PYMNTS

MARCH 24, 2019

Australia is including an additional $390 million in its new budget to boost its financial regulation sector, according to Reuters. In addition, National Australia Bank advisors engaged in misconduct and illegal activity, including misappropriation of client funds, according to the report.

Regulation 111

Regulation National Report Groups 111

Abrigo

MAY 8, 2024

WATCH Takeaway 1 Understanding generative AI and how peers are using AI and genAI helps financial institution leaders and management vet the technology and related risks. Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. GenAI is seeing varied use cases in banking.

Examples 222

Examples Fraud Resources Risk Management 222

Abrigo

JUNE 4, 2023

Introduction Prioritizing AML compliance resources The regulations laid out in the Bank Secrecy Act (BSA) are intended to promote financial transparency and identify those who misuse the financial system. Civil penalties vary, with regulators authorized to penalize between $5000 and $1,000,000 per violation for each day the breach occurs.

Compliance 195

Compliance Training Resources Regulation 195

PYMNTS

JUNE 14, 2019

Particularly troubling is that more than 50 percent of sites use outdated Windows software to manage their industrial control systems, and 40 percent have unsecured, direct internet connections. A recent survey found that 85 percent of industrial sites have at least one device that can be remotely accessed.

Regulation 161

Regulation Security Technology Survey 161

PYMNTS

FEBRUARY 23, 2017

A board of appeals in New York state has revoked earlier regulations surrounding payroll cards developed by the New York State Labor Department after determining that the NYSDOL exceeded its rulemaking authority under the New York State Commissioner. Reports in the National Law Review Tuesday (Feb.

Regulation 108

Regulation Cards New York ATM 108

PYMNTS

DECEMBER 13, 2018

CUs are also actively communicating with law enforcement agencies, keeping regulators informed about suspicious activity, while receiving tips on noticeable trends that these same agencies are eyeing. Recently, though, many CUs have turned to technology-driven solutions to help members more efficiently communicate their needs and feedback.

Regulation 135

Regulation South Dakota ATM New York City 135

Abrigo

JANUARY 30, 2024

This year’s conference will feature industry experts, financial institution peers, BSA/AML professionals, CPAs, law enforcement, auditors, and regulators selected especially for their expertise and timely knowledge. Network with bankers, auditors, and regulators Networking has always been table stakes to ThinkBIG conference attendees.

Conference 195

Conference Arizona Phoenix Fraud 195

Insights on Business

MARCH 15, 2019

Compliance, legal and risk professionals are looking for an end-to-end frame­work to manage compliance requirements in a way that improves overall governance, risk and compliance (GRC) program effectiveness. Focusing on such challenges, IBM and Promontory Financial Group host an afternoon gathering for senior risk and compliance executives.

Compliance 87

Compliance Management DC Washington 87

PYMNTS

JUNE 26, 2018

Accountants with small business customers facing regulatory compliance or enforcement issues will be able to seamlessly direct those clients to the SBA ’s Office of the National Ombudsman (ONO), which helps to resolve those matters. The SBA and AICPA have been working together since 2008, the entities noted.

Groups 101

Groups National Compliance Lending 101

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. Financial institutions will be the last group to gain access, and the timeline is undetermined.

Fraud 222

Fraud Regulation Report Compliance 222

PYMNTS

JANUARY 25, 2021

In today’s top payments news around the world, India’s central bank wants stricter regulations for big shadow lenders, while global foreign direct investment (FDI) dropped last year and the pandemic will continue to impact it this year. The central bank of India wants more stringent regulations for large shadow lenders.

United States 217

United States Regulation Payments Lending 217

Abrigo

JULY 21, 2021

As part of the Financial Crimes Enforcement Network’s (FinCEN) first national priorities list for anti-money laundering and countering the financing of terrorism (AML/CFT) policies, one important priority continues to be detecting, reporting, and preventing terrorist financing. Other government organizations also offer content.

Training 195

Training National Strategy Regulation 195

PYMNTS

AUGUST 28, 2020

seeks to reinstate its license to provide ride-hailing services in London after a suspension, the city’s transportation regulator will leave the decision up to a judge. based group, filed a lawsuit against Uber in the District Court of Amsterdam, where Uber’s European headquarters is located. As Uber Technologies Inc.

Operations 154

Operations Regulation Groups Data 154

PYMNTS

SEPTEMBER 28, 2020

28), ending a 10-month fight between the ride-hailing company and regulators, The Wall Street Journal reported. based group, filed a lawsuit against Uber in the District Court of Amsterdam, where Uber’s European headquarters is located. A London judge reinstated Uber Technologies Inc. 's s license to operate on Monday (Sept.

Regulation 150

Regulation Groups Data Operations 150

PYMNTS

MAY 22, 2020

The think tank’s founding members encompass financiers, policymakers, regulators and technologists in addition to select firms such as Cypherium. The group, which has been releasing detailed central bank digital currencies (CBDC) and cryptocurrency reports as of 2018, is geared toward CBDCs and retail and wholesale payments. .

Regional 161

Regional Bitcoin cryptocurrency National 161

PYMNTS

OCTOBER 13, 2020

Across the globe, terrorists and criminals are leveraging cryptos in what is gearing up to be a significant national security threat to the United States. That’s according to the U.S. In the report from the U.S. and international sanctions, and decrease America’s influence in the global marketplace.

cryptocurrency 206

cryptocurrency United States social media Regulation 206

PYMNTS

JULY 20, 2020

A group of Uber drivers in England have filed suit against the ride-hailing company for its alleged failure to provide access to data and an explanation of algorithmic management. based group, was filed in the District Court of Amsterdam, where Uber’s European headquarters is located.

Los Angeles 167

Los Angeles California Data Regulation 167

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. million people use M-Pesa.

National 160

National Policies Mobile Payments 160

PYMNTS

FEBRUARY 15, 2018

He said that in his own state of Washington, state regulators have been looking at those issues for some time to determine the possibility of some sort of reciprocity or sharing of information. “It The pilot being run with those initial seven states will provide some answers for how state regulators can streamline the process.

Washington 101

Washington Regulation Conference Fintech 101

PYMNTS

JANUARY 7, 2021

The World Health Organization (WHO) is warning that Europe is likely entering into the “acute” phase of the COVID-19 pandemic as nations scramble to quell the latest surge in infections. The approval is the second by European regulators, who greenlighted a vaccine developed by Pfizer and Germany’s BioNTech last month.

National 195

National Regional United States Policies 195

PYMNTS

MAY 22, 2020

The think tank’s founding members encompass financiers, policymakers, regulators and technologists in addition to select firms such as Cypherium. The group, which has been releasing detailed central bank digital currencies (CBDC) and cryptocurrency reports as of 2018, is geared toward CBDCs and retail and wholesale payments. .

Regional 140

Regional Bitcoin cryptocurrency National 140

CFPB Monitor

JULY 12, 2022

However, regulators themselves have been criticized for encouraging de-risking by driving highly risk-adverse decisions by FIs, who are unwilling to take the chance and assume the compliance costs of doing business with specific customers who may in fact be “legitimate,” but whose risk profile is deemed to be high due to their group affiliation.

Regulation 78

Regulation ATM Operations Policies 78

Independent Banker

OCTOBER 1, 2021

However, if the bank is underperforming peers, the peer group itself is dismissed as irrelevant (“we’re a lot different than those banks anyway…”). Bank regulators created the UBPR “peer analysis” to help further their own mission of prudential regulation, and it’s not a great substitute for the bank’s own performance benchmarking.

Analysis 91

Analysis Texas Groups Examples 91

CFPB Monitor

AUGUST 20, 2020

federal and state financial institution regulators have taken meaningful, proactive steps to acknowledge financial inequality issues, reach out to traditionally underserved populations to expand access to credit, and further protect consumers from discrimination. This blog post contains a summary of those efforts.

Regulation 78

Regulation FDIC Community Lending 78

Jeff For Banks

AUGUST 2, 2014

My firm will occasionally provide feedback on correspondence to our clients'' regulators. I thought about what we should have said to the regulator, versus the sweet words I was encouraging our client to use. Below is a sample letter to your regulator, saying it like you mean it. Warm Regards, Schmidlap National Bank.

Regulation 92

Regulation DC FDIC Analytics 92

PYMNTS

JUNE 14, 2017

Analysts agree that a company should work with partners, advisors and technologies that can help them manage their compliance demand across borders. Not only do regulations vary from jurisdiction to jurisdiction, but the consequences of non-compliance vary greatly, too. The first, unsurprisingly, is regulation.

Compliance 146

Compliance Marketing Taxes Groups 146

PYMNTS

JANUARY 13, 2021

With the national trust bank charter, South Dakota-based Anchorage will become Anchorage Digital Bank , National Association. The OCC conditionally approved the charter, meaning Anchorage had to agree to comply with certain capital and liquidity requirements, as well as the OCC’s risk management rules, the release stated.

South Dakota 131

South Dakota Digital Banking Bitcoin cryptocurrency 131

Abrigo

JULY 7, 2022

What Will Auditors and Regulators Expect with CECL Accounting? A panel of CECL accounting experts described how auditors and regulators are viewing various aspects of implementation. . Takeaway 2 Auditors and regulators don't have preconceived expectations about how CECL reserves might change for an institution.

Regulation 195

Regulation Management Video Data 195

Abrigo

FEBRUARY 15, 2023

When developing a risk assessment, institutions can treat the AML/CFT priorities as stand-alone risk factors or group them together. Financial institutions should coordinate efforts among the operations department, frontline staff, fraud teams, and risk management to educate employees on common fraud trends and patterns.

Fraud 195

Fraud United States Training Policies 195

South State Correspondent

APRIL 10, 2023

Nonetheless, with the recent collapse of sizeable regional banks, regulators, investors, analysts, accountants, and bankers are now scrutinizing the fair value of banks’ securities and loan portfolios. Fair Value of Loans The fair value of securities has made recent headlines with a focus on regulators, legislators, and bankers.

Community Bank 195

Community Bank Community Security Capital 195

Abrigo

DECEMBER 4, 2015

Sageworks banking industry experts are winding down a busy year of disseminating information and facilitating discussions on regulatory changes, such as the FASB’s upcoming move to the current expected credit loss model (CECL), and on best practices for portfolio risk management and credit analysis.

North Carolina 150

North Carolina Ohio DC Regional 150

Abrigo

JULY 28, 2021

Community financial institutions required to complete the current expected credit loss (CECL) standard implementation by 2023 are undoubtedly busy managing record-low net interest margins, pandemic-related uncertainties, and operational issues, as well as their own strategic initiatives. Benefits of earlier CECL implementation.

Resources 195

Resources San Antonio Data Regulation 195

Jeff For Banks

FEBRUARY 20, 2016

On February 14-17 the American Bankers Association held their National Conference for Community Bankers. The format was to first ask a couple of group questions. The second group question regarded capital. Some rely on a relatively small group of local investors, including employees and board members. FFIEC testing.

Conference 60

Conference Community National Millennials 60

PYMNTS

OCTOBER 1, 2019

Anil Ambani , group chairman of the non-bank financial company (NBFC), revealed the firm’s plans on Monday (Sept. 30), Reuters reported , noting that the company is struggling to overcome “collateral damage” resulting from a slowing national economic and a broader “crisis,” the publication said, in India’s lending sector.

Capital 109

Capital Lending Regulation Operations 109

PYMNTS

SEPTEMBER 26, 2018

Australian regulators on Tuesday (Sept. Reports in Reuters said the Australian Securities and Investments Commission (ASIC) announced the completion of its review into Australia’s top four banks and how they managed and remediated issues of non-compliance. .” Those breaches resulted in $361.9

Regulation 108

Regulation National Compliance System 108

PYMNTS

MARCH 12, 2019

The Australian Securities and Investments Commission (ASIC) is criticizing top Australian banks for what the regulator said is an inefficient process of reviewing internal systems that allowed the banks to charge excess fees to customers. The Royal Commission has referred two dozen cases for regulators, which could result in prosecution.

Regulation 108

Regulation National Resources Security 108

Abrigo

JULY 23, 2021

The regulations are forthcoming, but institutions now should begin the process of performing a threat-focused risk assessment which will guide them where to focus their efforts. More recently alleged cyber-crimes including ransomware, attacks on exchanges, and mining have been attributed to DPRK controlled groups.

National 195

National Training United States Regulation 195