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South Dakota Regulator Requires BSA/AML Compliance for Money Lender Licensees and Non-Residential Mortgage Lenders

CFPB Monitor

The South Dakota Division of Banking issued a Memorandum notifying all licensed money lenders and non-residential mortgage lenders of their Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) obligations under a 2020 Final Rule published by the Financial Crimes Enforcement Network (“FinCEN”).

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What Wayfair’s Lawyer Says About The Wayfair v. South Dakota Decision

PYMNTS

The 2018 South Dakota v. A recent effort is underway to make compliance more streamlined for businesses that interact with the more than 100 local tax jurisdictions, and to make tax administration easier for those municipalities as well. Lawyer George Isaacson argued Wayfair’s side in the historic 2018 South Dakota v.

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Report: The Risky Business Of Navigating Online Sales Tax For Merchants

PYMNTS

This creates an ever-shifting sales tax landscape in which merchants and their marketplaces must stay on their toes and be ready to adjust to each new compliance change. Even SMBs in states that do offer tax exemptions may still face new compliance requirements, such as obligations to notify and report sales to residents.

Taxes 133
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How Merchants Navigate Tax Collection Complexity With Technology  

PYMNTS

eCommerce firms are navigating a tax collection environment that increasingly requires technology and automation to ensure compliance. 2018: The year of the Supreme Court decision in the South Dakota vs. Wayfair case. All this, Today in Data. Data: 8,000: Square footage of The North Face’s recently opened store in Soho.

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The Economic Case For Remote Sales Tax Uniformity

PYMNTS

George Isaacson has been watching the results of South Dakota v. The cost of the new taxes does not seem to be weighing businesses down, but the pain of compliance certainly is, he said. . As a result, businesses will not only have to sort through new compliance questions when filing sales taxes. .

Taxes 132
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OCC targets BSA/AML compliance by Anchorage Digital Bank – only 15 months after granting bank charter to the crypto custodian

CFPB Monitor

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. Although the Consent Order in effect reiterates, point by point, the need to comply with the basics of any BSA/AML compliance plan (i.e.,

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How Online Sales Tax Impacts Different eCommerce Models

PYMNTS

That all changed last year with the Wayfair vs. South Dakota ruling that sought to level the playing field for brick-and-mortar stores. The latest Next-Gen Sales Tax Tracker explores the complexities and challenges of compliance for different business models. Navigating these laws is easier said than done.

Taxes 129