CFPB Monitor

NOVEMBER 22, 2022

As previously reported in February 2019 federal regulators issued a joint final rule (the “Joint Final Rule”) to implement provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 (the “Act”) that require regulated financial institutions to accept private flood insurance policies.

Policies 148

Policies Meeting Exercises Regulation 148

PYMNTS

JANUARY 19, 2018

Fizzle of the Week: Cryptocurrency Regulation. The saga over bitcoin and its relationship to various regulators has become something of the payments answer to a romantic comedy. If crypto closes down in one place, users can take their anonymous accounts to more regulatory-friendly markets. Easy come, easy crypt-go, it seems.

Bitcoin 123

Bitcoin Regulation cryptocurrency Taxes 123

CFPB Monitor

DECEMBER 22, 2020

Section 29 of the Federal Deposit Insurance Act and FDIC regulations restrict the acceptance of deposits by IDIs that are less than well capitalized from a “deposit broker.” The term “deposit broker” is defined by Section 29 and the FDIC’s implementing regulations (12 C.F.R. Brokered Deposits. Primary Purpose Exception.

FDIC 78

FDIC Capital National Regulation 78

PYMNTS

MARCH 5, 2019

While small business lending has become a platform for some high-profile FinServ scandals in several markets, opponents of expanding borrower protection legislation to small businesses have argued that such regulations would actually hamper financial institutions’ ability to expand credit access for the small business community.

California 153

California Fintech Lending Regulation 153

Abrigo

MARCH 24, 2021

Anti-Money Laundering Act of 2020 BSA professionals should prepare for changes as new regulations and guidance from FinCEN unfold. Takeaway 2 While the AMLA is now law, regulations, guidance, and other information still needs to be written. These include conducting studies, writing regulations, and publishing guidance.

Regulation 195

Regulation Training Study Policies 195

BankBazaar

DECEMBER 12, 2023

Both Public Provident Fund (PPF) and National Pension Scheme (NPS) encourage you to save regularly and are backed by the government. While NPS is an investment that is linked to the market and is regulated by the Pension Fund Regulatory and Development Authority (PFRDA). This adaptability aligns with market fluctuations.

Taxes 78

Taxes National Marketing Regulation 78

PYMNTS

MARCH 16, 2017

We were surprised to see businesses actively selling into markets because they had a vehicle to receive payments there, and they were actively avoiding other markets because they didn’t know how to get paid there,” Moen said of Flywire’ s conversations with companies revealing their B2B payment pain points. Time For Change.

Marketing 109

Marketing Payments Compliance Innovation 109

PYMNTS

OCTOBER 20, 2019

David Marcus, CEO of Facebook’s wallet service Calibra , said that Libra could use national currency-pegged stablecoins like a dollar stablecoin, rather than the synthetic one it initially proposed, Reuters reported on Sunday (Oct. G-20 finance leaders on Friday (Oct. That is one of the options that should be considered.”.

cryptocurrency 100

cryptocurrency National Maine Regulation 100

CFPB Monitor

DECEMBER 6, 2022

We do not believe that, for example, swapping out merchant gift cards for another merchant’s gift cards would be a modification; however, eliminating airline ticket purchases from a travel card that marketed the use of points/miles for airline ticket purchases would likely be a modification. .

New York 78

New York Cards National Compliance 78

CFPB Monitor

MAY 18, 2022

After moving alone in 2020 to reform its Community Reinvestment Act (CRA) regulation, the Office of the Comptroller of the Currency (OCC) has joined the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve Board in issuing a joint notice of proposed rulemaking setting forth proposed amendments to their regulations implementing the CRA.

FDIC 78

FDIC Regulation Community Lending 78

PYMNTS

SEPTEMBER 20, 2018

The financial services (FinServ) market is, by far, ahead of other industries when it comes to blockchain innovation and adoption, according to data released this year by PricewaterhouseCoopers (PwC). The market is expected to secure 30 percent of those efforts between 2021 and 2023; at present, the U.S.

blockchain 188

blockchain Innovation Tools Survey 188

Abrigo

FEBRUARY 24, 2022

Takeaway 1 Interest rate risk for financial institutions is the risk that earnings and market value may decline as market interest rates change. . Defining interest rate risk A loose definition of interest rate risk is the risk that an institution’s earnings and market value may decline as market interest rates change. .

Management 195

Management Analysis Strategy Policies 195

PYMNTS

AUGUST 24, 2019

As new PYMNTS research documents, over the past year, 18 Major League Baseball (MLB), National Basketball Association (NBA), National Football League (NFL) and Major League Soccer (MLS) arenas have deployed biometric solutions by CLEAR. Attendance at NFL games declined from approximately 17.8 million people in 2016 to 17.2

Payments 161

Payments social media Mobile Seattle 161

Gonzobanker

MAY 4, 2022

Regulations – The practical application of regulations to specific situations at the institution requires deep “inside” knowledge. An institution’s required credit expertise will depend on its business/niches – for example, knowledge of national environmental lending will be unique from that of import/export letter of credit.

Training 154

Training Survey System Data 154

PYMNTS

OCTOBER 13, 2017

Foreign property buyers appear to have gotten that message, if research from the National Association of Realtors (NAR) is any indication. market for foreign investors. The nation, notably the areas of Toronto and Vancouver, is seeing a high influx of buyers purchasing properties due to the region’s low interest rates.

California 171

California National New Jersey Report 171

PYMNTS

OCTOBER 18, 2018

However, while China is undeniably the largest market for students studying abroad, India is coming up quickly for second place. At this time, there are about 500,000 students of Indian origin studying in 86 nation’s worldwide, though about 55 percent of them are in the U.S Currently, there are about 1.5 The Global Picture.

Payments 153

Payments Study National Marketing 153

PYMNTS

FEBRUARY 24, 2017

The bitcoin market cap was over $18.5 Louis, Missouri, the company’s first foray into the Midwestern market. We definitely have some company goals to explore outside the United States.”. On Thursday (Feb. 23) morning, bitcoin had broken $1,150 in value, reaching a high of $1,153.04. percent over Wednesday’s close.

Bitcoin 194

Bitcoin St. Louis Las Vegas cryptocurrency 194

CFPB Monitor

SEPTEMBER 23, 2022

With refinances, the CFPB is focusing on whether it can take steps to facilitate beneficial refinances to take advantage of market rate decreases. The CFPB states that a one-way ARM could provide for automatic interest rate decreases when market rates decrease, but would not provide for rate increases. Refinances.

Marketing 148

Marketing Examples Payments Regulation 148

BankBazaar

NOVEMBER 18, 2022

However, the impact of higher interest rates in the past year has impacted the cryptocurrency market, leading to a significant sell-off. Most of these cryptocurrencies run on a decentralised platform that lacks regulation and investor protection policies. appeared first on BankBazaar - The Definitive Word on Personal Finance.

cryptocurrency 78

cryptocurrency Policies Retail Regulation 78

PYMNTS

MARCH 29, 2016

First, EBA declared, continual monitoring of the SME SF and its impact on the market will be key. Third, EBA recommends that regulators address the amount owed limit criterion under the SME SF; finally, EBA suggests that authorities agree upon a consistent definition of “SME” when applying the Supporting Factor.

Lending 100

Lending Capital Report Regulation 100

PYMNTS

JANUARY 31, 2018

The case has become an unusual confluence meetup of varied interests tied to how American Express conducts its business and how consumers and merchants interact with credit card companies … and all manner of companies across all manner of two-sided market verticals. Last month, retail associations filed a joint amicus brief in the case.

Cards 102

Cards Marketing National Retail 102

CFPB Monitor

SEPTEMBER 24, 2019

In Madden , the Second Circuit ruled that a purchaser of charged-off debts from a national bank was not entitled to the benefits of the preemption of state usury laws under Section 85 of the National Bank Act (NBA).

Colorado 60

Colorado National Policies Lending 60

CFPB Monitor

OCTOBER 4, 2018

Thus, prior to the amendment, many “passive debt buyers” operated under the presumption that the WCAA did not require them to be licensed – an interpretation adopted by the Washington Collection Agency Board, which regulates collection agencies within the state.

Washington 84

Washington Operations Regulation National 84

PYMNTS

MAY 5, 2017

But Michael Ting, SVP, Digital Markets at Hyperwallet , explored with PYMNTS’ Karen Webster the evolving identity of the on-demand workforce, and how technology contributes to that change. With the gig workforce continuing to grow and evolve, the definition of a “gig worker” is also in flux, Ting noted.

Online 119

Online Meeting Technology Taxes 119

PYMNTS

DECEMBER 6, 2017

We are definitely seeing more innovation in the cross-border B2B space in the last two years than we have ever before,” he recently told PYMNTS. “We That includes the ability of faster payments initiatives to address corporate, cross-border transactions in addition to consumer, national transactions, he said.

Payments 183

Payments blockchain Innovation Fintech 183

PYMNTS

FEBRUARY 8, 2018

percent of domestic and cross-border payments in December 2017, SWIFT found, with the company’s Head of Payments Markets, Asia-Pacific, Michael Moon noting, “Experts suggest that capital controls and uncertainties over future regulations mean that a significant reversal of the decline in RMB usage for trade and payments is unlikely in 2018.”.

Innovation 111

Innovation Payments blockchain Analysis 111

Independent Banker

OCTOBER 1, 2022

Community bank customers can be at ease knowing that community banks take the protection of their customers’ data very seriously, and community banks are regulated by some of the strictest data privacy laws of any sector,” Estep says. CCPA was modeled closely after the European Union’s General Data Protection Regulation (GDPR).

Data 91

Data How To Community Bank California 91

PYMNTS

SEPTEMBER 17, 2019

By definition, a pawnbroker offers loans on items that are not accepted as collateral by traditional banks or lenders. Interest rates on pawn loans vary as they are regulated by states. Policymakers may have simply shifted operating firms from one industry to another, having no real effect on market conduct,” Ramirez writes.

Ohio 151

Ohio Lending Iowa South Dakota 151

Lars Markull

JANUARY 20, 2019

The Indian regulator requires WhatsApp to process the payment data purely on Indian servers but it is currently being processed on Facebook servers in the US. WhatsApp is in discussion with the regulators to find a solution. However, the service is not yet available nationwide, due to regulatory problems.

Payments 40

Payments Google Mobile Regulation 40

BankUnderground

AUGUST 9, 2022

While there is no set definition of the metaverse, it can be thought of as an immersive next generation of the internet, where people can interact to socialise, learn, play and work in a persistent computer-generated environment. What is the metaverse?

System 129

System blockchain cryptocurrency Lending 129

PYMNTS

MAY 11, 2020

But as restaurants have struggled in the midst of the global health crisis and have been forced to shut down their dining rooms by social distancing regulations, they’ve complained of feeling less than helped by delivery aggregators that often can charge commission fees as high as 30 percent. And in some cases, feeling litigious.

San Francisco 161

San Francisco New York City Survey Seattle 161

PYMNTS

MAY 10, 2016

This particular market, researchers found, sees more than $240 million in losses every year. We were definitely concerned by the scale of the problem,” the executive said, adding that the financial losses reported by these companies in the survey are “staggering.”. Invoice fraud is definitely a global problem. Who’s To Blame?

Fraud 100

Fraud Compliance Security Industry 100

CFPB Monitor

JANUARY 19, 2021

SB 1792 also contains a broad definition of the term “lender” and will apply to loans made via a bank partnership model. The legislation provides for a fine of up to $10,000 for each violation. Commercial loans are excluded, but “commercial loan” is not defined.

Illinois 60

Illinois Retail Operations Lending 60

PYMNTS

APRIL 30, 2018

During the exchange, lawmakers raised the specter of regulating Facebook — which boasts more than 2.2 similar regulations are already being put to the test in other regions around the world. Each EU member nation has a DPA in place to both monitor compliance and respond to potential violation complaints.

Data 119

Data Compliance social media Regulation 119

PYMNTS

SEPTEMBER 22, 2017

Across the pond, estimates Innovate Finance and Pitchbook, the B2B FinTech market has gotten nearly half of all FinTech funding in the European Union through the past year. You’ve got rising market power,” said Marshall Steinbaum, an economist at the Roosevelt Institute, a liberal think tank. “In So, what gives?

US 108

US Apple Innovation Regulation 108

PYMNTS

NOVEMBER 13, 2018

Digital identity in the last few years has gotten a major boost — as of 2018, 60 nations worldwide have embraced some version of a digital identity scheme. Anderson agreed that if digital identity is viewed as a ground-up construction project that is mainly the work of governments, we are definitely talking about taking a very long walk.

Data 183

Data Course Massachusetts Security 183

PYMNTS

NOVEMBER 1, 2017

Unsurprisingly, companies are looking to capitalize on that growing market. DraftKings ’ chief international officer, Jeffrey Haas, recently spoke with PYMNTS about the challenges involved in introducing fantasy sports to new markets, and which sports generate the most interest in different global regions. million in 2014 to 59.3

Payments 102

Payments Regional America Marketing 102