PYMNTS

OCTOBER 19, 2020

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. Regulation. Netherlands, France Advocate For Action Against Big Tech. EU Watchdogs Create ‘Big Tech Hit List’. and Microsoft Corp.

Taxes 143

Taxes Compliance Regulation Google 143

PYMNTS

JULY 7, 2020

The letter, from RILA President Brian Dodge , was addressed to National Governor’s Association Chair Lawrence Hogan (MD) and Vice Chair Andrew Cuomo (NY), asking them to push for specific and consistent mask mandates. RILA has finally had enough of the trend, and asked two governors for help in a letter released on Tuesday morning (July 7).

Retail 151

Retail Groups social media Policies 151

PYMNTS

NOVEMBER 2, 2020

The ministry’s AML and CFT policies incorporate the suggested policies set by the Financial Action Task Force (FATF) and will be monitored by the Caribbean Financial Action Task Force (CFATF). During phase one, VASPs will have to demonstrate their compliance with these standards, according to the release.

Bitcoin 160

Bitcoin Policies Groups cryptocurrency 160

PYMNTS

FEBRUARY 24, 2020

Financial institutions (FIs) and merchants from other regions have been dipping their toes into the Chinese market, but open banking has compounded the difficulty involved in setting up operations. The country’s government and regulators are keeping pace with those in the European Union and the U.S. The law is still ambiguous.

Regulation 160

Regulation Policies Data Compliance 160

Abrigo

APRIL 6, 2022

In this guest column by Jeffrey Taft and Matthew Bisanz of Mayer Brown 's Financial Services Regulatory & Enforcement practice, learn more about how to be ready for compliance. For these purposes, a financial institution includes a national or state bank, a savings association, an Edge or agreement corporation, a U.S.

Security 195

Security Regulation District of Columbia United States 195

CFPB Monitor

MAY 31, 2022

On May 19, 2022, the Associate Director of the Enforcement and Compliance Division of the Financial Crimes Enforcement Network (“FinCEN”), Alessio Evangelista, spoke at the Chainalysis Links Conference in New York City on the topic of “The Intersection of Cryptocurrencies and National Security.”

cryptocurrency 146

cryptocurrency Innovation DC National 146

PYMNTS

FEBRUARY 25, 2020

Local company and regulator movements often provoke immediate responses from their counterparts in other markets, but these shifts are often born out of the perception that China has lax data privacy policies. The reality is that the nation approaches cybersecurity and Open Banking from another angle. Confronting Chinese Compliance .

Regulation 140

Regulation Compliance Online Data 140

PYMNTS

JULY 5, 2019

Some are worried that the fact that Libra could be tied to several national currencies means that Facebook is trying to avoid being under control from any particular country. . They also talked about how Libra could operate as a brand new global currency. “It monetary policy and the dollar.

Regulation 102

Regulation cryptocurrency United States Policies 102

PYMNTS

SEPTEMBER 11, 2019

“In focusing on innovation, we want to examine how we can focus more industry and government resources on priority areas of national security and high-value illicit crimes.”. El-Hindi made it clear that he doesn’t want to sacrifice innovation in pursuing anti-money laundering (AML) and other anti-illicit policies.

social media 116

social media Compliance Innovation Regulation 116

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

MAY 22, 2019

In a letter, Snapdeal said some unnamed companies were taking advantage of “glaring loopholes” to operate inventory-based eCommerce models, adding that the “loud protests” over the new rules were an “indication of how effective this regulation” will be. However, it was reported that the platform has been struggling to meet orders as of late.

Meeting 116

Meeting Capital Policies Compliance 116

PYMNTS

AUGUST 29, 2017

federal and state laws require financial institutions to set policies and procedures to detect and prevent illicit money transfers, including screening customers and reporting suspicious transactions to regulators. Habib Bank has submitted an application to DFS to shut its New York operations. That bank still has a New York branch.

New York 102

New York Regulation Compliance United States 102

PYMNTS

JANUARY 28, 2019

25, reported Snapdeal said some unnamed companies were taking advantage of “glaring loopholes” to operate inventory-based eCommerce models. Every nation has a right to frame policies that best suit its economic and social needs,” Snapdeal said in its letter. Reuters , citing the letter Snapdeal penned on Jan.

Compliance 116

Compliance Regulation Policies Meeting 116

PYMNTS

JANUARY 29, 2018

For the businesses that are aware, a bit more than a quarter said they’ve made changes to their operations in order to comply with the new rules aimed at data privacy and security. But businesses shouldn’t only look at compliance as the key motivator behind adopting GDPR rules.

Cyber Security 112

Cyber Security Survey Regulation Security 112

CFPB Monitor

NOVEMBER 29, 2021

The 2022 clarity promised by the “roadmap” presumably will supersede, once issued, Interpretive Letter #1179, which appears to function as a general stop-gap until the 2022 publications hopefully provide more detail regarding exactly how banks can attain compliance. Federal banking regulators have been busy in this space.

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

Independent Banker

SEPTEMBER 30, 2021

Not keeping up with a core vendor’s releases can also be costly to a community bank if it doesn’t leverage them, as releases often provide critical and important regulatory, compliance and feature function updates, says Maria Schuld, division executive, Americas Banking Solutions at FIS, which is headquartered in Jacksonville, Fla.

Community Bank 91

Community Bank Community Milwaukee Jacksonville 91

PYMNTS

SEPTEMBER 5, 2017

Perhaps more concerning is the fact that researchers found the cost of compliance continues to rise, with more than two-thirds of the professionals surveyed reporting that compliance has become more expensive in the last year alone. The director said that cost of compliance was the most surprising finding from the report.

Compliance 118

Compliance Survey Training Regulation 118

PYMNTS

OCTOBER 24, 2019

The attorney general said that Kansas’ economic nexus policy conflicted with the model established in the Wayfair ruling. Fights aren’t just being waged over how cities and states can enact economic nexus policies. Small retailers may be struggling with Kansas’ law, but large retailers are meanwhile coming under fire in South Carolina.

Taxes 101

Taxes San Jose Kansas South Dakota 101

Abrigo

JUNE 19, 2022

Takeaway 1 The ELE tool for CECL from the Fed is aimed at reducing the operational burden of implementation ahead of the 2023 deadline. . And while regulators said some institutions would find the ELE tool useful for CECL, they acknowledged it did not represent a preferred method of regulators or a “safe harbor” method for GAAP compliance.

Tools 195

Tools Regulation Data Resources 195

PYMNTS

AUGUST 20, 2018

The survey stretched across 77 C-level executives, IT managers and others — and of that tally, 76 percent of firms are not currently in compliance with their own information governance policies. As many as 85 percent of firms are boosting budgets over the previous year’s, tied to data privacy and compliance.

Fintech 101

Fintech Survey Regulation Resources 101

CFPB Monitor

OCTOBER 9, 2018

regulatory agencies—the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the U.S. Ultimately,” the Statement warns, “each bank is responsible for ensuring compliance with BSA requirements.

Resources 68

Resources Compliance Community Bank Community 68

PYMNTS

DECEMBER 18, 2018

These schools are publicly funded but operate independently from traditional public schools, adhering to specific school and local or district authority guidelines. According to the National Alliance for Public Charter Schools’ latest figures , approximately 7,000 charter schools are currently educating more than 3.2

District of Columbia 122

District of Columbia Cards Colorado Management 122

CFPB Monitor

SEPTEMBER 9, 2020

Ballard Spahr LLP has submitted a comment letter to the OCC in support of its proposed rule , “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”). Three virtually identical Federal Interest Statutes govern interest that may be charged by Banks: Section 85 of the National Bank Act (“NBA”), 12 U.S.C. §

FDIC 78

FDIC National South Dakota Lending 78

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 70

Compliance Community Bank Community Training 70

CFPB Monitor

JANUARY 12, 2021

Volume I (798 pages) contains a historical and economic overview of consumer finance, covers the key principles guiding federal consumer financial law and policy, and discusses particular topics that the Taskforce considers important to the Bureau’s work. The report consists of two volumes. Enforcement.

Report 78

Report Regulation Policies Compliance 78

Abrigo

MAY 19, 2016

Monitoring credit risk management, interest rate risk and banks’ ability to stress test loans affected by low oil prices are among the priorities for supervisors at the Office of the Comptroller of the Currency (OCC) these days, according to the agency’s recent mid-year status report on its operating plan.

Risk Management 150

Risk Management Management Analysis Resources 150

PYMNTS

MARCH 30, 2017

“The tension that the CFO is experiencing between priorities inside and outside of the finance function increases the need to streamline processes through technology, which, in turn, promotes more integration between finance, risk, treasury and operations.”. Policy changes abound in Washington, D.C.,

Analytics 100

Analytics Risk Management Management Data 100

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

PYMNTS

MAY 22, 2017

The ransomware attack affected a range of players, including delivery services like FedEx, automakers including Renault and Nissan, transportation operations such as Germany’s Deutsche Bahn and even medical systems such as the U.K.’s s National Health Service. The pain point doesn’t seem to be high enough [for banks],” he said.

Regulation 116

Regulation National Online System 116

BankUnderground

FEBRUARY 24, 2022

We build a data set of the identity characteristics of senior managers for gender, age and nationality diversity in all PRA-regulated banks over the last two decades (total of 181). Chart 2 shows the trends for four categories of functions: CEOs; executive; oversight (non-executive directors); and risk/compliance/audit personnel.

Trends 65

Trends Regulation Data Policies 65

CB Insights

SEPTEMBER 11, 2018

Facebook: WhatsApp policy program manager for elections. Apple: Director of privacy compliance. These efforts could get a PR boost if Google fills another open position for a policy communications manager for privacy and security. Facebook & Apple focus on Privacy & Compliance Policies.

Google 48

Google Apple Policies social media 48

PYMNTS

APRIL 30, 2018

The GDPR affects any company or organization that operates, stores or processes personal data belonging to EU citizens, defined as “any information relating to an identified or identifiable natural person (data subject).”. Each EU member nation has a DPA in place to both monitor compliance and respond to potential violation complaints.

Data 119

Data Compliance social media Regulation 119

PYMNTS

FEBRUARY 4, 2020

The legalization of sports gambling requires an important policy choice, but the choice is not ours to make,” Justice Samuel Alito wrote in the 6-3 opinion. In a microcosm of the national expansion, New Hampshire’s newly online sports gambling program raked in $2.31

Online 134

Online New Hampshire Rhode Island District of Columbia 134

PYMNTS

NOVEMBER 2, 2020

UN Committee Indicates Support For Initiative To Tax Big Tech In Developing Nations. The United Nation’s Tax Committee of Experts has indicated support for an initiative to assist developing nations in taxing Big Tech, Bloomberg Tax reported on Wednesday (Oct. The committee voted 12-10 Friday (Oct. and Facebook Inc. each month.

Taxes 212

Taxes National Regulation Google 212

FICO

JULY 31, 2019

These steps can help businesses in the US and other countries not only meet regulatory compliance requirements but ensure they understand and can manage the risk of their vendor and partner networks. Where does the vendor operate (e.g., Would there be compliance exposure in the event of a breach at the supplier? regions, cloud)?

Cyber Security 70

Cyber Security Management Security Risk Management 70

CFPB Monitor

JULY 8, 2019

With regard to small business lending, the Bureau focused on assessing whether (1) there is discrimination in application, underwriting, and pricing processes, (2) creditors are redlining, and (3) there are weaknesses in fair lending related compliance management systems.

Lending 60

Lending Report Policies Compliance 60

FICO

NOVEMBER 1, 2016

These days, cybersecurity is a hot-button issue in policy circles. Look no further than the US presidential debates , where our two candidates have highlighted the need to address hackers, security breaches and even foreign nations that may be using sophisticated cyber tactics to influence the outcome of the upcoming November elections.

New York 40

New York Regulation Policies National 40