PYMNTS

SEPTEMBER 17, 2019

FinTech firms are keeping a pulse on the latest regulations and helping their clients comply with them. The European Union’s General Data Protection Regulation (GDPR), for instance, went into effect last May, and penalties are just starting to be enforced. To help clients, the FinTech uses Kubernetes, so it is cloud agonistic.

Fintech 200

Fintech Compliance Data Regulation 200

PYMNTS

SEPTEMBER 6, 2018

Compliance and risk? Automating that compliance is now a “need to have.”. Compliance and risk officers have the unenviable task of finding out, sometimes after the fact, that not all the boxes are checked — if they even knew the boxes were there for checking in the first place.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

CFPB Monitor

MAY 11, 2020

On May 6, 2020, the CFPB issued an ECOA/Regulation B “Compliance Aid” containing three FAQs that clarify certain issues related to notification of action taken on Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”) loan applications.

Compliance 78

Compliance Regulation Data Security 78

Abrigo

JULY 13, 2023

Avoid fraud losses from pig butchering scams FinCrime professionals looking to prevent pig butchering scams in the age of cryptocurrency can follow these steps to tighten security. Would you like other articles like this in your inbox? Takeaway 1 Investment fraud schemes known as pig butchering scams contributed to $3.3

Fraud 195

Fraud cryptocurrency Training social media 195

PYMNTS

MARCH 24, 2017

Compliance is also becoming an enterprise-wide endeavor, and compliance officers must adopt a global mindset. When asked as to what the three things that are most urgently in need of attention when it comes to compliance and fraud, Gurz said that “one is balancing efficiencies versus risk.

Compliance 157

Compliance Fraud Regional Examples 157

CFPB Monitor

JUNE 30, 2022

Of special note, the OCC also believes compliance risk is “heightened” for Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) compliance because of world events and compliance staffing concerns. BSA/AML Compliance Risks. Cybersecurity Risks.

Compliance 78

Compliance Fraud Technology Operations 78

PYMNTS

OCTOBER 13, 2016

Regulation and compliance can be a tough space for many to wrap their heads around. As technology advances, the threat to digital security and identity protection becomes greater, forcing regulations to quickly adapt. Compliance Decoded. Why Compliance Is Going Social.

Compliance 100

Compliance blockchain Regulation Data 100

CFPB Monitor

DECEMBER 9, 2021

The CFPB has issued a final rule amending Regulation Z to address the discontinuation of the London Inter-Bank Offered Rate (LIBOR) that is currently used by many creditors as the index for calculating the interest rate on credit cards and other variable-rate consumer credit products. Change in index. Dollar LIBOR indices. (The

Regulation 78

Regulation Cards Compliance Groups 78

CFPB Monitor

JULY 25, 2022

The Federal Reserve Board issued a proposa l last week that would establish default rules for benchmark replacements in certain contracts that use as a reference rate the London Interbank Offered Rate (LIBOR), which will be discontinued in 2023. The proposal implements the Adjustable Interest Rate (LIBOR) Act, which was enacted in March 2022.

Regulation 78

Regulation Cards Compliance Examples 78

CFPB Monitor

JUNE 14, 2021

The new law became effective immediately upon signing notwithstanding the authority it gives the Illinois Department of Financial and Professional Regulation (“IDFPR”) to adopt rules “consistent with [the] Act.”. Proposed Regulations. The IDFPR has proposed regulations to implement the Act.

Illinois 78

Illinois Regulation Report Lending 78

PYMNTS

JANUARY 29, 2020

The company’s articles of incorporation reference “the digital nature of the shares (tokens) and the use of the blockchain as the technology to keep the shareholders registry.”. The prospectus said that the company is offering 8,399,000 “common equity share security tokens” on the ethereum blockchain. 29) by Coindesk.

blockchain 133

blockchain Groups cryptocurrency Bitcoin 133

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. “It The first is the rise of mobile gaming and gambling.

Compliance 163

Compliance Las Vegas Mobile Data 163

PYMNTS

MARCH 18, 2019

Authenticating.com is working to combat identity fraud by combining different solutions to securely automate and outsource identity verification and fraud prevention as a service. Personally identifiable consumer information is encrypted end-to-end, then anonymized, de-personalized and bifurcated to ensure that the data is secure.

Fraud 108

Fraud Knowledge Base Regulation Data 108

CFPB Monitor

OCTOBER 21, 2020

The CFPB recently issued a final rule that amends the Regulation Z ability to repay/qualified mortgage rule by extending the sunset date for the qualified mortgage (QM) based on a loan meeting certain product requirements and being eligible for sale to Fannie Mae or Freddie Mac. The QM often is referred to as the “GSE Patch.”

Compliance 97

Compliance Regulation System Analysis 97

PYMNTS

JANUARY 25, 2019

The Irish Data Protection Commissioner (DPC) is Twitter’s lead regulator in the European Union. This inquiry will examine a discreet issue relating to Twitter’s compliance with Article 33 of the GDPR.”. On Friday (Jan.

Data 190

Data social media Compliance Survey 190

PYMNTS

FEBRUARY 14, 2018

In reference to corporate governance, Wells has two months to boost board oversight and compliance efforts. The move is unprecedented, as the Fed has never before placed limits on how large a company can get. Wells can still lend and take deposits.

Regulation 100

Regulation Conference Compliance Lending 100

PYMNTS

JANUARY 8, 2020

Call it, perhaps, a New Year’s Resolution list — for regulators. 8), the Securities and Exchange Commission ’s (SEC’s) Office of Compliance and Examinations (OCIE) offered up a list of its priorities for the year that has just dawned. In documents released Tuesday (Jan.

blockchain 138

blockchain Phoenix Compliance cryptocurrency 138

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

FEBRUARY 18, 2019

Indeed, what will drive crypto adoption, Chell told PYMNTS, is in the technology’s ability to reduce payments friction, and integrate compliance and security. However, the company first rolled onto the scene as a partner of GunBroker , allowing the firearms retailer to offer its own digital coin as a more secure form of payment.

cryptocurrency 175

cryptocurrency Payments blockchain Compliance 175

PYMNTS

DECEMBER 17, 2018

It’s been six months since the General Data Protection became law of the land, at least in the European Union, and yet the majority of companies that must be in compliance with that mandate are woefully unprepared. May 25 should have been the wakeup call, but it’s not too late to begin your compliance journey. The time is now.”.

Report 167

Report Fraud Compliance Apple 167

Abrigo

AUGUST 8, 2021

Independent Loan Review Systems in Banking Banking regulators have outlined expectations for effective, independent loan review and credit risk review. . The change reflects regulators’ expectations that financial institutions will develop loan review or credit review systems tailored to their specific risks and circumstances.

System 195

System Lending Policies Regulation 195

PYMNTS

JULY 30, 2018

A bit more than two months in, GDPR (shorthand for General Data Protection Regulation) is having an impact. There was Facebook, of course, where commentary during second-quarter earnings conference calls with analysts showed that as a result of the new regulations, the firm lost about one million monthly active users in Europe.

Regulation 100

Regulation Comparison Compliance Conference 100

PYMNTS

JUNE 15, 2018

In reference to the partnership’s advantages, the firms said, is the elimination of manual data entry and accounting. In the Middle East , RAK Bank has said it will offer Sage accounting software to business banking customers, in an agreement that helps those firms manage value-added tax (VAT) compliance mandates.

Fintech 115

Fintech Compliance Software Taxes 115

PYMNTS

SEPTEMBER 16, 2019

The first refers to KBA methods like passwords or PINs, but the latter two categories are where merchants and payment providers will need to get creative. Possession can refer to the chip inside of a physical debit card, for example, while inherence refers to things that are even more personal — such as fingerprints.

Technology 116

Technology Customer Experience Cards Regulation 116

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

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. Regulatory scrutiny became ever-present, knowing that the security of their homeland was at stake.

Training 195

Training Risk Management Pennsylvania Resources 195

CFPB Monitor

OCTOBER 27, 2022

GAP insurance generally refers to third party insurance purchased by a consumer in a separate transaction from the actual vehicle purchase, typically as added coverage to their auto insurance. 10 USC § 987(i)(6).

California 148

California Security Regulation United States 148

CB Insights

OCTOBER 29, 2020

Capital markets infrastructure powers the trade of stocks, bonds, and other securities, handling $3000T+ in transactions each year. Currently, complex processes are needed to ensure regulatory compliance and enable secure, trustworthy trades. Some players in this space also look to facilitate fundraising via tokenized assets.

Capital 101

Capital blockchain Marketing Company 101

PYMNTS

JUNE 11, 2018

Change across the regulatory compliance landscape is de rigueur, and global in scope. In one of the latest salvos , know your customer, or KYC, efforts are being championed by the Asia Securities Industry and Financial Markets Association ( ASIFMA ). Closer to home, in the U.S.,

Regulation 100

Regulation Community Bank Lending Industry 100

Abrigo

JUNE 5, 2023

In addition, even before the recent banking troubles, regulators have emphasized the financial institution’s responsibility to provide leaders with information on key areas of planning, operations, and risk management. Regulators review them to assess safety and soundness.

Report 195

Report Risk Management Capital Data 195

PYMNTS

MARCH 23, 2020

Refer back to the first sentence to see why this starts to get painfully complicated, and quickly too. There are also legal matters of compliance, and customer experience is increasingly seen as an important part of the overall offering. But it all hinges on reliable data.

Fraud 130

Fraud Customer Experience Resources Compliance 130

CFPB Monitor

OCTOBER 31, 2022

The CFPB has taken a significant step towards issuing regulations to implement Section 1033 of the Dodd-Frank Act by releasing an outline of the proposals it is considering in preparation for convening a small business review panel (Panel).

Data 78

Data Compliance Regulation Policies 78

Insights on Business

APRIL 30, 2018

The countdown clock to GDPR – the General Data Protection Regulation of the European Union (EU) – is being closely followed by business leaders in Europe and around the world as it moves towards its May 25, 2018 deadline. In a recent IBM Algo FIRST newsletter, we looked at ramifications for financial services firms of non-compliance to GDPR.

Regulation 105

Regulation Compliance Data Examples 105

CFPB Monitor

AUGUST 31, 2021

Banks are instructed to reference relevant guidance from the agencies that is listed in a footnote. Legal and regulatory compliance. Information security program and information systems. Financial condition and competitive market environment and client base. Risk management policies, processes, and controls.

Community Bank 78

Community Bank Community Fintech Company 78

Abrigo

JULY 12, 2021

While many of these extremists (also referred to as extreme right-wing (ERW) terrorism) are loan wolves, it is understood that there are also small to medium sized organizations, some transnational. One important step toward further global compliance for the U.S. BSA Rules and Regulation. While the U.S. Learn more. BSA Training.

Training 195

Training Policies United States Report 195

Abrigo

NOVEMBER 3, 2021

At times, the initial rush to work from home led to a lack of increased security by financial institutions. The ransomware advisory is interesting and references the increasing sophistication. BSA Rules and Regulation. The AMLA and a Culture of Compliance – More Critical Than Ever. Financial Cybersecurity.

Fraud 195

Fraud Video Training Bitcoin 195

CFPB Monitor

MAY 4, 2022

Last Friday, the Connecticut legislature passed, by large margins, Senate Bill 6 — which we are referring to as the Connecticut Data Privacy Act (CTDPA). Data Minimization and Security. Connecticut is the next in a growing list of states to pass comprehensive data privacy legislation. The law now awaits the Governor’s signature.

Connecticut 148

Connecticut Utah Colorado California 148