BankInovation

NOVEMBER 16, 2023

Open banking regulation is in the works — finally. The Consumer Financial Protection Bureau (CFPB) announced in October 2022 a plan to propose a rule in 2023 requiring financial institutions to share consumer data upon request by the consumer. One year later, on Oct.

Innovation 71

Innovation Regulation Data Retail 71

Independent Banker

DECEMBER 31, 2021

What changes will 2022 bring? And as local economies continue to stabilize and many challenged industries bounce back, 2022 may be the year community bankers put the rubber to the road by revisiting goals and turning them into action items. Regulators haven’t yet broached the subject with them. What will drive profit in 2022?

Community Bank 144

Community Bank Community Lending Louisiana 144

CFPB Monitor

JUNE 15, 2022

The California Department of Financial Protection and Innovation (DFPI) has issued final regulations to implement SB 1235, the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances. .

California 78

California Regulation CA Utah 78

FICO

AUGUST 8, 2022

2022 Data Science and AI Predictions Revisited. Thu, 05/12/2022 - 07:46. Mon, 08/08/2022 - 15:30. In the past couple of weeks, vacationing off the grid in Alaska , I’ve had a chance to think about how prescient my 2022 predictions for AI and data science may or may not be. Where Are We Now? Saxon Shirley. by Scott Zoldi.

Data 96

Data Analytics San Diego Alaska 96

Independent Banker

NOVEMBER 30, 2022

In our annual workplace survey, employees of ICBA’s best community banks to work for told us they benefit from engaging cultures, opportunities for advancement and innovative benefits. What do community bank employees reveal about their workplaces and the industry more broadly in 2022? What great resignation? LESS THAN $250 MILLION.

Community Bank 169

Community Bank Community Montana Leadership 169

CFPB Monitor

OCTOBER 26, 2022

The cross-complaint explains that “[b]ecause DFPI did not submit its ‘true lender doctrine’ to the APA’s rule making process, it is invalid as an ‘underground regulation’ and cannot be enforced.” violated the rulemaking requirements of the APA and is therefore invalid.”.

Regulation 78

Regulation California Meeting Innovation 78

PYMNTS

NOVEMBER 12, 2020

Providing Canadians and Canadian businesses with access to faster, data-rich payment options will enable innovation, support the long-term growth of the economy, and strengthen our global competitiveness.”. The RTR is expected to launch in 2022 and will be operated by Payments Canada and regulated by the Bank of Canada.

Payments 345

Payments Innovation Risk Management System 345

Perficient

JANUARY 23, 2024

The COVID-19 pandemic prompted several unprecedented shifts in society, notably impacting the workplace and necessitating the adoption of innovative technologies that facilitate collaboration and efficiency in a work-from-home (WFH) environment. This post has been updated to reflect FINRA Regulatory Notice 24-02, issued January 23, 2024.

Compliance 221

Compliance Regulation Industry Maine 221

CFPB Monitor

MAY 3, 2021

On April 23, 2021, the California Department of Financial Protection and Innovation (“DFPI”) issued proposed regulations to implement the Debt Collection Licensing Act (“DCLA”). Comments can be sent by email to regulations@dfpi.ca.gov or by regular mail to Department of Financial Protection and Innovation, Attn: Sandra Sandoval, 300 S.

California 78

California Regulation Los Angeles Innovation 78

CFPB Monitor

AUGUST 12, 2021

SB 1235 requires the DFPI to issue regulations implementing the specific requirements of the disclosures that must be given to recipients. Compliance with the new disclosure requirements is not required until the DFPI’s final regulations become effective. million or less and delayed the effective date to January 1, 2022.

CA 78

CA Regulation California New York 78

Perficient

JANUARY 3, 2024

The COVID-19 pandemic prompted several unprecedented shifts in society, notably impacting the workplace and necessitating the adoption of innovative technologies that facilitate collaboration and efficiency in a work-from-home (WFH) environment. What’s New?

Compliance 221

Compliance Risk Management Regulation Industry 221

CFPB Monitor

JUNE 29, 2022

The California Department of Financial Protection and Innovation (DFPI) has issued proposed regulations implementing certain provisions of the state’s Consumer Financial Protection Law (CFPL). Comments must be submitted by August 8, 2022.

California 78

California Regulation Innovation Management 78

FICO

DECEMBER 20, 2021

However, 2022 should signal a change. After more than a decade of waiting, the Consumer Financial Protection Bureau will issue long-awaited regulations, in accordance with section 1033 of the Dodd-Frank Act , that provide consumers with a right of access to their financial information.

Policies 52

Policies DC Regulation Industry 52

CFPB Monitor

SEPTEMBER 29, 2021

The New York Department of Financial Services has issued a proposed regulation to implement S 5470–B , which requires consumer-like disclosures for “commercial financing” transactions of $2.5 The proposed regulation would give the provisions added by S 5470-B to the Financial Services Law the title “Commercial Finance Disclosure Law” (CFDL).

Regulation 78

Regulation New York California Examples 78

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

FICO

DECEMBER 14, 2021

As we move forward into 2022, we are seeing the first signs of some interesting trends that will pick up pace across borders. As such, we’ve seen a slow emergence of a black market for the sale of fake vaccine passports and it is on its way to becoming a lucrative industry in 2022. Related scams have also been on the rise.

Fraud 52

Fraud Management Data Trends 52

CFPB Monitor

JANUARY 12, 2021

The CCFPL gives the California Department of Financial Protection and Innovation (DFPI) (the new name given to the state’s Department of Business Oversight) broad jurisdiction and sweeping new authorities that closely resemble those of the CFPB. The California Consumer Financial Protection Law (CCFPL) became effective on January 1, 2021.

Exercises 127

Exercises California Innovation Financial Technology 127

CFPB Monitor

SEPTEMBER 12, 2022

On September 9, 2022, the California Department of Financial Protection & Innovation (the “DFPI”) released a Notice of Proposed Rulemaking Action that proposes to adopt regulations implementing the Student Loan Servicing Act (section 28100, et seq.)

California 78

California Regulation Innovation Payments 78

PYMNTS

FEBRUARY 5, 2020

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. The General Data Protection Regulation (GDPR) turns two in May, and just like a toddler, it’s messing things up­ (for some).

Google 288

Google Data Regulation social media 288

Bobsguide

MARCH 24, 2022

Finastra and CloudMargin Collateral Management as a Service offering accelerates compliance with UMR regulation. It’s estimated that the new Phase 6 of UMR, due to come into effect in September 2022, will affect 1,000 additional entities for the first time. For further information please contact: Caroline Duff. Global Head of PR.

Compliance 60

Compliance Management Regulation Software 60

FICO

JUNE 22, 2022

6 Digital Transformation Trends Highlighted at FICO World 2022. Wed, 06/22/2022 - 12:30. Innovation in digital transformation and emerging trends were firmly front-of-mind this year at FICO World 2022. FICO World 2022: Digital Transformation Success Stories. Tue, 07/02/2019 - 02:45. expand_less Back To Top.

Trends 52

Trends Data Customer Experience Analytics 52

CFPB Monitor

JULY 5, 2022

a)(14) of Regulation Z, and that Payactiv therefore had a safe harbor from liability under the TILA and Regulation Z in connection with the specified EWA program. In January 2022 , Seth Frotman, now CFPB General Counsel, indicated that more clarity on EWA products was needed from the CFPB.

Regulation 78

Regulation Policies Innovation Analysis 78

FICO

JANUARY 10, 2023

Top 5 Fraud Posts for 2022: Scams, Contactless and Money Mules. Here are the five most-viewed posts from 2022 on the FICO Blog related to fraud. Fraud Trends for 2022: Top 5 Includes "Scamdemic" and Bad Bots. Innovative Customer Communications for Fraud. Card Skimming Fraud Grows 700+% in First Half of 2022.

Fraud 52

Fraud Cards Analytics Oakland 52

CFPB Monitor

AUGUST 1, 2022

The FHFA also issued a request for information (“RFI”) seeking public input on how to facilitate responsible innovation, identify barriers or challenges to implementing fintech into housing finance, support equity for homeowners and renters, and increase efficiency and effectiveness in the compliance and regulatory processes.

Financial Technology 78

Financial Technology Technology Fintech Compliance 78

CFPB Monitor

JUNE 14, 2022

The NAL provided that while it remained in effect, the Bureau would not make supervisory findings or bring a supervisory or enforcement action against Upstart under (1) the ECOA or Regulation B for discriminating against an applicant on a prohibited basis or for discouraging an applicant on a prohibited basis, or (2) the Bureau’s UDAAP authority.

Innovation 148

Innovation Analysis Resources Compliance 148

PYMNTS

JANUARY 18, 2022

The CEO and CFO of the BitMEX cryptocurrency derivatives exchange announced today that they have reached an agreement to purchase a 268-year-old German bank in order to establish “a one-stop shop for regulated crypto products in Germany, Austria, and Switzerland.”. Regulated” is a word Höptner returned to repeatedly in the announcement.

Regulation 169

Regulation cryptocurrency Groups Innovation 169

CFPB Monitor

JUNE 15, 2022

The California Department of Financial Protection and Innovation (DFPI) has issued proposed regulations to implement provisions of the California Consumer Financial Protection Law (CCFPL) pertaining to consumer complaints and inquiries. Comments are due by July 5, 2022.

California 78

California Regulation Report Policies 78

FICO

JANUARY 13, 2022

A mass of digital solutions and fintech innovations offering real-time Open Banking data alongside transactional insight into customer affordability and vulnerability are being touted to Tier-1 lenders. Regulation also continues to pose demands on already stretched back-offices juggling limited budgets, manpower and bandwidth challenges.

Industry 52

Industry Operations Regional Analytics 52

CFPB Monitor

SEPTEMBER 12, 2022

On September 7, 2022, newly-appointed Vice Chair for Supervision at the Federal Reserve (the “Fed”), Michael S. Finally, Barr reiterated the Fed’s commitment to CRA reform and continuing the efforts led by the previous Vice Chair to strengthen and modernize CRA regulations.

System 78

System Capital Regulation Analysis 78

CFPB Monitor

JULY 14, 2022

On July 8, with limited fanfare, the Department of Treasury issued a request for public comment regarding the March 9, 2022 Executive Order entitled “Ensuring Responsible Innovation in Digital Assets” (the “Order”). Nonetheless, the request for comment sets a deadline of only 30 days – August 8, 2022 – for responses.

United States 78

United States Leadership Policies Regulation 78

Abrigo

DECEMBER 17, 2021

Takeaway 1 Having a cohesive vision from the top down is critical to a culture of innovation and the successful adoption of new software. . It’s great that more financial institutions are welcoming technological innovations, but banks and credit unions must consider the long-term impact of their partnerships. DOWNLOAD WHITEPAPER .

Fintech 195

Fintech How To Innovation System 195

CFPB Monitor

SEPTEMBER 10, 2020

As part of California’s recent triad of consumer financial services legislation, including AB-1864 , which creates the Department of Financial Protection and Innovation and the California Financial Protection Law, and AB-376 , which includes a new Student Loan Borrower Bill of Rights.

California 122

California Regulation Innovation Lending 122

Bobsguide

MAY 12, 2022

2022 — Murex , the global leader in trading, risk management and processing solutions for capital markets, has?won?the category at the FTF News Technology Innovation Awards 2022. and its unwavering commitment to product innovation. PARIS, May 12,?2022 the Software Solution of the Year?category Murex’s MX.3

Software 78

Software Innovation Risk Management Capital 78

PYMNTS

FEBRUARY 7, 2020

In today’s top payments news, Uber reported positive fourth quarter earnings, NYSE owner International Exchange said it will not pursue plans to buy eBay and Afterpay pushed back against RBA’s potential regulation of “tap and go” fees. Afterpay Pushes Back Against Australia’s Fee Regulation. The fashion market is set to generate $712.9

Payments 130

Payments Regulation New York Survey 130

BankUnderground

MAY 15, 2024

These models form the bedrock of revolutionary technologies like large language models (LLMs), opening up new ways for regulators, such as the Bank of England, to analyse text data for prudential supervision and regulation. Analysing text data forms a core part of regulators’ day-to-day work.

Training 68

Training Regulation Policies Data 68

PYMNTS

AUGUST 19, 2019

There are billions of devices in the world helping to monitor and regulate everything from room temperatures to restocking the fridge. Data: $1 trillion: Projected value of global IoT spending in 2022. Devices are everywhere – and are now intelligent and interacting with us through all manner of daily routines.

Analytics 192

Analytics Regulation Data US 192

CFPB Monitor

MARCH 15, 2022

The OCC’s attempt to provide a clear bright line test for determining when a bank is the “true lender” in a bank-model program through a regulation was overturned by Congress under the Congressional Review Act.) In addition to “true lender” threats, non-bank participants in bank-model programs will continue to face state licensing threats.

California 78

California Innovation Utah West Virginia 78