CFPB Monitor

APRIL 8, 2021

On April 1, 2021, the FDIC’s final rule issued in December 2020 revising its brokered deposits regulation became effective. The full compliance date for the final rule is January 1, 2022. The FDIC indicated in its announcement that it plans to make available a listing of entities that have submitted notices.

FDIC 78

FDIC Resources Regulation Compliance 78

Bank Innovation

MARCH 30, 2018

bank said it will be switching off access to 24 million customers as the bank restructures itself as required by national regulation. These changes were established by the Bank of England in 2011, and is referred […]. The major U.K.

Online 220

Online National Regulation Mobile 220

Abrigo

JANUARY 31, 2023

Recap and forecast The current state of AML/CFT regulations Terminology change Financial crime professionals have long referred to Bank Secrecy Act (BSA) compliance in conjunction with anti-money laundering efforts as “BSA/AML.” However, the regulatory movement since then has been slow. So far, that is.

Fraud 195

Fraud Training Regulation Trends 195

CFPB Monitor

JULY 29, 2022

and related entities (collectively, “Harris Jewelry”), a national jewelry retailer that markets and sells military-themed gifts, to resolve their lawsuit which alleged that Harris Jewelry had engaged in unlawful sales and credit practices targeting servicemembers.

National 78

National Retail Regulation New York 78

Abrigo

APRIL 18, 2022

Takeaway 3 As global interest in digital assets continues to rise, expect to see more regulation and even centralization of digital currency. It experienced a downward correction from 2018 to 2019, sometimes referred to as the "crypto winter." National objectives in cryptocurrency policy. Rapid Growth. Priorities. Promote U.S.

cryptocurrency 195

cryptocurrency Fraud United States Leadership 195

PYMNTS

JULY 28, 2020

This month’s Deep Dive examines how eCommerce platforms can appeal to merchants worldwide by catering to sellers’ preferences and tailoring their compliance approaches to different locations. . Complying With Payments Regulations. Global marketplaces must follow numerous regulations when issuing payments.

Marketing 159

Marketing Regulation National Operations 159

Abrigo

JULY 29, 2021

For this reason, FinCEN included this as a priority and a core national security concern for the United States. The Priorities emphasize this, and regulators will be expecting corruption to be part of an institution’s risk assessment. . BSA Rules and Regulation. BSA Rules and Regulation. BSA Rules and Regulation.

United States 195

United States Training Community Policies 195

PYMNTS

FEBRUARY 14, 2018

In reference to corporate governance, Wells has two months to boost board oversight and compliance efforts. There’s a lot of different metrics that you look at, but they’re all pointing to a slow but steady recovery,” he said, without giving any specifics. Wells can still lend and take deposits.

Regulation 100

Regulation Conference Compliance Lending 100

Insights on Business

MARCH 5, 2019

Reducing costs but appeasing regulators seems like an oxymoron, yet, many AML compliance and operations leaders are being asked to do just that. The question is, how to do this, while keeping the regulators happy? Even better, regulators have recently begun encouraging the application of these techniques.

Regulation 70

Regulation Compliance Analysis Innovation 70

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.” Responsible Innovation “.

cryptocurrency 146

cryptocurrency Innovation DC National 146

PYMNTS

NOVEMBER 30, 2020

The commission said it would refer the recipient of the penalty, Facebook Ireland Ltd., to the nation’s prosecution for a criminal probe. The Legal Metrology (Packaged Commodity) regulations that took effect beginning in January 2018 for online shopping platforms require that country of origin is shown on packaged items.

Taxes 130

Taxes Chicago Compliance Apple 130

CFPB Monitor

NOVEMBER 22, 2022

As previously reported in February 2019 federal regulators issued a joint final rule (the “Joint Final Rule”) to implement provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 (the “Act”) that require regulated financial institutions to accept private flood insurance policies.

Policies 148

Policies Meeting Exercises Regulation 148

Abrigo

JULY 23, 2021

The regulations are forthcoming, but institutions now should begin the process of performing a threat-focused risk assessment which will guide them where to focus their efforts. Below are terms and definitions that will be referred to in this article. Included as a Priority is Proliferation Financing. Foreign proliferation threats.

National 195

National Training United States Regulation 195

PYMNTS

AUGUST 14, 2019

The second was the rise of cryptocurrency (though during his remarks he tended to refer to it as Convertible Virtual Currency or CVC). It concerns me when I hear about some compliance budgets being cut by casinos looking to trim costs and retain gamblers,” he noted. The Team Oriented Nature Of Compliance .

Compliance 163

Compliance Las Vegas Mobile Data 163

PYMNTS

MARCH 18, 2019

But with education, employment, criminal and other records being heavily regulated and difficult to gather, verifying consumers can be a time-consuming and expensive process. For more thorough background check reports, Authenticating will refer customers to trusted industry leaders.

Fraud 108

Fraud Knowledge Base Regulation Data 108

CFPB Monitor

JUNE 21, 2021

As previously reported , the bill signed into law by President Biden on June 17, 2021 to create the Juneteenth National Independence Day actually results in an important change under the Truth in Lending Act (TILA) and Regulation Z. 6103(a) to add “Juneteenth National Independence Day, June 19” as a specified legal public holiday.

Lending 78

Lending Compliance Regulation National 78

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

Abrigo

JANUARY 21, 2020

Despite Federal ambiguity, State Regulators are beginning to clearly define their stances on cannabis banking. Compliance and anti-money laundering (AML) is going green… or is it? State Banking Regulators. I believe we will see more state banking regulators join them in 2020. National Credit Union Association.

United States 243

United States New York Regulation DC 243

CFPB Monitor

JANUARY 28, 2021

During the period covered by the report, the Bureau filed one fair lending public enforcement action and referred three ECOA matters to the DOJ. The report describes the most frequently cited Regulation Z and Regulation E violations during 2019.

Report 78

Report Leadership Lending Regulation 78

Abrigo

FEBRUARY 15, 2023

Develop your risk assessment with the AML/CFT priorities in mind Evaluating each FinCEN priority and addressing them in your financial institution's risk assessment is key to compliance. financial system to move funds that will be used for weapons against the United States or the United Nations countries. This checklist can help.

Fraud 195

Fraud United States Training Policies 195

CFPB Monitor

MAY 7, 2020

The Bureau states that “neither ECOA nor Regulation B mandate the use of any particular list of reasons. No-Action Letter Policy) to address potential compliance issues. In 2019, in addition to the Bureau’s three referrals to the DOJ, the FDIC referred two matters and the Federal Reserve and the NCUA each referred one matter.

Lending 78

Lending Report FDIC Policies 78

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? Illinois State Banking Regulators. I believe we will see more state banking regulators join them in 2020. National Credit Union Association.

Illinois 195

Illinois Regulation United States California 195

Abrigo

SEPTEMBER 10, 2021

Before the September 11 attacks, the BSA did not refer to terrorist financing as part of the illicit activity that law enforcement was concerned with preventing. The role of BSA staff was typical compliance and very task-oriented. October 26 is now nationally recognized as BSA/AML Day.) BSA Rules and Regulation.

Training 195

Training Risk Management Pennsylvania Resources 195

PYMNTS

JUNE 11, 2018

Change across the regulatory compliance landscape is de rigueur, and global in scope. Also in Australia, and apropos to small business lending, Prospa delayed issuing additional shares on the country’s stock exchange, in part due to pressure from financial services regulators in that country. Closer to home, in the U.S.,

Regulation 100

Regulation Community Bank Lending Industry 100

CFPB Monitor

APRIL 22, 2021

The agencies are the Comptroller of the Currency, Farm Credit Administration, FDIC, Federal Reserve Board, and National Credit Union Administration (Agencies). Recently, federal agencies proposed revisions to the Interagency Questions and Answers Regarding Flood Insurance. However, please see the following bullet point.

Policies 60

Policies Compliance Meeting Regulation 60

Abrigo

MARCH 4, 2022

Takeaway 2 FinCEN has issued numerous advisories about cybercrimes, which financial institutions should understand and reference. He won’t sit still for it,” James Clapper, former Director of National Intelligence under President Obama, said of the trade and financial sanctions during an interview Sunday on CNN. Global Tensions.

Exercises 195

Exercises Leadership Fraud Resources 195

CFPB Monitor

MAY 16, 2022

Small business lending—assessing whether there are disparities in application, underwriting, and pricing processes, redlining, and whether there are weaknesses in fair lending-related compliance. Student loan origination—lender’s policies and practices in underwriting or pricing.

Lending 148

Lending Report Memphis Tennessee 148

CFPB Monitor

MAY 3, 2021

The True Lender rule clarifies when, under existing law, a national bank is the “true lender” that makes a loan in the context of an arrangement between the bank and a non-bank entity that facilitates or services the loan.

North Carolina 60

North Carolina Lending National District of Columbia 60

CFPB Monitor

AUGUST 26, 2020

Regulators Provide Greater Transparency into BSA/AML Enforcement Process. Below are a few highlights from the two sets of guidance: The joint statement repeatedly emphasizes that isolated or technical deficiencies in BSA/AML compliance programs will not generally result in cease and desist orders.

Compliance 78

Compliance Training Regulation Examples 78

CFPB Monitor

DECEMBER 19, 2019

The OCC and FDIC have issued a joint proposal to revise their regulations implementing the Community Reinvestment Act (CRA). Although the Federal Reserve, OCC and FDIC, are the primary CRA regulators, the Fed did not join the proposal and presumably will issue a separate proposal.

FDIC 78

FDIC Regulation Community Retail 78

Abrigo

JUNE 13, 2022

According to the National Council on Aging (NCOA), this heartless crime is most likely under-reported due to victims' embarrassment. In what's now being referred to as the "Age Wave," ten thousand baby boomers will turn 65 every day until 2030, creating a larger pool of potential victims for fraudsters and scammers. Cannabis Banking.

Fraud 195

Fraud Training United States Survey 195

CFPB Monitor

DECEMBER 14, 2020

The CFPB recently issued a final rule amending Regulation Z ability to repay rule/qualified mortgage (QM) requirements to replace the strict 43% debt-to-income (DTI) ratio basis for the general QM with an annual percentage rate (APR) limit, while still requiring the consideration of the DTI ratio or residual income. 1 and II.A.4-5

Handbook 148

Handbook Compliance Regulation Meeting 148

CFPB Monitor

SEPTEMBER 13, 2018

57, disapproving of the CFPB’s Bulletin 2013-2 regarding “Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act.” They assert that action by the CFPB in derogation of those regulations would violate the Administrative Procedure Act. to discriminate against any person.

Rhode Island 60

Rhode Island District of Columbia North Carolina Vermont 60

CFPB Monitor

APRIL 12, 2021

The rescission document only references the Interagency Statement in a footnote, which states in relevant part for servicers: [The] statements provided that the Agencies did not intend to take public enforcement actions against entities in certain instances.

Policies 78

Policies Exercises Operations Regulation 78

Gonzobanker

FEBRUARY 1, 2024

For the bankers we talked with, acknowledging challenges—think NIM, credit, regulation, election uncertainty, unemployment and CRE—while portraying resilience created quite a few compelling narratives throughout the event. Five Hundred? (Oh

Conference 88

Conference FDIC Arizona Industry 88

CFPB Monitor

NOVEMBER 22, 2022

In particular, the report’s recommendations deserve attention because they are likely to influence future actions by the federal banking regulators and the CFPB. (The The report is also worthwhile reading for its discussion of the role of fintechs and other non-banks in providing consumer financial services and how that role has evolved.).

Fintech 78

Fintech Report Data Lending 78

CFPB Monitor

MAY 22, 2020

The guidance contains the following “core principles” for offering small-dollar loans: Offering loan products consistent with safe and sound banking, that treat customers fairly, and that comply with applicable laws and regulations. Effective management of credit, operational, compliance, and other risks. Federal law (12 U.S.C.

FDIC 78

FDIC Policies Lending Guidelines 78