Abrigo

JUNE 8, 2021

On September 9, 2020 Deutsche Bank Trust Company Americas (DBTCA) agreed to pay two civil monetary penalties – one for $157,500 and the other for $425,600 – to the Department of the Treasury OFAC for violations of the Ukraine-Related Sanctions Regulations. Framework Document. What can AML professionals learn from the DBTCA case? .

Compliance 195

Compliance Software Case Study Payments 195

Abrigo

JANUARY 3, 2024

Treasury’s Financial Crimes Enforcement Network (FinCEN) recently issued a new regulation on the requirements, including how AML staff will access the information through a new federal beneficial ownership information (BOI) registry. This is in line with the current CDD regulations. Effective Jan. More is expected on this later.

Fraud 221

Fraud Regulation Report Compliance 221

PYMNTS

JULY 23, 2019

China’s banking regulator is introducing stricter requirements on banks and insurance institutions that provide supply chain financial solutions in an effort to curb fraud, according to China Daily reports last week. Noah, however, claims that it had verified all documentation with JD.com. Regulators Step In.

Fraud 128

Fraud Regulation Report Management 128

Abrigo

JUNE 2, 2021

This document was also written for examiners and recognizes the exam burden for financial institutions. The guidance emphasizes a risk-focused approach to examinations and refocuses the regulators to scope each exam according to the unique financial institution, not to use a one-size-fits-all approach. 6 Critical Areas. Calibration.

How To 195

How To Training Compliance Policies 195

Abrigo

AUGUST 31, 2023

Critical KYC Asking uncomfortable questions: the personal touch Senior management may view KYC as a regulatory obligation that burdens the client experience, thus affecting the relationship. Mid-level employees often feel anxiety when performing KYC procedures that involve questions that may seem uncomfortable.

Compliance 195

Compliance Community Training System 195

PYMNTS

DECEMBER 29, 2020

“Though the industry moved to enable interoperability of mobile wallets in 2018, this is limited to only P2P payments, and is yet to be expanded to both merchant and agent interoperability and even to work seamlessly at P2P,” according to the draft of the Kenya National Payments System 2021-2025 report.

National 160

National Policies Mobile Payments 160

South State Correspondent

JUNE 7, 2023

ERC Assist works with a nationally recognized, top-tier accounting firm specializing in financial institutions and has helped more than 25 banks collate the data and documentation needed to file an ERC claim. Unable to hold in-person meetings—with customers, partners, regulators, industry representatives, and more.

Taxes 195

Taxes Meeting Operations ATM 195

Jeff For Banks

NOVEMBER 24, 2019

September 1st, 1999, regulators from the Federal Deposit Insurance Corp, at the behest of the Office of the Comptroller of the Currency, descended on a small coal mining town in Keystone, West Virginia. Clearly, blue-suit regulators stood out. The bank, First National Bank of Keystone, was $1.1

National 78

National West Virginia Virginia Pennsylvania 78

Abrigo

JULY 16, 2021

Takeaway 2 Regulations haven't been written, but there are steps community financial institutions can take now to prepare. While these are general today, the AMLA requires that regulations be written around each Priority, as appropriate. Until regulations have been released and go into effect, regulatory expectations remain unclear.

Community 195

Community Regulation Training Policies 195

PYMNTS

DECEMBER 10, 2020

and Europe the ability to send secure funds to 12 nations in Africa for a reduced charge. We wanted to help bring down the cost and speed up the process to boost financial inclusion,” Xoom Vice President and General Manager Julian King said in a press release. Xoom, PayPal's money transfer arm, is now offering clients in the U.S.,

Payments 178

Payments Google Technology Taxes 178

PopularBank

MAY 25, 2021

Popular Bank Senior Vice President and Director of National Healthcare Financing Andrew Boland joined fellow industry leaders for the Environmental Banker Association (EBA) panel discussion How COVID Changed Senior Living & Care Underwriting. Are you following current regulations? EBA Panel Key Insights and Takeaways.

National 52

National Industry Lending Strategy 52

Gonzobanker

FEBRUARY 22, 2024

They should seek out “white space” opportunities, those underserved segments such as start-ups focused on sectors like health-care professionals, cash-oriented businesses, and small-to-medium businesses that are not actively pursued by large national banks.

Lending 78

Lending Community Bank Community Strategy 78

Independent Banker

SEPTEMBER 25, 2014

The better prepared, the less likely they are to run afoul of the continually shifting regulations. Regulators and industry consultants agree that community banks are generally doing a great job handling their regulatory oversight and requirements. Be aware of existing or emerging risk concerns.

Compliance 101

Compliance Regulation Community Bank Community 101

PYMNTS

JUNE 10, 2020

Notarization has historically required in-person meetings and the collection and submission of a number of physical documents. Sending and receiving this documentation is not only frustrating for consumers, but also time consuming and vulnerable to errors. The state of Florida requires that RON sessions be recorded.

Online 131

Online Florida Meeting Regulation 131

Abrigo

JULY 6, 2017

It’s been more than six months since the National Credit Union Administration (NCUA) issued its revised member business lending (MBL) rule in January 2017. The NCUA recently updated the Examiner’s Guide to include what it described as a clear framework for supervisory expectations for managing a commercial lending program.

Risk Management 170

Risk Management Lending Policies Management 170

Abrigo

APRIL 30, 2020

Key Takeaways Federal and state banking regulators have eased coronavirus workout pressures. Financial institutions across the country should establish effective plans for managing loan workouts. 1, 2020, and the earlier of 60 days after the termination of the National Emergency, or Dec. Qualifying loan modifications.

Strategy 195

Strategy Meeting Software National 195

Abrigo

JULY 29, 2015

The rise of online lenders paired with low interest rates nationally has left some financial institutions hungry to bring in new loan customers. Documentation and organization came up repeatedly in respondents’ open-ended comments about exams and advice for their peers. Concentration and CRE risk is still important to the regulators.

Survey 150

Survey Regulation Policies Risk Management 150

Abrigo

MAY 19, 2017

With the National Credit Union Administration issuing its final member business lending (MBL) ruling as of January 2017, credit unions are seeing increased flexibility in their lending limits. Who is responsible for collecting key documents, and will a system be used to track tickler documents and member compliance?

Lending 150

Lending Analysis Knowledge Base System 150

PYMNTS

DECEMBER 11, 2019

Wang Qiang, who is the deputy general manager of planning and design for the starfish-shaped building, said the facility will process over 100 million passengers per year by 2040. China Central Television, which is owned by the state, has asked for laws to regulate the technology, and a professor sued a zoo over it as well.

Training 142

Training Technology Policies Course 142

Abrigo

FEBRUARY 6, 2020

foreign policy and national security goals to secure the global financial system and protect the United States from the threats of terrorism, human and drug trafficking, and economic damages. OFAC restated its crucial role in furthering U.S. What does a “maximum pressure strategy” entail? What does a “maximum pressure strategy” entail?

United States 195

United States Compliance Strategy National 195

Abrigo

JUNE 19, 2022

And while regulators said some institutions would find the ELE tool useful for CECL, they acknowledged it did not represent a preferred method of regulators or a “safe harbor” method for GAAP compliance. Are you using national data or local? Stay up to date on CECL and other portfolio management best practices.

Tools 195

Tools Regulation Data Resources 195

Abrigo

DECEMBER 17, 2021

What better w ay to strengthen your financial institutions ' culture of compliance and build your use case for your senior management than through a comprehensive staffing assessment? Remember, regulators don't care how much you have in your budget for staffing. BSA Rules and Regulation. Be Prepared. Download our guide.

Compliance 195

Compliance Training Fraud Resources 195

Abrigo

JULY 12, 2021

After all, said Garver Moore, Abrigo Managing Director, “The purpose of the qualitative factors is to address what’s not in the losses expected from the quantitative baseline analysis.” Some methodologies necessitate the use of more Q factors than others, said Regan Camp, Managing Director at Abrigo. “It Reliable, Consistent.

Analysis 195

Analysis Conference Management Regulation 195

Abrigo

DECEMBER 13, 2019

They are particularly appropriate when the FDIC has communicated with management regarding supervisory concerns and has determined that management and the board of directors are committed to and capable of addressing these concerns with some direction. BSA Rules and Regulation. CECL Regulation. Lending Regulation.

FDIC 195

FDIC Regulation Capital Lending 195

PYMNTS

MAY 11, 2018

The Australian government is planning to cut funding for its corporate watchdog, despite the regulator warning that a lack of resources has already limited its effectiveness. Such banks included the Commonwealth Bank of Australia, which was announced in the Commission’s preliminary findings of the investigation.

Resources 108

Resources National Regulation Security 108

Abrigo

SEPTEMBER 20, 2023

Recognizing the gravity of the situation, the Financial Crimes Enforcement Network (FinCEN) identified fraud as a national priority. Regulators will be expecting this as they examine institutions for FinCEN priority preparedness. It's no longer a discretionary measure but an imperative one. Staying on top of fraud is a full-time job.

Fraud 195

Fraud Trends Cards Software 195

PYMNTS

MARCH 6, 2018

According to news from Reuters , a document by the European Commission revealed that the law would enable the FinTech sector to grow through crowdfunding and common blockchain technology standards. “An

Fintech 136

Fintech blockchain Maine Guidelines 136

Abrigo

DECEMBER 14, 2014

Many would point to imprudent lending standards as a leading cause of the financial crisis of 2008, and in turn, financial institution regulators have since bolstered lending standards and capital thresholds as a preventive measure against a similar crisis.

Guidelines 223

Guidelines Payments Lending Capital 223

PYMNTS

AUGUST 14, 2018

According to documents procured and reviewed by National Public Radio , it looks like the effort to roll back some of the protections – specifically those sections that are meant to protect military members taking out car loans – are being pushed by the White House itself. . Retired Army Col.

Lending 100

Lending Regulation Kentucky Utah 100

PYMNTS

JULY 31, 2017

In fact, the federally backed National Credit Union Administration (NCUA) reported credit union membership grew by 4.3 This inaugural edition of the Tracker covers the most significant recent developments from around the credit union market, including notable innovations, industry partnerships and efforts to challenge and change regulations.

Report 114

Report Innovation Regulation National 114

PYMNTS

DECEMBER 3, 2018

To learn more about how to better authenticate online purchases of those products (the vapes, the liquids), and how to do so in ways that are seamless and secure, PYMNTS spoke with Reinhard Hochrieser, director of product management at Jumio , an authentication solutions provider. Market Growth. First, a word about the stakes involved.

Online 177

Online Training Security Data 177

PYMNTS

DECEMBER 19, 2018

The government is investing $9 million across a series of blockchain initiatives that in addition to the aforementioned, port-focused one, include customs clearance, cross-border e-documentation and livestock supply chain management.

blockchain 155

blockchain Guidelines Report Regulation 155

PYMNTS

SEPTEMBER 11, 2018

Those two countries, having signed a memorandum of understanding a decade ago, are part of the Global Financial Innovation Network, which embraces a dozen financial regulators and countries. There are 180 partnerships in place already, said Xero, with a roster that includes Barclays and National Australia Bank.

Fintech 161

Fintech Big Data Tools Management 161

Cisco

AUGUST 9, 2022

As these have attacks have evolved, regulatory bodies have updated their regulations to account for the increasing threat of cyber risk. In 2015, following a significant increase in nation state and hacktivist attacks on U.S. External Dependency Management. Cyber Incident Management and resilience. Cybersecurity Controls.

Tools 114

Tools Leadership Handbook Security 114

Perficient

JUNE 5, 2020

Secure software practices are at the heart of all system development; doubly so for highly regulated industries such as health-care providers. Intake, Construction, Release Management), and DevOps pipeline tooling. Secrets Management. Examples include Hashicorp Vault, Azure Vault, and other secret management systems.

Compliance 332

Compliance Security Software System 332

CFPB Monitor

APRIL 25, 2022

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. In January 2021, the OCC granted Anchorage conditional approval for a national trust bank charter.

Compliance 78

Compliance Digital Banking Training South Dakota 78

Abrigo

SEPTEMBER 22, 2021

Instead, they suggested focusing on “telling the story” (in their documentation and disclosures) of how they have developed their CECL estimates. “I I think it’d be wise for institutions to take that advice to heart,” said Graham Dyer, Partner in the National Professional Standards Group of Grant Thornton LLP. PCD Disclosures.

Security 195

Security Examples National Report 195