FICO

NOVEMBER 23, 2021

FICO has announced its panel of independent judges for the 2022 FICO® Decisions Awards , which honor businesses achieving outstanding results using analytics and decision management technology to grow their business, manage risk and reduce costs. 2022 Judges (Left to Right): Sidhartha Dash, Paul Deall, Senthil Erulappan, Armando Junior.

Meeting 52

Meeting Analytics Risk Management Management 52

FICO

AUGUST 3, 2022

Fraud Ideas from FICO World 2022 – and Excitement for 2023! FICO World 2022 was an excellent event with a stellar fraud protection and compliance track - here's some of what we learned. Wed, 08/03/2022 - 12:40. Convergence – Beyond Fraud and Financial Crime Compliance. Tue, 07/02/2019 - 02:45. by TJ Horan.

Fraud 52

Fraud Analytics Trends Innovation 52

CFPB Monitor

FEBRUARY 16, 2022

Around the nation, regulators are preparing to implement and enforce new consumer-like disclosure laws for small business commercial finance providers. New York regulators have yet to issue final regulations implementing the state’s Commercial Finance Disclosure Law (CFDL), which went into effect on January 1, 2022.

North Carolina 78

North Carolina Missouri Maryland Mississippi 78

Abrigo

APRIL 6, 2022

New Rule Outlines Computer-Security Incident Notification Obligations for Banks Financial institutions and their service providers should prepare to meet new computer-security notice requirements by May 1, 2022. . The new requirements become effective on April 1, 2022, but compliance is not required until May 1, 2022.

Security 195

Security Regulation District of Columbia United States 195

PYMNTS

FEBRUARY 8, 2018

banks before it can become interoperable with other nations’ schemes, according to Art Brieske, head of faster payments at JPMorgan Chase. Facilitating cross-border payments means resolving questions of regulatory compliance and foreign exchange, Brieske said. To achieve its true potential, though, RTP must be adopted by all U.S.

National 109

National Payments System Marketing 109

CFPB Monitor

JULY 29, 2022

On July 20, 2022, the Federal Trade Commission (“FTC”) and 18 state attorneys general led by New York Attorney General Letitia James announced that they have entered into a settlement with Harris Originals of NY, Inc. State regulators may also supervise MLA requirements pursuant to state law).

National 78

National Retail Regulation New York 78

South State Correspondent

JANUARY 4, 2023

A potential economic slowdown, slower rate rises, an inverted yield curve, and deposit stress likely make 2023 a trying year compared to 2022. Without the windfall of profit accrued to banks in 2022 because of faster-than-expected rate increases, banks will need to be better allocators of capital.

Community Bank 195

Community Bank Capital Training Lending 195

PYMNTS

NOVEMBER 12, 2020

The RTR is forecasted to roll out in 2022. EDPB Recommends Steps For Data Exporters To Ensure GDPR Compliance. Mastercard’s Vocalink’s offering supports the requirements of Payments Canada, such as the Bank of Canada’s risk management criteria and ISO 20022. It will be run by Payments Canada and regulated by the Bank of Canada.

Payments 142

Payments Fintech Exercises Risk Management 142

CFPB Monitor

AUGUST 23, 2022

The FDIC has issued new supervisory guidance (FIL-40-2022) on multiple non-sufficient funds (NSF) fees arising from the re-presentment of the same unpaid transaction. The FDIC discusses the following three categories of risk: Consumer compliance risk. Potential risks. Litigation risk.

FDIC 78

FDIC Compliance System Regulation 78

Abrigo

JANUARY 3, 2024

The Final Rule for Beneficial Ownership Reporting , issued in September 2022, establishes definitions for reporting provisions of the FinCEN BOI database. The final access rule does not dictate how to receive consent and allows for flexibility based on differences in FIs across the nation. Below is a short recap of each.

Fraud 221

Fraud Regulation Report Compliance 221

CFPB Monitor

APRIL 12, 2021

On March 31 st the CFPB rescinded seven policy statements , including statements that provided flexibility from supervisory or enforcement actions for loss mitigation and credit reporting activity in connection with the COVID-19 national emergency. CFPB issues mortgage servicing notice of proposed rulemaking.

Compliance 78

Compliance Policies Industry Strategy 78

Abrigo

FEBRUARY 10, 2022

AMLA will see changes in 2022 Now is an optimal time to evaluate the effectiveness of your beneficial ownership and due diligence program. . The notice is open for public comment until February 7, 2022. AML Compliance and Sanctions Requirements for Non-Bank Financial Institutions. 10 NBFI AML Compliance Essentials.

Training 195

Training Regulation Report Compliance 195

CFPB Monitor

APRIL 8, 2021

The full compliance date for the final rule is January 1, 2022. On April 1, 2021, the FDIC’s final rule issued in December 2020 revising its brokered deposits regulation became effective.

FDIC 78

FDIC Resources Regulation Compliance 78

CFPB Monitor

NOVEMBER 4, 2022

The UAD information is derived from more than 47 million appraisals conducted between 2013 and June 30, 2022. The FHFA also notes that in 2021 on a national basis, 15.2% As the name suggests, the UAD standardizes various data elements regarding an appraisal. of appraisals were below the contract sales price, 26.7%

North Carolina 78

North Carolina Charlotte Compliance National 78

Abrigo

NOVEMBER 17, 2023

billion to fraud in 2022, a 44% increase over the prior year and a trend that has continued into 2023. As overseers tighten the leash with stringent regulations aimed at protecting consumers, the cost of compliance grows. This is the first-time fraud has been addressed at a high level as part of AML compliance, but it makes sense.

Fraud 195

Fraud Training Trends Compliance 195

Perficient

MAY 27, 2022

In addition, the classification of cryptocurrencies as securities can create a unique compliance burden for SEC-registered investment advisers (RIAs) trading these instruments. This piece was written in collaboration with Chandni Patel, Director of Financial Services and member of Perficient’s Digital Assets Working Group.

cryptocurrency 332

cryptocurrency Regulation Management Bitcoin 332

Bobsguide

SEPTEMBER 13, 2022

In response to the growing drive for higher corporate governance standards – both globally and at a national market level – Broadridge Financial Solutions announced it has commenced live operations of its new “golden copy” event notification and direct vote execution service for the Danish market.

Meeting 88

Meeting Security Operations Marketing 88

CFPB Monitor

MARCH 3, 2022

Black and Hispanic people, and young and low-income individuals of all races and ethnicities, are more likely to have medical debt than the national average. As a result these populations may be more heavily impacted by outdated credit models that overestimate the predictiveness of medical debt.

Report 147

Report United States Policies Compliance 147

Abrigo

SEPTEMBER 6, 2023

With the inclusion of fraud as one of the eight Financial Crimes Enforcement Network ( FinCEN) national priorities , AML professionals must be fully aware of the latest fraud trends involving checks and red flags associated with suspicious activity.

Fraud 195

Fraud Trends Training System 195

CFPB Monitor

AUGUST 8, 2022

Eight national trade groups have filed a petition with the CFPB that urges the Bureau to engage in rulemaking to define larger participants in the market for data aggregation services.

Groups 78

Groups Data National Marketing 78

CFPB Monitor

FEBRUARY 28, 2022

In addition to the CFPB, the other agencies required to engage in the rulemaking are the Comptroller of the Currency, Federal Deposit Insurance Corporation, Federal Housing Finance Agency, Federal Reserve Board and National Credit Union Administration. The CFPB’s version of the joint rule will apply to non-depository institutions.

Lending 78

Lending Policies System Compliance 78

Abrigo

APRIL 26, 2022

The Financial Crimes Enforcement Network ( FinCEN ) has profiled this global issue by naming corruption one of the eight national security priorities. In 2004, the infamous Riggs Bank (Riggs) case brought political corruption to the top of compliance officers’ lists of reasons not to sleep at night. financial system. Learn More.

Training 195

Training Regulation System National 195

PYMNTS

AUGUST 6, 2019

Earlier this year, the country published the Philippine Digital Transformation Strategy 2022 initiative, a guide that explores government systems’ path to digitization. According to recent reports in Inquirer , the Philippines’ Department of Finance announced in June that it aims to complete the nation’s eInvoicing system by the end of 2022.

Regional 108

Regional Taxes System Guidelines 108

CFPB Monitor

JANUARY 19, 2022

federal district court has granted the motions filed by the CFPB and the Consumer Financial Services Association (CFSA) to dismiss the lawsuit brought by the National Association for Latino Community Asset Builders (NALCAB). (The The CFSA had intervened in the lawsuit.)

Resources 78

Resources Compliance Lending Industry 78

CFPB Monitor

DECEMBER 22, 2020

The final rule, which includes material differences from the FDIC’s proposal, becomes effective April 1, 2021, with full compliance extended until January 1, 2022. The national rate is currently calculated as a simple average of rates paid by all depository institutions and branches that offer and publish rates for specific products.

FDIC 78

FDIC Capital National Regulation 78

PYMNTS

NOVEMBER 22, 2018

New rules mean new compliance activities, which, of course, mean additional compliance costs for these stakeholders — as much as $489 million. Now comes the tipping point, said the industry group, where the ATMs may simply shuttered, ostensibly as the aforementioned compliance costs are too great to bear. “

ATM 187

ATM Payments Compliance Google 187

CFPB Monitor

OCTOBER 25, 2022

Following up on a threat it made back in 2018 , the New York State Department of Financial Services (DFS) announced on October 6, 2022 that it entered into a consent order with Rhinebeck Bank (“Rhinebeck”) to settle discrimination claims involving discretionary dealer markups on retail installment contracts with minority borrowers.

New York 78

New York Lending Community Bank Community 78

Abrigo

JUNE 13, 2022

According to the National Council on Aging (NCOA), this heartless crime is most likely under-reported due to victims' embarrassment. billion annually. Top 10 Regulatory Topics NBFIs Should Prepare for in 2022. Top 10 Regulatory Hot Topics for 2022 – What AML Professionals Need to Know. Learn More. BSA Rules and Regulation.

Fraud 195

Fraud Training United States Survey 195

CFPB Monitor

DECEMBER 5, 2022

On December 1, 2022, nationwide used car dealer CarMax Auto Superstores, Inc. CarMax has 180 days to implement these practices, and has agreed to compliance monitoring for a period of five years. The settlement resolves an investigation into CarMax’s advertising and sales practices related to vehicle recalls since 2014. .

Rhode Island 78

Rhode Island West Virginia South Carolina North Carolina 78

FICO

JULY 31, 2019

These steps can help businesses in the US and other countries not only meet regulatory compliance requirements but ensure they understand and can manage the risk of their vendor and partner networks. Would there be compliance exposure in the event of a breach at the supplier? Obtain evidence of ongoing compliance with standards (e.g.,

Cyber Security 70

Cyber Security Management Security Risk Management 70

Abrigo

FEBRUARY 24, 2022

In 1997, all members of the Federal Financial Institution Examination Council (FFIEC) except the National Credit Union Administration, added the “S” (Sensitivity to Market Risk) measure to the CAMELS rating to account for interest rate sensitivity within institutions. Top 5 ALM Best Practices for 2022. Sources of interest rate risk.

Management 195

Management Analysis Strategy Policies 195

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

SEPTEMBER 19, 2022

Statutory or regulatory changes, and international-cooperation initiatives, “designed to address the challenges in gathering evidence of crimes related to digital assets[,]” including laws requiring record preservation or enhanced penalties for non-compliance with legal process.

Report 78

Report cryptocurrency Training Guidelines 78

PYMNTS

OCTOBER 9, 2018

Community bank representatives at the recent AICPA National Conference on Banks and Savings Institutions noted that some have only one expert designated to implement the standards. However, small community banks without such resources are sounding their concerns.

Community Bank 153

Community Bank Community Report Lending 153

Abrigo

JUNE 4, 2023

The consequences of noncompliance While pulling back on AML compliance spending is tempting, it is especially important today that financial institutions have a robust AML program. Takeaway 2 Recent cases have shown that now is not the time to let up the gas on AML compliance. BSA enforcement actions are on the rise. When the U.S.

Compliance 195

Compliance Training Resources Regulation 195

PYMNTS

OCTOBER 19, 2020

Banks are typically required to establish direct links with financial institutions (FIs) in other nations to make or receive cross-border payments. Cross-border payments between businesses are expected to reach $35 trillion by 2022 and 2024 could see up to $240 billion in person-to-person (P2P) payments.

Technology 193

Technology Payments Security Survey 193

CFPB Monitor

MARCH 15, 2022

The rules provide that a loan made by a national bank, federal savings association, or federally-insured state-chartered bank that is permissible under applicable federal law (Section 85 of the National Bank Act (NBA) or Section 27 of the Federal Deposit Insurance Act (FDIA)) is not affected by the sale, assignment, or other transfer of the loan.

California 78

California Innovation Utah West Virginia 78