PYMNTS

JUNE 19, 2020

A top British financial services regulator Friday proposed new regulations that could help borrowers bracing for the end of consumer protections implemented as COVID-19 bore down on the country. The FCA is directing financial services firms to be especially attentive to the needs of “vulnerable customers.”.

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American Banker

APRIL 9, 2024

The populist backlash from the Great Financial Crisis turned the financial regulatory world upside down. Fifteen years later, that populist force is still informing how people vote, how financial regulation is crafted and how regulators see themselves.

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PYMNTS

SEPTEMBER 2, 2020

Despite calls for his resignation in the wake of the Wirecard AG scandal, the president of the German Federal Financial Supervisory Authority (BaFin) has refused to go. 2) that he will not resign “as long as my country and Europe have trust in me,” the Financial Times reported.

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Chris Skinner

JANUARY 20, 2017

We had a fun session of the Financial Services Club this week, in light of the lack of clarity on Brexit from the UK Gov. The discussion was our regular New Year kick-off meeting with special guest David Doyle, sage of all EU regulations affecting Financial Services.

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PYMNTS

NOVEMBER 5, 2018

China is reportedly looking at new regulations that would impact Alibaba and Ant Financial in an effort to boost oversight of financial holding companies. The aim is to have plans made for a supervision plan for financial holding companies by the first half of next year. Reuters cited two sources at the time.

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PYMNTS

MARCH 24, 2019

Australia is including an additional $390 million in its new budget to boost its financial regulation sector, according to Reuters. A strong economy requires a strong, accountable financial sector that Australians can trust,” Treasurer Josh Frydenberg said in a statement.

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CFPB Monitor

SEPTEMBER 8, 2023

On October 1, 2023 the California Department of Financial Protection and Innovation’s (“DFPI”) final regulations impacting those who provide commercial financial products and services will become effective. Continue Reading

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TheGuardian

SEPTEMBER 27, 2022

The deputy chair of the Australian Securities and Investments Commission, Karen Chester, said the regulator wanted to stop its hands-on involvement in remediation schemes – a program that’s been under way since the mid-2010s, when widespread misconduct in the sector was first uncovered.

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CFPB Monitor

FEBRUARY 13, 2023

The New York Department of Financial Services (DFS) has issued final regulations implementing the state’s Commercial Finance Disclosure Law (CFDL) which requires consumer-like disclosures for “commercial financing” transactions of $2.5 million or less.

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The Paypers

JULY 27, 2023

Canada’s financial regulator has proposed new capital and liquidity requirements for bank and insurer crypto-asset exposure.

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PYMNTS

DECEMBER 8, 2019

As a way to prevent unfair competition, the Financial Stability Board (FSB) said in a report on Sunday (Dec. 8) that there should be “vigilant monitoring” of Big Tech’s move into financial services. BigTech’s entry into finance has had benefits, like financial inclusion in emerging markets and underbanked economies.

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CFPB Monitor

MARCH 1, 2023

On February 24, 2023, the California Department of Financial Protection and Innovation (“DFPI”) released a Notice containing modifications to previously proposed regulations addressing the Consumer Financial Protection Law (“CFPL”).

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American Banker

APRIL 22, 2024

With financial crime surging worldwide, it is critical that the public and private sectors align on a shared vision to collectively focus on combating bad actors and to eliminate their ability to launder the proceeds of criminal activity.

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CFPB Monitor

DECEMBER 21, 2022

The Washington Department of Financial Institutions has adopted regulations effective December 31, 2022 to implement amendments to the Consumer Loan Act permitting licensed companies to allow licensed mortgage loan originators to work from their residence without licensing the residence as.

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PYMNTS

JANUARY 2, 2019

Denmark, still recovering from a $230 billion money laundering scandal at Danske Bank, is going to propose new ways for its financial regulator to stop being so close to the banks that it supervises, according to a report in Financial Times.

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The Paypers

DECEMBER 7, 2023

The Bank of England , Prudential Regulation Authority and Financial Conduct Authority have proposed measures to oversee third-party services.

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Regulation 41

PYMNTS

MARCH 9, 2018

when it comes to financial regulation. As reported by Caixin Global , the People’s Bank of China will “take the lead” in coordinating regulation, a strategy that was telegraphed in remarks on Friday (March 9) from bank governor Zhou Xiaochuan. China may not take a page, or several, from the U.K.

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CFPB Monitor

DECEMBER 2, 2021

Covered banking organizations are required to provide notice to their relevant regulator in the event that a “Notification Incident” occurs. operations, including associated services, functions, and support, the failure or discontinuance of which would pose a threat to the financial stability of the United States.

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TheGuardian

JANUARY 28, 2021

Financial Conduct Authority concerned vulnerable customers may be left without access to services The UK’s financial regulator has called on banks to reconsider branch closures amid fears that vulnerable customers could be left without access to services.

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Regulation 83

Payments Dive

APRIL 5, 2024

“Attempts to regulate EWA as credit threaten worker access to this innovative and consumer-friendly financial tool,” writes one earned wage access industry CEO.

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Payments Dive

APRIL 15, 2024

Earned wage access provider FlexWage has received leeway from the Vermont Department of Financial Regulation to operate in the state without a lender or money transmitter license.

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American Banker

JULY 20, 2023

This is no time to haphazardly pile financial regulation and additional costs on an American economy that seems otherwise set to avoid the catastrophes predicted just last year.

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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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BankInovation

JULY 1, 2021

Financial institutions that leverage artificial intelligence (AI) and machine learning (ML) are not in favor of new regulations determining how the techniques can be used.

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Accenture

JULY 20, 2015

Regulators in financial services continue to make new rules—and for good reason. The goal is to increase resilience in banks and financial institutions around the world. These structural reform regulations—constituting Global Structural Reform (GSR)—are significantly changing the traditional ways of. Read more.

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Regulation Risk Management Management 150

Bobsguide

JULY 30, 2018

With increasing institutional use of Al and machine learning methods, more and more industry regulators are making use of such software to provide financial stability through services and systemic risk surveillance. Central to the UK Financial Conduct Authority’s (FCA) agenda is their.

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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.

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BankInovation

JUNE 1, 2021

Regulating the use of artificial intelligence (AI) is important, but defining it too broadly could also lead to unnecessary uncertainty, according to UiPath, a leading provider of automation software. regulators’ request for comment on the use of AI in the financial services sector, UiPath noted that uneven legal frameworks […].

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PYMNTS

MARCH 7, 2019

Sweden’s financial regulator, the Swedish Financial Supervisory Authority, said it needs to pick up its oversight of Swedish banks when it comes to money laundering. The Financial Supervisory Authority has a lot of power, and that power needs to [be] handled sensibly, and that is what we are doing,” he said.

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CFPB Monitor

MAY 17, 2021

On May 19, 2021, the House Financial Services Committee will hold a hearing , “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions.” The scheduled witnesses are: Todd Harper, Chairman, National Credit Union Administration.

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PYMNTS

FEBRUARY 15, 2018

Through the Conference of State Bank Supervisors, Georgia, Illinois, Kansas, Massachusetts, Texas, Tennessee and Washington are looking to standardize the ways firms across traditional financial services and FinTech upstarts apply for, and are granted, licenses. That comes as Open Banking bowed in Europe last month.

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American Banker

DECEMBER 12, 2023

Integrating artificial intelligence into the world of banking and finance must be a cooperative effort between the industry and regulators. It's important that the discussions start now.

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PYMNTS

OCTOBER 25, 2019

The Commodity Futures Trading Commission ( CFTC ), Federal Deposit Insurance Corporation ( FDIC ), Office of the Comptroller of the Currency ( OCC ), and the Securities and Exchange Commission ( SEC ) have announced that they are joining the Global Financial Innovation Network ( GFIN ). Jack Tate told CoinDesk.

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BankInovation

OCTOBER 26, 2020

Alibaba Group founder Jack Ma criticized global financial regulations for stifling innovation and urged China to seek a system that accommodated development. After the Asian financial crisis, the risk control highlighted in the Basel Accords has been” the priority for regulators, Ma said at the Bund Summit in Shanghai on Saturday.

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Abrigo

DECEMBER 5, 2023

Watch webinar Takeaway 1 BSA Officers are the frontline defenders against financial crimes in banking institutions, and hiring the proper skill set for each BSA position is critical. Takeaway 2 The role of a BSA Officer is complex and multifaceted, and financial institutions need individuals who are the same.

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The Banker

APRIL 13, 2023

Crypto opportunities and greater UK-focused regulation lie ahead as the UK Financial Services and Markets Bill clears the last hurdles. Bill Lumley reports.

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PYMNTS

JANUARY 12, 2021

Financial Conduct Authority (FCA) said new scams could end up having devastating effects on crypto investors, CoinDesk reported. Those working in crypto asset-related investments probably won't have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme, in addition, in case something goes wrong.

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