PYMNTS

JULY 2, 2020

Driven by COVID-19 fears and stampeding online, consumers overwhelmed many businesses in 2020 that were unprepared for drastic, sudden eCommerce volume. Solving for data compliance while reinventing with new digital tools is just one of the key themes found in the June 2020 Merchants Guide To Navigating Global Payments Regulations.

Compliance 223

Compliance Data Regulation Online 223

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

Abrigo

NOVEMBER 2, 2021

Culture of compliance is crucial to BSA/AML programs Culture of compliance within the BSA/AML framework is not new and was first introduced by FinCEN in 2014. Takeaway 2 Poor culture of compliance will result in shortcomings in a financial institution's BSA/AML program. A strong culture of compliance is crucial.

Compliance 195

Compliance Regulation Resources Policies 195

Abrigo

AUGUST 27, 2020

Key Takeaways FinCEN and federal regulatory agencies have been increasingly transparent in the first three quarters of 2020. Regulators have determined there are five top hot topics that institutions should expect during their next exam. There is no doubt that the year 2020 is strange and maybe even frightening to many people.

Regulation 195

Regulation Fraud Compliance Trends 195

Abrigo

AUGUST 27, 2020

Key Takeaways FinCEN and federal regulatory agencies have been increasingly transparent in the first three quarters of 2020. Regulators have determined there are five top hot topics that institutions should expect during their next exam. There is no doubt that the year 2020 is strange and maybe even frightening to many people.

Regulation 195

Regulation Fraud Compliance Lending 195

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 1 The Anti-Money Laundering Act of 2020 (AMLA) is the first significant change to the Bank Secrecy Act in nearly 20 years. Anti-Money Laundering Act of 2020.

Regulation 195

Regulation Training Study Policies 195

Perficient

DECEMBER 27, 2023

Manage third-party risks, especially for relationships involving higher-risk or critical activities. . * * Note that the AML Act of 2020 requires the issuance of changes to the Customer Due Diligence and Beneficial Ownership Rule.

Compliance 221

Compliance FDIC Regulation Fraud 221

PYMNTS

OCTOBER 7, 2020

As data privacy becomes enshrined in international law, regulatory compliance will grow more stringent and costly to companies that fail to provide the digital defenses these laws demand. A single point of integration provides a way to more easily adhere to new and evolving regulations,” Jenna Hutt, Spreedly head of compliance, told PYMNTS.

Compliance 201

Compliance Fraud Data Payments 201

Abrigo

NOVEMBER 21, 2019

Key Takeaways Now is a good time to plan 2020 BSA/AML training and efforts to educate clients and colleagues about BSA and fraud red flags. Sustainability of your institution's BSA program deserves particular focus in 2020. Plan BSA/AML continuing education for 2020. Communicate in 2020 to educate teams and clients.

Compliance 195

Compliance Training Fraud US 195

CFPB Monitor

FEBRUARY 12, 2024

The South Dakota Division of Banking issued a Memorandum notifying all licensed money lenders and non-residential mortgage lenders of their Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) obligations under a 2020 Final Rule published by the Financial Crimes Enforcement Network (“FinCEN”). Continue Reading

South Dakota 78

South Dakota Compliance Regulation 78

PYMNTS

DECEMBER 16, 2020

Robinhood has come under the watchful eye of regulators — this time in Massachusetts. State regulators are set to file a complaint on Wednesday (Dec. 16) saying that the stock-trading platform failed to protect its customers and their assets, violating state laws and regulations.

Massachusetts 178

Massachusetts Regulation Security Compliance 178

PYMNTS

APRIL 1, 2020

Consumer data privacy laws were making compliance difficult before a pandemic brought the world to a halt. In the latest Merchants Guide To Navigating Global Payments Regulations we find that dastardly data deeds aren’t stopping despite COVID-19. Are we living in those conditions now? No one is totally sure. Sixty-three percent of U.S.

Compliance 153

Compliance Data Google Regulation 153

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

PYMNTS

JANUARY 28, 2020

10, with new regulations for cryptocurrencies, wallets and exchanges. Issuers, merchants, payments service providers (PSPs) and other interested parties are closely watching developments in AML/KYC and counter terrorist financing (CTF) regulations, as governments worldwide clamp down strongly on identity scams. Know Your Criminals.

Compliance 151

Compliance cryptocurrency Fraud Regulation 151

Abrigo

JANUARY 27, 2020

The National Credit Union Administration (NCUA) has been working on their share of goal setting, as they have released their 2020 supervisory priorities for credit unions, regulation updates, and the agency’s modernization programs. “We BSA Rules and Regulation. Bolster BSA/AML through due diligence and reporting. Learn More.

Risk Management 195

Risk Management Regulation Management Report 195

Abrigo

DECEMBER 30, 2019

Key Takeaways Using exam findings from 2019 can help strengthen your BSA program in 2020. Institutions must create a strong culture of compliance. Regulatory hot topics and exam findings from 2019 give us a good road map for 2020 exam preparation. Creating a Culture of Compliance. Ensure There Are Adequate Resources.

Training 195

Training Compliance Leadership Fraud 195

CFPB Monitor

NOVEMBER 11, 2021

This suggests that the agencies might provide some leniency in the event of non-compliance. However, it is clear from the overall message delivered by the agencies that servicers who rely on this suggestion with the expectation that they will receive leniency for non-compliance do so at their peril. CFPB mortgage servicing report.

Compliance 78

Compliance Regulation FDIC Meeting 78

CFPB Monitor

OCTOBER 19, 2022

We have our first-ever federal court opinion evaluating the requirements of Regulation F! Reading Regulation F out loud” is more like it. The Question: Does Regulation F require debt collectors to use the CFPB’s model validation notice (“MVN”) to comply with the FDCPA? It’s official! See id. § 1006.34(d)(2). Id. § 1006.34(d)(2)(i)….The

Regulation 78

Regulation Compliance Analysis Exercises 78

CFPB Monitor

JANUARY 27, 2020

The CFPB published a policy statement in today’s Federal Register to announce that, going forward, it is establishing a new “Compliance Aids” designation for certain Bureau guidance. The policy statement becomes applicable on February 1, 2020.

Resources 78

Resources Policies Compliance Exercises 78

American Banker

FEBRUARY 12, 2024

Since 2020, Citigroup's regulators have been pressuring the company to clean up its risk management systems. The megabank recently received three notices of matters requiring immediate attention, and it also failed regulatory exams, Reuters reported.

Risk Management 73

Risk Management Regulation Management Report 73

CFPB Monitor

MAY 28, 2020

The final rule was published in the May 12, 2020 Federal Register. The CFPB recently issued an updated version of the HMDA Small Entity Compliance Guide to reflect the changes in the thresholds.

Compliance 78

Compliance Resources Regulation Report 78

CFPB Monitor

MAY 28, 2020

The final rule was published in the May 12, 2020 Federal Register. The CFPB recently issued an updated version of the HMDA Small Entity Compliance Guide to reflect the changes in the thresholds.

Compliance 78

Compliance Resources Regulation Report 78

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

SEPTEMBER 16, 2019

Despite announcements last month that the deadline for Strong Customer Authentication (SCA) compliance will be extended , the original proposed deadline approaches next week. has not implemented regulations like GDPR or SCA, but there has been a groundswell of interest, at least from the private sector. Previous efforts for the U.S.

Compliance 130

Compliance Guidelines Regulation National 130

Bank Innovation

DECEMBER 20, 2019

In this episode, Suman Bhattacharyya, senior editor, and Angely Mercado, associate editor, discuss the following news developments: The ongoing rebundling of financial services in 2020; How large financial startups like Betterment and Wealthfront are pursuing paths […].

Video 221

Video Customer Experience Compliance Regulation 221

Abrigo

DECEMBER 22, 2023

Abrigo's most popular financial crime blogs over the last 12 months cover topics that continue to catch the attention of professionals and regulators. Others explain common and emerging fraud trends that compliance staff are working to prevent. Here are Abrigo’s 10 top AML and fraud blogs in 2023.

Fraud 221

Fraud Training Compliance Trends 221

BankInovation

AUGUST 9, 2021

One of the latest fintechs to enter the auto finance scene is Lender Compliance Technologies (LCT), which specializes in compliance solutions for auto and powersports lenders. Founded in early 2020, LCT in April […].

Compliance 98

Compliance Technology Fintech Lending 98

PYMNTS

JANUARY 8, 2020

Call it, perhaps, a New Year’s Resolution list — for regulators. 8), the Securities and Exchange Commission ’s (SEC’s) Office of Compliance and Examinations (OCIE) offered up a list of its priorities for the year that has just dawned. In documents released Tuesday (Jan.

blockchain 138

blockchain Phoenix Compliance cryptocurrency 138

Cisco

NOVEMBER 1, 2022

In 2017, New York Department of Financial Services (NYDFS) passed cybersecurity regulation 23 NYCRR 500, requiring all financial services companies to implement multi-factor authentication (MFA). During the NYDFS cybersecurity investigation from January 2020 to July 2021, they found that more than 18.3

Regulation 120

Regulation Security System New York 120

PYMNTS

JANUARY 15, 2021

To get a bit more granular, in an interpretive letter , the OCC said that regulated financial institutions (FIs) can participate in independent node verification networks (INVN for short – namely, a blockchain network). But those same payments mechanisms must be in compliance with various regulatory and legal frameworks.

Regulation 253

Regulation US Payments Compliance 253

PYMNTS

SEPTEMBER 30, 2020

Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. The pandemic is dramatically altering how merchants can transact, which data they can store and where they can store it, however.

Regulation 175

Regulation Data Regional Examples 175

CFPB Monitor

JANUARY 28, 2021

The CFPB has issued its Fall 2020 Semi-Annual Report to Congress covering the period April 1, 2020 through September 30, 2020. The new report indicates that the Bureau had 1,504 employees as of September 30, 2020, representing an increase of 74 employees from the number of employees as of September 30, 2019 (1,430).

Report 78

Report Leadership Lending Regulation 78

PYMNTS

NOVEMBER 11, 2020

The regulations will also hit Alibaba’s Ant Group, which took a beating last week after the government suspended its planned initial public offering (IPO). For example, the definition of “relative market” means that companies in a “dominant position” if they control more than 50 percent of the market would come under the new regulations.

Regulation 239

Regulation Branding Apple Retail 239

CFPB Monitor

FEBRUARY 13, 2020

On February 7, 2020, the California Attorney General’s (AG) Office released modifications to the proposed regulations to the California Consumer Privacy Act (CCPA). The modifications incorporate amendments to the CCPA signed into law after the AG’s Office issued the proposed regulations in October 2019.

California 78

California Regulation Compliance Guidelines 78

PYMNTS

MAY 8, 2020

In preparing to play … we will continue to make our decisions based on the latest medical and public health advice, in compliance with government regulations, and with appropriate safety protocols to protect the health of our fans, players, club and league personnel, and our communities,” NFL Commissioner Roger Goodell said in a statement.

Kansas City 130

Kansas City Houston Kansas Guidelines 130

PYMNTS

JANUARY 14, 2019

Vietnam wants to be a cashless society, according to a report in Financial Times , but bank regulations are hindering the country’s ability to do so. The government recently set a goal to reduce cash transactions in urban households in half by 2020. So, if a consumer doesn’t have a bank account in Vietnam , he can’t get an e-wallet.

Regulation 123

Regulation Payments Compliance Maine 123

FICO

NOVEMBER 27, 2019

Behind the headlines on financial crime compliance are big challenges. Many institutions expanded the size of their compliance headcount by over 500% in the past few years. billion a year on ensuring AML compliance. Financial crime compliance has become a real cost burden for most banks in times of shrinking profits.

Compliance 52

Compliance Fraud Regulation Trends 52