Compliance, Illinois, Regulation and Security

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Illinois regulator issues proposed Predatory Loan Prevention Act regulations; lawsuits filed to block implementation of Act’s database reporting requirement and for declaration Act does not apply to pawn transactions

CFPB Monitor

JUNE 14, 2021

In March 2021, Illinois Governor Pritzker signed into law SB 1792 , which contains the Predatory Loan Prevention Act (the “Act”). The new law became effective immediately upon signing notwithstanding the authority it gives the Illinois Department of Financial and Professional Regulation (“IDFPR”) to adopt rules “consistent with [the] Act.”.

Illinois

Illinois Regulation Report Lending

Illinois Adds Facial Recognition To Driver’s ID Applications

PYMNTS

MAY 19, 2016

Among the proposed methods, facial recognition has long been a pie-in-the-sky solution, but Illinois is the latest state to show that there’s a future in the tech. The Chicago Tribune is reporting that Illinois is set to add facial recognition services to its driver’s license application process. ”

Illinois

Illinois Chicago System Security

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Webinars

Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

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Trending Sources

Stay On CFPB Payday Lending Rule Upheld

PYMNTS

MARCH 25, 2019

A federal judge late last week ordered a stay on the August 2019 compliance date tied to the “ payday lending rule ” mandated roughly two years ago by the Consumer Financial Protection Bureau (CFPB). The CFPB had asked the court to wait until a separate case had been decided. This is still illegal federally.”

Lending

Lending Illinois Compliance Chicago

Webinars

Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

MORE WEBINARS

Figure CEO: Figure Pay, National Bank Charter Will Boost Financial Inclusion

PYMNTS

NOVEMBER 23, 2020

In terms of mechanics, he explained, having a national bank charter in hand from the OCC means Figure will not have to obtain licenses to provide financial services on a state-by-state basis, but instead will be enabled to deliver its offerings on a nationwide basis while tailoring its compliance to the mandates of the OCC as sole regulator.

National

National blockchain Montana Lending

Leader of PA AG’s Consumer Financial Protection Unit describes active agenda in Ballard Spahr webinar

CFPB Monitor

SEPTEMBER 5, 2019

Nick also reported that since joining the unit, it has entered into nine Assurances of Voluntary Compliance, Pennsylvania consumers have received approximately $34 million in restitution, and companies have paid approximately $24 million in civil money penalties and payments to the PA Treasury. .

Indiana

Indiana Pennsylvania Delaware Illinois

13 Orgs And Corporate Giants Testing Out Blockchains And Distributed Ledgers

CB Insights

FEBRUARY 22, 2018

Digitized, secure, and tamper-proof blockchain ledgers are promising to disrupt the database as we know it. The bank also mentioned it is considering securing the custody of the coins. UBS, BARCLAYS, CREDIT SUISSE, AND OTHERS ARE PILOTING COMPLIANCE PLATFORM ON ETHEREUM. ILLINOIS GOVERNMENT PILOTING LEDGERS FOR LICENSING.

blockchain

blockchain Illinois cryptocurrency Industry

Springboard to Excellence

Independent Banker

SEPTEMBER 21, 2015

ICBA’s in-depth certification programs vault compliance officers to the highest standards. imberly Anderson, senior vice president and chief administrative officer of Cañon National Bank in southern Colorado, became her community bank’s loan compliance officer in 2003. By Ed Avis.

Compliance

Compliance Community Bank Community Training

NJ Legislators Propose Tighter Data Privacy Regulations

PYMNTS

MARCH 2, 2020

New Jersey joins Washington, Illinois and other states and regions in introducing data privacy laws. The California Consumer Privacy Act went into effect in January, and the European Union’s General Data Protection Regulation ( GDPR ) went into effect in 2018.

NJ New Jersey Regulation Data

The community bank’s complete guide to building trust

Independent Banker

SEPTEMBER 30, 2021

Building trust in your institution has a lot to do with technology, from implementing strong data security practices to humanizing your online customer interactions. Penetration testing, or pen testing for short, has become a staple of bank IT security programs because hacking threats are constantly evolving. Elizabeth Judd.

Community

Community Community Bank social media Security

Fintech Fundings: 21 Companies Raise $460 Million Week Ending April 1

Fintech Labs Insights

APRIL 4, 2016

Bluefin Payments received $6 million to expand its secure payment system. HQ: Chicago, Illinois. Tags: SMB, payments, security, merchants, acquiring, FinDEVr alum. Stratumn grabbed $670,000 for its blockchain services. Here are the fintech deals by size from 26 March to 1 April 2016: Ceridian. Latest round: $10.03 EDJ Analytics.

New York City

New York City Company Fintech California

Why Digital IDs Need A ‘Trust Anchor’

PYMNTS

FEBRUARY 22, 2019

For example, the Illinois Supreme Court ruled earlier this year that companies can be sued for biometric data collected without users’ consent. Compliance impacts friction — likely increasing it. PSD2 is here, of course, changing the way consumers and companies access data. Introducing Biometrics Into the Mix.

Data

Data Illinois Taxes Customer Experience

17 Of The Biggest Startup Frauds Of All Time

CB Insights

MAY 23, 2019

Zenefits skirts compliance regulations. After a comprehensive investigation by the Securities and Exchange Commission, Holmes was banned from the laboratory testing industry for two years and was ultimately charged with wire fraud by the Department of Justice in summer 2018. Zenefits skirts compliance regulations.

Fraud

Fraud Las Vegas Company Video

Fintech Fundings: 27 Companies Raise $345 Million Week Ending August 14

Fintech Labs Insights

AUGUST 14, 2015

million), mobile security provider Tyfone ($6.6 HQ: Highland Park, Illinois. Mobile security & payments. Mobile & payment security . Tags: 500 Startups (accelerator), bitcoin, security, regulation. Total raised: $90 million. Source: Finovate. Maestro Health. Latest round: $35 million. Cloudability.

New York City

New York City Company Fintech New York

Student loan servicing developments in California, Illinois, and Washington; legislation introduced in Virginia and New Mexico

CFPB Monitor

JANUARY 8, 2019

The new year heralds many new developments in the state regulation of student loan servicers. California, Illinois, and Washington have each taken significant steps in implementing their existing laws while legislation has been introduced in Virginia and New Mexico to regulate student loan servicers for the first time.

New Mexico

New Mexico Illinois Virginia Washington

Cannabis Banking in Illinois: Mitigating Reputation Risk to Financial Institutions

Abrigo

FEBRUARY 24, 2020

Despite Federal ambiguity, Illinois State Regulators defined their stances on cannabis banking. Compliance and anti-money laundering (AML) is going green… or is it? While marijuana is legal in the state of Illinois, it remains illegal at the federal level. Illinois State Banking Regulators. GET STARTED.

Illinois

Illinois Regulation United States California

Community Banking Brief

Illinois regulator issues proposed Predatory Loan Prevention Act regulations; lawsuits filed to block implementation of Act’s database reporting requirement and for declaration Act does not apply to pawn transactions

Illinois Adds Facial Recognition To Driver’s ID Applications

Webinars

Trending Sources

Stay On CFPB Payday Lending Rule Upheld

Webinars

Figure CEO: Figure Pay, National Bank Charter Will Boost Financial Inclusion

Leader of PA AG’s Consumer Financial Protection Unit describes active agenda in Ballard Spahr webinar

13 Orgs And Corporate Giants Testing Out Blockchains And Distributed Ledgers

Springboard to Excellence

NJ Legislators Propose Tighter Data Privacy Regulations

The community bank’s complete guide to building trust

Fintech Fundings: 21 Companies Raise $460 Million Week Ending April 1

Why Digital IDs Need A ‘Trust Anchor’

17 Of The Biggest Startup Frauds Of All Time

Fintech Fundings: 27 Companies Raise $345 Million Week Ending August 14

Student loan servicing developments in California, Illinois, and Washington; legislation introduced in Virginia and New Mexico

Cannabis Banking in Illinois: Mitigating Reputation Risk to Financial Institutions

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