CFPB Monitor

MAY 17, 2021

On May 6, 2021, the CFPB’s Office of Servicemember Affairs issued its eighth annual report summarizing its activities from January 1 through December 31, 2020. The program is free and available for use by all military personnel, including National Guard and Reserve members. Second, COVID-19 relief will also be a key area of focus.

Report 78

Report Compliance Leadership Analysis 78

Abrigo

FEBRUARY 9, 2024

billion laundered between 2015 and 2020 through the U.S. The proposed rule is part of a requirement of the Anti-Money Laundering Act of 2020 (AMLA) to initiate transparency within the real estate industry. real estate between 2015 and 2020, and the actual number is almost certainly higher. real estate market alone.

Training 195

Training Fraud Trends Report 195

PYMNTS

DECEMBER 11, 2020

PYMNTS’ December 2020 Digital Identity Tracker® , done in collaboration with Jumio , delves with enthusiasm and deep detail into the burgeoning field of video-based KYC , highlighting a number of compelling use cases from around the world that showcase its effectiveness. But that’s about to end.

Video 204

Video Security National Digital Banking 204

PYMNTS

NOVEMBER 26, 2019

BitBay has announced that monero (XMR) will no longer be tradeable starting in February 2020. Compliance with market standards and regulations allows us to provide our clients with legal security and convenience of using the exchange, with the participation of a friendly banking system and the availability of payment operators,” BitBay said.

Bitcoin 141

Bitcoin ATM Risk Management Compliance 141

PYMNTS

MARCH 2, 2020

After rumors of decline, CUs kicked off the roaring 2020s with higher metrics across the board – mortgage loans up by a staggering 81 percent, loan originations up almost 30 percent year over year, and non-real estate loans up by double digits. Seems that everybody likes credit unions—including cybercrooks.

California 130

California Fraud Pennsylvania Community 130

Abrigo

JANUARY 3, 2024

The final access rule does not dictate how to receive consent and allows for flexibility based on differences in FIs across the nation. The Anti-Money Laundering Act of 2020 (AMLA) requires this final piece of the beneficial ownership regulation to be issued no later than one year after the effective date (Jan. Beginning Feb.

Fraud 221

Fraud Regulation Report Compliance 221

PYMNTS

SEPTEMBER 14, 2020

The United States may have some of the world's best cryptographers working for the National Security Agency and other spy shops, but the Internal Revenue Service (IRS) is crowdsourcing at least part of its effort to beat the algorithms that cloak information about certain cryptocurrencies. 1 have just taken effect.

blockchain 160

blockchain cryptocurrency Bitcoin Compliance 160

PYMNTS

SEPTEMBER 30, 2020

The ongoing COVID-19 pandemic is accelerating this shift, making financial institutions (FIs), merchants and their regulatory officials race to secure these new digital users. MENA nations’ original rules involved data privacy, but they were focused on developing the open banking ecosystem and allowing information to move freely.

Regulation 175

Regulation Data Regional Examples 175

CFPB Monitor

NOVEMBER 29, 2021

The 2022 clarity promised by the “roadmap” presumably will supersede, once issued, Interpretive Letter #1179, which appears to function as a general stop-gap until the 2022 publications hopefully provide more detail regarding exactly how banks can attain compliance. Federal banking regulators have been busy in this space.

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

Independent Banker

JUNE 30, 2022

Security Bank Midwest. Security Bank. American Bank, National Association. Classic Bank, National Association. The First National Bank In Sioux Falls. Dakota Community Bank & Trust, National Association. Agriculture: Less than $300 million in assets. Ag Lender Score. Red River State Bank. Chancellor.

Community Bank 172

Community Bank Community National Philadelphia 172

South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. As such, the National Security Agency (NSA ) is calling for banks to be compliant by 2030.

Conference 195

Conference Payments Fraud Data 195

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

Lex Sokolin

DECEMBER 25, 2019

As 2020 sneaks upon us, it’s the season for predictions and prognostications. Other things like Compound are essentially a securities lending marketplace?—?you This financial commitment also performs the function of securing the historic accuracy of the data on the chain itself, like electricity-consuming mining does in Bitcoin.

blockchain 52

blockchain Bitcoin Software Lending 52

Abrigo

SEPTEMBER 10, 2021

The role of BSA staff was typical compliance and very task-oriented. October 26 is now nationally recognized as BSA/AML Day.) Regulatory scrutiny became ever-present, knowing that the security of their homeland was at stake. soil. .

Training 195

Training Risk Management Pennsylvania Resources 195

CFPB Monitor

FEBRUARY 3, 2021

Department of Housing and Urban Development (“HUD”) to “as soon as practicable, take all steps necessary to examine the effects of” the final rule issued by HUD in September 2020 (“2020 Rule”) revising its 2013 Fair Housing Act (“FHA”) disparate impact standards (“2013 Rule”). federal district court challenging the 2013 Rule.

Massachusetts 78

Massachusetts Leadership Analysis Community 78

PYMNTS

SEPTEMBER 17, 2018

For airlines and hotels, catering to customers from around the world means dealing with a long list of complications, including accepting payments in a host of local currencies, complying with national and international regulations, and finding ways to afford or offset the high price of processing fees. The Future Of Travel Payments.

Data 122

Data Analytics Security Payments 122

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. Data privacy and security is a hot topic and is only getting hotter. By Katie Kuehner-Hebert. Bob Hickok.

Data 91

Data How To Community Bank California 91

Abrigo

SEPTEMBER 22, 2021

PCD Disclosures Some disclosures are the same, but disclosures tied to PCD accounting and AFS debt securities are changing under CECL. I think it’d be wise for institutions to take that advice to heart,” said Graham Dyer, Partner in the National Professional Standards Group of Grant Thornton LLP. Learn more. Learn more. Learn more.

Security 195

Security Examples National Report 195

PYMNTS

OCTOBER 24, 2018

The legislation is slated to go into effect on January 1 of 2020, and among other mandates requires (with some similarities to GDPR) that companies gather consent from their consumer base when it comes to collecting and using data — and there are also provisions that mandate consumers be compensated when their data is in fact used.

Data 122

Data US California Guidelines 122

FICO

FEBRUARY 16, 2021

In June 2020, the US Social Security Administration (SSA) launched their electronic consent-based verification service (eCBSV). The eCBSV is an electronic service that offers registered members, such as banks, the ability to confirm the social security number of their customers, with the customers consent. . LizLasher@fico.com.

Fraud 52

Fraud Security National Examples 52

CFPB Monitor

DECEMBER 14, 2020

As previously reported , in October 2020 the CFPB extended the January 10, 2021 sunset date for the GSE Patch to provide for the implementation of the final new general QM rule. For a first lien transaction secured by a manufactured home with loan amount of less than $110,260, 6.5 General QM. or more percentage points.

Handbook 148

Handbook Compliance Regulation Meeting 148

Abrigo

JULY 16, 2021

Takeaway 1 FinCEN published its first list of priorities for AML/CFT policy, as required by the Anti-Money Laundering Act of 2020 (AMLA). financial system and national security. Takeaway 2 Regulations haven't been written, but there are steps community financial institutions can take now to prepare.

Community 195

Community Regulation Training Policies 195

PYMNTS

JANUARY 6, 2020

The nation has watched many European countries go through this process over the past year, so impacts on its financial ecosystem are at least expected if firms have not yet experienced them. Preparedness helps with confident compliance . Turkish institutions. PSD2 was slated to take full effect in Turkey on Jan.

Regulation 131

Regulation Industry Data Regional 131

Independent Banker

SEPTEMBER 30, 2021

Building trust in your institution has a lot to do with technology, from implementing strong data security practices to humanizing your online customer interactions. Penetration testing, or pen testing for short, has become a staple of bank IT security programs because hacking threats are constantly evolving. Elizabeth Judd.

Community 139

Community Community Bank social media Security 139

FICO

DECEMBER 2, 2020

In December of last year, the Malaysian National Bank, Bank Negara, issued a consultation document about their intention to allow eKYC in the applications process for a wide range of financial products. Improved approval time from days to minutes, providing easy-to-use and integrated security across the customer lifecycle.

Survey 72

Survey Regional Compliance Fraud 72

Abrigo

DECEMBER 20, 2021

As of Jun 2020, CBOT's asset size was approximately $4 billion with 35 branches. The AML Act of 2020 will more than likely overhaul the 2018 CDD rule with stricter beneficial ownership requirements. A strong culture of compliance was clearly lacking at CBOT, as evidenced by this consent order. You should take note.

Resources 195

Resources Texas Analysis System 195

CFPB Monitor

OCTOBER 20, 2021

The letter takes aim at the Bureau’s November 2020 advisory opinion dealing with EWA products and its December 2020 approval order issued in connection with Payactiv’s EWA program. Methods to verify that the consumer has earned wages coming to them are simply a form underwriting or security.” That is a loan.

Regulation 78

Regulation Groups Analysis Lending 78

CFPB Monitor

JULY 21, 2022

On July 13, 2022, the House of Representatives (the “House”) adopted an amendment to the 2023 National Defense Authorization Act (“NDAA”) offered by Maxine Waters (D. in a manner that the Secretary determines appropriate to assess compliance” with the amendment.

United States 78

United States Taxes Regulation Compliance 78

CFPB Monitor

JUNE 26, 2022

The Advisory provides some statistics on the pervasiveness of EFE and notes that financial institutions filed 72,000 SARs related to EFE in 2021 – an increase of 10,000 SARs over filings in 2020. billion in 2020. billion in 2019 to $3.4 SARs and Other Outreach to Combat EFE.

social media 78

social media Fraud Resources United States 78

PYMNTS

JANUARY 28, 2020

It’s all detailed in the PYMNTS January 2020 AML/KYC Tracker ®, a collaboration with verification solutions firm Trulioo. In the latest PYMNTS AML/KYC Tracker®, we learn that crypto is increasingly being defined as a security, not a currency – but either way, it’s getting a lot more scrutiny.

Compliance 151

Compliance cryptocurrency Fraud Regulation 151

Abrigo

NOVEMBER 11, 2021

The June 2021 release of the Financial Crimes Enforcement Network ( FinCEN) Priorities makes this clear in naming cybercrime as one of the eight national anti-money laundering and countering the financing of terrorism (AML/CTF) priorities. Cyber-attacks, and ransomware specifically, are the most significant threats to U.S.

Fraud 195

Fraud cryptocurrency System Trends 195

Abrigo

NOVEMBER 11, 2021

The June 2021 release of the Financial Crimes Enforcement Network ( FinCEN) Priorities makes this clear in naming cybercrime as one of the eight national anti-money laundering and countering the financing of terrorism (AML/CTF) priorities. Cyber-attacks, and ransomware specifically, are the most significant threats to U.S.

Fraud 195

Fraud cryptocurrency System Trends 195

Abrigo

NOVEMBER 22, 2021

Consumer Lending Laws & Compliance Financial institutions offering consumer loans need to know about these major consumer lending laws and recent compliance issues. Takeaway 1 Risk tied to consumer lending compliance has been elevated as a result of the pandemic and associated operating challenges. Pandemic Issues.

Compliance 195

Compliance Lending Risk Management Regulation 195

CFPB Monitor

DECEMBER 16, 2020

The CFPB should rescind the July 2020 rule that rescinded the underwriting provisions in its 2017 rule on Payday, Vehicle Title, and Certain High-Cost Installment Loans (2017 Payday Rule) and reinstate the 2017 Payday Rule. The CFPB should rescind its no-action letter policy, trial disclosure program, and compliance assistance sandbox.

Policies 78

Policies Regulation Lending FDIC 78

Banking 2020

DECEMBER 4, 2014

This Monday, security firm FireEye dropped a critical announcement : A group of highly sophisticated cybercriminals have spent the past year hijacking email correspondence between senior executives at publicly held healthcare-related organizations. Insights apt breach FIN4 fireeye phishing security threat'

Course 69

Course United States Compliance Security 69

PYMNTS

APRIL 30, 2020

These platforms enable merchants to integrate with a variety of localized payment methods and also receive services that support payments analysis, regulatory compliance and more. Serving Dutch consumers, however, required supporting iDEAL, a national method that enables funds to be transferred directly from users’ bank accounts.

Payments 131

Payments Cards Resources Online 131

Banking 2020

DECEMBER 4, 2014

This Monday, security firm FireEye dropped a critical announcement : A group of highly sophisticated cybercriminals have spent the past year hijacking email correspondence between senior executives at publicly held healthcare-related organizations. Insights apt breach FIN4 fireeye phishing security threat'

Course 58

Course United States Compliance Security 58