PYMNTS

FEBRUARY 15, 2019

As noted in this space late last year, five federal agencies spoke out, and presented a statement that detailed how credit unions and banks could share resources to make Bank Secrecy Act compliance efforts more streamlined. The company has since said it would sue the FT. Beyond individual company news, Newsweek reported that, per the U.S.

Compliance 122

Compliance Fraud United States FDIC 122

Independent Banker

SEPTEMBER 25, 2014

This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. As David Barr, spokesperson for the FDIC, points out, “a vast majority of community banks remain well-rated and exhibit satisfactory corporate governance programs and compliance management systems.”.

Compliance 101

Compliance Regulation Community Bank Community 101

PYMNTS

FEBRUARY 8, 2019

The emails were reportedly only sent to certain anti-money laundering (AML) contacts, leading some to question if the National Credit Union Administration (NCUA)’s non-public data had been accessed, Krebs On Security reported. FDIC) and the Comptroller of the Currency were involved in the discussion.

FDIC 134

FDIC Community Community Bank National 134

FICO

DECEMBER 20, 2018

Indeed, we are already starting to see signs of distress among community and regional banks that lack the advertising budgets and sophisticated digital capabilities of the big national banks. To quote an executive at Varo Money, “fraud follows speed.” Payday Lenders Will Face More Robust Competition. small-dollar lending market.

Trends 73

Trends Lending Fraud Exercises 73

Abrigo

NOVEMBER 22, 2021

Consumer Lending Laws & Compliance Financial institutions offering consumer loans need to know about these major consumer lending laws and recent compliance issues. Takeaway 1 Risk tied to consumer lending compliance has been elevated as a result of the pandemic and associated operating challenges. Pandemic Issues.

Compliance 195

Compliance Lending Risk Management Regulation 195

Independent Banker

AUGUST 26, 2015

The bank’s mortgage company has developed a national retail lending presence over the last 18 months using phones and email, rather than branch offices. “We Anti-fraud measures also are built into electronic signature systems. We get the disclosure back faster” when borrowers digitally sign documents exchanged by email, Webster notes.

San Francisco 70

San Francisco Lending System Atlanta 70

PYMNTS

SEPTEMBER 21, 2020

billion transactions for potential suspicious activity and screened more than 157 million transactions for compliance with applicable sanctions requirements. percent of FIs believe AI is an effective tool for stopping fraud before it happens. Joint PYMNTS/Brighterion research found that 63.6

Fraud 347

Fraud Report System FDIC 347

William Mills

SEPTEMBER 9, 2016

I like the idea but I am a bit concerned about the potential for fraud from both companies and investors. Addresses compliance, fraud experience and customer experience analytics. Social media is a special challenge since social media was not created with compliance in mind. users fall victim to fraud.”

social media 40

social media ATM Mobile Customer Experience 40

CFPB Monitor

NOVEMBER 22, 2022

The Federal Reserve, FDIC, and OCC should finalize the interagency guidance for banks on managing risks associated with third-party relationships that was proposed in July 2021. The CFPB should consider whether and how it might supervise data aggregators.

Fintech 78

Fintech Report Data Lending 78

Abrigo

JULY 22, 2022

Takeaway 2 While these financial products are appealing, the lack of stability and consumer protections surrounding them are a concern for the FDIC. ? . Takeaway 3 Financial institutions should notify the FDIC of crypto-related activity and be familiar with the risks of the cryptocurrency world. . Crypto turbulence.

cryptocurrency 195

cryptocurrency FDIC Regulation Fraud 195