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Turning Compliance Burden Into FinTech-Regulator Collaboration

PYMNTS

Regulation is perhaps the strongest driver of Lithuania’s FinTech-friendly environment. But financial regulatory compliance can be a headache for any market. For traditional banks, compliance experts agree that it’s all about data — and the ability to share information with regulators.

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Merchants Get Clarity Around Compliance As Global Payment Regulations Evolve

PYMNTS

Compliance with financial regulations market-to-market around the globe is increasingly automated yet relies on the same human emotion that undergirds all forms of exchange: trust. Bank Regulation Ekata News Open Banking payments PYMNTS Study regulations Security

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Compliance will kill the bank

Chris Skinner

He’s not worried about Amazon, Google or Alibaba; he’s not concerned about FinTech start-ups, Revolut or Monzo; he doesn’t really care about Open Banking and software; as for machine learning, artificial intelligence (AI) and … The post Compliance will kill the bank appeared first on Chris Skinner's blog. Grid RegulationI was talking with a banker at a recent conference, and was surprised by his attitude.

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DevSecOps Best Practices ? Automated Compliance

Perficient

Secure software practices are at the heart of all system development; doubly so for highly regulated industries such as health-care providers. Cloud Development Integration & IT Modernization Operations Automation compliance security

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Regulators willing to break up repeat-offender banks, acting comptroller says

American Banker

Regulation and compliance

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Compliance and Collections: Adhering to the FDCPA and Regulation F

SWBC's LenderHub

A new federal debt collection rule enacted under the Fair Debt Collection Practices Act (FDCPA), Regulation F , went into effect in November 2021. Regulations & Compliance

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Compliance changes to watch in 2023

Independent Banker

The FDIC issued guidance about the consumer compliance risks associated with assessing NSF arising from the re-presentment of the same unpaid transaction. Compliance General PortfolioIllustration by Monster Ztudio/Adobe.

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Merchants Solving For Data Compliance

PYMNTS

The PYMNTS Merchants Guide To Navigating Global Payments Regulations, done in collaboration with Ekata , examines rapidly changing developments in digital payments at a time when cybercrime — and identity scams particularly — are going hard on legitimate businesses.

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How to automate … Regulation E compliance

BankInovation

Regulation E compliance: The Federal Reserve Board’s Regulation E outlines the rights, liabilities and responsibilities for electronic fund transfer (EFT) participants. Oconee State Bank recently automated its Regulation […].

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10 NBFI AML Compliance Essentials

Abrigo

What NBFIs Should Know About Their AML Programs NBFI AML compliance requirements are top of mind in today's regulatory environment. Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. BSA Rules and Regulation.

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Trending: How EU Regulators Are Complicating SCA Compliance

PYMNTS

Merchants in the European Union (EU) are still wondering exactly what changes the regulation will bring when it comes to their relationships with customers. Merchants and PSPs are far from the only ones with lingering questions on SCA’s application — regulators in EU countries are trying on to integrate the rule into their national payment processes. Regulators in many EU countries have their own thoughts on SCA and how long it will take merchants to prepare.

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5 Startups Rebooting Regulation

Bank Innovation

The rise of insurtech is running parallel to the rise of regtech, as financial firms and startups apply artificial intelligence, blockchain, and other technologies to the dizzying world of financial regulation. Changing the face of regulation for a fresher, more transparent take isn’t exactly easy–as the OCC is finding out–but we […]. Fintech has another cousin.

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Brad M. Bolton: Compliance as a focal point

Independent Banker

In today’s intense regulatory landscape, compliance extends to every aspect of banking, so much so that no one person or team can be solely charged with managing a bank’s compliance requirements. We’re looking at the need for a full culture of compliance. Photo by Chris Williams.

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Can regulators keep pace with fintech innovation?

American Banker

Regulation and compliance

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For Blockchain Adoption, FIs Have to Solve Compliance First

Bank Innovation

The next big thing in financial services won’t make it very far off the ground if FIs don’t innovate with an eye towards compliance. And blockchain innovation is no exception, Arshi Singh, head of North America product at international payments processor CurrencyCloud, told Bank Innovation: Regulatory landscape and compliance concerns are the main barriers to […].

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Innovation with compliance is difficult

Chris Skinner

The moderator first of all asked: Do you believe that the regulators are in the incumbent’s pockets and protect the industry from new competition? You may find it gratifying that most of … The post Innovation with compliance is difficult appeared first on Chris Skinner's blog. Grid Innovation Regulation UncategorizedI’ve been at a few conferences this week, and was amused by an audience poll at one event.

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Fed's Cook says new regulations might not be needed to protect banks from crypto

American Banker

Cryptocurrency Regulation and compliance

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Key Components of a Strong Sanctions Compliance Program

Abrigo

Create an effective sanctions program Considering the current economic and political environment, it is crucial that financial institutions maintain a strong sanctions compliance program (SCP). Takeaway 1 OFAC has issued new guidance on the essential components of a strong compliance program.

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Big Tech Compliance Tracker: EU Prepares To Propose New Big Tech Regulations; Turkey Fines Big Tech Platforms $1.18M

PYMNTS

Regulation. EU Gears Up To Propose New Big Tech Regulations. Australian Regulator Looks Into Merger Law Changes. The regulation enables authorities in Turkey to take content off of platforms instead of restricting access as they had done previously.

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Cheat sheet: How regulators want to rein in stablecoins

American Banker

Regulation and compliance Cryptocurrencies

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Powell: Stablecoin regulation belongs to the Fed

American Banker

Cryptocurrency Regulation and compliance Politics and policy

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Yellen to call for ‘comprehensive’ crypto regulations

American Banker

Regulation and compliance Cryptocurrencies

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5 Best Practices for Adhering to UDAAP Regulations

SWBC's LenderHub

Are you 100% sure that your employees have the necessary compliance and regulatory training in order to mitigate the risk of fines and to protect your financial institution and its borrowers? Regulations & Compliance

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Custodia cries foul over regulators giving BNY Mellon green light for crypto

American Banker

Cryptocurrency Regulation and compliance Politics and policy

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Bank regulators need to overhaul their digital capacity

American Banker

Regulation and compliance Cryptocurrencies

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How Nearshore Software Development Can Still Work in Highly Regulated Industries

Perficient

However, companies within certain industries may be more hesitant to incorporate a nearshore delivery model into their software development projects due to federal regulations around information and data security. based companies in a variety of regulated industries.

Industry 406
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Regulators tell banks to expect extra scrutiny on crypto exposures

American Banker

Cryptocurrency Regulation and compliance

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Big Tech Compliance Tracker: Apple To Pay $113M Over Alleged iPhone 'Throttling'; Officials: European Commission Needs To ‘Scale Up’ Regulation

PYMNTS

Here’s the latest news from the technology industry, which is coming under increasing scrutiny from regulators around the world. EU Auditors: European Commission Needs To ‘Scale Up’ Regulation. New Digital Regulations Could Let EU Ban Tech Firms.

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Regulations, Regulators And The High Cost Of Banking Compliance

PYMNTS

And the regulations just keep coming. In the banking industry, the mindset among compliance staff seems to be one where the expectation is to have a new rule governing new rules that govern new rules. As noted in The Wall Street Journal Tuesday , the fact remains that lenders are “awash in new regulations,” with swelling ranks of both interpreters and enforcers bringing “striking changes” to banks and their own internal day-to-day mindsets and operations.

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It's up to regulators to stamp out excessive overdraft fees

American Banker

Regulation and compliance Consumer banking

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Deep Dive: How Regulatory Compliance Tools Help Keep Remittances Flowing

PYMNTS

FIs that offer remittances must also comply with a variety of regulations intended to help ensure that terrorists and other criminals are unable to abuse the services to finance illicit operations and hide ill-gotten funds. The Cost of Compliance .

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Banks, Regulators Push for Mortgage Rule Changes

Banking Exchange

In separate initiatives, the ABA and CFPB are seeking to add to consumer protection measures related to mortgage lending Mortgage Credit Feature Mortgage Mortgage Compliance Mortgage/CRE Feature3 Compliance/Regulatory Duties 1Mortgage/CRE

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Regulation must keep pace with financial innovations, New York Fed chief says

American Banker

Federal Reserve Regulation and compliance Cryptocurrencies

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AML/KYC Compliance Just Got Harder

PYMNTS

10, with new regulations for cryptocurrencies, wallets and exchanges. If it seems like regulators are singling out crypto unfairly, consider the fact that 63 percent of cryptocurrency exchanges tested in Q3 2019 were found lacking in KYC security.

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Bank regulators to provide supervisory relief in wake of hurricanes

American Banker

CRA Regulation and compliance