article thumbnail

OCC Highlights, AML & CRA Risks

Perficient

Manage third-party risks, especially for relationships involving higher-risk or critical activities. YOU MAY ENJOY: Regulatory Reporting in Financial Services Modernizing CRA Regulations Managing compliance risk frameworks in alignment with existing risk profiles is crucial as customer needs evolve.

article thumbnail

The CFPB section 1071 effective date

Abrigo

This means that in addition to banks and credit unions, other lenders subject to the rule’s mandates are finance companies, online lenders, Community Development Financial Institutions (CDFIs), government lenders, and nonprofit lenders. 1, 2025, and they must report data collected for the entire 2025 year by June 1, 2026.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

CurrencyFair Launches Cross-Border Collections Solution

PYMNTS

Dublin-based CurrencyFair has a user community of 150,000, who have traded the equivalent of over 9 billion pounds ($11.6 The partnership will enable Buy-World to transition to a full-service online model, and outsource its global payment management to CurrencyFair.

Community 167
article thumbnail

Amazon To Deliver Alcohol In West Bengal, India

PYMNTS

the state agency that manages liquor licenses, granted approval for Amazon to sell liquor online, the news service reported. It is estimated to reach $200 billion in revenue by 2026, up from just $39 billion three years ago, according to The Motley Fool. Amazon.com Inc. The West Bengal State Beverages Corp.,

Online 195
article thumbnail

Recap of Money 20/20 USA 2023 and 10 Banking Thoughts

South State Correspondent

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. Generative AI: Traditional AI was ever-present in touted solutions regarding fraud, risk management, and the customer experience. Maybe a topic for next year?

article thumbnail

Wegmans To Open In Brooklyn; Whole Foods Brings Eateries To 500th Store

PYMNTS

Whole Foods Market South Region President Bobby Turner said, according to reports, “We worked hard to create a place that offers our neighbors a destination to get together, enjoy great food and connect with members of the local community through a variety of culinary, wellness and cultural events.”. arrives at 25 percent by 2026.

New York 100
article thumbnail

Building A More Compliant Cannabis Industry With The Blockchain

PYMNTS

The cannabis industry brought in a little over $6 billion in revenue in 2016 — a figure that some estimate will grow to as much $50 billion by the year 2026. There is a stigma, and people just don’t want to touch it, so the typical types of solutions for inventory management and payments just aren’t there.