Perficient

AUGUST 16, 2023

On Monday, July 31, 2023, all four branches of Heartland Tri-State Bank were reopened as Dream First Bank branches. The FDIC’s Division of Liquidation then brokered a deal for Dream First Bank, a National Association of Syracuse, Kansas, to take over the branches of Heartland Tri-State Bank.

United States 221

United States Kansas FDIC Risk Management 221

Cisco

APRIL 2, 2024

Record-Breaking Security Vulnerabilities in 2023 According to data from Statista , the amount of vulnerabilities recorded in 2023 hit a record number with 29,000 new vulnerabilities reported. This is… Read more on Cisco Blogs

Compliance 62

Compliance Security Data Report 62

Perficient

FEBRUARY 15, 2024

The announcement of significant amendments to the DFS500 regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector. Impacted institutions are subject to significant fines relative to the level of non-compliance identified by the regulators.

Compliance 221

Compliance New York Regulation Analysis 221

Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector.

New York 221

New York Compliance Regulation Analysis 221

Banking Exchange

JANUARY 16, 2023

Chief risk officers say they are seeing cybersecurity risks everywhere, new survey shows Risk Management Feature3 Feature Cyberfraud/ID Theft Compliance/Regulatory Operational Risk Security

Risk Management 139

Risk Management Compliance Survey Security 139

Abrigo

MAY 30, 2023

DOWNLOAD Takeaway 1 The effective date of the CFPB's new rule based on Section 1071 of the Dodd-Frank Act is June 28, 2023. But compliance deadlines are tiered. Takeaway 2 Reporting tiers and their deadlines are based on the number of covered transactions to small businesses that a lender originated in 2022 and 2023.

Compliance 195

Compliance Lending Data Regulation 195

Cisco

JANUARY 23, 2024

Cyber security attacks in 2023 reached a new level of sophistication as significant supply chain attacks and evolved malware tools have accelerated the risk facing financial institutions. With… Read more on Cisco Blogs

Cyber Security 62

Cyber Security Security Analytics Tools 62

Perficient

JANUARY 23, 2024

However, as remote work has become the new norm, the Securities Exchange Commission (SEC) has provided its approval to revise Rule 3110, easing the requirements for brokers choosing to work from home. Additionally, these branches underwent annual on-site inspections to ensure compliance with regulations.

Compliance 221

Compliance Regulation Industry Maine 221

Perficient

JANUARY 3, 2024

However, as remote work has become the new norm, the Securities Exchange Commission (SEC) has provided its approval to revise Rule 3110, easing the requirements for brokers choosing to work from home. Additionally, these branches underwent annual on-site inspections to ensure compliance with regulations.

Compliance 221

Compliance Risk Management Regulation Industry 221

PYMNTS

OCTOBER 16, 2019

The Cost of Compliance. Scandal and fraud tarnishing banks’ reputations aside, the impact that AML compliance controls have had on these banks’ bottom lines can’t be underestimated. And yet, per that same study, 30 percent rate at least one of their AML components as being either “not at all” or only “somewhat” effective.

Compliance 123

Compliance Fraud Study Digital Banking 123

FICO

NOVEMBER 21, 2022

FICO Ranks Top 5 in the 2023 Chartis RiskTech100® Report. FICO awarded first place in six categories on risk and compliance technology in the 2023 Chartis RiskTech100 ® Report, including Innovation for the sixth year in a row. asokolowski. Fri, 06/03/2022 - 12:24. by Darryl Knopp. expand_less Back To Top.

Report 52

Report Risk Management Compliance Analytics 52

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 221

Training Compliance Fraud Policies 221

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 195

Training Compliance Fraud Policies 195

Perficient

AUGUST 26, 2022

Agency debt securities. Asset-backed securities (ABS). Agency pass-through mortgage-backed securities (MBS). Collateralized debt obligations (CDO) and commercial mortgage-backed securities (CMBS). After announcing the proposed change, FINRA adjusted the online version of the rulebook to expire on May 14, 2023.

Report 275

Report DC Security System 275

Abrigo

JANUARY 24, 2024

FDIC list The state of acquisitions in a rising rate environment According to the FDIC, there were 44 banks on the problem bank list in the third quarter of 2023, and the agency expects that number to continue to climb in 2024. Watch this webinar, "Understanding audit and regulatory expectations for CECL."

FDIC 195

FDIC Regulation Strategy Data 195

FICO

DECEMBER 20, 2022

5 Ways Digital Payments Will Change FIs and Fraud in 2023. As I look back on 2022, I’m reluctant to lean too far into predictions for 2023. But I’ll still weigh in with prognostications for 2023. Buy-Now-Pay-Later Will Win on Customer Experience but Needs Enhanced Security. FICO Admin. Tue, 07/02/2019 - 02:45.

Fraud 52

Fraud Payments South Carolina Compliance 52

Abrigo

MAY 24, 2023

Download now Takeaway 1 Under current federal law, banks and credit unions face federal prosecution and penalties if they provide services to legal marijuana-related businesses. Takeaway 2 Considering the urgent need for a legislative solution, the SAFE Banking Act of 2023 could bridge the gap between state and federal marijuana laws.

Lending 195

Lending Fraud Operations Ohio 195

Abrigo

JUNE 19, 2022

New Fed Tool: ELE for 2023 CECL implementation The Federal Reserve's new Expected Loss Estimator, or ELE, tool for CECL is a spreadsheet-based option for smaller financial institutions to implement the current expected credit loss standard. You might also like these webinars especially for 2023 CECL adopters: "CECL Streamlined."

Tools 195

Tools Regulation Data Resources 195

CFPB Monitor

DECEMBER 8, 2022

Coupled with this addition is a breach notification exception for businesses that are (1) subject to and (2) in compliance with HIPAA’s privacy and security standards. The changes are effective in May 2023. Pennsylvania’s addition of the HIPAA exemption brings the state’s framework in line with the majority of U.S.

Pennsylvania 78

Pennsylvania Data California Compliance 78

Abrigo

FEBRUARY 14, 2023

Data collection requirements The CFPB 1071 rule is a top compliance concern According to a recent survey , financial institution executives’ top regulatory compliance concern is the final rule from the Consumer Financial Protection Bureau (CFPB) on data collection for small business loan applications. What data must be collected?

Data 195

Data Lending Compliance Resources 195

Abrigo

FEBRUARY 9, 2024

Treasury Secretary Janet Yellen said in  March 2023 that illicit actors  laundered at least $2.3 residential real estate sector but safeguarding our economic and national security.” Know the red flags for money laundering. The January 2023 alert to financial institutions, Potential U.S. billion through U.S.

Training 195

Training Fraud Trends Report 195

Perficient

MARCH 17, 2023

Blockchain solutions help companies, and their customers, use data to securely handle supply chain disruptions and build resiliency into the visibility process. A properly designed construction action plan on Yankee Stadium in 1974-75 using 2023 technology would likely have each worker scan into the construction site.

blockchain 275

blockchain Management Data Security 275

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

NOVEMBER 16, 2022

The FTC voted unanimously to extend that December 9 date to June 9, 2023. Indeed, between the holidays and state law compliance initiatives, the new deadline will also soon be rapidly approaching. . While the new deadline certainly provides breathing rom, companies should not take it as an opportunity to delay.

Training 78

Training Security Compliance Meeting 78

American Banker

DECEMBER 26, 2023

Despite the surge in tips to the Securities and Exchange Commission in fiscal year 2023, the number of whistleblowers receiving awards dropped sharply.

Security 68

Security Compliance Regulation 68

PYMNTS

FEBRUARY 4, 2020

Numerous regions then announced internal deadlines for compliance that often diverged from their neighbors’ deadlines. The sweeping compliance requirements affect all members, but execution can differ country by country. Security Concerns Mount . 31, 2020 as the new SCA compliance deadline, but the U.K. France, the U.K.

Fraud 144

Fraud Regulation Compliance Innovation 144

PYMNTS

OCTOBER 29, 2020

trillion by 2023. Customers expect payments to be as fast and friction-free as any other part of their digital lives, and providers are faced with the challenge of meeting this expectation while also ensuring that payments are secure and compliant with regulatory requirements. How Cloud Innovations Augment Business Payments.

Payments 213

Payments Fraud Meeting Security 213

Abrigo

JANUARY 3, 2024

Takeaway 2 A December 2023 final rule establishes guidelines for who may access BOI and for what purposes. The second FinCEN rule describing changes to reporting on ownership is the Beneficial Ownership Information Access and Safeguards Final Rule , which was issued in December 2023. Beginning Feb.

Fraud 221

Fraud Regulation Report Compliance 221

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

Bobsguide

SEPTEMBER 13, 2022

Our collaboration with Broadridge will provide a more direct chain of proxy communications, and a higher level of service quality for all players,” said Niels Hjort Rotendahl, CEO, Euronext Securities Copenhagen.

Meeting 88

Meeting Security Operations Marketing 88

PYMNTS

FEBRUARY 18, 2020

This creates new security challenges as firms must learn to centrally manage their fraud protection methods while also gauging threats across many different channels. FIs and PSPs in Europe are particularly interested in robust fraud-busting technologies for SCA compliance, which is mandated under PSD2.

Fraud 131

Fraud Customer Experience Compliance Survey 131

CFPB Monitor

JULY 25, 2022

The Federal Reserve Board issued a proposa l last week that would establish default rules for benchmark replacements in certain contracts that use as a reference rate the London Interbank Offered Rate (LIBOR), which will be discontinued in 2023. The proposal implements the Adjustable Interest Rate (LIBOR) Act, which was enacted in March 2022.

Regulation 78

Regulation Cards Compliance Examples 78

PYMNTS

OCTOBER 9, 2019

9) from the Business Standard , and through Money Control , that there are compliance issues tied to data processing regulations that may keep the payment service from launching by the end of this year, as has been anticipated. In India, a delay for WhatsApp Pay? Reports came Wednesday (Oct.

Compliance 139

Compliance Regulation Data Payments 139

Abrigo

JANUARY 24, 2024

For example, an ATM scheme that operated through July 2023 targeted credit unions in six states, stealing nearly $6 million. Identify what occurs when ACWP is used and ensure compliance with Reg CC and FedNow operating procedures. Faster Payments Council, said in a video interview with Information Security Media Group.

Fraud 221

Fraud Payments Software Policies 221

Abrigo

MARCH 21, 2023

4.75% over the course of 2022 and 2023. With signs continuing to point toward additional rate hikes, albeit smaller, many financial institutions are uncertain how they can and should manage their balance sheets to effectively combat interest rate risk both in the present moment and to come in 2023 and beyond. billion – a 39.7%

Risk Management 195

Risk Management Management Strategy Lending 195

Abrigo

JANUARY 27, 2020

From the Bank Secrecy Act and anti-money laundering (BSA/AML) compliance, cybersecurity, credit risk, the implementation of the new standard for current expected credit losses (CECL), consider these goals for your credit union in 2020. . Don’t wait for examinations, or even worse, a breach in security to begin focusing on cyber threats.

Risk Management 195

Risk Management Regulation Management Report 195

Bank Innovation

APRIL 3, 2019

billion by 2023. Regulations such as PSD2 and GDPR (General Data Protection Regulation) have put regtech companies at the front and center of the global fintech ecosystem. In fact, a recent report shows that the global regtech market is expected to grow from $4.3 billion last year to $12.3 With such strong tailwinds behind the […].

Regulation 170

Regulation Fintech Data Marketing 170