innovation in their compliance efforts. It all comes, at least on the surface, as a message of support that also comes at a time when chief compliance officers may be a bit trepidatious.

Compliance 148

Compliance Innovation FDIC Examples 148

PYMNTS

SEPTEMBER 3, 2019

Merchants working to expand and sell online in more markets must comply with each market’s local sales tax regulations, however, and that is an increasingly complicated task. Even SMBs in states that do offer tax exemptions may still face new compliance requirements, such as obligations to notify and report sales to residents.

Taxes 133

Taxes South Dakota Online Report 133

PYMNTS

FEBRUARY 7, 2019

GDPR , which came into effect in May of 2018, offers some roadmap for PSD2, as companies grapple with data protection, storage and sharing. firms surveyed stated that non-compliance with GDPR could affect their reputations. Consider some stats from that January PSD2 Tracker report: 56 percent of U.K.

Guidelines 190

Guidelines Data Compliance Regulation 190

CFPB Monitor

JULY 6, 2021

The Priorities have been much-anticipated because, under the AML Act, regulators will review and examine financial institutions in part according to how their AML/CFT compliance programs incorporate and further the Priorities, “as appropriate.”. A prime example of this problem is the inclusion of “fraud” as a Priority.

United States 78

United States Fraud Regulation Compliance 78

PYMNTS

JANUARY 29, 2020

A significant number of firms — notably small- to medium-sized businesses (SMBs) — still use such systems, as 25 percent of smaller firms stated in 2018 that their payroll involved pen-and-paper methods. SMBs need to remain compliant with increasingly complex financial regulations. That more-measured approach is not necessary, though.

Taxes 141

Taxes Fraud Tools System 141

PYMNTS

DECEMBER 27, 2019

Diaper retailers used to help customers avoid tax costs by providing their products online to out-of-state consumers, but the practice only helped those with cash flow and internet access, and the 2018 Wayfair ruling has since stopped such reprieves. Managing compliance.

Taxes 146

Taxes Policies Compliance Retail 146

PYMNTS

OCTOBER 29, 2018

As a result of the passage and adoption of open banking regulations, like PSD2 in Europe, banks and other financial firms are sharing data more freely than ever before. Banks, FinTech firms and other financial services firms would be wise to invest more time, effort and resources into open banking security systems.

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Security Fraud Tools Data 192

Abrigo

JUNE 13, 2022

These crimes can result in significant loss of financial resources for the victims and often greatly impact their quality of life. BSA Rules and Regulation. BSA Rules and Regulation. Banking Cannabis – Finding More ROI in Your Compliance Department. BSA Rules and Regulation. Cannabis Banking. Fraud Prevention.

Fraud 195

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Independent Banker

JULY 28, 2016

Establishing a comprehensive Compliance Management System. Does it sound like “reality compliance”? The demands of managing regulatory compliance are uncontested, and depending on the disposition of the participants inside and outside of the bank, compliance management exists with varying degrees of problems and adversity.

Compliance 70

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Abrigo

MAY 31, 2019

While FASB pushed back the effective date for non-public business entities (PBEs) in October 2018, from fiscal years beginning after 12/15/2020 to 12/15/2021, FASB officials so far have indicated the board won’t push back the effective dates any further. Waiting until the effective date nears makes the cost of achieving compliance higher.

Survey 150

Survey Data Resources Regulation 150

Abrigo

APRIL 26, 2022

Kleptocrats steal the public’s wealth for personal gain and use their positions of power and access to state-owned resources for their benefit. In 2004, the infamous Riggs Bank (Riggs) case brought political corruption to the top of compliance officers’ lists of reasons not to sleep at night. BSA Rules and Regulation.

Training 195

Training Regulation System National 195

PYMNTS

AUGUST 20, 2019

In a release, Tipalti said earlier this month that it saw an increase of 250 percent in customer bookings in the first half of 2019 compared to the first half of 2018. Those firms have not had the time, money or resources to fully attend to the complexities of managing AP on a global scale, which presents a challenge. “If

Management 127

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PYMNTS

DECEMBER 30, 2019

Fifty-four countries now have active real-time payment programs, up from 40 countries in 2018. Heavily regulated industries bedevil firms with their multitude of compliance requirements. Still, the need for speed, convenience and safety is universal and the roll out of real-time payments in the U.S. About the Tracker.

Payments 130

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CFPB Monitor

MARCH 25, 2020

On March 23, 2020, the FDIC’s Office of Minority and Women Inclusion (OMWI) announced that it will request 2019 diversity self-assessments from FDIC-regulated financial institutions. The FDIC regulates insured state banks that are not members of the Federal Reserve System and insured state thrifts.

FDIC 60

FDIC Policies Regulation Training 60

Independent Banker

DECEMBER 13, 2015

Community banks face yet another set of regulatory requirements with the recently revised Regulation C reporting rule implementing the Home Mortgage Disclosure Act. 1, 2018, such as borrower age, credit score, property value, loan term, interest rate, and points and fees, among others. Readiness resources. By Joe Gormley.

Community Bank 70

Community Bank Community Resources Regulation 70

CFPB Monitor

AUGUST 21, 2018

The Treasury suggests that federal banking regulators take action to resolve this ambiguity. Other financial regulators should support data aggregation. On September 20, 2018, from 12 p.m. Clarifying applicability of third-party oversight guidance to data aggregators. to 1 p.m.

Data 84

Data Report Regulation Security 84

CB Insights

JUNE 27, 2018

See how venture firms, corporates, regulators, and builders are shaping the future of blockchain technology. The SEC wants to regulate most tokens like securities. ICOs that are securities offerings, we should regulate them like we regulate securities offerings. ” THE FUTURE OF BLOCKCHAIN TECH. End of story.”

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Regulation Bitcoin cryptocurrency blockchain 39

PYMNTS

DECEMBER 6, 2017

The CEO admitted that he was skeptical of the technology at first, especially considering the complexity and inevitable regulation surrounding cryptocurrencies. With innovation coming from many angles, the B2B payments space in 2018 isn’t likely to see a linear path to progress.

Payments 183

Payments blockchain Innovation Fintech 183

Independent Banker

OCTOBER 1, 2022

But as the prevalence of security breaches grows, so do the opportunities for community banks to position themselves as guardians of their customers’ personal data through compliance, technology and relationship building. ICBA has many resources banks can use to enhance their own information security program. By Katie Kuehner-Hebert.

Data 91

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PYMNTS

APRIL 6, 2017

The third phase, which will usher in faster ACH credit funds availability, is on track to occur in March 2018. While these new ACH offerings are promising to quicken the pace of monetary transactions, the changes are also bringing new rules and regulations that directly impact how banks and other financial players operate.

Resources 100

Resources Training Payments Regulation 100

Insights on Business

AUGUST 2, 2018

Data is the new natural resource ,” but is an underutilized resource if you are unable to efficiently access it in a timely manner to produce needed analyses and reporting. By doing so, banks will be able to reap the full benefits of stress testing while satisfying the regulators that progress is being made.

Risk Management 70

Risk Management Data Analytics Resources 70

FICO

JANUARY 13, 2020

In 2018, the DC Circuit Court of Appeals issued a ruling which struck down or vacated, in part, a previous 2015 Declaratory Ruling and Order made by the Federal Communications Commission (FCC). While current FCC leadership has tried to address some of the other issues implicated in the 2018 decision (e.g., by Daniel Nestel.

Policies 52

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PYMNTS

AUGUST 21, 2018

Know Your Customer (KYC) regulations are tightening, but due diligence goes both ways in the buyer-supplier relationship, leading to a rise in Know Your Supplier efforts, too. Both sides must consider Anti-Money Laundering (AML) compliance and other regulatory risks in their business relationships, too.

social media 100

social media Resources Marketing Company 100

FICO

FEBRUARY 23, 2016

For mortgage professionals still recovering from clearing the latest compliance hurdle, it is time to lace up for the next challenge—the Home Mortgage Disclosure Act (HMDA) decathlon. It is clear that the CFPB intends for these new requirements to provide both regulators and the public with greater insights.

Compliance 40

Compliance Lending Data Report 40

Insights on Business

SEPTEMBER 18, 2016

This approach allows banks to solidify their customer relationships – creating a system where banks better understand their entire client base, recognizing each person as an individual, while remaining compliant with the latest regulations with built-in security measures. Services to Offset PSD2 IT Infrastructure Costs. Paving the Road Ahead.

Marketing 70

Marketing Payments Compliance Security 70

Insights on Business

MAY 3, 2018

Today, IBM proudly accepted two distinguished RegTech Awards 2018 for our innovations within IBM Watson Regulatory Compliance: “Best AI Solution for Regulatory Compliance”. With these awards, what is most exciting is the recognition of the value we bring to clients in need of solutions for regulatory compliance and risk.

Compliance 70

Compliance Innovation Regulation System 70

BankUnderground

NOVEMBER 8, 2023

As we find that these welfare differences are primarily driven by distortions in financial markets, we argue that countercyclical macroprudential regulation , even without any green-biased component, can effectively align the welfare performance of these policies and mitigate their short-run costs.

Policies 64

Policies Regulation Taxes Compliance 64

Abrigo

DECEMBER 16, 2019

Regulators, investors, and other stakeholders will be watching and listening for updates on the impacts of the accounting change. said financial institutions must devote the appropriate resources to the CECL process. “We Be willing to change as needed. . Assess data first, then move to methodology.

West Virginia 195

West Virginia Virginia Data Community 195