CFPB Monitor

JULY 9, 2020

The agency would first offer “Payments Charter 1.0”, which he likened to a basic national money-transmitter license. According to Acting Comptroller Brooks, a national payments charter would align with the OCC’s role, which is to create and support national financial services platforms. would add, the initial Payments Charter 1.0

National 78

National Company Payments New York 78

CFPB Monitor

NOVEMBER 22, 2022

As previously reported in February 2019 federal regulators issued a joint final rule (the “Joint Final Rule”) to implement provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 (the “Act”) that require regulated financial institutions to accept private flood insurance policies.

Policies 148

Policies Meeting Exercises Regulation 148

Abrigo

FEBRUARY 24, 2020

The number of institutions banking cannabis grew significantly in 2019. Despite Federal ambiguity, Illinois State Regulators defined their stances on cannabis banking. It would be impossible to talk about cannabis banking in 2020 without mentioning the Secure and Fair Enforcement Banking Act of 2019 (SAFE Act). Key Takeaways.

Illinois 195

Illinois Regulation United States California 195

Abrigo

NOVEMBER 18, 2019

This increase in cash escalates the threat of robberies, assault, and other aggressive crimes both at these businesses and in the surrounding communities. It also allows financial institutions to properly monitor for and report on suspicious activity, ensuring that the CRBs in their communities are legitimate.

Regulation 150

Regulation Community National Operations 150

PYMNTS

JUNE 25, 2019

Regulators should see this as a wake-up call to get serious about the privacy and national security concerns, cybersecurity risks, and trading risks that are posed by cryptocurrencies. “The cryptocurrency market currently lacks a clear regulatory framework to provide strong protections for investors, consumers, and the economy.

cryptocurrency 166

cryptocurrency social media Regulation Meeting 166

PYMNTS

JUNE 18, 2020

The London-based trade group for Europe’s ePayments community is waiting for the European Banking Authority , the European Union (EU) banking regulator, to provide the 27-nation bloc with an update on Strong Customer Authentication (SCA). The implementation delay gives regulators an opportunity to get it right, Rodgers said.

Groups 131

Groups Regulation Fraud Security 131

Abrigo

NOVEMBER 21, 2019

The US is at a disadvantage without a national beneficial ownership registry. . Customer due diligence (CDD) and enhanced due diligence (EDD) have become common phrases in the anti-money laundering community. Is a national beneficial ownership database in the works? BSA Rules and Regulation. BSA Rules and Regulation.

United States 195

United States Regulation National Taxes 195

CFPB Monitor

NOVEMBER 18, 2019

The Subcommittee on Consumer Protection and Financial Institutions of the House Financial Services Committee has scheduled a hearing entitled “ An Examination of Regulators’ Efforts to Preserve and Promote Minority Depository Institutions ” on November 20, 2019. This hearing will focus on the prudential regulators that oversee MDIs.

FDIC 68

FDIC Regulation Resources Community 68

Abrigo

AUGUST 9, 2019

Modernization of the Community Reinvestment Act. Banks and credit unions must learn about these upcoming changes, adjust for them, and meanwhile continue to operate their existing institutions and meet customers’ needs while following all of the regulations that come with being a financial institution. See the entire agenda here.

Management 150

Management Conference Lending Training 150

PYMNTS

OCTOBER 1, 2019

30), Reuters reported , noting that the company is struggling to overcome “collateral damage” resulting from a slowing national economic and a broader “crisis,” the publication said, in India’s lending sector. billion in foreign loans so far in 2019, down from $2 billion during the same timeframe a year prior.

Capital 109

Capital Lending Regulation Operations 109

Abrigo

JULY 1, 2021

By Vanessa Russell, Founder and Executive Director of Love Never Fails According to the National Human Trafficking Hotline , working in the financial industry provides you the opportunity to report suspicious behavior involving 92% of the various types of human trafficking. BSA Rules and Regulation. Let’s keep it going! BSA Training.

Training 370

Training Conference Community Video 370

CFPB Monitor

AUGUST 9, 2019

The Bulletin rescinds and replaces an attachment to OCC Bulletin 1996-11 entitled “Community Reinvestment Act: Guidelines for Requesting Designation as a Wholesale or Limited-Purpose Institution.”

Guidelines 60

Guidelines Community National Regulation 60

Abrigo

JUNE 13, 2022

According to the National Council on Aging (NCOA), this heartless crime is most likely under-reported due to victims' embarrassment. More banks are reporting to APS, rising from 62% in 2017 to 81% in 2019 and 78% in 2021. The latest survey indicates that COVID-19 has impacted bank community engagement. BSA Rules and Regulation.

Fraud 195

Fraud Training United States Survey 195

CFPB Monitor

JULY 8, 2019

Supreme Court’s Inclusive Communities decision and confirms its plans to hold a symposium on disparate impact and the ECOA. The Bureau also references former Acting Director Mulvaney’s statement in May 2018 that the Bureau intended to reexamine the disparate impact doctrine in light of the U.S.

Lending 60

Lending Report Policies Compliance 60

CFPB Monitor

OCTOBER 25, 2019

The CFPB announced today that it will hold a symposium on Dodd-Frank Act Section 1071 on November 6, 2019. In its Spring 2019 rulemaking agenda, the CFPB indicated that it expected to resume Section 1071 pre-rulemaking activities in 2019. John Taylor, President and Founder, National Community Reinvestment Coalition.

Tampa 60

Tampa Lending California Community 60

Abrigo

NOVEMBER 2, 2021

On January 1, 2021, the Senate voted into law the National Defense Authorization Act (NDAA). The AMLA is extensive, and there are many steps involved before FinCEN can implement the act, such as conducting studies, writing regulations, and publishing guidance. See Part I: Implications for Community Financial Institutions.

Compliance 195

Compliance Regulation Resources Policies 195

CFPB Monitor

JULY 24, 2019

In April 2011, the CFPB issued guidance indicating that it would not enforce Section 1071 until it issued implementing regulations. In its Spring 2019 rulemaking agenda, the CFPB indicated that it expects to resume Section 1071 pre-rulemaking activities in 2019. The CFPB’s answer asserts two affirmative defenses.

California 60

California Regulation Community National 60

Abrigo

JULY 23, 2021

The regulations are forthcoming, but institutions now should begin the process of performing a threat-focused risk assessment which will guide them where to focus their efforts. It is a concept that we have all heard of, however, the concept remains somewhat of a mystery in the community bank world.

National 195

National Training United States Regulation 195

Abrigo

DECEMBER 20, 2021

Now is the time for community financial institutions to pay attention. The CBOT penalty is a solid reminder to all community financial institutions that a robust AML program is critical in guarding against money laundering and terrorist financing risks regardless of size and risk. and CDD will be top of regulators' minds for some time.

Resources 195

Resources Texas Analysis System 195

PYMNTS

SEPTEMBER 25, 2019

Earlier in 2019, Checkout.com announced a $230 million Series A funding round. . As a company whose own leadership team has meaningful connections to the French community, we look forward to being a part of that growth.”.

Payments 116

Payments United States Leadership Community 116

PYMNTS

DECEMBER 16, 2019

government affairs and public policy, said in a letter to the Fed that Google “worked closely” with the National Payments Corporation of India (NPCI) to build Google Pay for the Indian market. NPCI, the payment regulator governed by the Reserve Bank of India (RBI), launched real-time payments in 2016. billion in 2019.

Google 144

Google System Payments Study 144

Abrigo

MARCH 25, 2020

Key Takeaways Banking regulators say short-term, COVID-19-related loan modifications shouldn't automatically be categorized as TDRs. Regulators also announced other guidance tied to reporting and risk-based capital rules. Regulators also announced other guidance tied to reporting and risk-based capital rules.

FDIC 150

FDIC Regulation Exercises Community 150

PYMNTS

APRIL 29, 2019

With first-quarter earnings reports rolling out, it’s time to take a look at the state of small businesses and how they fared for the first three months of 2019. Plus, there is new evidence that the middle-market business community fared particularly well in the first quarter. Beyond the U.S., Beyond the U.S. ,

Lending 168

Lending Michigan Community National 168

Abrigo

JULY 28, 2021

Community financial institutions required to complete the current expected credit loss (CECL) standard implementation by 2023 are undoubtedly busy managing record-low net interest margins, pandemic-related uncertainties, and operational issues, as well as their own strategic initiatives. “At Start Now’.

Resources 195

Resources San Antonio Data Regulation 195

PYMNTS

DECEMBER 27, 2019

These and other 19 th -century proto-cooperatives were the forerunners of today’s credit union (CU) community. The PYMNTS December 2019 Credit Union Tracker looks at the changing topography of the CU space, as digital transformation challenges the “all for one, one for all” mentality that has undergirded their business model since the 1800s.

Digital Banking 130

Digital Banking Millennials Banking Trends Mobile 130

CFPB Monitor

JANUARY 28, 2021

The fate of the OCC’s Community Reinvestment Act (“CRA”) final rule , issued on May 20, 2020, hangs in the balance following the inauguration of President Biden on January 20 and the resignation of former Acting Comptroller Brian Brooks, who was a major proponent of the rule, on January 14.

Community 131

Community FDIC Lending Survey 131

South State Correspondent

OCTOBER 28, 2022

cyber, infrastructure, and regulation. During the two weeks, there were over a hundred significant cyberattacks by nation-states on national and regional banks that you could watch unfold in near real-time (bel0w) at Gartner and Money 20/20. Small Idea – Policy and Regulations are Lagging But Are Going in Banking’s Favor.

Conference 195

Conference Technology Las Vegas Trends 195

CFPB Monitor

MAY 7, 2020

The CFPB’s annual fair lending report covering its 2019 activities is scheduled to be published in tomorrow’s Federal Register. The Bureau states that “neither ECOA nor Regulation B mandate the use of any particular list of reasons. No-Action Letter Policy) to address potential compliance issues.

Lending 78

Lending Report FDIC Policies 78

Gonzobanker

DECEMBER 14, 2023

Not the financial industry’s “Troublemakers ” – those regional and community banks, credit unions and supporting fintech entrepreneurs who continue to engage customers and communities and find niches that keep the grassroots of our country’s financial system alive and kicking. We are in awe. Seriously in awe.

Fintech 194

Fintech Community Regional Technology 194

CFPB Monitor

FEBRUARY 3, 2021

In Inclusive Communities , which was decided in 2015, the U. Initially filed in 2013 by the National Association of Mutual Insurance Companies (“NAMIC”) and the American Insurance Association (“AIA”), the plaintiffs filed an amended complaint in April 2016 in which they allege that the 2013 Rule is inconsistent with Inclusive Communities.

Massachusetts 78

Massachusetts Leadership Analysis Community 78

CFPB Monitor

FEBRUARY 14, 2019

A new executive order signed by President Trump on February 11, 2019 is intended to maintain American leadership in artificial intelligence (AI) research and development (R &D). Those agencies are to be identified by the National Science and Technology Council Select Committee on Artificial Intelligence Select Committee.

Lending 84

Lending Community National Leadership 84

CFPB Monitor

JULY 15, 2020

When the OCC issued its final Community Reinvestment Act (“CRA”) rule on May 20, 2020, the agency acted alone without waiting to achieve consensus with the FDIC, the agency with which the OCC had jointly issued its proposed rule. As to the Federal Reserve Board (“FRB”), it had already bowed out of the CRA reform effort in 2019.

FDIC 78

FDIC Community Bank Community Regulation 78

CFPB Monitor

JULY 2, 2019

In April 2011, the CFPB issued guidance indicating that it would not enforce Section 1071 until it issued implementing regulations. In the amended complaint adding the new plaintiffs , the NALCAB is described as a nonprofit organization whose “mission is to strengthen the economy by advancing economic mobility in Latino communities.”

California 60

California Resources Community Lending 60

PYMNTS

AUGUST 14, 2018

The new bank — backed by Community Choice Credit Union, Alpena Alcona Area Credit Union, ELGA Credit Union, Frankenmuth Credit Union, Honor Credit Union, Members First Credit Union and Team One Credit Union — is aiming to get regulatory approval and make its full debut by the first quarter of 2019.

Michigan 100

Michigan Report Ohio Groups 100

Abrigo

FEBRUARY 15, 2023

intelligence community clarify who is considered a domestic or foreign terrorist and provide activity patterns to add to banks’ monitoring systems and manual reviews of transactions. The 2019 FinCEN advisory extensively discusses typologies, case studies, and red flags for DTO activity. from the U.S. These networks exploit the U.S.

Fraud 195

Fraud United States Training Policies 195

PYMNTS

FEBRUARY 4, 2020

Congress can regulate sports gambling directly, but if it elects not to do so, each state is free to act on its own.”. RotoGrinders is a website that provides the DFS community with various bits of data, including game-specific weather forecasts. The industry is big business – and getting bigger by the day.

Online 134

Online New Hampshire Rhode Island District of Columbia 134

PYMNTS

OCTOBER 12, 2020

We’ve listened to our community and their requests for different payment options – more and more retailers are offering this as an option. In December 2019, Renfrew testified as an expert witness before Congress in what was only the second hearing on cosmetic reform held in the House in the past 40 years.

Innovation 270

Innovation New York City Denver Retail 270