PYMNTS

MARCH 31, 2020

The COVID-19 pandemic has led to a jump in online payments versus those made in stores, for example. The necessity of such regulations is undeniable, however, as lagging data standards leave businesses and consumers open to fraud and boost frustration regarding the speed of digital transactions. It can be difficult for U.S.

Regulation 154

Regulation Data US Washington 154

BankUnderground

NOVEMBER 2, 2022

Operational risk is rapidly becoming one of the most important threats to the financial system but is also one of the least well understood. But they are only one part of operational risk, which includes losses from any kind of business disruption or human error, including power outages or natural disasters.

Operations 93

Operations Policies System Regulation 93

CFPB Monitor

JUNE 2, 2022

In a surprising development, the California Privacy Protection Agency (CPPA) published proposed amendments to the CCPA regulations recently. The proposed amendments—which in effect are the draft CPRA regulations—were issued without advance notice, ahead of the schedule previously announced by the CPPA. .

Regulation 78

Regulation California Exercises Compliance 78

Cisco

OCTOBER 4, 2022

It is an update to the 2004 Operations book, and links the different processes of Architecture, Infrastructure, and Operations (AIO) into a cohesive framework for auditors to assess. In this booklet the FFIEC discusses the principles and practices for IT and operations, as well as processes for addressing risk respective to IT systems.

Operations 118

Operations Software Risk Management Management 118

Cisco

JANUARY 24, 2023

The prior blogs in this series, listed at the bottom, have discussed the various regulations affecting CIOs and their IT organizations. The purpose of this blog is to discuss a few ways in which tooling and automation capabilities can be used to satisfy the asset management requirements of the FFIEC Operations Guide.

Meeting 96

Meeting Regulation Management Technology 96

PYMNTS

APRIL 1, 2019

In one example, as noted by CoinDesk, Pakistan is mandating regulations for the crypto space. It has been really difficult for us to operate Coindelta exchange for the last 6 months,” Yadav noted on a Medium post. As has been previously reported, banks have been prohibited from dealing with those crypto businesses.

Regulation 183

Regulation cryptocurrency Leadership Report 183

PYMNTS

JUNE 9, 2020

The EU enacted open banking rules in 2018, inspiring regulators worldwide to reconsider how they were transacting funds or transmitting data. The COVID-19 pandemic’s impact on daily business has generated new questions surrounding these initiatives that regulators are now scrambling to answer. and the EU. Australia and Canada.

Regulation 132

Regulation Online California Regional 132

PYMNTS

APRIL 1, 2020

Restaurants are tough businesses to operate, even in the best of times — 60 percent fail within their first year, and 80 percent within their first five. The pizza industry, for example, is actually growing because pizza is affordable and pizza firms have spent the last several decades perfecting delivering it in 30 minutes or less.

Operations 171

Operations New Jersey Connecticut Course 171

PYMNTS

JANUARY 15, 2021

To get a bit more granular, in an interpretive letter , the OCC said that regulated financial institutions (FIs) can participate in independent node verification networks (INVN for short – namely, a blockchain network). But if the road to stablecoins is getting clearer, don’t expect rush-hour traffic on that road yet, cautioned Allaire.

Regulation 253

Regulation US Payments Compliance 253

PYMNTS

JUNE 14, 2019

Google CEO Sundar Pichai pushed back against talk of regulating tech companies, saying that the move could have unintended consequences, according to a report by CNBC. “I I worry that if you regulate for the sake of regulating it, it has a lot of unintended consequences,” Pichai said.

Google 108

Google Regulation Comparison Leadership 108

Abrigo

JULY 27, 2023

For example, in the pharmaceutical industry, manufacturers can use regtech to ensure that marketing complies with FDA requirements. Of course, banks and credit unions are highly regulated industries, and this is increasing. That’s where regtech for banks can help.

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

JULY 27, 2023

For example, in the pharmaceutical industry, manufacturers can use regtech to ensure that marketing complies with FDA requirements. Of course, banks and credit unions are highly regulated industries, and this is increasing. That’s where regtech for banks can help.

Technology 195

Technology Fraud Compliance Regulation 195

PYMNTS

OCTOBER 30, 2020

Compliance with oversight laws, especially those involving anti-money laundering (AML) or know-your-customer (KYC) regulations, is a perennial struggle for FIs of all sizes. Automating Compliance.

Operations 228

Operations Payments Compliance System 228

Perficient

JUNE 1, 2022

This includes implementing and operating computer systems that commence the trade reporting process at the time of execution without delay. I’ve created a guide, The What, Why, and How of TRACE Reporting Compliance , that outlines the intricacies, rules, and regulations surrounding TRACE. Interested in learning more?

Report 294

Report Security Regulation System 294

PYMNTS

OCTOBER 15, 2018

As noted by the Conference of State Bank Supervisors (CSBS), state regulators earlier this month released the inaugural Money Services Business Industry Report, which featured transaction data tied to 2017 and focused on licensed money transmission and payments. From a high-level view, the industry handled $1.2

Report 170

Report Regulation Data Industry 170

PYMNTS

FEBRUARY 5, 2018

Last month, Canada’s Competition Bureau released its final study on tech-led innovation in FinTech, offering regulators some thoughts on competition in the payments sphere, along with suggestions on where the competitive landscape could be improved. PYMNTS asked which countries might be a model and a template for innovation for Canada.

Regulation 103

Regulation Bitcoin Innovation Study 103

PYMNTS

JUNE 29, 2020

The rise of online and contactless transactions in the European Union, for example, has meant that many merchants are making the bulk of their sales away from brick-and-mortar stores. The health crisis has brought about changes to this rule, however, and these may have long-term implications for payment standards and regulations.

How To 239

How To Payments Management social media 239

Abrigo

JANUARY 24, 2024

The FDIC bid process is highly confidential and typically operates within a short window before the FDIC officially closes a bank and declares a successful acquirer. For example, adopting the current expected credit loss standard (CECL) required a well-planned strategy and ample time dedicated to the operational and technical transition.

FDIC 195

FDIC Regulation Strategy Data 195

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

BankUnderground

NOVEMBER 8, 2023

As we find that these welfare differences are primarily driven by distortions in financial markets, we argue that countercyclical macroprudential regulation , even without any green-biased component, can effectively align the welfare performance of these policies and mitigate their short-run costs.

Policies 64

Policies Regulation Taxes Compliance 64

PYMNTS

JANUARY 18, 2018

Regulation has undoubtedly acted as a catalyst to major financial services trends in areas like small business (SMB) lending, faster payments and, most recently, open banking and collaboration with FinTechs. According to the results, banks argue that innovation, not just regulation, is behind the wheel of progress. Optimism Up.

Regulation 156

Regulation Innovation Fintech Marketing 156

PYMNTS

SEPTEMBER 18, 2017

Here’s a funny example that sets up an exchange between two business executives on an airplane. The credit bureaus were included in the CFPB’s scope of oversight in 2012, and she’s asked the agency to let her know what additional power it might need to better regulate the credit reporting agencies going forward.

Report 202

Report Regulation Data Retail 202

Abrigo

DECEMBER 13, 2023

Well-documented adjustments will please regulators. Testing process Calibrate your program with above-the-line/below-the-line testing One of the best ways to address dynamic and emerging risks is conducting above-the-line/below-the-line (ATL/BTL) testing to ensure your software operates at its peak efficiency.

Training 221

Training Fraud Software Regulation 221

Perficient

SEPTEMBER 16, 2022

Legal status – There is some question regarding the legal status of many crypto-assets – is it a security, is it fungible, is it a derivative – as well as the very limited legal precedent regarding how crypto-assets would be treated in varying contexts, including, for example, in bankruptcy court. The Home Owners’ Loan Act.

Compliance 275

Compliance Risk Management System Regulation 275

PYMNTS

SEPTEMBER 24, 2020

In an interview with Karen Webster, John Rainey , chief financial officer and executive vice president of global customer operations at PayPal , noted that CFOs (including himself) have learned to pivot, too, with ground-level, tech-driven insights that move well beyond simply tracking money flows. Everybody’s got to work from home.’”.

Analytics 293

Analytics Examples Trends Operations 293

Perficient

MAY 5, 2022

Two-plus years later, banks and credit unions continue to feel the pressure to transform their credit and lending operations. As an example, for one client, we implemented a “treat-people-right-and-they’ll-pay-you-back” plan that meets today’s heightened customer expectations. And for good.

Lending 354

Lending Strategy Marketing Big Data 354

South State Correspondent

MAY 9, 2023

The regulators are considering three options: raising the limit above $250k, raising the cap for only certain accounts (such as banks’ business accounts), or eliminating the cap entirely. Can Regulators Help The banking industry needs regulations and regulators to review banks. economy needs.

FDIC 195

FDIC Regulation Capital Management 195

Abrigo

JANUARY 3, 2024

While many think of trade, commerce, and cultural exchange when considering this region, ignoring the undertow of illicit activities is impossible—the border remains a hotspot for drug trafficking, illegal arms trade, human trafficking, and smuggling operations, necessitating vigilant scrutiny and transaction monitoring within the U.S.

United States 221

United States San Antonio Training Fraud 221

Perficient

DECEMBER 14, 2020

Crisis response, maintaining safe and operational working conditions, mitigating supply chain disruptions, maintaining liquidity, and deftly responding to shifts in the market have emerged as key focus areas for all businesses. Cloud Computing will be Increasingly Regulated. Cloud-Native Technology Will Power Digital Transformations.

Technology 348

Technology Trends Software Resources 348

PYMNTS

OCTOBER 21, 2020

In April, for example, the EBF, European Association of Co-operative Banks (EACB) and the European Savings and Retail Banking Group (ESBG) said that tech-driven priorities include the development of instant payments capabilities across the EU and robust data sharing. Ready for Digital Currencies? .

Data 317

Data Regulation National Examples 317

FICO

MARCH 7, 2023

Home Blog FICO Responsible AI: Are European Firms Ready for the Regulators? There are significant changes coming in Europe, which highlight getting a handle on responsible AI use, with the banking and financial services sector among those that will be most impacted by increasing regulation.

Regulation 52

Regulation America Compliance Fraud 52

PYMNTS

JULY 5, 2020

The nation’s marijuana regulator has told financial institutions to treat the $500 million hemp businesses the same way they would any other businesses. Suspicious activity must be reported, for example, if a customer appears to be engaged in hemp production in a place where hemp production remains illegal.

US 352

US Nevada Arizona Guidelines 352

PYMNTS

JULY 21, 2020

Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. Regulators in other regions, including Latin America, are also shaping and announcing plans to enable open banking and better support digital financial systems.

Mobile 229

Mobile Report America Regulation 229

PYMNTS

JANUARY 12, 2020

Wells Fargo is striving to revamp its approach to technology to ensure systems stay online, satisfy regulators and block cybercriminals, the Wall Street Journal (WSJ) reported on Saturday (Jan. He said repairing problems pointed out by regulators is his “first priority.” Powell is the former Santander head executive. .

System 147

System Regulation Resources Meeting 147

PYMNTS

MARCH 27, 2020

While the advancement of open banking regulations may be seeing a small skip due to the spread of the coronavirus , many countries saw business and typical banking operations halted right after deciding upon new online privacy rules. Considering t he global nature of COVID-19, regulators outside of the U.S.

Data 199

Data Retail US California 199

PYMNTS

NOVEMBER 1, 2020

In Apple 's annual report , the tech giant discussed the impact that various legal proceedings and new regulations around the world could have on its operations and financial conditions. Apple said that, regardless of the merit of those claims, the lawsuits can prove expensive, costing time and disrupting day-to-day management.

Apple 235

Apple Company Report Regulation 235

Abrigo

OCTOBER 14, 2022

Takeaway 3 Utilize regulatory guidance to understand regulators' expectations, which are likely to include consistent stress testing. They are having to outsource a lot and increase their operating expenses without any offsetting revenue and while dealing with supply chain issues.” Get to know regulator expectations and priorities.

Risk Management 195

Risk Management Management Policies Lending 195