CFPB Monitor

MARCH 30, 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes the following key provisions that affect financial institutions and regulation of financial institutions: Section 4003 – Emergency Relief and Taxpayer Provisions. Section 4012 – Temporary Relief For Community Banks.

Regulation 122

Regulation United States Community Bank National 122

PYMNTS

OCTOBER 8, 2018

The impact of Europe’s General Data Protection Regulation ( GDPR ) continues to take shape roughly five months after taking effect, and Facebook could be on the hook for billions of dollars in fines tied to a data breach of about 50 million user accounts. Crypto Regulations. Regulatory Fines, on a Global Scale. billion.

United States 174

United States Regulation cryptocurrency Cleveland 174

Abrigo

JULY 13, 2023

Pig butchering scams originated in Southeast Asia and have escalated significantly in the United States. Educate customers and members: Provide educational opportunities for your community so they know when to say “no” to investment scams. The goodwill your institution will gain in the community will be invaluable.

Fraud 195

Fraud cryptocurrency Training social media 195

Abrigo

JUNE 13, 2022

Takeaway 3 Education and reporting are key to preventing this type of fraud, so know your state's policies. . Elder financial exploitation and elder fraud are serious crimes in the United States. The latest survey indicates that COVID-19 has impacted bank community engagement. BSA Rules and Regulation. Learn More.

Fraud 195

Fraud Training United States Survey 195

Abrigo

NOVEMBER 17, 2023

While some of the recent trending fraud schemes are not new, they have been transformed to prey on communities already dealing with unprecedented times. As overseers tighten the leash with stringent regulations aimed at protecting consumers, the cost of compliance grows.

Fraud 195

Fraud Training Trends Compliance 195

PYMNTS

JUNE 18, 2020

“We are proud of Eastern Bank’s history as the oldest and largest mutual bank in the United States and our enduring commitment to our customers, colleagues and communities,” said Rivers in the release. Sales agents for the IPO are Keefe, Bruyette & Woods Inc.

United States 142

United States Boston Community Security 142

Abrigo

JUNE 23, 2020

Learn from your peers and hear what problems they are dealing with in our Abrigo Community, exclusive to our customers. Community financial institutions are often tasked with doing more with less. The ADC is a highly resilient environment with risk monitoring levels not currently sustainable by typical community financial institutions.

Software 195

Software Community Fraud Resources 195

Abrigo

DECEMBER 10, 2019

Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. A recent American Bankers Association Foundation research study (the ABA study) found that older Americans hold 70% of the deposited wealth in the United States. BSA Rules and Regulation.

Fraud 284

Fraud Study United States Training 284

PYMNTS

JANUARY 15, 2021

But the rule makes it so the banks will have to make the products and services available to all customers in the communities they serve “based on consideration of quantitative, impartial, risk-based standards established by the bank.”.

United States 216

United States National Community Meeting 216

Gonzobanker

FEBRUARY 22, 2024

Community banks need to analyze the demographics and varied business segments to identify the growth potential of each market. Since fintechs are the primary competition for community banks in this space, the VP of business lending needs to pay special attention to this segment. No two markets are created equal.

Lending 78

Lending Community Bank Community Strategy 78

Abrigo

FEBRUARY 8, 2022

Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. Takeaway 3 The FinCEN Priorities specifically state that each priority applies to NBFIs in addition to traditional financial institutions. . Stay up to date on regulations affecting NBFIs and other BSA trends.

Compliance 195

Compliance Training Regulation Fraud 195

PYMNTS

MARCH 15, 2020

The coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” the Fed said in a statement.

Cleveland 143

Cleveland United States Community National 143

PYMNTS

MARCH 15, 2020

The coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” the Fed said in a statement.

Cleveland 140

Cleveland United States Community National 140

PYMNTS

APRIL 14, 2020

Gig workers’ rights and benefits — including healthcare and access to unemployment — have become key topics debated by regulators in th e United States as they work to figure out how to provide support. Another change to the freelancer community in the U.S. How The Pandemic Is Impacting Business Regulations.

Regulation 285

Regulation Examples United States National 285

Abrigo

NOVEMBER 21, 2019

Customer due diligence (CDD) and enhanced due diligence (EDD) have become common phrases in the anti-money laundering community. This was long before the United States passed legislation in 2018 to unveil the secrecy of legal entity ownership. BSA Rules and Regulation. BSA Rules and Regulation. Learn More.

United States 195

United States Regulation National Taxes 195

Abrigo

JANUARY 14, 2021

Takeaway 1 This round of PPP funding focuses on new borrowers in low- and moderate-income communities. . There is no doubt that the COVID-19 global pandemic has challenged communities across the country and has created a significant economic downturn, which has hit small businesses especially hard. PPP Fraud Spikes.

Fraud 195

Fraud Compliance Community Trends 195

PYMNTS

JUNE 27, 2019

The United States has over 60 percent of the world’s cryptocurrency ATMs, followed by Canada with 12.4 s South West Regional Cyber Crime Unit (SW RCCU), in a joint operation with the Dutch police (Politie), Europol, Eurojust and the U.K.’s Europe boasts 22 percent of the world’s cryptocurrency ATMs, while Asia has 2 percent.

ATM 115

ATM Bitcoin San Francisco cryptocurrency 115

CFPB Monitor

OCTOBER 25, 2022

Quinn: This settlement reflects a striking departure by DFS from the current approach of virtually every federal and state banking regulator and enforcement agency on fair lending cases involving dealer [markups]. According to Rhinebeck’s President and CEO Michael J. Dealers, not banks, determine how much markup to charge customers.

New York 78

New York Lending Community Bank Community 78

Independent Banker

NOVEMBER 30, 2022

What are they, and how can community banks stay on top of this trend? Community bank considerations. So, what does this intersection of regulation and technology competition mean for community banks? In addition, community banks need to evaluate their partnerships with fintechs and other third parties.

Community Bank 91

Community Bank Community Maryland Data 91

PYMNTS

MARCH 16, 2016

Although the CFPB has claimed, in many cases, that it allows many smaller banks and credit unions to be exempt from many of the regulations, the congressional members have expressed fear that the bureau may not be doing enough to ensure those smaller financial institution aren’t unnecessarily regulated.

Community Bank 100

Community Bank Community CA Regulation 100

PYMNTS

SEPTEMBER 25, 2019

As a company whose own leadership team has meaningful connections to the French community, we look forward to being a part of that growth.”. The license means that Checkout.com is fully regulated by the Banque de France, meaning it can now offer more services and products to not only France but other Eurozone countries too.

Payments 116

Payments United States Leadership Community 116

PYMNTS

JULY 20, 2016

The vast majority of United States senators have penned a letter urging the CFPB to let community banks and credit unions live free from additional regulations. “We request that the CFPB carefully tailor its regulations to match the unique nature of community banks and credit unions,” the letter stated.

Community Bank 100

Community Bank United States Community Regulation 100

PYMNTS

NOVEMBER 19, 2019

dollar accounts is an important milestone for the crypto community and us. We want to thank our community and all businesses so far who have trusted Cashaa to solve their banking problems,” said Janina Lowisz, co-founder and VP of marketing, in a blog post. regulated partner entities. The addition of U.S. Partnering with a U.S.

blockchain 101

blockchain US Bitcoin United States 101

CFPB Monitor

APRIL 15, 2022

The credit unions allege that the change in rates – set to take effect April 30, 2022 – violates the United States Constitution’s due process and property protections and should be struck down in its entirety.

New York 147

New York United States Policies Compliance 147

Abrigo

SEPTEMBER 10, 2021

Takeaway 2 The USA PATRIOT Act was the first legislation that criminalized terrorist financing in the United States. See Part I: Implications for Community Financial Institutions. BSA Rules and Regulation. BSA Rules and Regulation. Never Forget. The day that changed the world. Criminalizing Terroism Financing.

Training 195

Training Risk Management Pennsylvania Resources 195

Abrigo

NOVEMBER 2, 2021

The BSA , adopted in 1970, has not had a significant overhaul since the USA PATRIOT Act (commonly known as the Patriot Act) in 2001 in response to the September 11 terrorist attacks on the United States. See Part I: Implications for Community Financial Institutions. AML A is significant in U.S. financial institutions.

Compliance 195

Compliance Regulation Resources Policies 195

PYMNTS

JULY 10, 2020

Regulation Vs. Market Forces. The need for both innovation and security comes at a time when open banking is gaining a foothold in the United States due in part to the pandemic. In recent years, we’ve seen the heavily regulated version of open banking in the E.U.,” Cohen said. “In Cohen said. In the U.S.,

Data 272

Data Innovation Fintech Illinois 272

Abrigo

FEBRUARY 27, 2020

Our Transparent AI is easy to explain to regulators. . Mosier will oversee FinCEN’s work to protect the financial integrity and national security of the United States by advancing the agency’s engagement with new technologies within the financial industry.

Innovation 195

Innovation Software United States Compliance 195

PYMNTS

JUNE 16, 2020

He also recommended that the Financial Stability Oversight Council (FSOC) be charged with “the responsibility to create a framework for regulating cryptocurrencies and developing guidelines for strong protections against money laundering and cybersecurity threats to those marketplaces.”.

US 227

US Cyber Security Security National 227

PYMNTS

SEPTEMBER 23, 2019

CUs are facing pressure on the regulatory side as well, with banking advocacy organizations like the American Bankers Association (ABA) pressuring federal regulators to block rule changes that would help CUs compete with large banks. The industry remains strong in the face of these challenges, however. percent and total deposits by 6.9

social media 157

social media Trends Michigan United States 157

Gonzobanker

AUGUST 24, 2023

In the first half of 2023, nearly half of the “checking accounts” opened in the United States were opened by digital banks and fintechs. Increased regulations from a bank-unfriendly government works against all the things banks need to do the survive and thrive in the Crisis of the ’20s. 5) The political element.

Innovation 148

Innovation United States Industry Technology 148

CFPB Monitor

OCTOBER 9, 2015

Community Bank of Raymore. Notably, the CFPB joined in an amicus brief filed by the United States in support of Regulation B’s definition of “applicant,” which includes guarantors. Earlier this week the Supreme Court heard oral arguments in the case of Hawkins v.

United States 60

United States Community Bank Community Regulation 60

Jeff For Banks

FEBRUARY 4, 2023

Me to ChatGPT: Describe the current economic situation in the United States. ChatGPT : The current economic situation in the United States is characterized by growth and recovery following the impacts of the COVID-19 pandemic. But I wanted to give it a try with relevant banking questions. Here are the results.

United States 78

United States US Cyber Security Taxes 78

PYMNTS

MARCH 19, 2018

Closer to home, the United States Senate this past week passed legislation that rolls back regulations stemming from the Dodd-Frank Act. The 67-to-31 vote lifts some restrictions on two dozen banks, with regulatory relief aimed at smaller banks and community banks.

Taxes 122

Taxes United States Community Bank Analytics 122

PYMNTS

AUGUST 24, 2016

In a press release , Popular said the Mastercard credit cards of its two banking subsidiaries, Banco Popular de Puerto Rico and Popular Community Bank, can be used at any of Cuba’s authorized merchants and ATMs throughout the country. regulations. regulations. Popular announced on Tuesday (Aug.

Puerto Rico 100

Puerto Rico Cards United States ATM 100

PYMNTS

MARCH 5, 2018

Visa’s Singh noted the program will kick off the year by opening up in the United States and Russia — meaning that soon, Visa will begin taking submissions in both regions. This new round of capital will help us further our mission of connecting communities around the world through last-mile delivery,” CEO Tony Xu said.

Regulation 108

Regulation Data Regional America 108

PYMNTS

JULY 3, 2017

Eugene Kaspersky, CEO of the Russian cybersecurity firm Kaspersky Lab, has publicly affirmed that he is willing to allow the government of the United States to inspect his firm’s source code to quell any questions and trust issues about Kaspersky’s antivirus and cybersecurity products.

United States 104

United States US Community Security 104