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.

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New York Compliance Regulation Analysis 221

Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence Perficient’s Risk and Regulatory Center of Excellence (CoE) remains at the forefront of evolving financial rules and regulations, ensuring readiness to tackle emerging challenges and safeguard financial institutions and its customers.

Compliance 221

Compliance New York Regulation Analysis 221

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. Find out what auditors and regulators will be looking for as it relates to CECL.

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FDIC Regulation Strategy Data 195

CFPB Monitor

FEBRUARY 28, 2024

On December 21, 2023, the New York Department of Financial Services (“DFS”) published guidance (the Guidance) to assist regulated institutions in assessing and managing their climate-related financial and operational risks. Continue Reading

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New York Regulation Operations Management 78

American Banker

DECEMBER 26, 2023

JPMorgan Chase and Citigroup were among the banks that voluntarily reported new information this year about the impact of their operations on climate change. The additional disclosures came in advance of new regulations that are expected in 2024 from the Securities and Exchange Commission.

Regulation 90

Regulation Security Operations Report 90

The Paypers

OCTOBER 1, 2023

Cryptocurrency exchange Gemini has announced it will halt operations in the Netherlands due to its inability to meet the regulators’ requirements.

Operations 41

Operations cryptocurrency Meeting Regulation 41

Perficient

JULY 12, 2023

Perficient provides risk management to more than 500 financial services organizations, many of whom have multiple bank regulators. Often an organization will have a state-charted non-member bank, which has the FDIC as its primary federal regulator.

Management 221

Management Risk Management Regulation Compliance 221

Abrigo

DECEMBER 22, 2023

The most-read lending & credit blogs in 2023 Probability of default, CECL model validation, and stress testing were among Abrigo's top blogs on ALM, CECL, and portfolio risk this year. download NOW Takeaway 1 The most popular blog posts on the Abrigo site reflect many of the priorities community banks and credit unions had in 2023.

Lending 221

Lending Risk Management Community Management 221

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."

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Tools Regulation Data Resources 195

Perficient

AUGUST 5, 2021

The FedNow Service is a new 24x7x365 service that will support instant payments in the United States and is expected to be available in 2023. Interbank wires will now move funds faster than Venmo. The Board extended the comment period to allow interested persons more time to analyze the proposal and prepare their comments.

DC 309

DC United States Washington Regulation 309

FICO

DECEMBER 1, 2022

4 AI Predictions for 2023: From the Great Correction to Practical AI. A pragmatic approach I call Practical AI will rise in 2023 like a phoenix from the ashes of years of irrational exuberance around artificial intelligence. Here are my predictions for Practical AI in 2023: 1. JessicaButalla@fico.com. Tue, 07/19/2022 - 16:11.

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Analytics Phoenix San Diego Tools 98

FICO

JULY 6, 2023

New regulatory considerations are emerging, like the Payment Systems Regulator issuing new liability frameworks in the UK. How FICO Helps Your Enterprise Fraud Management Strategy Check out the recent FICO World 2023 fraud presentations Explore FICO’s award-winning Retail Banking model 3.0 Debbie holds a B.A.

Fraud 52

Fraud Management Customer Experience San Diego 52

South State Correspondent

MAY 9, 2023

The regulators are considering three options: raising the limit above $250k, raising the cap for only certain accounts (such as banks’ business accounts), or eliminating the cap entirely. With the collapse of First Republic Bank, the 2023 total of failed bank assets is now a new annual record – as shown in the graph below.

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FDIC Regulation Capital Management 195

Perficient

MAY 15, 2023

Additionally, maintaining clear, comprehensive data systems promotes business ethics and adherence to laws and regulations enforced by regulatory bodies. Want to learn more about financial services industry-specific considerations for improving operational efficiency through data optimization?

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Data Conference New York City New York 275

Abrigo

JANUARY 6, 2023

Increasingly, recruiters and operators of walkers advertise their mules on underground Telegram channels. Instead, they interact directly with a walker operator who oversees the deposit attempts. Operators aim to make their walkers look like legitimate customers to avoid any hassle at a branch. BSA Rules and Regulation.

Fraud 195

Fraud Regulation Training Operations 195

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

FICO

JANUARY 19, 2023

While UK support will continue through 2023, and possibly into 2024, we can expect to see it provided on a more targeted basis as governments face rising debt burdens as a proportion of GDP. Here are my three predictions for risk management and customer treatment in 2023. The challenge will be further exacerbated as an estimated 1.4

Lending 52

Lending Strategy Analytics Data 52

Bank Innovation

APRIL 3, 2019

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

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Regulation Fintech Data Marketing 170

CFPB Monitor

OCTOBER 21, 2021

The CFPB, Federal Reserve Board, FDIC NCUA, OCC, in conjunction with the state bank and state credit union regulators, jointly issued a statement on managing the transition away from LIBOR (Joint Statement). The Joint Statement indicates that in March 2021, the FCA announced that the one-week and two-month U.S.

Regulation 78

Regulation Management FDIC Risk Management 78

PYMNTS

MARCH 8, 2019

Consumers in the European Union (EU) are adjusting to Payments Service Directive 2 (PSD2) and General Data Protection Regulation (GDPR), even though these regulations focus on bringing greater trust through transparency. 579 million: The number of biometric cards that will be in use by 2023. All this, Today in Data.

ATM 189

ATM Regulation Fraud Data 189

FICO

JUNE 19, 2023

As Sven Krüssel noted, regulation is the big issue here because the banks are still unsure of what the rules allow. Other banks, on the other hand, send an SMS with the sender, which account is involved, and then it says that you are in arrears. This means the data protection officers often want to play it safe with a conservative view.

Strategy 52

Strategy Trends Examples Management 52

CFPB Monitor

JULY 20, 2022

In 2017, the United Kingdom’s Financial Conduct Authority (FCA), the regulator that oversees the panel of banks on whose submissions LIBOR is based, announced plans to discontinue LIBOR after 2021. The FCA subsequently announced that no LIBOR indices will be available after June 30, 2023.

New York 78

New York Security Operations Regulation 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. FinCEN, however, does not actually conduct BSA/AML examinations of regulated businesses. It is unclear if Congress expects FinCEN to conduct these audits.

United States 78

United States Taxes Regulation Compliance 78

FICO

MARCH 7, 2023

Home Blog FICO Responsible AI: Are European Firms Ready for the Regulators? There are significant changes coming in Europe, which highlight getting a handle on responsible AI use, with the banking and financial services sector among those that will be most impacted by increasing regulation.

Regulation 52

Regulation America Compliance Fraud 52

South State Correspondent

APRIL 9, 2024

Borrowers that locked short-term financing in 2022 and 2023 will be faced with higher payments for loans repricing today (term rates have adjusted upwards). NOCRE is already scrutinized by bank regulators. cuts through the end of the year.

How To 195

How To Community Community Bank Marketing 195

Abrigo

DECEMBER 19, 2022

Checklists, guides, and more to help you and your AML-CFT staff Thousands of FinCrime professionals have accessed these guides, checklists, and other resources produced in 2022 by Abrigo's team, which includes former bankers, BSA officers, and regulators. . Would you like other articles like this in your inbox? From crypto to cannabis.

Resources 195

Resources Training Fraud Compliance 195

PYMNTS

FEBRUARY 7, 2020

The National Payments Corporation of India (NPCI) provided the firm with permission to put WhatsApp Pay into operation in a phased manner, The Business Standard reported. . There are forecasted to be over one billion mobile phone users in the country, and the digital payments market could have a value as high as $1 trillion by 2023.

Mobile 267

Mobile Compliance Payments National 267

PYMNTS

JUNE 24, 2020

The B2B firm said it works with “leading money transfer operators, mobile wallet operators and financial institutions to facilitate digital transactions without borders,” and is regulated in more than 45 countries around the world. That’s up from $601 billion in 2016.

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Payments Fintech Course Operations 243

Abrigo

OCTOBER 14, 2022

Takeaway 3 Utilize regulatory guidance to understand regulators' expectations, which are likely to include consistent stress testing. In a recent Abrigo webinar, four experts weighed in to pinpoint the following areas for focus and improvement in 2023. Get to know regulator expectations and priorities. Cultivate talent.

Risk Management 195

Risk Management Management Policies Lending 195

The Banker

JANUARY 25, 2023

With AML compliance at the top of the FCA’s enforcement agenda for this year, we highlight important focus points for banks and other regulated firms operating in the UK. By Ruby Hamid, Anthony Asindi, Matthew Russell and Tristan Bramble of law firm Ashurst.

Compliance 36

Compliance Regulation Operations 36

PYMNTS

DECEMBER 18, 2019

UK Regulator Looks To Expand Open Banking Beyond Banking. Apple Expected To See Booming Wearables Demand Through 2023. The International Data Corporation forecasted the worldwide “earwear” market to nearly double by 2023. Marijuana companies are hurting from a looming cash crunch and restrictive regulations in the U.S.

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Apple Fraud Payments Regulation 130

Abrigo

SEPTEMBER 7, 2023

Often, those alerts mostly likely are routed to the operations area of the financial institution. The operations area should communicate with the BSA/AML area if this function is failing. ACH warnings/exceptions matter. Don’t ignore warnings and exceptions generated from the ACH system. Raise your hand about ACH risks.

Fraud 221

Fraud Training System Trends 221

Jeff For Banks

APRIL 4, 2024

Shadow Banking refers to banking-like operations that take place outside of the mainstream banking industry. Shadow bank lending is similar to bank lending but is not subject to the same regulations, and compensating deposit balace requirements. and 53% indirect costs: operations, IT, human resources, etc.

Banking Trends 115

Banking Trends Trends Millennials Oregon 115

PYMNTS

JUNE 11, 2020

Seattle’s City Council is debating a bill to force eCommerce ordering and transportation platforms like Instacart and Uber to give drivers at least $5 “premium pay” for each trip made during the pandemic and until as long as 2023. Now, Instacart is threatening to halt operations there rather than pay up. “If More than two-thirds (67.4

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Seattle Online Regional Survey 130

Gonzobanker

JUNE 14, 2023

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act. If only it were so easy.

Compliance 109

Compliance FDIC Strategy Fintech 109

American Banker

SEPTEMBER 1, 2023

But time and again, bankers have been shown to operate on the assumption that good times are permanent. Banking crises always recur.

Regulation 68

Regulation Operations Compliance 68

CFPB Monitor

SEPTEMBER 8, 2022

As a result, when the the California Privacy Rights Act (CPRA) goes into effect on January 1, 2023, employee and B2B data will be treated the same as consumer data. . Extending CPRA rights to employees in particular is likely to pose a significant policy and operational lift for many businesses.

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California Resources Policies Data 78