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

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. The startup is fully compliant in all 13 cities it operates in, he said. “We It is also on the verge of opening its first location in America’s biggest city, New York.

Compliance 109

Compliance Innovation New York San Francisco 109

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

PYMNTS

MARCH 9, 2020

Banks on Wall Street are talking to regulators about waiving rules regarding brokers working remotely while the coronavirus makes its way through New York, according to a report by Reuters. New York Gov. A rule change would allow the thousands of daily traders to work from home.

New York 154

New York Regulation Meeting Industry 154

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

Perficient

MAY 27, 2022

As the center of the American financial landscape, it is probably not surprising that New York was the first state to implement regulations specifically designed to cover cryptocurrency activity. For instance, Coinbase can only offer about half the coins available on its platform to New York customers. State Regulations.

cryptocurrency 332

cryptocurrency Regulation Management Bitcoin 332

American Banker

OCTOBER 18, 2021

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New York 100

New York Operations cryptocurrency Compliance 100

PYMNTS

JANUARY 13, 2019

A talent war in New York is heating up with Amazon opening up its second headquarters in the city and Google expanding its presence. According to a report in CNBC , with unemployment at record lows, demand for tech talent and support services — including advertising, FinTech, accounting, and compliance — is booming.

New York City 134

New York City New York Google Marketing 134

CFPB Monitor

AUGUST 12, 2022

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) released Draft Amendments to its Cyber Security Regulations. The Amendments, if adopted, would further regulatory trends and impose important new requirements on covered entities. The Amendments contain three significant changes relating to ransomware.

Regulation 147

Regulation Cyber Security New York Trends 147

Perficient

AUGUST 16, 2023

Heartland Tri-State began operations in 1985 under the name First National Bank of Elkhart. Mr. Herndon named the Federal Deposit Insurance Corporation (“FDIC”) as receiver, allowing the FDIC to take control of the Heartland Tri-State’s operations. billion in deposits), the failure still poses lessons for bank executives.

United States 221

United States Kansas FDIC Risk Management 221

PYMNTS

JULY 12, 2018

New York’s Department of Financial Services is recommending that online lenders are subjected to the same scrutiny and regulations that traditional banks face. Cuomo on June 1, 2017, required DFS to study online lending in New York State and submit a report of its findings. A bill signed by Governor Andrew M.

Online 100

Online New York Lending Regulation 100

CFPB Monitor

NOVEMBER 9, 2022

On November 9, 2022, New York Department of Financial Services (NYDFS) Superintendent Adrienne Harris announced that the NYDFS formally proposed an updated cybersecurity regulation. The proposed regulations would create three different tiers of companies based on their size, operations, and nature of their businesses.

Regulation 78

Regulation Compliance New York Training 78

FICO

NOVEMBER 1, 2016

Some policy leaders, like those in New York, are not deferring to the federal government to take the lead. On September 13, the New York Department of Financial Services (NYDFS) proposed first-of-its-kind cybersecurity rules covering a wide range of banks, insurers and financial services companies under its jurisdiction.

New York 40

New York Regulation Policies National 40

PYMNTS

JANUARY 28, 2019

As noted in this space by Karen Webster, the ban on the ban – where, now, in New York, surcharges are allowed when merchants post total prices for transactions – shows the inefficiencies of regulation that supersede card networks’ own rules governing merchant activities. In New York this month, credit card surcharges got the okay.

Cards 125

Cards New York Oklahoma Connecticut 125

Independent Banker

APRIL 30, 2022

But with so much emphasis placed on customer-facing products and technologies, innovating back-office operations can fall to the bottom of the priority list. We believe operations is the “engine” that drives every aspect of banking and, ultimately, the bottom line. Unbundle your end-to-end operations and conduct a SWOT analysis.

Innovation 91

Innovation Community Bank New York City Community 91

PYMNTS

APRIL 10, 2019

The New York Department of Financial Services has denied a virtual currency license for Bittrex, an American digital asset exchange. Bittrex was ordered to stop operating in New York and close shop within 60 days. Bittrex was ordered to stop operating in New York and close shop within 60 days.

Bitcoin 116

Bitcoin New York cryptocurrency United States 116

PYMNTS

JULY 2, 2020

Payroll card provider Global Cash Card has reportedly lost its legal battle against the New York Department of Labor, which had imposed regulations on payroll card companies in an effort to protect employees against unfair fees. ADP Eyes Payroll Card Adoption Jump. ScaleFactor’s Card Offering Nixed.

Cards 208

Cards New York Capital Compliance 208

PYMNTS

SEPTEMBER 27, 2019

Wells Fargo, the scandal-plagued bank that has been searching for a new chief executive, announced on Friday (Sept. 27) that Bank of New York Mellon CEO and Chairman Charles W. Scharf has agreed to take on the job effective Oct. 21, CNBC reported. The fourth-largest bank in the U.S.,

New York 128

New York Leadership Compliance Capital 128

PYMNTS

MAY 1, 2020

The New York-based MRC was founded by Congress in the 1960s to verify that media companies are getting what they pay for when it comes to advertising. At the time, Chief Operating Officer Sheryl Sandberg pledged to “get it right,” and agreed to provide the MRC with the data and access needed to evaluate its compliance.

social media 233

social media Video New York California 233

Abrigo

APRIL 6, 2022

Now, financial institutions and their service providers must also meet new obligations for reporting on computer-security incidents when they occur. 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.

Security 195

Security Regulation District of Columbia United States 195

PYMNTS

DECEMBER 23, 2019

” As a regulatory initiative aimed at combatting financial crime, KYC requirements are growing ever-more complex, leading corporates and their banks to demand new technologies and services that can address their compliance challenges. .” About $2 million in fraudulent invoices were reportedly sent to the U.S.

Fraud 131

Fraud Maryland Payments New York 131

PYMNTS

FEBRUARY 21, 2018

Montroll operated an unregistered online securities exchange and defrauded its users by misappropriating their bitcoins. We allege that BitFunder operated unlawfully as an unregistered securities exchange,” Marc Berger, director of the SEC’s New York regional office, said in the release.

Fraud 102

Fraud Bitcoin New York Regional 102

PYMNTS

APRIL 24, 2019

Regulators want to have a greater stake in the way sharing platforms operate. In the April edition of the Payments And The Platform Economy Playbook , PYMNTS examines how regulatory compliance changes are impacting the growth of the sharing economy. Around the Payments and the Platform Economy.

Marketing 179

Marketing Regulation Case Study Security 179

PYMNTS

JULY 29, 2019

A consumer association in Germany said the plugin allowed the social media company to collect data on the site’s users, the news outlet said. According to the judgment published by the CJEU , websites are responsible for “operations involving the collection and disclosure by transmission to Facebook.” Ethyca raised $4.2

Data 122

Data Company social media Compliance 122

PYMNTS

SEPTEMBER 18, 2018

In addition, the “digital sandbox” will, in part, focus on regulatory compliance and — as is typical of such testing environments — allow an operating license to be granted in the wake of a proven business model. While In New York, New York…. Announcements came Monday (Sept. Open Banking, APIs In The UK.

Fintech 166

Fintech New York US National 166

Bank Innovation

MAY 16, 2017

Last year, regulators in New York decided to take cybersecurity matters for financial institutions into their own hands, releasing a set of rules (which went into effect in March), requiring banks and other FIs to establish a stricter cybersecurity program.

Regulation 325

Regulation New York Data Report 325

PYMNTS

SEPTEMBER 9, 2019

His job will include fostering existing relationships that are essential to those directives and improving the organization’s commercial performance through its products, like SWIFT’s global payments innovation (gpi) and its suite of financial crime compliance solutions. Watson started his position in New York on Monday (Sept.

Management 179

Management America New York Regional 179

Abrigo

JUNE 10, 2020

The former Chief Operational Risk Officer was fined for insufficient action on AML program deficiencies and staffing issues. Abrigo Compliance & Engagement Director Terri Luttrell, CAMS-Audit, says that fines against individual BSA professionals are rare. Attorney’s Office for the Southern District of New York.

Resources 195

Resources Regulation Compliance Policies 195

Bank Innovation

JANUARY 18, 2017

Digital currency exchange Coinbase obtained a BitLicense from the New York Department of Financial Services, a grant that officially authorizes the exchange to operate (that is, to receive and transmit money and virtual currency) within the Empire State.

New York 150

New York Operations Bitcoin Compliance 150

PYMNTS

APRIL 29, 2019

We appreciate the government’s recognition of the significant changes we have made, our ongoing commitment to legal and regulatory compliance, and our significant cooperation in the investigations,” said Svindland, according to The Wall Street Journal. In addition, Celadon also agreed to a $7.5

Fraud 108

Fraud Indianapolis New York Operations 108

PopularBank

JUNE 10, 2021

New York, NY – June 9, 2021 – Popular Bank, a subsidiary of Popular, Inc. We greatly appreciate BauerFinancial’s five-star rating,” said Manuel Chinea, Chief Operating Officer, Popular Bank. Premier Rating Firm BauerFinancial Recognizes Popular Bank as a Superior Financial Institution with Five-Star Rating. About Popular Bank.

New Jersey 98

New Jersey New York Florida Community 98

PYMNTS

DECEMBER 27, 2019

Or maybe a relatively bland extended-stay operation right off the interstate. To learn more about the trend, PYMNTS recently caught up with Kulveer Taggar, co-founder and CEO of Zeus , a digital and mobile-focused operation that puts business travelers into furnished housing that Zeus rents from owners.

Los Angeles 139

Los Angeles San Francisco New York City Trends 139

PYMNTS

JUNE 27, 2018

Digital money platform Uphold announced that it has reached an agreement to acquire New York Stock Exchange member JNK Securities Corp. If the deal is finalized, Uphold’s compliance footprint will be expanded, as well as its customer base and service offering.

Security 108

Security Los Angeles San Francisco Compliance 108

PYMNTS

JANUARY 7, 2020

China’s Guangdong province has launched a blockchain financing platform for small and medium-sized businesses, backed by OneConnect , a Chinese FinTech recently listed on the New York Stock Exchange, according to a press release. . ” TaxBit will use the funding to speed up customer growth, and make its products better. .

Bitcoin 132

Bitcoin blockchain Taxes Austin 132

Bank Innovation

JUNE 27, 2018

PREMIUM - If you walk into HSBC's flagship New York branch, the chances that you will be greeted by a robot are pretty high. The bank's innovation team, which unveiled its SoftBank Robotics-run robot Pepper yesterday, hopes that this will draw more traffic into the branch, and thus increase business.

Video 207

Video New York Innovation social media 207

South State Correspondent

JANUARY 4, 2023

In addition, they may consider focusing on these five critical areas: Improve Operating Leverage. It will likely always be on your New Year’s resolution list; it is just a question of where. To improve the quality of their earnings, banks need their number one focus to be on making their operations more efficient.

Community Bank 195

Community Bank Capital Training Lending 195