South State Correspondent

JANUARY 16, 2024

BSBY was not well received by US regulators from its inception, but the market eventually embraced SOFR over BSBY. Unfortunately, some banks adopted BSBY as one of their preferred indexes and in doing so created risk in derivatives and operations. We believe that our program offers an advantage against the national banks.

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Abrigo

AUGUST 20, 2021

Would you like others articles like this in your inbox? The FBI explains TOC groups are “self-perpetuating associations of individuals who operate, wholly or in part, by illegal means and irrespective of geography.” Takeaway 1 Transnational organized crime includes phishing, trafficking, illicit firearm sales, and more. .

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South State Correspondent

JUNE 7, 2023

This article details why banks are a special case and then provides our interactive estimate to see what your bank might be eligible to receive. Bank ERC Eligibility To obtain a bank ERC rebate, there’s an extensive set of criteria to establish why and how the pandemic has inhibited each bank’s operations.

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Abrigo

DECEMBER 10, 2021

Would you like other articles like this in your inbox? This update clarifies that banking regulators and FinCEN understand that no specific customer type automatically falls into a higher risk category. Remember, regulators use this instruction manual when they conduct an examination. The importance of updating your AML program.

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Abrigo

MAY 12, 2022

Would you like other articles like this in your inbox? Takeaway 3 Be proactive by attending training, reading articles, and staying abreast of the newest trends and FinCEN advisories. As evidenced by recent attacks on the nation's fuel and food supplies, ransomware is a particularly acute concern. These measures can help.

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PYMNTS

AUGUST 22, 2019

Any addresses deemed to be associated with foreign narcotics operators are added to the Specially Designated Nationals (SDN). 21, it was discovered that three alleged narcotic operators associated with the SDN addresses were Chinese citizens: Xiaobing Yan, Fujing Zheng and Guanghua Zheng, according to the article.

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PYMNTS

MARCH 7, 2018

Reuters reported news that the price of the marquee name in cryptocurrencies dipped as low as $9,450 in intraday trading when the Securities and Exchange Commission (SEC) announced there were “potentially unlawful” systems operating that allow the trading of cryptocurrencies.

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Bitcoin cryptocurrency Regulation Security 108

Abrigo

JULY 23, 2021

Would you like others articles like this in your inbox? The regulations are forthcoming, but institutions now should begin the process of performing a threat-focused risk assessment which will guide them where to focus their efforts. Below are terms and definitions that will be referred to in this article.

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PYMNTS

OCTOBER 18, 2018

In July, reports in the Financial Times said Switzerland is working to open the nation’s traditional corporate banking market to cryptocurrency companies finding it difficult to get banked, thanks to fears over anti-money laundering (AML) violations and other compliance issues. “Time is pressing,” he said.

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Abrigo

SEPTEMBER 3, 2021

Would you like others articles like this in your inbox? In addition, as the nation has seen global cyber threats, particularly from North Korea, Russia, and Iran, the Office of Foreign Assets Control (OFAC) also issued an advisory related to cyber-abled crime. BSA Rules and Regulation. BSA Rules and Regulation.

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Abrigo

NOVEMBER 17, 2023

The true cost of fraud goes beyond the initial reported fraud losses Would you like other articles like this in your inbox? Additionally, the human capital investment—in terms of both hiring fraud prevention experts and training existing staff—represents a significant operational expense. Measuring the cost of fraud losses.

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CFPB Monitor

JANUARY 9, 2019

federal district court in October 2018 by the Conference of State Bank Supervisors (CSBS) to stop the OCC from issuing special purpose national bank (SPNB) charters to fintech companies. That lawsuit was dismissed for failing to establish an injury in fact necessary for Article III standing and for lacking ripeness for judicial review.

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Jeff For Banks

FEBRUARY 6, 2011

Take for example the language from an FA Article relating to a strategic plan issued by the OCC to The Suffolk County National Bank of Riverhead (“SCNB”) in New York on October 25, 2010: “The Board shall adopt, implement, and thereafter ensure Bank adherence to a written strategic plan for the Bank covering at least a three-year period.

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Abrigo

JULY 28, 2021

How the pandemic affected the allowance under the two models Abrigo analyzed proprietary loan-level data from FIs operating under the two different models and found contrasting stories of how reserve and provision levels progressed after the pandemic began. Would you like other articles like this in your inbox? Kickstart your.

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CFPB Monitor

APRIL 25, 2022

As we will discuss, the timing of the Consent Order indicates that even when regulators permit crypto activities by financial institutions, they remain cautious, particularly as to BSA/AML compliance. The January 2021 Operating Agreement . The Consent Order.

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South State Correspondent

AUGUST 21, 2022

In this article, we will discuss what community banks should look for in a hedge provider, specifically in a loan-level hedging program. Meet Competitive Pressures: National and larger regional banks are specifically targeting better borrowers for seven, ten, or 20-year fixed-rate loans. How Your Hedge Provider Can Be Relational .

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Abrigo

JUNE 5, 2015

In a recent Forbes article, Frank Sorrentino, Chairman and CEO of ConnectOne Bank, offered his take on how financial institutions should flip their mindset on regulators and examinations. Stress testing is one such area where many smaller banks are feeling the weight of regulation.

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Risk Management Community Bank Regulation Survey 150

Money and Payments

AUGUST 14, 2023

Simply put, the European legislator decided upon promulgating a regulation that obliges future virtual asset providers to broadcast personal data for all transactions along in the international value chain for reasons of preventing money laundering and terrorist finance. Where can I find the disputed requirement(s) in the EU regulation?

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Money and Payments

AUGUST 8, 2023

Simply put, the European legislator decided upon promulgating a regulation that obliges future virtual asset providers to broadcast personal data for all transactions along in the international value chain for reasons of preventing money laundering and terrorist finance. Where can I find this requirement in the EU regulation?

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Regulation Data Maine Operations 36

Abrigo

MARCH 4, 2022

He won’t sit still for it,” James Clapper, former Director of National Intelligence under President Obama, said of the trade and financial sanctions during an interview Sunday on CNN. You have nationalists with the Russian Federation, and you have these criminal groups operating independently. Indeed, former top U.S. keep me informed.

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PYMNTS

AUGUST 23, 2018

That move comes as operators of crypto trading platforms have fled China for other places, such as Hong Kong. In the same vein, news also came this week that China is seeking to crack down on 124 cryptocurrency exchanges operating overseas whose services are available to Chinese users.

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social media cryptocurrency blockchain Technology 100

PYMNTS

JUNE 6, 2019

Waste is becoming ever more of a vice, especially among younger consumers, and now regulators. By 2023, manufacturers and retailers will have to donate, reuse or recycle the goods” under a program that the French prime minister called the first of its kind from any national government. Amazon’s Role. But the opportunities are real.

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Retail New York Online Trends 146

PYMNTS

JUNE 7, 2018

Now that principle applies to Europe’s General Data Protection Regulation (GDPR) – at least according to one report. The regulation requires companies to provide more transparency over how consumer data is used. Skillful criminals know how to use crowds — just ask anyone who has been pickpocketed in a subway station.

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Los Angeles Google Regulation Data 107

PYMNTS

NOVEMBER 2, 2020

Regulation. The Digital Services Act will be one of the regulations, which Vestager said will revise the eCommerce Directive and will make digital services take additional responsibility for contending with “illegal content and dangerous products.”. The Digital Markets Act is a second set of regulations. and Facebook Inc.

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Taxes National Regulation Google 212

Abrigo

AUGUST 26, 2015

This is the sentiment of several high-profile executives regarding the National Credit Union Administration’s (NCUA) stance on examination cycles for credit unions. There’s been much back and forth over the last week on this subject and the NCUA’s desire to stick to a 12-month examination cycle for the financial institutions it regulates.

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Abrigo

JANUARY 13, 2021

This article originally appeared in the ABA Banking Journal's Risk and Compliance January/February 2020 edition. . The victims of human trafficking can be any age, race, or gender, and can be any nationality. Bank tackled human trafficking in its backyard around the 2018 Super Bowl in this ABA Banking Journal article and podcast.

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Abrigo

MARCH 11, 2021

Would you like other articles like this in your inbox? Signed into law as part of the National Defense Authorization Act for 2021, the AML Act of 2020 (the Act), seeks to strengthen, modernize, and streamline the existing Bank Secrecy Act (BSA) requirements. Ex: Stay up to date on XYZ regulation and other BSA trends.

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PYMNTS

OCTOBER 9, 2018

.” “There is no doubt that the lease accounting standards will add new complexities to a broad range of business functions, including sales, lending, contracting and financial reporting,” wrote Whitney Schiffer, CPA, in an article last week for accounting and advisory firm Berkowitz Pollack Brant.

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Community Bank Community Report Lending 153

PYMNTS

AUGUST 7, 2019

Carro, which operates in Singapore, Thailand and Indonesia, said more than $500 million worth of vehicles were sold last year on its platform, up from $250 million in 2017 and $120 million the year before.”. Waste is becoming ever more of a vice, especially among younger consumers, and now regulators. But the opportunities are real.

Online 112

Online Retail Trends New York 112

Abrigo

MARCH 4, 2022

Would you like other articles like this in your inbox? A recent example of a bust out scheme was a nationwide operation that resulted in a Great Valley, N.Y., BSA Rules and Regulation. BSA Rules and Regulation. Takeaway 2 Estimated to increase to $2.42 million in restitution to Synchrony Bank, according to the U.S.

Fraud 195

Fraud Cards Software Trends 195

South State Correspondent

MARCH 15, 2023

This article highlights ten not-so-evident lessons of the banking crisis that every banker must consider going forward. Some form of this ratio will likely be applied to the national and regional banks, which means larger community banks will also be judged by this ratio. This should be a standard operating procedure at every bank.

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social media FDIC Branding Management 195

South State Correspondent

MAY 2, 2022

Unfortunately, there are many problems with sales funnels, and in this article, we will show why banks should be thinking in terms of “Growth Loops” instead. Your bank might have introduced a new product, but very few banks go back and try to improve an existing product unless forced to by the regulators or changes in technology.

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social media Management Marketing Resources 195

PYMNTS

SEPTEMBER 27, 2016

A recent article by The Wall Street Journal showed fully autonomous robots picking and stacking goods in a Target distribution center in California. Cohen owns a national distribution network and deals with some of the nation’s biggest retailers. The picture is no less odd than a driverless car. But, so what?

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Mobile Payments Los Angeles California 100

Independent Banker

SEPTEMBER 22, 2015

Arecent National Mortgage News article pointed out that “consumers complain when lenders ask for information, even suggesting such requests are a violation of their privacy.” Fortunately, First Federal Savings & Loan Bank (in operation since 1923) has never sold any of our mortgage loans to the secondary market or anyone else.

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FICO

SEPTEMBER 27, 2022

Methods from operations research such as mathematical optimization enable a quantitative understanding of the trade-offs between competing goals such as profitability, market share and risk appetite, and thus allow the targeted development of tailored decision strategies. Thesis 3: AI and Operations Research Unleash Additional Effectiveness.

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Analytics Strategy Operations Google 52

Abrigo

NOVEMBER 11, 2021

Would you like other articles like this in your inbox? The June 2021 release of the Financial Crimes Enforcement Network ( FinCEN) Priorities makes this clear in naming cybercrime as one of the eight national anti-money laundering and countering the financing of terrorism (AML/CTF) priorities. financial institutions.

Fraud 195

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Abrigo

NOVEMBER 11, 2021

Would you like other articles like this in your inbox? The June 2021 release of the Financial Crimes Enforcement Network ( FinCEN) Priorities makes this clear in naming cybercrime as one of the eight national anti-money laundering and countering the financing of terrorism (AML/CTF) priorities. financial institutions.

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Fraud cryptocurrency System Trends 195