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FinCEN reissues real estate Geographic Targeting Orders

Abrigo

Real estate lending BSA training should include GTO guidance , specifically on how to identify red flags at loan origination. While title insurance companies are required to collect and report data on covered transactions, regulators expect financial institutions to have procedures in place to detect these transactions. Learn More.

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How to reduce the regulatory burden on community banks

Abrigo

There are more than 6,000 banks and thrifts under $10 billion in assets and they are often less equipped to deal with complexities brought by additional regulations. He commented that regulations are likely to generate at least somewhat of a burden, but many provide public benefits that offset any burden imposed on community banks.

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AI and generative AI use cases in banking: 6 real-world examples

Abrigo

Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. They can more easily consider how to harness genAI's power to enhance their operations, compliance, risk management, and member or customer experience. GenAI is seeing varied use cases in banking.

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FinCEN Reissues Real Estate Geographic Targeting Orders: What does this mean for you?

Abrigo

The newest order include s : Boston Chicago Dallas-Fort Worth Honolulu Las Vegas Los Angeles Miami New York City San Antonio San Diego San Francisco Seattle . This training should specifically includ e how to identify red flags at loan origination. BSA Rules and Regulation. Customer Due Diligence.

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Merchants Gone Wild: The Surcharge Edition

PYMNTS

Since about mid-December of 2018, checking out in the stores here in Boston has become even more of a hassle. This newfound friction is the result of the City of Boston passing a bill that bans plastic bags and gives merchants the right to charge for ones made of paper. And then regulators are forced to backtrack.

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MA Vape Sales Ban Triggers Retailer Lawsuits

PYMNTS

“The purpose of this public health emergency is to temporarily pause all sales of vaping products so that we can work with our medical experts to identify what is making people sick and how to better regulate these products to protect the health of our residents,” Gov. Baker said at the time, according to The Wall Street Journal.

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The End Of The Uber Experience?

PYMNTS

Before Uber in Boston, where I live, trying to get a taxi reliably was not only friction-filled, it was infuriating much of the time — something that a study conducted by the city of Boston in 2013 on the taxi industry bore out. That was on a day without bad weather, something Boston never has. In about ten days.

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