PYMNTS

NOVEMBER 7, 2019

The Bank of England has told HSBC to improve compliance controls for non-fiscal factors like fraud and staff conduct, according to a report by Reuters. The shortcomings were pointed out by Prudential Regulation Authority regulators. HSBC said it is planning to get executives together to work on the problem.

Compliance 101

Compliance Fraud Taxes Regulation 101

PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. The Cost of Compliance. The projected 2020 cost of AML compliance across all U.S. financial institutions (77 percent) for AML compliance.

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

PYMNTS

OCTOBER 12, 2020

regulators cracked down on the firm Oct. regulators not coming as a surprise. He said Qume’s goal, since forming early in 2019, was to build a regulatory-friendly, more decentralized experience for things like custody.

Bitcoin 261

Bitcoin Compliance Lending Regulation 261

PYMNTS

FEBRUARY 17, 2020

increased regulation over content delivered online through platforms may be on the horizon. This past week, Britain’s federal government said its media regulator, known as Ofcom, would be given new oversight to monitor and regulate material posted on the web by companies such as Facebook, Google and Twitter. In the U.K.,

Regulation 140

Regulation Google Operations Company 140

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. Know Your Customer. Detection and Alert Handling.

Compliance 40

Compliance Regulation Taxes Analytics 40

Perficient

AUGUST 16, 2023

Heartland Tri-State began operations in 1985 under the name First National Bank of Elkhart. In 2019, it expanded by buying its fourth branch from a competitor. Bank Closed By Regulators Almost all bank closures happen on a Friday so that regulators can work all weekend to reopen the bank on Monday.

United States 221

United States Kansas FDIC Risk Management 221

CFPB Monitor

MAY 23, 2019

The FDIC has announced that it has entered into a settlement of the lawsuit filed against it and the OCC in 2014 by a trade group and several payday lenders challenging “Operation Choke Point” — a federal enforcement initiative involving the FDIC, OCC and other federal agencies. In July 2017, the D.C.

FDIC 112

FDIC Operations Policies Regional 112

PYMNTS

JULY 5, 2020

The nation’s marijuana regulator has told financial institutions to treat the $500 million hemp businesses the same way they would any other businesses. It’s intended to “enhance the availability of financial services and the financial transparency of hemp-related businesses in compliance with federal law,” the notice said.

US 352

US Nevada Arizona Guidelines 352

Insights on Business

JULY 17, 2019

Our goal has always been to provide our customers with the tools and insights that help them meet their governance, risk and compliance (GRC) needs, and we do so, by leveraging the innovation of IBM within a single ecosystem. Source: Gartner, Magic Quadrant for IT Risk Management, Khushbu Pratap, Brian Reed, 03 July 2019.

Risk Management 110

Risk Management Management Report Compliance 110

CFPB Monitor

JANUARY 7, 2021

The CFPB has issued an approval order through its Compliance Assistance Sandbox Policy (CAS Policy) to Synchrony Bank in connection with a proposed “dual-feature” credit card (DFCC) program. The order has a 36-month duration. The Bureau also identifies “additional factors” it considered in issuing the approval order.

Compliance 78

Compliance Cards Policies Security 78

PYMNTS

SEPTEMBER 12, 2019

Financial services providers that slack on regulatory compliance and fail to safeguard their operations against money laundering, terrorist financing and other criminal activities may face damaged reputations and significant fines. billion — 91 percent — of those penalties, while European regulators demanded $1.7 million. .

Fraud 189

Fraud Fintech Compliance Regulation 189

PYMNTS

FEBRUARY 7, 2020

The National Payments Corporation of India (NPCI) provided the firm with permission to put WhatsApp Pay into operation in a phased manner, The Business Standard reported. . Almost two years after its experimental run, the Facebook-owned messaging service WhatsApp has received regulatory approval for its WhatsApp Pay platform in India.

Mobile 267

Mobile Compliance Payments National 267

PYMNTS

DECEMBER 19, 2019

The revised Payment Services Directive ( PSD2 ) Strong Customer Authentication ( SCA ) regulation rollout in the EU has been a little bit on the bumpy side so far. 14 of this year, and while PSD2 did, the SCA part of the regulation has been put on hold. What will that compliance look like in the in the EEA and around the world?

Compliance 102

Compliance Regulation Strategy Training 102

FICO

MARCH 7, 2023

Home Blog FICO Responsible AI: Are European Firms Ready for the Regulators? There are significant changes coming in Europe, which highlight getting a handle on responsible AI use, with the banking and financial services sector among those that will be most impacted by increasing regulation.

Regulation 52

Regulation America Compliance Fraud 52

Abrigo

SEPTEMBER 14, 2022

Takeaway 3 Financial institutions should consider the impact of this rule and prepare for changes to their business operations. Online lenders, platform lenders, and fintechs should also consider sending feedback to the CFPB and considering the ways their operations might be affected. Those implementing regulations were coming.

Lending 195

Lending Data Regulation Community 195

PYMNTS

SEPTEMBER 9, 2019

Each country has its own rules and regulations dictating how businesses can make and receive payments, as well as its own, unique financial infrastructure. How can international businesses streamline their cross-border operation systems to overcome these frictions?

Payments 174

Payments Compliance Meeting System 174

Abrigo

DECEMBER 5, 2019

Banking regulators, state regulators, and FinCEN release joint statement. The 2018 Farm Bill removed hemp as a Schedule I narcotic under the Controlled Substances Act and directs the United States Department of Agriculture (USDA) to regulate legal hemp cultivation and production. BSA Rules and Regulation. Learn More.

Regulation 195

Regulation United States Training Compliance 195

Abrigo

JANUARY 21, 2020

Key Takeaways The number of institutions banking cannabis grew significantly in 2019. Despite Federal ambiguity, State Regulators are beginning to clearly define their stances on cannabis banking. Compliance and anti-money laundering (AML) is going green… or is it? Department of Treasury, FinCEN.

United States 243

United States New York Regulation DC 243

PYMNTS

SEPTEMBER 11, 2019

Jamal El-Hindi, the deputy director of the Financial Crimes Enforcement Network (FinCEN), spoke at the 2019 Money Transmitter Regulators Association Annual Conference on Wednesday (Sept. 11) about the importance of innovation and the regulation of non-banking financial institutions (NBFI), according to a release.

social media 116

social media Compliance Innovation Regulation 116

FICO

JANUARY 30, 2019

There’s a pervasive view that compliance for money laundering remains a cost-centre activity, and is primarily a “check-the-box” exercise to keep the auditors and regulators satisfied. As business volumes and data complexity increase exponentially, AML compliance has taken on a bigger role.

Compliance 45

Compliance Regulation Fraud System 45

PYMNTS

DECEMBER 26, 2018

Today’s coverage includes the latest figures about Amazon’s holiday season and reason for optimism about cross-border sales in 2019. Local China Merchants Upbeat About 2019 Cross-Border Sales. and China, local Chinese vendors operating in Yiwu International Trade City are upbeat about 2019.

Compliance 108

Compliance cryptocurrency Regulation Security 108

Bobsguide

MARCH 17, 2022

The module fully covers the calculation of minimum loss coverage amount for non-performing exposures (NPEs), in line with the provisions of Regulation (EU) 2019/630. RiskAvert has been developed to help organisations achieve their business goals pertinent to compliance through an intuitive, automated and flexible platform.

Risk Management 78

Risk Management Regulation Meeting Compliance 78

PYMNTS

FEBRUARY 24, 2020

Financial institutions (FIs) and merchants from other regions have been dipping their toes into the Chinese market, but open banking has compounded the difficulty involved in setting up operations. The country’s government and regulators are keeping pace with those in the European Union and the U.S.

Regulation 160

Regulation Policies Data Compliance 160

FICO

APRIL 28, 2020

The winners of the 2019 FICO® Decisions Awards can now be formally announced. The 2019 FICO Decisions Award winners have demonstrated what is possible with a clear business objective, innovative use of technology and a great partnership. Regulatory Compliance. AI, Machine Learning and Optimization.

Analytics 52

Analytics Fraud Management Innovation 52

CFPB Monitor

NOVEMBER 16, 2021

The amendments require the DFS to consider the performance record of a New York-licensed mortgage banker “in helping to meet the credit needs of its entire community, including low and moderate income neighborhoods…consistent with safe and sound operation” when taking action on an application for a change in control.

New York 78

New York Community Regulation Data 78

PYMNTS

OCTOBER 13, 2020

Department of Justice, which said in a report that rogue nations and other risks loom as exchanges are lightly (or not at all) regulated – making it difficult to, as the maxim goes, follow the money. The report relays a series of anecdotes, such as Ponzi schemes and other fraudulent methods , and points out that in 2019, over $4.5

cryptocurrency 206

cryptocurrency United States social media Regulation 206

PYMNTS

FEBRUARY 5, 2020

That’s a bad moon rising for some Big Data operators. The Merchants’ Guide to Navigating Global Payments Regulations , powered by Ekata, dives deep into this complex and unsettled topic, from possible abrupt retail impacts to long-term open banking repercussions. With regulators showing their fangs in dozens of countries, U.S.

Google 288

Google Data Regulation social media 288

FICO

MAY 2, 2023

I sat down with UK lenders in two roundtable discussions in March to explore the different approaches being taken to Consumer Duty compliance. Get the Best out of Data To get past this challenge, firms should be seeking to ensure that their decision making is at a customer level and does not operate in departmental or product siloes.

Compliance 52

Compliance How To Tools Strategy 52

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

FEBRUARY 15, 2023

Develop your risk assessment with the AML/CFT priorities in mind Evaluating each FinCEN priority and addressing them in your financial institution's risk assessment is key to compliance. Foreign and domestic terrorist financing – Terrorists require financing to recruit and support members, fund logistics, and conduct operations.

Fraud 195

Fraud United States Training Policies 195

CFPB Monitor

APRIL 5, 2019

The California Department of Business Oversight has sent an email to servicers notifying them of the publication of its final student loan servicer regulations , which became effective March 28, 2019. Servicers have been operating without final rules since the Student Loan Servicing Act became effective on July 1, 2018.

California 68

California Regulation Compliance Operations 68

CFPB Monitor

JULY 8, 2019

With regard to small business lending, the Bureau focused on assessing whether (1) there is discrimination in application, underwriting, and pricing processes, (2) creditors are redlining, and (3) there are weaknesses in fair lending related compliance management systems.

Lending 60

Lending Report Policies Compliance 60

Jeff For Banks

APRIL 4, 2024

Shadow Banking refers to banking-like operations that take place outside of the mainstream banking industry. Shadow bank lending is similar to bank lending but is not subject to the same regulations, and compensating deposit balace requirements. and 53% indirect costs: operations, IT, human resources, etc.

Banking Trends 113

Banking Trends Trends Millennials Oregon 113

PYMNTS

DECEMBER 27, 2019

Or maybe a relatively bland extended-stay operation right off the interstate. To learn more about the trend, PYMNTS recently caught up with Kulveer Taggar, co-founder and CEO of Zeus , a digital and mobile-focused operation that puts business travelers into furnished housing that Zeus rents from owners.

Los Angeles 139

Los Angeles San Francisco New York City Trends 139

PYMNTS

JANUARY 22, 2019

Last year brought the General Data Protection Regulation (GDPR) deadline, Europe’s attempt to boost online privacy and security for consumers — a law that just resulted in a $57 million fine against Google , which was accused of not doing enough to gain the consent of users when collecting data meant for targeted advertising. 70 percent.

Payments 195

Payments Regulation Security Data 195

PYMNTS

JULY 15, 2020

That’s bureaucratic code for “Regulators will be checking on ‘Know Your Patient’ (KYP) compliance in the near future.” With the sudden, meteoric growth of telehealth applications, digital “Know Your Patient” compliance is now something you need if you touch any medical data at any stage. They should.

Data 146

Data Compliance Regulation Meeting 146

Independent Banker

NOVEMBER 30, 2022

Stacy Watkins (left), president and CEO, and Hilary Nelson (right), senior vice president and director of operations and compliance, at the Las Vegas Strip. Lexicon Bank in Las Vegas opened its doors in August 2019, not long before COVID-19 shut down the city’s entertainment businesses. “The Photo by Sammy Tillery.

Las Vegas 129

Las Vegas Community Bank Community Wisconsin 129