PYMNTS

DECEMBER 23, 2020

The road to mainstream acceptance of cryptocurrencies will still have its bumps, its potential roadblocks set in place from regulators. At the heart of it all might lie a jousting existential in nature — namely, between the companies that create and issue cryptos and the agencies that regulate them.

cryptocurrency 234

cryptocurrency Security Bitcoin Regulation 234

BankBazaar

APRIL 11, 2024

India’s telecom regulator TRAI has unveiled new regulations aimed at introducing caller ID as a default service and preventing fraudulent SIM swap activities. It remains to be seen how these regulations will work with the upcoming Digital Personal Data Protection Act. Why the New Rules?

Regulation 60

Regulation Operations Mobile Security 60

PYMNTS

JULY 24, 2018

Turns out the debate over whether it is or isn’t a security is having a knock-on effect: It’s making the XRP token’s price less than … well, secure. Rumors that the token can and will be classified as a security here in the States. Rumors that the token can and will be classified as a security here in the States.

Security 101

Security California Bitcoin Taxes 101

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

BankBazaar

MAY 7, 2024

BankBazaar.com, India’s leading fintech co-branded Credit Card platform and online platform for free Credit Score, marks its third consecutive year of fast and sustainable growth, with an unaudited operating revenue of Rs.215 In a move to fuel its growth requirements, the company has secured over Rs.50 215 Crore in FY24.

Branding 78

Branding Cards Fintech Leadership 78

PYMNTS

JULY 2, 2020

WhatsApp will be allowed to operate its payments service in Brazil once the company formally seeks permission and shows it can operate in the country without putting customers’ data at risk or violating rules intended to preserve competition, the company’s chief central banker said Thursday, according to Reuters.

social media 232

social media Payments Operations Data 232

CFPB Monitor

SEPTEMBER 24, 2015

The CFPB has issued a final rule that revises the definitions of “small creditor” and “rural areas” under Regulation Z of the Truth in Lending Act (TILA). The CFPB created special small creditor provisions with regard to certain Regulation Z requirements. Wendy Tran and Richard J. Andreano, Jr. Census Bureau.

Operations 60

Operations Regulation Meeting Lending 60

CFPB Monitor

APRIL 28, 2022

As the number and frequency of cyber attacks continue to grow, regulators have attempted to enhance cybersecurity protections via increased and more rigid incident reporting obligations, leading to a constantly shifting regulatory patchwork of varying disclosure and timing obligations. Status/Effective Date.

Report 147

Report FDIC Regulation Security 147

PYMNTS

NOVEMBER 6, 2018

The standards put forth by the PCI Security Standards Council – the PCI Data Security Standards – offer a framework for ensuring data security, and they must be followed in order to avoid fines and other penalties. PCI compliance is vitally important for businesses that process credit cards. Gearing up for GDPR.

Compliance 179

Compliance Data Security eBook 179

CFPB Monitor

MARCH 30, 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes the following key provisions that affect financial institutions and regulation of financial institutions: Section 4003 – Emergency Relief and Taxpayer Provisions.

Regulation 122

Regulation United States Community Bank National 122

PYMNTS

OCTOBER 23, 2018

Open Banking regulations have gotten FinTech innovators’ brains churning over how to take advantage of the troves of data that traditional banks have typically kept locked away. With regulations like PSD2 and Open Banking emerging as ways to boost financial services competition, the bank-FinTech relationship has taken center stage.

Data 177

Data System Regulation Security 177

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

CFPB Monitor

JANUARY 25, 2019

The Pennsylvania Department of Banking and Securities (“DoBS”) just released Guidance declaring that virtual currency, “including Bitcoin,” is not considered “money” under the Pennsylvania Money Transmission Business Licensing Law , otherwise known as the Money Transmitter Act (“MTA”). The DoBS focused entirely on the definition of “money.”

Pennsylvania 60

Pennsylvania Security New Hampshire Texas 60

Independent Banker

NOVEMBER 30, 2021

State Bank of Texas, led by president Sushil Patel (center), has a niche working with hospitality customers like Reena and Arun Patel, who own and operate a La Quinta hotel in Dallas. Between the [Trump] administration and Congress and the regulators, they did a terrific job of allowing banks to work with their borrowers,” says Jeff W.

Community Bank 209

Community Bank Community Texas Dallas 209

Independent Banker

OCTOBER 1, 2022

But as the prevalence of security breaches grows, so do the opportunities for community banks to position themselves as guardians of their customers’ personal data through compliance, technology and relationship building. Data privacy and security is a hot topic and is only getting hotter. By Katie Kuehner-Hebert. Bob Hickok.

Data 91

Data How To Community Bank California 91

CFPB Monitor

OCTOBER 4, 2022

The CFPB indicated that simultaneously with issuing the Special Edition, but after apparently having already conducted exams based on its interpretation of Dodd Frank , it had updated its Education Loan Examination Procedures regarding the definition of “private education loans” for purposes of its authority to supervise nonbanks.

Policies 146

Policies Compliance Payments Training 146

PYMNTS

FEBRUARY 28, 2020

Credit unions possess vast troves of personal information such as credit card data and Social Security numbers that could devastate members if leaked. At least two local CUs — First Choice Federal Credit Union and Inspired Federal Credit Union — even filed class-action lawsuits against Wawa for not adhering to best security practices.

Data 131

Data California Security Pennsylvania 131

PYMNTS

SEPTEMBER 25, 2018

The report noted that there is no internationally agreed-upon definition of what that activity might be, but for the confines of the report, it includes “all credit activity facilitated by electronic [online] platforms that are not operated by commercial banks.” China was the largest market, yet volume has declined in recent periods.

Fintech 172

Fintech Lending United States Regulation 172

Insights on Business

JANUARY 3, 2019

But while mobile devices give us great power and convenience, they also create new security and privacy challenges. Simultaneously, regulators and auditors are issuing new cybersecurity regulations and guidelines. Simultaneously, regulators and auditors are issuing new cybersecurity regulations and guidelines.

Risk Management 128

Risk Management Management Regulation Guidelines 128

Insights on Business

APRIL 21, 2017

Quite the contrary, the industry had to adapt to an onslaught of new regulations in the aftermath of the Global Financial Crisis. A decade later, it may have to adapt to the dismantling of those same regulations but remain keyed up for the not-unrealistic possibility of another regulatory assault in a few years.

Technology 156

Technology Compliance Regulation Training 156

PYMNTS

JANUARY 29, 2018

Drug Enforcement Administration’s rule, which has prevented federally regulated financial institutions from providing services to marijuana companies in places like California and other states in which the drug is legal. Hertzberg highlighted the ongoing struggles of legal marijuana operations in today’s conflicting legal climate.

California 112

California San Francisco Taxes Conference 112

PYMNTS

JANUARY 25, 2021

Last week marked the third anniversary of PSD2 , the regulation that launched open banking in the U.K. It is definitely getting very cluttered. and Europe. And those three years have given rise to a slew of new companies capitalizing on that initiative all over the world, as well as established companies making their mark.

Online 300

Online Meeting Payments Cards 300

PYMNTS

AUGUST 14, 2019

In the world of small business financial services, entrepreneurs’ frustrations with banking have been loudly vocalized : firms are often considered too small to be profitable for banks’ corporate services units and are therefore pushed into an FI’s consumer banking operations.

Lending 122

Lending Cards FDIC Capital 122

PYMNTS

MARCH 8, 2018

The price of the marquee name in cryptocurrencies dipped as low as $9,450 in intraday trading when the Securities and Exchange Commission (SEC) announced there were “potentially unlawful” systems operating that allow the trading of cryptocurrencies. As a result, digital currencies can be regulated by the U.S. As of 7:48 p.m.,

Bitcoin 101

Bitcoin Wyoming cryptocurrency social media 101

South State Correspondent

JUNE 27, 2023

For example, ISO 20022 defines the elements of a real-time payment, what constitutes a beneficial owner, or what happens during a transfer of securities for collateral (below). Operational Efficiency : By using a common standard, banks can streamline their operations, reduce complexity, and simplify their infrastructure.

System 195

System Data Examples Payments 195

Celent Banking

OCTOBER 12, 2016

Most cyberattacks succeed because of weaknesses in people, processes, controls and operations. This is the definition of operational risk. Therefore, it makes sense to tackle cyber risk with the same tools you use to manage operational risk.

Risk Management 100

Risk Management Operations Management Security 100

PYMNTS

SEPTEMBER 29, 2017

According to Marc Beaulande, executive director of Login SA, a Profile company , and operator of treasury management solution AcumenNet , the pressure is on for financial institutions to upgrade their treasury management strategies. Managing liquidity and credit risk are definitely of main concern to FIs. Staying Updated.

Fintech 141

Fintech Risk Management Compliance Management 141

CB Insights

JUNE 27, 2018

In June, the SEC’s head of corporate finance William Hinman stated that ether, the cryptocurrency associated with the Ethereum network, is not a security. See how venture firms, corporates, regulators, and builders are shaping the future of blockchain technology. The SEC wants to regulate most tokens like securities.

Regulation 39

Regulation Bitcoin cryptocurrency blockchain 39

PYMNTS

MAY 6, 2019

Some things are easy to identify as more or less mature at the moment, though, and there are definitely phases in development that can be identified. Yet, healthcare is also an intensely regulated space, which means there are many challenges in how to move, store and secure data that — by statute — must remain private.

Regulation 198

Regulation Data Examples New York 198

PYMNTS

MARCH 13, 2020

Recent research finds that 67 percent of millennial business owners operate independent companies rather than franchises. The adjusted rules also affected businesses of different sizes in numerous ways, which could have sparked questions from SMB owners unsure whether the changes applied to their operations.

Millennials 160

Millennials Taxes Innovation Operations 160

PYMNTS

APRIL 12, 2017

Regulation A+ has made a mostly quiet splash on the market. Years in the making, the regulation was born from the JOBS Act, which was signed into law in 2012, with Title IV of the act — also known as Regulation A+ — enabling average joes to invest in companies seeking capital.

Regulation 102

Regulation Lending social media Operations 102

PYMNTS

NOVEMBER 30, 2020

There are now three different firms on the verge of submitting highly effective vaccines to regulators worldwide for emergency approval. percent say they definitely won’t or likely won’t get the vaccine, while 37.9 percent say they definitely or likely will. But will people take it when it arrives? The remaining 23.7

Arizona 160

Arizona Survey Boston Examples 160

PYMNTS

JULY 25, 2019

There’s definitely a benefit to having a global setup when it comes to fraud, because some of these fraud schemes are very elaborate, but… they [also] happen everywhere around the globe,” Kopp said in a recent interview with PYMNTS. operations. CEO for German-native, fully digital, mobile-first challenger bank N26.

Fraud 164

Fraud Marketing US Resources 164

PYMNTS

OCTOBER 24, 2018

From an operational standpoint, a big part of it was about trying to drill down on the cost.”. Many countries have their own know-your-customer (KYC) and anti-money laundering (AML) regulations, and there was no consistent formula for regulatory and commercial success. But Tern’s wide-ranging user base created further issues.

Fraud 166

Fraud Cards Online Data 166

PYMNTS

AUGUST 24, 2019

According to Zach Hensley, vice president of operations and guest experiences for the Seahawks and CenturyLink Field, these services are changing how fans experience live games and boosting their overall enjoyment. CenturyLink Field, home of the Seattle Seahawks , was the first NFL stadium to adopt the technology.

Payments 161

Payments social media Mobile Seattle 161

PYMNTS

APRIL 14, 2020

It stands to reason that firms that have been around for decades, with far-flung operations and payments done across multiple currencies, have a range of legacy systems in place with less-than-efficient processes entrenched in back-office functions. One example is the JPMorgan Treasury Ignition product that plugs into NetSuite.

System 230

System Tools Data Course 230

PYMNTS

SEPTEMBER 20, 2016

Payments is already a highly regulated and complex space, but when it comes to moving money for Global Citizens , the rules that govern these kinds of payments are well beyond just the basics. If there are licenses required, Butterfield suggested investing in practical legal advice and potentially working with locally situated regulators.

Compliance 100

Compliance Payments Regulation Security 100