Perficient

APRIL 2, 2021

The agencies collectively announced a request for information (RFI) to gain input from stakeholders including financial institutions, trade associations, and consumer groups. Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. Credit Decisions.

Regulation 309

Regulation Industry Risk Management Analysis 309

PYMNTS

NOVEMBER 16, 2020

Regulation. Tencent Holdings President Martin Lau said further regulations are needed in China to mirror a “new reality.”. As technology companies become bigger and more important to the economy, I would say more regulations to reflect the new reality are needed," Lau said, according to the report.

Maryland 151

Maryland Taxes Online Groups 151

PYMNTS

SEPTEMBER 25, 2019

Regulators the world over are beginning to take a closer look at the alternative and marketplace lending business model. Also, in China, analysts at Yingcan Group pointed to the government’s P2P and marketplace lending crackdown as being likely to shrink the industry by as much as 70 percent this year. In the U.S., In June, the U.K.’s

Compliance 117

Compliance Risk Management Lending Regulation 117

PYMNTS

MAY 29, 2019

Reports in Reuters on Tuesday (May 28) said UBS expects its regulatory costs to remain high in the years ahead after a decade of more stringent regulations leading to heavier, more costly burdens on banks. “That has tied up enormous resources.” “Why is this so significant?

Regulation 108

Regulation Compliance Capital Resources 108

Insights on Business

MAY 1, 2019

A recently published Thomson Reuters study titled “ Fintech, Regtech and the Role of Compliance in 2019 ” found that a new regulatory alert is issued every seven minutes. To date, it seems that the way for an organization to keep pace with change, manage risk and improve compliance has been to hire and spend more. Read the report here.

Compliance 141

Compliance United States Regulation Study 141

PYMNTS

AUGUST 14, 2019

We have received the data localization compliance system audit report from WhatsApp, which shall be reviewed in the next few weeks,” a Mumbai-based representative for NCPI said, according to Bloomberg. India’s digital payments market is expected to hit $1 trillion by 2023, according to a report by Credit Suisse Group AG.

Compliance 100

Compliance National Payments Trends 100

PYMNTS

OCTOBER 12, 2020

regulators cracked down on the firm Oct. regulators not coming as a surprise. The money will be used to help Aave expand into the Asian market, and help it achieve more institutional adoption. Mishra said he’d already been seeing the “Wild West”-like nature of the crypto derivatives space, with the new activity from U.S.

Bitcoin 261

Bitcoin Compliance Lending Regulation 261

CFPB Monitor

OCTOBER 12, 2022

The Bill has drawn criticism from credit industry trade groups such as the American Financial Services Association. Among other criticisms, the trade groups assert that the Bill would impose difficult, if not impossible, compliance burdens on lenders that will result in decreased credit access and higher cost loans.

Regulation 144

Regulation District of Columbia Policies Groups 144

PYMNTS

MARCH 9, 2020

The group, which represents brands including Clorox and Colgate-Palmolive, among others, wants the Justice Department to stop merchants from heavily increasing prices on key coronavirus prevention supplies, such as masks and hand sanitizer, CNBC reported.

Groups 144

Groups Branding Fraud Compliance 144

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. Right now, 5 percent of the money transmission market is digital,” Nazzaro said. “[But] Digitizing Identity Verification.

Compliance 101

Compliance Regulation Online Payments 101

PYMNTS

AUGUST 1, 2019

Investigators from the Federal Reserve carried out an inspection of Amazon ’s cloud in April as Washington looks into ways to regulate companies that provide the service. People familiar with the matter said the regulators were most interested in looking at Amazon’s resiliency and backup systems. Just last week, U.S.

Regulation 108

Regulation Washington Virginia Seattle 108

CFPB Monitor

AUGUST 8, 2022

Eight national trade groups have filed a petition with the CFPB that urges the Bureau to engage in rulemaking to define larger participants in the market for data aggregation services. The CFPB is currently engaged in rulemaking to implement Section 1033 of the CFPA.

Groups 78

Groups Data National Marketing 78

PYMNTS

DECEMBER 13, 2018

CUs are also actively communicating with law enforcement agencies, keeping regulators informed about suspicious activity, while receiving tips on noticeable trends that these same agencies are eyeing. AML Compliance Turns CUs Into Law Enforcement. However, their members are not the only ones with whom credit unions must regularly work.

Regulation 135

Regulation South Dakota ATM New York City 135

PYMNTS

DECEMBER 28, 2020

Recent regulatory crackdowns on Ant Group, Alibaba and Tencent show that China’s former tech darlings have run afoul with all-powerful political and regulatory regime in China. Reuters quoted Ant as saying in a statement that it would establish a “rectification” working group and fully implement the government’s requirements.

US 168

US Regulation Groups System 168

PYMNTS

JANUARY 8, 2021

The FinTech group is reportedly mulling setting aside a significant number of shares for users if it goes public, but it has yet to make any final decisions, according to Bloomberg, who cited unnamed sources. The company has also hired two new compliance officers.

Massachusetts 363

Massachusetts Fintech Millennials Retail 363

PYMNTS

OCTOBER 5, 2020

Regulation. Data Activist: Big Tech Not Following Transatlantic Data Transfer Regulations. The group, whose acronym is short for “None of Your Business,” contended that Whats App, Netflix and Airbnb did provide a response. House Antitrust Committee Witnesses Offer Big Tech Regulation Viewpoints. antitrust regulation.

Data 229

Data Google Compliance Apple 229

PYMNTS

FEBRUARY 9, 2018

The world’s first ICO regulations are coming, care of Gibraltar. The rapid global proliferation of initial coin offerings has become an issue of mounting concern among regulators and central banks around the world – in particular, the growth of ICOs has fueled massive growth in the cryptocurrency market in general.

Regulation 106

Regulation cryptocurrency United States Security 106

PYMNTS

AUGUST 24, 2020

Here’s the latest news from Facebook, Amazon and others, which are coming under increasing scrutiny from regulators, trade groups and politicians the world over. Regulations. German Gov’t Looks Into Amazon’s Use of Its Market Position Amid Pandemic. RILA Joins Trade Groups in Tackling Counterfeit Merchandise.

social media 152

social media Data Apple Compliance 152

PYMNTS

JULY 27, 2018

. — specifically the Building Engineering Services Association (BESA) and the Electrical Contractors Association (ECA) — have stated this month that the overwhelming majority of councils are not, in fact, doing their jobs of making sure that suppliers are meeting the 30-day payment terms mandated by the three-year-old Public Contracts Regulations.

Groups 100

Groups Payments Regulation Meeting 100

PYMNTS

OCTOBER 19, 2020

Regulation. Two government officials from European nations have advocated to have watchdogs engage in preventative measures against Big Tech to reduce their strength and handle on the market, according to reports. The new regulations would also reshape the manner in which these companies collect and harness information.

Taxes 143

Taxes Compliance Regulation Google 143

Abrigo

FEBRUARY 25, 2022

Takeaway 3 Keep an eye on updates to changing markets, including cannabis and antiquit ies trading . Codified risk-based approach The AMLA codified the risk-based approach for the first time, and a thorough risk assessment is necessary to justify businesses to your regulators. ?As What to Watch.

Regulation 195

Regulation Policies Compliance Washington 195

PYMNTS

MARCH 18, 2019

As such, the regulators and FIs seeking to crack down on these activities have their work cut out for them. . Money is the lifeblood that fuels any organization, and that includes terrorist and other criminal groups. banks increasing their AML compliance staffing tenfold between 2012 and 2017, according to one report.

Compliance 181

Compliance Regulation Chicago Tools 181

PYMNTS

JANUARY 23, 2020

s Competition and Markets Authority (CMA) issued its largest fine ever for Fender’s behavior. The regulator fined another music company, Casio Electronics, £3.7m After the company was revealed to have hidden important notebooks during a 2018 compliance investigation, Fender Europe was fined £25,000 for breaking CMA rules.

Compliance 131

Compliance Regulation Online Retail 131

Abrigo

JULY 13, 2023

The most vulnerable and targeted group is older adults (over 60), with a reported 3.1 Many victims are lonely or isolated and don’t understand cryptocurrency markets. According to the FBI , victims of investment fraud reported losses of $3.3 billion in 2022, a 127% increase from $1.45 billion in 2021. billion loss in 2022.

Fraud 195

Fraud cryptocurrency Training social media 195

PYMNTS

OCTOBER 11, 2018

This is just the start of our collaboration, and we look forward to rolling out our services across the group. Earthport supports us in doing this through the global reach of its payment network, which means our customers have access to established as well as emerging markets which are increasingly becoming more important.”.

Payments 189

Payments Compliance Regional Regulation 189

PYMNTS

MARCH 9, 2020

Banks on Wall Street are talking to regulators about waiving rules regarding brokers working remotely while the coronavirus makes its way through New York, according to a report by Reuters. The CEO of the Securities Industry and Financial Markets Association (SIFMA), Kenneth Bentsen Jr.,

New York 154

New York Regulation Meeting Industry 154

Insights on Business

JULY 1, 2019

Until recently, the words “customer experience” and “compliance” didn’t really come up in the same conversation – let alone exist in the same universe. There didn’t seem to be a need to connect this area, governed by rules and regulations, with the “front office” customer experience. Learn more at ibm.com/RegTech.

Compliance 96

Compliance Customer Experience Analysis Data 96

CFPB Monitor

JULY 12, 2022

However, regulators themselves have been criticized for encouraging de-risking by driving highly risk-adverse decisions by FIs, who are unwilling to take the chance and assume the compliance costs of doing business with specific customers who may in fact be “legitimate,” but whose risk profile is deemed to be high due to their group affiliation.

Regulation 78

Regulation ATM Operations Policies 78

CFPB Monitor

AUGUST 27, 2020

The CFPB has issued a new request for information about the credit card market that seeks comment on two related, but separate, reviews. The second review is the CFPB’s biennial review of the credit card market mandated by the CARD Act. The RFI is scheduled to be published in tomorrow’s Federal Register.). Section 610 Review.

Cards 78

Cards Marketing Compliance Innovation 78

PYMNTS

SEPTEMBER 14, 2020

For example, in April 2020 a RaaS (Ransomware as a Service) group called Sodinokibi (a former affiliate with the GrandCrab RaaS group) stated that future ransom request payments will be in Monero (XMR) rather than bitcoin (BTC) due to transaction privacy concerns," the agency states in its RFP. 1 have just taken effect.

blockchain 160

blockchain cryptocurrency Bitcoin Compliance 160

Insights on Business

APRIL 21, 2017

Quite the contrary, the industry had to adapt to an onslaught of new regulations in the aftermath of the Global Financial Crisis. A decade later, it may have to adapt to the dismantling of those same regulations but remain keyed up for the not-unrealistic possibility of another regulatory assault in a few years.

Technology 156

Technology Compliance Regulation Training 156

CB Insights

NOVEMBER 5, 2020

Distributed ledger technology (DLT) — which uses tech like blockchain to verify transactions without the need for a centralized authority — is gaining traction as a way to revamp capital markets infrastructure by making it more streamlined, improving transparency, and reducing associated fees. But financial incumbents are also making waves.

Capital 98

Capital blockchain Marketing Security 98

PYMNTS

NOVEMBER 22, 2019

Richard Ashton, deputy general counsel for litigation, enforcement and system matters, said at a conference in New York that the Federal Reserve is considering an audit of tech firms’ compliance policies and governance structures. Can we look at their overall compliance management program?”. The Annual Conference held Nov.

Security 116

Security Policies Conference Compliance 116

Insights on Business

MARCH 12, 2018

Gene Ludwig, the CEO and founder of Promontory Financial Group , recently sat down with Bloomberg Law in a wide-ranging interview to discuss his predictions for the future of RegTech, blockchain, and where he sees the markets going in the next three to five years. He sees the future of regulation continuing in two directions.

Groups 79

Groups blockchain cryptocurrency Regulation 79

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. The updated regulations are slated to take effect Oct.

Regulation 100

Regulation Cards Digital Banking social media 100

CFPB Monitor

AUGUST 1, 2022

The FHFA also issued a request for information (“RFI”) seeking public input on how to facilitate responsible innovation, identify barriers or challenges to implementing fintech into housing finance, support equity for homeowners and renters, and increase efficiency and effectiveness in the compliance and regulatory processes.

Financial Technology 78

Financial Technology Technology Fintech Compliance 78

Abrigo

DECEMBER 22, 2023

Smaller banks can be encouraged by these numbers, and S&P Market Intelligence predicts a return to relative construction industry normalcy in 2023. In this article, lending and credit risk expert Dev Strischek of Devon Risk Advisory Group outlined the keys to construction loan success. Read the buyer's guide to lending solutions.

Lending 221

Lending Risk Management Community Management 221