PYMNTS

AUGUST 14, 2019

The National Payments Corp. of India is reviewing an audit report to ensure WhatsApp complies with local rules. “We 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.

Compliance 100

Compliance National Payments Trends 100

PYMNTS

NOVEMBER 9, 2020

Regulation. EU Gears Up To Propose New Big Tech Regulations. The European Commission will soon put forward a “revolutionary” revamp of digital rules that could negatively impact Big Tech’s business models, CNBC reported, citing experts. Australian Regulator Looks Into Merger Law Changes.

Regulation 211

Regulation social media Compliance California 211

Abrigo

AUGUST 31, 2023

Teaching staff these KYC tips to make clients feel more comfortable In 2023, KYC procedures must both support CDD compliance and make sure your institution is a welcoming place for all customers. You might also like this resource, "Customer due diligence checklist."

Compliance 195

Compliance Community Training System 195

CFPB Monitor

JUNE 1, 2023

We are pleased to report that Ballard Spahr’s Consumer Financial Services Group has once again received the highest national ranking from Chambers USA: America’s Leading Lawyers for Business. The Group was ranked in the highest tier nationally in the Compliance category of Financial Services Regulation: Consumer Finance.

National 78

National Groups Compliance Regulation 78

PYMNTS

NOVEMBER 6, 2020

has sought a national bank charter from the Office of the Controller of the Currency (OCC), which will let it meet “promises of efficiency, affordability and financial inclusion,” according to a Friday (Nov. Financial services firm Figure Technologies, Inc. 6) announcement.

National 163

National blockchain Lending Regulation 163

PYMNTS

APRIL 8, 2019

Australian financial regulators are feeling pressure to ensure financial institutions treat customers properly and have turned to artificial intelligence (AI) in an attempt to improve compliance, according to a report by the Financial Times. The trend is starting to appear nationally.

Compliance 108

Compliance Regulation Industry National 108

PYMNTS

MARCH 30, 2020

Bank regulators have rolled back the Jan. 1 accounting standard known as “current expected credit loss” (CECL) in an effort to bolster loans in the wake of the coronavirus, the Wall Street Journal reported on Friday (March 27). National bank regulators — The Federal Reserve, Federal Deposit Insurance Corp.

Report 166

Report US FDIC National 166

CFPB Monitor

MAY 24, 2021

We are pleased to announce that Ballard Spahr’s Consumer Financial Services Group has once again received the highest national ranking from Chambers USA: America’s Leading Lawyers for Business. This year, Chambers USA added Enforcement & Investigations as a new category for Financial Services Regulation: Consumer Finance.

National 148

National Groups Regulation Compliance 148

PYMNTS

JULY 1, 2020

The Office of the Comptroller of the Currency (OCC) said in a report this week that it will examine how the coronavirus is impacting compliance by financial institutions (FIs). As noted in this space last month, Brian Brooks, acting Comptroller of the Currency, said in letters to the National League of Cities, U.S.

Compliance 166

Compliance National Fraud Operations 166

PYMNTS

SEPTEMBER 13, 2019

To enable continued innovation and growth in the digital economy, the Business Roundtable is asking Congress to pass a comprehensive consumer data privacy law that establishes a national privacy framework and strengthens protections for consumers. fines) would be for non-compliance. companies. This would help the management of U.S.-based

National 129

National Compliance Data Regulation 129

Independent Banker

DECEMBER 31, 2022

The FDIC issued guidance about the consumer compliance risks associated with assessing NSF arising from the re-presentment of the same unpaid transaction. On May 5, 2022, the federal bank regulators jointly released a notice of proposed rulemaking (NPR) to strengthen and modernize the Community Reinvestment Act (CRA) regulations.

Compliance 100

Compliance FDIC Community Bank Community 100

PYMNTS

JUNE 14, 2017

Tax and accounting compliance can be an overwhelmingly monumental task as companies expand their geographic footprint. Analysts agree that a company should work with partners, advisors and technologies that can help them manage their compliance demand across borders. There are also an “extremely high number” of tax rules.

Compliance 146

Compliance Marketing Taxes Groups 146

Perficient

APRIL 2, 2021

The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the. Office of the Comptroller of the Currency (OCC). Cybersecurity.

Regulation 309

Regulation Industry Risk Management Analysis 309

PYMNTS

DECEMBER 18, 2018

As well, the form has a long history of transmitting national values and providing cultural, political and even economic education — one need only dig deep into the comic scene during World War II to understand that. 18) that is has released a free comic and coloring book entitled “ The Adventures of ID Man and Compliance Kid.”.

Compliance 152

Compliance Fraud Security FDIC 152

Perficient

DECEMBER 22, 2023

This mitigates the risk of customer service representatives providing incorrect information and ensures compliance with regulatory disclosures, ultimately enhancing the overall customer experience while reducing costs. Contact our experts today if you are interested in learning more about up-and-coming news in financial services.

Risk Management 221

Risk Management Compliance Fraud Regulation 221

Abrigo

JANUARY 3, 2024

New BOI requirements and how financial institutions can comply Here's what FinCEN's recent final rule for beneficial ownership information (BOI) reporting says and how anti-money laundering (AML) programs will access BOI information. WATCH NOW Introduction Changes to beneficial ownership reporting Takeaway 1 Effective Jan.

Fraud 221

Fraud Regulation Report Compliance 221

PYMNTS

DECEMBER 3, 2019

Banks no longer have to submit a suspicious activity report (SAR) just because a business is growing or cultivating hemp. Financial institutions should follow standard SAR procedures and submit a report only if there is questionable behavior.

Regulation 137

Regulation Guidelines FDIC Conference 137

PYMNTS

DECEMBER 7, 2020

UK Regulations to Create New Digital Markets Unit. antitrust regulators are creating a Digital Markets Unit that will be given the duty to enforce rules applicable to Big Tech firms. Regulators also called out the tech company’s warranty terms for not covering water damage. a lab with pure water).

Apple 143

Apple Regulation Taxes Marketing 143

CFPB Monitor

JUNE 1, 2022

We are pleased to report that Ballard Spahr’s Consumer Financial Services Group has once again received the highest national ranking from Chambers USA: America’s Leading Lawyers for Business. The Group was ranked in the highest tier nationally in three categories: Compliance, Litigation, and Enforcement & Investigations.

National 78

National Groups Regulation Compliance 78

PYMNTS

OCTOBER 16, 2019

Between $800 billion and $2 trillion USD is laundered each year, according to the United Nations Office on Drugs and Crime. The Cost of Compliance. Scandal and fraud tarnishing banks’ reputations aside, the impact that AML compliance controls have had on these banks’ bottom lines can’t be underestimated.

Compliance 123

Compliance Fraud Study Digital Banking 123

PYMNTS

JULY 1, 2019

When it comes to the new and emerging legal cannabis industry – along with the closely related trade in CBD products – payments and compliance issues, as one can imagine, have tremendous importance, and companies are striving to get into the game via those angles. While CBD does not get people high, it does reportedly relieve stress and pain.

Compliance 167

Compliance Industry Payments Policies 167

PYMNTS

JULY 21, 2020

Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. Regulators in other regions, including Latin America, are also shaping and announcing plans to enable open banking and better support digital financial systems.

Mobile 229

Mobile Report America Regulation 229

Perficient

AUGUST 16, 2023

A rather small bank, as of the end of its first quarter, the bank reported $139 million in total assets and $130 million in total deposits in its FDIC Call Report. Heartland Tri-State began operations in 1985 under the name First National Bank of Elkhart. bank to fail this year.

United States 221

United States Kansas FDIC Risk Management 221

PYMNTS

OCTOBER 5, 2020

Regulation. By providing a national servicing platform, the charter would enable those kinds of companies to bypass the process by which they have to collect money transmitter licenses from states. million) of Irish government aid, as reported in the past. House Antitrust Committee Witnesses Offer Big Tech Regulation Viewpoints.

Data 229

Data Google Compliance Apple 229

CFPB Monitor

MAY 16, 2022

The CFPB recently issued its annual fair lending report covering its fair lending activity in 2021. . 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.

Lending 148

Lending Report Memphis Tennessee 148

Independent Banker

SEPTEMBER 25, 2014

This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. The better prepared, the less likely they are to run afoul of the continually shifting regulations. Here are several timely suggestions to consider based on recent regulatory trends they see.

Compliance 101

Compliance Regulation Community Bank Community 101

CFPB Monitor

APRIL 25, 2022

As we will discuss, the timing of the Consent Order indicates that even when regulators permit crypto activities by financial institutions, they remain cautious, particularly as to BSA/AML compliance. In January 2021, the OCC granted Anchorage conditional approval for a national trust bank charter.

Compliance 78

Compliance Digital Banking Training South Dakota 78

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

JANUARY 17, 2024

The United Nations estimates there are currently 40 million people enslaved around the world, and that one-quarter of them are children. Prevention and detection AML red flags for human trafficking For financial crime professionals, it can be challenging to track, detect, and report human trafficking based on financial transactions.

Training 259

Training Community Software Texas 259

PYMNTS

SEPTEMBER 23, 2020

A study from the Cifas National Fraud Database found that identity theft against consumers over the age of 61 rose by 22 percent in 2019, contributing to an 18 percent increase in identity theft overall. British banks spend upward of £6.7 billion ($8.9 For more on these and other financial crime news items, download this month’s Playbook.

Technology 208

Technology Report Fraud Study 208

CFPB Monitor

OCTOBER 20, 2022

We also review the CTA’s new beneficial ownership reporting requirements and discuss how they interact with existing customer due diligence (CDD) requirements and the need to align CTA and CDD regulations. Peter Hardy and Terence Grugan, Ballard Spahr partners and co-leaders of the firm’s AML Team, host the conversation.

Compliance 78

Compliance National Trends Regulation 78

PYMNTS

JULY 2, 2018

Bank was fined $600 million for failing to flag and report suspicious activity according to anti-money laundering (AML) requirements. According to John Epperson, principal at Crowe LLP , that goes to show that the current approaches to regulatory and compliance technology ( RegTech ) aren’t working. Common Concerns. Why RegTech?

Compliance 109

Compliance Regulation Meeting Strategy 109

Bobsguide

OCTOBER 16, 2018

When the Financial Stability Board (FSB) published its guidelines to national and regional regulators to encourage greater oversight into financial markets, even they couldn’t foresee the deluge of rules and compliance requirements those regulators would begin to craft. In Europe, the most.

Guidelines 115

Guidelines Report Data Regional 115

PYMNTS

FEBRUARY 17, 2020

increased regulation over content delivered online through platforms may be on the horizon. This past week, Britain’s federal government said its media regulator, known as Ofcom, would be given new oversight to monitor and regulate material posted on the web by companies such as Facebook, Google and Twitter. In the U.K.,

Regulation 140

Regulation Google Operations Company 140

PYMNTS

JULY 5, 2019

The Bank of Japan ( BOJ ), Japan’s central bank, has joined in with other regulators and officials around the world in its worry over Facebook’s proposed cryptocurrency Libra , according to reports. . Some lawmakers wrote a letter to Facebook expressing concern about past issues with data and privacy. “It

Regulation 102

Regulation cryptocurrency United States Policies 102

South State Correspondent

JANUARY 16, 2024

BSBY was not well received by US regulators from its inception, but the market eventually embraced SOFR over BSBY. The documentation was lengthy and complex, the regulatory compliance and reporting was cumbersome, the accounting was tricky, and the overhead cost of launching a hedging program was challenging. No ISDA documents.

Community Bank 195

Community Bank Community Compliance CA 195

Abrigo

JUNE 27, 2023

Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases. The limited regulation around the real estate industry has made it especially easy for these bad actors to cycle their dirty money into the financial system using this avenue. In 2017, over 5.51

El Paso 195

El Paso Miami United States New York City 195