American Banker

JANUARY 19, 2024

The Federal Reserve and New York State Department of Financial Services fined the Industrial and Commercial Bank of China for violations related to a lack of internal controls for confidential supervisory information and anti-money laundering compliance failures.

New York 41

New York Compliance Industry Regulation 41

PYMNTS

AUGUST 29, 2017

The New York State Department of Financial Services (DFS) is looking to fine Habib Bank Ltd (HBL) nearly $630 million for failing to comply with state and federal laws at its only U.S. Reuters reported news that if the fine is imposed, it would be the largest ever faced by a Pakistani bank.

New York 102

New York Regulation Compliance United States 102

Bank Innovation

JULY 12, 2018

In New York State, perhaps anticipating a […]. For one thing, rising interest rates will increase their cost of funds, and perhaps make their offerings less attractive, and for another, regulations may arrive that make operating their businesses more expensive.

New York 225

New York Regulation Online Lending 225

Bank Innovation

FEBRUARY 17, 2017

In his recent 2017 budget proposal, Governor Andrew Cuomo outlined a few changes that might be in store for New York State fintechs, particularly online lenders. The Empire State really wants to be in charge of the fintech sandbox—and it wants the OCC out already. These changes include expanding the Read More.

New York 218

New York Fintech Online Compliance 218

CFPB Monitor

DECEMBER 6, 2022

Earlier this year, New York delayed the effective date of its new law requiring card issuers to provide a grace period for using credit card rewards points that was slated to be effective later this week. The delay means that the effective date of the new law is now December 10, 2023.

New York 78

New York Cards National Compliance 78

Payments Source

JANUARY 7, 2020

It’s also sparking a potential bottom-up approach in New York. Facebook’s Libra cryptocurrency project has drawn vast political pushback, but also more tangible government action as nations globally consider central bank supported digital currencies.

New York 112

New York cryptocurrency National blockchain 112

American Banker

MARCH 7, 2024

The New York bank has deployed generative artificial intelligence from Greenlite to help analysts do enhanced due diligence on clients with higher risk ratings.

Compliance 74

Compliance New York Technology 74

Bank Innovation

JANUARY 19, 2017

Ah, New York: If you can make it here, you can make it anywhere, but to even try, you need a license. After waiting a year, the lender SoFi received the thumbs up to operate in New York, CFO Michael Tannenbaum said recently. Luckily, SoFi and Coinbase just got theirs. Read More.

New York 150

New York Operations Bitcoin Lending 150

PYMNTS

APRIL 1, 2020

Consumer data privacy laws were making compliance difficult before a pandemic brought the world to a halt. businesses haven’t been trying, expending an estimated $82 million on compliance solutions in just the past 12 months. Are we living in those conditions now? No one is totally sure. Sixty-three percent of U.S. It’s not like U.S.

Compliance 153

Compliance Data Google Regulation 153

CFPB Monitor

MAY 3, 2022

On April 28, 2022 the New York Department of Financial Services (“NYDFS”) issued its Guidance on Use of Blockchain Analytics , a document directed to all virtual currency business entities that either have a NYDFS Bitlicense or are chartered as a limited purpose trust company under the New York Banking Law.

Analytics 147

Analytics Compliance blockchain Policies 147

CFPB Monitor

NOVEMBER 16, 2021

On November 1, New York Governor Hochul signed into law amendments (S.5246-A/A.6247-A) 6247-A) to the New York Community Reinvestment Act (NYCRA) that expand the NYCRA’s coverage to non-depository mortgage lenders. Expansion of CRA coverage. The amendments are effective November 1, 2022.

New York 78

New York Community Regulation Data 78

PYMNTS

FEBRUARY 22, 2019

Office of the Comptroller of the Currency (OCC), over deficiencies that the OCC identified in the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program. The OCC identified the deficiencies in the bank’s branches in New York, Los Angeles and Chicago. On Wednesday (Feb.

Compliance 108

Compliance Los Angeles New York blockchain 108

American Banker

APRIL 17, 2023

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New York 85

New York Compliance cryptocurrency Payments 85

American Banker

APRIL 17, 2024

The Office of the Attorney General in New York says the bank violated the state's Exempt Income Protection Act, illegally transferring customers' money to debt collectors.

Compliance 36

Compliance New York Community Bank Community 36

American Banker

FEBRUARY 9, 2024

In a surprise move this week, banking veteran Sandro DiNello was appointed executive chairman of the embattled Long Island-based company, whose stock plummeted in the face of questions about its financial health.

New York 83

New York Community Company Risk Management 83

CFPB Monitor

OCTOBER 25, 2022

Following up on a threat it made back in 2018 , the New York State Department of Financial Services (DFS) announced on October 6, 2022 that it entered into a consent order with Rhinebeck Bank (“Rhinebeck”) to settle discrimination claims involving discretionary dealer markups on retail installment contracts with minority borrowers.

New York 78

New York Lending Community Bank Community 78

CFPB Monitor

FEBRUARY 23, 2021

The New York Department of Financial Services (DFS) recently announced that it has entered into an agreement with Hunt Mortgage , a licensed mortgage banker, to address the DFS’s findings that there was a “demonstrable lack of lending to minorities and in majority-minority neighborhoods in Western and Central New York by Hunt Mortgage.”

New York 78

New York Lending Report Policies 78

American Banker

OCTOBER 20, 2023

The New York State Department of Financial Services and the Federal Reserve Board penalized Metropolitan Commercial Bank for failing to prevent $300 million in fraud in a prepaid card program. It is the latest example of a bank being sanctioned in connection with rampant fraud during the COVID-19 pandemic.

New York 36

New York Fraud Examples Cards 36

CFPB Monitor

JULY 8, 2019

Now, the New York Department of Financial Services has opened a similar investigation , in response to a request from the Governor of New York.

New York 60

New York Compliance Examples Groups 60

American Banker

JUNE 27, 2023

New York is seeking to procure a supercomputer to run artificial intelligence systems and gain a deeper understanding of the technology for more effective regulation.

New York 36

New York Regulation System Technology 36

American Banker

JUNE 9, 2020

The Department of Financial Services is going live with DFS FastForward, which aims to help innovators in finance, healthcare and insurance consult directly with regulators on specific compliance issues.

New York 73

New York Compliance Fintech Regulation 73

Banking Exchange

JULY 27, 2020

The senate and assembly have passed a bill requiring improvements to loan cost transparency for online lenders Compliance Fair Lending Feature3 Feature Covid19 PPP.

New York 78

New York Lending Compliance Online 78

Payments Source

JANUARY 9, 2019

The number of states not allowing surcharging on credit card purchases continues to dwindle, as New York now gives merchants the option to charge fees as long as they make the costs clear to consumers.

New York 64

New York Cards Compliance 64

BankInovation

AUGUST 2, 2022

s cryptocurrency arm was fined $30 million by New York’s financial regulator after the brokerage was accused of violating anti-money-laundering and cybersecurity rules. The unit must enlist an independent consultant to monitor compliance, according to an order filed Tuesday. Robinhood Markets Inc.’s The enforcement […].

New York 52

New York Regulation cryptocurrency Compliance 52

PYMNTS

JUNE 4, 2019

“We are really good at regulatory compliance,” Lyric Co-Founder and Chief Executive Officer Andrew Kitchell said in an interview with Bloomberg. It is also on the verge of opening its first location in America’s biggest city, New York. The startup is fully compliant in all 13 cities it operates in, he said. “We

Compliance 109

Compliance Innovation New York San Francisco 109

Payments Source

JUNE 18, 2018

shares climbed to their highest price ever after New York granted the company a virtual-currency license, letting customers in the state buy and sell Bitcoin. Square Inc.

New York 62

New York Bitcoin Company Compliance 62

Payments Source

DECEMBER 5, 2019

Those yard-long paper receipts that spew from cash registers may be following plastic bags and foie gras into the dustbin of New York City history.

New York City 83

New York City New York Compliance Retail 83

CFPB Monitor

OCTOBER 1, 2020

The enforcement grace period for the New York City Department of Consumer Affairs’ (“DCA”) new debt collection rules , ends today, October 1 st. The industry also understands that to be what DCA wants from a compliance standpoint, notwithstanding the literal language of the rule.

New York City 78

New York City New York Compliance Industry 78

PYMNTS

FEBRUARY 1, 2021

Manhasset, New York-headquartered Apple Bank For Savings will have to pay a $12.5 The bank was recently fined in a separate charge that it failed to comply with a 2015 request by the FDIC to improve its AML compliance. Apple Bank is chartered in New York and has locations across the state.

Apple 150

Apple FDIC New York Compliance 150

CFPB Monitor

MAY 2, 2022

A federal district court judge in the Southern District of New York ruled late last week that three credit unions had successfully established a likelihood of success on their claims that the retroactive application of New York’s recently-passed rate reduction law constitutes a regulatory taking in violation of the U.S.

New York 147

New York Exercises Policies Compliance 147

Payments Source

APRIL 17, 2018

New York Attorney General Eric Schneiderman asked 13 cryptocurrency exchanges for detailed information about their operations as part of a "fact-finding inquiry.".

New York 62

New York cryptocurrency Operations Compliance 62

Payments Source

DECEMBER 28, 2016

The New York State Department of Financial Services has modified its cybersecurity rule after bankers registered complaints at a hearing in Albany last week.

New York 60

New York Compliance 60

CB Insights

NOVEMBER 9, 2021

Laika , a compliance and security audit platform for software companies, has raised $35M in a Series B. New York-based Laika helps businesses obtain audits and security certifications as well as remain compliant with regulations. Laika has offices in New York and Costa Rica. and PayPal Ventures, among others.

Compliance 61

Compliance Software Security Company 61

The Paypers

JULY 12, 2021

US-based private equity firm K1 Investment Management has made a USD 120 million investment in New York-based Compliance Science , a fintech in the regulatory technology space.

Compliance 41

Compliance New York Fintech US 41

CFPB Monitor

AUGUST 14, 2018

On August 10, the New York Times reported that Mick Mulvaney, the CFPB Acting Director, intends to dispense with routine supervisory examinations of creditors for violations of the Military Lending Act (MLA). We agree with Acting Director Mulvaney that the CFPB lacks statutory authority to examine creditors for MLA compliance.

Compliance 101

Compliance Utah Lending New York 101

PYMNTS

SEPTEMBER 9, 2020

New York City will reinstate indoor dining as of Sept. The reason for the reopening of indoor dining, Cuomo said, is because compliance with distancing restrictions among New York City restaurants has now exceeded 99 percent. A recent report from New York City Comptroller Scott M.

New York City 141

New York City New York Apple Compliance 141

Banking Exchange

APRIL 13, 2020

Banks will need to process approximately 50 times their normal annual volume in the next 30-60 days under the Paycheck Protection Program Retail Banking Risk Management Compliance Fair Lending Feature3 Fintech Feature Outsourcing/Cloud.

New York 78

New York Risk Management Compliance Lending 78