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California Dept. of Financial Protection and Innovation announces plans to exercise expanded powers under Consumer Financial Protection Law

CFPB Monitor

In its January 2021 monthly bulletin , the DFPI stated that, with the CCFPL now in effect, the DFPI will begin exercising its “expanded powers to better protect consumers from unlawful, unfair, deceptive, and abusive practices.” In the bulletin, the DFPI outlines its plans to implement the CCFPL and exercise its expanded powers.

Exercises 127
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2022 Dodd-Frank Stress Test Scenarios Released

Perficient

The Office of the Comptroller of the Currency (OCC) recently released the economic and financial market scenarios that will be used in the upcoming stress tests for covered institutions. As repeated by federal bank regulators, the required economic scenarios are not forecasts. The 3-month Treasury rate increases from 0 percent to 1.5%

Capital 294
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Bitcoin, Other Cryptocurrencies Continue Decline Over Regulation Fears

PYMNTS

With fresh concerns about government regulation of cryptocurrency surfacing, Bitcoin and other digital tokens continued the recent declines in value, erasing $550 billion in value for the global cryptocurrency market since the start of 2018.

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Bitcoin Daily: S. Korea To Use Blockchain To Collect Highway Tolls; Polish Financial Watchdog Warns Of Fake Crypto Scams

PYMNTS

Then the regulator clears the payment to be deposited to the nonexistent fund. The PFSA said it “would like to remind you that the cryptocurrency market in Poland is not a regulated or supervised market. They still have to inform NYDFS before using the coin, though.

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Installment Payments Push Sports-Equipment Sales Over The Finish Line

PYMNTS

BNPL solutions are the fastest-growing online payment methods in the United States as well as Australia, Brazil, the United Kingdom and more, and their market share is projected to grow at a compound annual growth rate of 28 percent over the next five years. consumers to take their exercise routines indoors. Approximately 51.6

Exercises 165
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EU Regulators May Launch X-Border eCommerce Investigation

PYMNTS

There appears to be some dirty pool taking place over eCommerce between countries in the European Union, and antitrust regulators might be taking action to sort it out. Assessing whether this is a genuine concern or a pretext to separate the internal market is a delicate exercise in each of these cases.”

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Top 10 Regulatory Topics NBFIs Should Prepare for in 2022

Abrigo

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. Takeaway 3 NBFIs should review common deficiencies in AML programs that regulators are citing and fix issues before their next audit or exam.