PYMNTS

SEPTEMBER 30, 2019

eCommerce sales tax laws are having unintended consequences in the tobacco industry. State governments began rolling out economic nexus laws after 2018’s South Dakota vs. Wayfair ruling. percent tax on each imported premium cigar, limited to a maximum of about $0.40 in 2017 had a 52.75

Retail 109

Retail Taxes Virginia South Dakota 109

PYMNTS

DECEMBER 28, 2018

It has been a busy year for the world of bank regulations, particularly Know Your Customer (KYC). Financial services regulations are notorious for their complexity and ever-changing demands for financial institutions and corporates, but another fuel for development in the KYC space was the FinTech community.

Compliance 186

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PYMNTS

NOVEMBER 22, 2019

In today’s top payments news, ongoing security concerns have caused the Federal Reserve to take a closer look at the Big Tech firms that serve the banking industry. Security Concerns Prompt Fed To Strengthen Big Tech Oversight. Politicians, as well as privacy advocates, have asked regulators to block the deal. And Former U.S.

South Dakota 101

South Dakota Apple Taxes Cards 101

PYMNTS

AUGUST 2, 2019

Launched in 2018, the project monitors products sent via several steps to the customer, including product returns, to prevent counterfeit drives from being sent back. In other news, Brazil’s Tax Authority has announced that transactions involving cryptocurrencies must now be reported to the Department of Federal Revenue ( RFB ).

blockchain 148

blockchain Fraud Data Report 148

PYMNTS

MARCH 6, 2019

” Accounting strategies can not only boost transparency for regulators and visibility for a firm’s own leadership, but regulators say they can also promote security. ’s 9,000 publicly listed companies spiked in 2018 after consistent declines since 2006. Last October, the U.S.

Report 139

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PYMNTS

OCTOBER 18, 2019

A document titled “Central Bank Money: The Next Generation,” part of a two-year research project, was reportedly presented to the current Bank of Canada Governor Stephen Poloz in 2018.

cryptocurrency 102

cryptocurrency Taxes Compliance Regulation 102

PYMNTS

DECEMBER 20, 2017

Securities and Exchange Commission (SEC) has suspended trading for The Crypto Company shares until Jan. 3, 2018, following “potentially manipulative transactions” last month. According to Reuters, the regulatory body has decided not to regulate the trade of virtual currencies. According to Tuesday (Dec.

Bitcoin 101

Bitcoin Company cryptocurrency Regulation 101

PYMNTS

MARCH 5, 2019

tax authority, HM Revenue & Customs (HMRC), conducted a week-long investigation into 50 estate agents suspected of trading without being registered. million over 2017 to 2018. According to Financial Times ( FT ), the U.K.

Compliance 134

Compliance Training Taxes National 134

Abrigo

NOVEMBER 19, 2019

This makes the financial industry, particularly federally insured and regulated financial institutions, cautious when opening their doors to MRB clients, either direct or indirect. The Secure and Fair Enforcement (SAFE) Banking Act of 2019, H.R. BSA Rules and Regulation. THC or less and does not get the user high. get started.

Regulation 150

Regulation United States Industry Training 150

PYMNTS

APRIL 1, 2019

workforce (36 percent) participated in the gig economy during 2018. A December 2018 survey from Connect Solutions found that this kind of remote employment offers perks for both workers and employers. According to a recent report, slightly more than one third of the U.S. That figure is projected to increase to 43 percent by 2020. .

Payments 183

Payments Survey Online Company 183

PYMNTS

JANUARY 31, 2018

It has also been a weight on the price of bitcoin, which has seen its prices struggle in early 2018 after explosive growth capping off 2017. There is no intention to ban or suppress the cryptocurrency (markets),” Kim said, adding the government’s immediate task is to regulate exchanges.

cryptocurrency 120

cryptocurrency Bitcoin Regulation Taxes 120

Abrigo

NOVEMBER 19, 2019

This makes the financial industry, particularly federally insured and regulated financial institutions, cautious when opening their doors to MRB clients, either direct or indirect. The Secure and Fair Enforcement (SAFE) Banking Act of 2019, H.R. BSA Rules and Regulation. THC or less and does not get the user high. we can help.

Regulation 150

Regulation United States Industry Training 150

Abrigo

SEPTEMBER 12, 2019

With the passing of the Agriculture Improvement Act of 2018 (2018 Farm Bill) many manufacturers, retailers, and financial institutions believe CBD products are now fully legal at the federal level. In immediate response to the passing of the 2018 Farm Bill, then FDA Commissioner Scott Gottlieb, M.D.

Retail 150

Retail Policies Regulation Compliance 150

Abrigo

SEPTEMBER 10, 2021

BSA was intended to detect illicit activity through cash and monetary instruments to catch tax evaders using secret foreign bank accounts. Regulatory scrutiny became ever-present, knowing that the security of their homeland was at stake. BSA Rules and Regulation. BSA Rules and Regulation. Learn More. Learn More.

Training 195

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PYMNTS

AUGUST 9, 2019

As the price of bitcoin surged this week, cryptocurrency (namely, Facebook’s Libra) has been under increased scrutiny by regulators. Even if exchanges are done electronically, they are monitored and regulated by central banks. The folks who bought their bitcoin at around $4,000 are feeling pretty smart. division of the firm.

Bitcoin 143

Bitcoin Regulation cryptocurrency Taxes 143

PYMNTS

JANUARY 22, 2020

As for the mechanics: An “account aggregator” system is being created by banks, and will be regulated and licensed by the central bank. The financial companies are also required to have “robust” IT systems in place (which includes IT security, too). The aggregators have duties as fiduciaries to manage consent. The Roadmap.

Data 141

Data Payments Regulation System 141

PYMNTS

OCTOBER 23, 2019

“If I appear to be anti-Facebook, I was anti-cryptocurrency back when you were anti-cryptocurrency,” he said to Zuckerberg, seemingly alluding to the advertising ban that took effect in January 2018, and was rolled back earlier this year. Some representatives expressed concerns over data management and security. The Crime Factor.

cryptocurrency 100

cryptocurrency Payments Regulation Taxes 100

PYMNTS

OCTOBER 23, 2019

“If I appear to be anti-Facebook, I was anti-cryptocurrency back when you were anti-cryptocurrency,” he said to Zuckerberg, seemingly alluding to the advertising ban that took effect in January 2018, and was rolled back earlier this year. Some representatives expressed concerns over data management and security. The Crime Factor.

cryptocurrency 100

cryptocurrency Regulation Taxes Data 100

PYMNTS

MAY 9, 2017

To be sure, the directive, which allows banking customers across the consumer and corporate spectrum to choose third parties to assist with and manage financial activity, does not take effect until January 2018. Among the key debates, he said: strong customer identification and secure communication between the banks and third parties.

Data 135

Data Security social media Innovation 135

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.”. Health care fraud alone is estimated to generate proceeds of approximately $100 billion annually.

United States 78

United States Fraud Regulation Compliance 78

PYMNTS

JANUARY 22, 2020

As for the mechanics: An “account aggregator” system is being created by banks, and will be regulated and licensed by the central bank. The financial companies are also required to have “robust” IT systems in place (which includes IT security, too). The aggregators have duties as fiduciaries to manage consent. The Roadmap.

Data 132

Data Regulation System Taxes 132

Abrigo

DECEMBER 20, 2021

Millions of dollars in suspicious activity were not reported to FinCEN in a timely or accurate manner, including those connected to tax evasion, illegal gambling, money laundering, and other financial crimes. . The AML Act of 2020 will more than likely overhaul the 2018 CDD rule with stricter beneficial ownership requirements.

Resources 195

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PYMNTS

FEBRUARY 21, 2018

It’s surprisingly common for the information settlement mechanism like SWIFT to be on a separate ledger from the payment settlement mechanism, which is the system more likely to be scrutinized by the bank’s internal controls, as well as the various audits, including inspection by regulators.”. “In On the federal level, the U.S.

blockchain 130

blockchain Los Angeles Regulation Oregon 130

PYMNTS

NOVEMBER 7, 2019

Consumers around the world log in to eBay with their Facebook profiles, purchase lunches with Apple Pay and in some cases pay their taxes or register to vote with government-provided digital identities. Digital identities are flexibly changing forms as they gain ubiquity. First inquiries revolve around personal privacy.

System 131

System Guidelines National Online 131

PYMNTS

MARCH 14, 2017

With the possible exception of a social security number, a credit score is really one of the more impactful set of digits in a consumer’s life. The state-based settlements also meant all three agencies will have to remove medical debt collections that have been paid by a patient’s insurance company from credit reports by 2018.

Taxes 100

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PYMNTS

APRIL 30, 2018

In this world, the only things certain are death and taxes. According to a Crunchbase article published in February of 2018, investments in blockchain and blockchain-related startups (excluding initial coin offerings, or ICOs) were already 40 percent of what they were in 2017. billion in 2018 growing to $1.1 Benjamin Franklin.

Fintech 183

Fintech blockchain Lending Digital Banking 183

FICO

JANUARY 18, 2019

Despite advances in customer due diligence, including the addition of advanced analytics to compliance officers’ toolkits, the scandals of 2018 confirmed that many banks are struggling to bring their operations up to regulators’ standards, to say nothing of best practices.

Compliance 40

Compliance Regulation Taxes Analytics 40

PYMNTS

MARCH 18, 2019

The regulator notified NACHA that they need more time to evaluate required changes to their system before giving it the green light. It’s been reported that TCH had 36 banks on board RTP at the end of 2018, and expects that number to reach 1,000 by the end of Q1 2019 – about two weeks from today. This delay was initiated by the Fed.

Payments 201

Payments Cards Operations System 201

PYMNTS

NOVEMBER 7, 2019

Brazil’s potential customer base tempts global subscription service providers, as the South American country boasts a population of 200 million and had 132 million people with internet connections in 2018. percent tax on foreign merchant transactions by using local payment methods.

Online 100

Online Payments Cards Fraud 100

CB Insights

DECEMBER 15, 2020

These companies differentiate themselves from traditional human advisors with lower fees, 24-hour automated support, portfolio rebalancing, and tax optimization, which can translate to higher returns for investors in the long run. Total wealth management deals were up 31% from 2018, according to PwC. Source: Bloomberg.

Management 87

Management Fintech Industry Trends 87

Jeff For Banks

NOVEMBER 1, 2017

Actually, the forecast for 2018 to 2020 is also 2%. They have seemed fairly nervous about their large balance sheet, so in September, 2017, they announced that they would allow bonds to mature or pay off in October- by $4 billion in Agency mortgage backed securities and $6 billion in Treasuries, for a total of $10 billion.

Marketing 60

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PYMNTS

JANUARY 31, 2020

As an ex-PayPal-er herself, Mielke noted that she is happy for PayPal — as having a partner like UnionPay paired with the payments license it managed to secure with the GoPay acquisition late last year are an incredibly powerful combination. That may not sound like a lot, but that is almost double from 2018.

Bitcoin 100

Bitcoin Payments Los Angeles blockchain 100

CB Insights

FEBRUARY 13, 2020

These APIs handle everything from acceptance and processing to settlement and reconciliation, while ensuring compliance and security. This process also comes with hurdles like regulations, fees, compliance standards, and payment card issuers — all of which become increasingly complex for international transactions.

Online 98

Online Company Retail Payments 98

CB Insights

OCTOBER 26, 2020

This regulation reduced trading profits and created a need to cut costs, spurring investment banks to spin off unprofitable divisions or eliminate them entirely. And across equity research and sales & trading, poor performances and new regulations have led to widespread layoffs as banks have figured out they can do more with less.

Management 78

Management Capital Company Marketing 78

CB Insights

OCTOBER 10, 2018

Startups targeting retail and commercial banking have been emerging globally, spurred by favorable tech regulations, an uptick in mobile adoption, and shifting customer demographics. of monthly spend across 28 countries in Europe as of September 2018. valuation and crossed 1M accounts in September 2018. in funding and over 5.5M

Retail 78

Retail Cards Millennials Mobile 78

Jeff For Banks

JULY 8, 2017

I believe that we are in this era of weak growth, now eight years old, for the long haul unless changes are made to regulation and we stop adding debt at break-neck speed. trillion in Agency mortgage backed securities. Incidentally, Chair Janet Yellen’s term at the Fed expires in February, 2018. I do not take this lightly.

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Marketing Community Bank Security Data 60

PYMNTS

APRIL 16, 2018

And not because everyone who touches the consumer shouldn’t consider data privacy and security part of the deal they must have with their consumers if they want those consumers — their crown jewels — to keep coming back. Those searches are prompted by a consumer’s interest in discovering the answer to something: When are federal taxes due?

Google 121

Google Data social media Branding 121