CFPB Monitor

DECEMBER 6, 2022

Earlier this year, New York delayed the effective date of its new law requiring card issuers to provide a grace period for using credit card rewards points that was slated to be effective later this week. The last three bullets of the definition of “modification” extend beyond rewards to the underlying credit card account.

New York 78

New York Cards National Compliance 78

CFPB Monitor

JUNE 1, 2022

We are pleased to report that Ballard Spahr’s Consumer Financial Services Group has once again received the highest national ranking from Chambers USA: America’s Leading Lawyers for Business. The Group was ranked in the highest tier nationally in three categories: Compliance, Litigation, and Enforcement & Investigations.

National 78

National Groups Regulation Compliance 78

PYMNTS

JULY 24, 2020

The collaboration is expected to give Visa’s global merchant and card network access to M-Pesa’s financial services network. The company launched an online store using an eCommerce platform service from China-based Alibaba where it now offers features tailored to appeal to how consumers in the nation prefer to engage with their brands.

Compliance 152

Compliance Report Payments Security 152

American Banker

MAY 6, 2024

Big national retailers will capture all the financial benefits from proposed reductions in swipe fees, while consumers will be left with fewer benefits programs and less secure transactions.

Retail 96

Retail Cards National Security 96

Perficient

DECEMBER 22, 2023

This mitigates the risk of customer service representatives providing incorrect information and ensures compliance with regulatory disclosures, ultimately enhancing the overall customer experience while reducing costs. Contact our experts today if you are interested in learning more about up-and-coming news in financial services.

Risk Management 221

Risk Management Compliance Fraud Regulation 221

PYMNTS

JULY 1, 2019

When it comes to the new and emerging legal cannabis industry – along with the closely related trade in CBD products – payments and compliance issues, as one can imagine, have tremendous importance, and companies are striving to get into the game via those angles. Starting today, U.S. The Legal Situation.

Compliance 167

Compliance Industry Payments Policies 167

PYMNTS

JANUARY 2, 2020

50 crores (about $7 million) will have to offer customers electronic payment modes like debit cards, powered by RuPay, according to a report by LiveMint. . RuPay is a payment network offered by National Payments Corp. The fine for non-compliance is going to be ?5,000 The new regulation went into effect on Jan.

Cards 130

Cards blockchain Cyber Security Retail 130

CFPB Monitor

APRIL 30, 2020

We are pleased to announce that Ballard Spahr’s Consumer Financial Services Group has once again received the highest national ranking from Chambers USA: America’s Leading Lawyers for Business. Our CFS Group has been ranked in Band One every year since Chambers USA introduced a national category for consumer finance.

National 78

National Groups Regulation Compliance 78

PYMNTS

OCTOBER 7, 2019

Merchants and PSPs are far from the only ones with lingering questions on SCA’s application — regulators in EU countries are trying on to integrate the rule into their national payment processes. It is still a matter of debate on what exemptions, innovations and changes can be left up to national authorities — and what cannot.

Regulation 134

Regulation Trends Compliance National 134

PYMNTS

MARCH 8, 2018

and group compliance director, explained to PYMNTS how online tools can make remote identity verification even more robust than in-person processes — and also help kick cross-border payments into higher gear. “Is Having those compliance checks in place is crucial for a cross-border operation. Nazzaro asked.

Compliance 101

Compliance Regulation Online Payments 101

PYMNTS

JANUARY 13, 2020

The bank recently made some changes with National Electronic Toll Collection (NETC) in the country. “The amount of monetary penalty for a contravention shall not exceed Rs 5 lakh or double the amount of contravention, whichever is higher, where such amount is quantifiable,” it said. Not all recent RBI moves have been punitive, however.

Compliance 130

Compliance System Security Payments 130

PYMNTS

JANUARY 28, 2019

Will the ban on the credit card surcharge automatically lead to significantly higher prices when consumers opt for the plastic (via card or digital wallets) at the pump, at the counter … or pretty much anywhere? In New York this month, credit card surcharges got the okay. Maybe, maybe not. As Webster recounted Monday (Jan.

Cards 125

Cards New York Oklahoma Connecticut 125

PYMNTS

OCTOBER 5, 2020

Money laundering is a pervasive threat, with the United Nations estimating that up to $2 trillion is laundered each year, equivalent to 5 percent of the global gross domestic product (GDP).

Online 141

Online Compliance Report Study 141

CFPB Monitor

MAY 2, 2019

We are pleased to announce that Ballard Spahr’s Consumer Financial Services Group has once again been ranked in the highest tier nationally in the category of Financial Services Regulation: Consumer Finance (Compliance and Litigation) by Chambers USA: America’s Leading Lawyers for Business.

National 68

National Groups Regulation Compliance 68

CFPB Monitor

JULY 29, 2022

and related entities (collectively, “Harris Jewelry”), a national jewelry retailer that markets and sells military-themed gifts, to resolve their lawsuit which alleged that Harris Jewelry had engaged in unlawful sales and credit practices targeting servicemembers. State regulators may also supervise MLA requirements pursuant to state law).

National 78

National Retail Regulation New York 78

PYMNTS

OCTOBER 19, 2016

According to Brad Fauss, president and CEO of the Network Branded Prepaid Card Association, the recently released regulations on prepaid cards from the Consumer Finance Protection Board could be another instance of good intentions gone wrong. First National Bank of Pennsylvania, the largest subsidiary of F.N.B. Time will tell.

Regulation 100

Regulation Cards Digital Banking social media 100

Abrigo

JANUARY 30, 2024

REGISTER Takeaway 1 Banking and compliance professionals rely on ThinkBIG to elevate their understanding of industry shifts and regulatory pressures. Banking and compliance professionals rely on the annual conference to elevate their understanding of industry shifts and regulatory pressures that hammer them daily.

Conference 195

Conference Arizona Phoenix Fraud 195

Abrigo

SEPTEMBER 20, 2023

Join Abrigo for a webinar discussing risk assessments' role in compliance. Recognizing the gravity of the situation, the Financial Crimes Enforcement Network (FinCEN) identified fraud as a national priority. 1st-party debit or credit card fraud : Card fraud causes financial institutions significant monetary losses.

Fraud 195

Fraud Trends Cards Software 195

American Banker

MARCH 26, 2024

The credit card giant says that it is "proactively meeting" with advocacy organizations to gather feedback that would help with the creation of a community benefits plan. The National Community Reinvestment Coalition, which has negotiated 21 such deals since 2016, opposes Capital One's proposed acquisition of Discover.

Community 81

Community Capital Meeting National 81

PYMNTS

JULY 16, 2019

Banks and credit unions looking for safer and more efficient digital and mobile services for debit and credit cards can now turn to the cloud. This option allows mid-sized and smaller issuers to more quickly and easily launch these services and compete with large national banks on digital customer experience.”.

Innovation 128

Innovation Compliance User Experience Cards 128

American Banker

MARCH 7, 2024

Net income at the nation's more than 4,000 banks dipped markedly in the final quarter of 2023, though for the full year it exceeded pre-pandemic averages. Deterioration in commercial real estate and credit card lending is a concern, FDIC Chairman Martin Gruenberg says.

FDIC 74

FDIC Report Lending National 74

PYMNTS

AUGUST 15, 2019

PSD2 compliance challenges continue to roll in, with strong customer authentication (SCA) requirements headed merchants’ way next month. As Peter Robinson, EuroCommerce payments adviser, told PYMNTS in the PSD2 Tracker, businesses are looking toward their card acquirers to fill the education gap. Clearing Up The Confusion.

Payments 122

Payments Analysis Cards Compliance 122

PYMNTS

NOVEMBER 22, 2018

New rules mean new compliance activities, which, of course, mean additional compliance costs for these stakeholders — as much as $489 million. Now comes the tipping point, said the industry group, where the ATMs may simply shuttered, ostensibly as the aforementioned compliance costs are too great to bear. “

ATM 187

ATM Payments Compliance Google 187

CFPB Monitor

JANUARY 12, 2017

Early this morning, the CFPB released the findings of its national debt collection consumer survey. It also bears note that the survey concluded that “[c]onsumers are most often contacted about medical and credit card debts.” Credit card debt remaining a potential regulatory focus is no surprise. Stefanie Jackman and Daniel L.

Survey 60

Survey National Leadership Compliance 60

Abrigo

JANUARY 3, 2024

The final access rule does not dictate how to receive consent and allows for flexibility based on differences in FIs across the nation. 35 million companies Educate clients on BOI changes and fraudsters As noted above, financial institutions are not responsible for client compliance with beneficial ownership information reporting.

Fraud 221

Fraud Regulation Report Compliance 221

Perficient

NOVEMBER 22, 2022

Members of the Army and Air National Guard, provided they have been called to respond to a national emergency and their period of active duty is more than 30 days in a row. Active duty commissioned officers of the Public Health Service or the National Oceanic and Atmospheric Administration. All active-duty Reserve personnel.

National 275

National United States America Lending 275

PYMNTS

AUGUST 14, 2019

His worry, he said, are the areas where they have expected to see more data reporting and haven’t; as well as indications that casinos have been taking their foot off the gas pedal of late when it comes to their compliance activities. “It The Team Oriented Nature Of Compliance . kilograms of methamphetamines and more than $5.5

Compliance 163

Compliance Las Vegas Mobile Data 163

PYMNTS

DECEMBER 9, 2019

“While many African countries have made great strides in their national digital identity programs, far too many of the continent’s residents face barriers when attempting to access financial services,” said Zac Cohen , COO of Trulioo. While rates in Ghana are higher, fewer than 60 percent of residents have a Ghana ID card.

Regional 131

Regional Compliance National System 131

Payments Source

DECEMBER 15, 2020

Two large deals happened this week in Australia to build scale against international financial services encroachment from card schemes and cross-border financial services — a concern that's cropping up in several nations.

National 118

National Payments Cards Compliance 118

PYMNTS

DECEMBER 8, 2020

economic slowdown fueled by the COVID-19 pandemic is likely to continue into 2021 but could start bouncing back by mid-year as the population gets vaccinated, according to a December survey from the National Association for Business Economics (NABE). Capital One Halts BNPL Transactions On Its Credit Cards.

San Francisco 130

San Francisco Community Bank Video Capital 130

PYMNTS

SEPTEMBER 18, 2018

The nation is forming a Direct FAST industry group, where the members will include traditional financial institutions (FIs), FinTech firms and the Monetary Authority of Singapore (MAS). The movement to open that FinTech access, said the minister, brings “greater convenience to consumers” as those individuals use their eWallets.

Fintech 166

Fintech New York US National 166

CFPB Monitor

AUGUST 29, 2016

The CFPB announced that it has entered into a consent order with First National Bank of Omaha to settle charges that the bank engaged in unfair or deceptive acts or practices in connection with the marketing and sale of credit card add-on products and the billing of consumers for such products.

Cards 84

Cards Omaha Policies Compliance 84

PYMNTS

OCTOBER 1, 2019

The big uptick in losses corresponds to an uptick in the cost of sales, which is up 247 percent, according to Revolut – mostly pushed by a rise in costs to card scheme charges as well as user acquisitions. The capital infusion is sought as Revolut attempts a five-nation expansion to include Singapore, Japan and the United States.

United States 109

United States Maine Compliance Cards 109

The Paypers

DECEMBER 13, 2017

(The Paypers) Bank Muamalat Indonesia (BMI) has announced that it is now fully compliant with the National Standard Indonesian Chip Card Specification (NSICCS) on issuing and acquiring.

Compliance 31

Compliance National Cards 31

Payments Source

JUNE 2, 2016

The National Retail Federation wants the Federal Trade Commission to do more than merely check up on the companies that routinely assess merchants for compliance with the Payment Card Industry Data Security Standards (PCI DSS).

Retail 60

Retail Compliance National Security 60

CFPB Monitor

MAY 16, 2022

Small business lending—assessing whether there are disparities in application, underwriting, and pricing processes, redlining, and whether there are weaknesses in fair lending-related compliance. The JPay lawsuit involved prepaid cards that JPay issued to formerly incarcerated individuals upon their release from prison.

Lending 148

Lending Report Memphis Tennessee 148

PYMNTS

NOVEMBER 10, 2020

The central bank and several other commercial banks collaborated on a cross-border bank account offering that Pakistanis overseas can use to store rupees and foreign currencies as well as to pay bills and make other transactions in the nation. customers to recipients in Asia and Europe. How Rayo Delivers Immigrant-Focused Financial Services.

Report 216

Report Fintech United States Meeting 216