CFPB Monitor

JANUARY 9, 2020

The New York Department of Financial Services has sent a letter to the institutions that it regulates requiring each such institution, by February 7, 2020, to provide to DFS a description of its “plan to address its LIBOR cessation and transition risk.” (LIBOR is the acronym for the London Inter-Bank Offered Rate.).

Regulation 78

Regulation New York Management Taxes 78

PYMNTS

NOVEMBER 1, 2018

In the rare instance that a new market emerges, using the blueprints that other industries have created in supply chain management, logistics, procurement and other areas may seem like the easy path to take. Payments in this market require “transparency, integrity and trust with regulators,” he said.

Taxes 122

Taxes California Regulation Innovation 122

PYMNTS

SEPTEMBER 16, 2020

PSD2 and open banking regulations were forged to accelerate competition in the financial services arena, and this week, a look at the latest initiatives reveals the opportunity for new market entrants to rival incumbents in the small business banking arena. Countingup Teams Up On SMB Solutions. Banking and accounting for U.K.

Taxes 141

Taxes Fintech Payments Security 141

CB Insights

DECEMBER 15, 2020

Change has been long overdue for the wealth management industry, which is facing growing competition, outdated legacy tech , thinning margins , and an aging client base. Digitization will be crucial for wealth managers looking to capture or retain this generation of clients. In turn, this is driving revenue for big banks. .

Management 87

Management Fintech Industry Trends 87

PYMNTS

AUGUST 2, 2019

In other news, Brazil’s Tax Authority has announced that transactions involving cryptocurrencies must now be reported to the Department of Federal Revenue ( RFB ).

blockchain 148

blockchain Fraud Data Report 148

PYMNTS

JULY 23, 2019

million) in funding from tech corporation G-Group, said Ha Trung Kien, G-Group’s chief executive. Other Facebook-type social platforms preceding Gapo – VietnamTa and Hahalolo – have not managed to build membership. Gapo has received 500 billion dong ($21.55

social media 116

social media Mobile Taxes Compliance 116

PYMNTS

DECEMBER 18, 2017

Financial management and strategy is now only part of the job description, which has come to include guiding their organizations’ tech adoption, cybersecurity efforts and growth strategy as well. Amid these changes is a world of regulatory shifts, from tax reform in the U.S. to financial reform in China and Brexit in the U.K. . —50

Taxes 109

Taxes Survey Analysis Big Data 109

Abrigo

JANUARY 17, 2023

The customer portal for requesting financials and tax returns. Loan Review and regulators love this as well. With an automated loan management system , there’s no more emailing with document attachments. Read "Lenders’ Perspectives: Commercial Loan Origination Automation" by Aite-Novarica Group. They are: .

Lending 195

Lending System Customer Experience Case Study 195

PYMNTS

JANUARY 23, 2017

Businesses face mounting risk thanks to things like geopolitical uncertainties and regulation but are also threatened by something as seemingly arbitrary as group chat platforms. 40% more cyberbreaches impacted U.S. businesses in 2016 than the year prior, found CyberScout. The report found that more than half of these breaches (55.5

Survey 100

Survey Taxes Groups Analysis 100

PYMNTS

JUNE 24, 2019

Financial regulators are considering allowing smaller businesses (SMBs) more time to comply with sweeping changes in lease accounting standards, which experts have said will place a significant burden as organizations work to comply with the requirements.

San Diego 145

San Diego Compliance Conference Taxes 145

PYMNTS

NOVEMBER 11, 2019

Hong Kong’s new regulations and supervision on digital assets transactions validates the importance of blockchain technology and digital assets, which is good news for the whole industry,” Cai said in a speech at the World Blockchain Summit in Wuzhen, China.

blockchain 109

blockchain Bitcoin Capital Taxes 109

PYMNTS

JUNE 15, 2018

In the Middle East , RAK Bank has said it will offer Sage accounting software to business banking customers, in an agreement that helps those firms manage value-added tax (VAT) compliance mandates. The software firm, Sage, has had five of its accounting offerings focused on VAT, accredited by the UAE Federal Tax Authority.

Fintech 115

Fintech Compliance Software Taxes 115

PYMNTS

MAY 18, 2018

B2B startups in the small business banking, expense management and analytics sectors led this week’s investment roundup, securing more than half of the $108 million raised. Partech and Digital Currency Group also participated in the round, reports said. Expense Management. After a few quiet weeks, U.S. Blockchain.

Fintech 134

Fintech blockchain Analytics Capital 134

PYMNTS

JULY 31, 2017

Regulators are reportedly inquiring about how a lawyer for wealthy customers of Wells Fargo came to access so large a trove of customer information. Regulators have reportedly informally reached out to the attorneys involved in the lawsuit underlying the release of information to figure out how the data breach happened.

Taxes 100

Taxes Data Security Report 100

PYMNTS

MARCH 15, 2017

Naturally, investors are taking notice — though marijuana is still classified as a Schedule I narcotic by federal guidelines, and regulations in states where cannabis is legal can get complicated. billion in state tax revenue from retail sales by 2020. and Canada. To date, Baker has raised $5.1 states and two Canadian provinces.

District of Columbia 101

District of Columbia Technology Guidelines Software 101

PYMNTS

NOVEMBER 19, 2019

Ant Financial Services Group might apply for a virtual banking license in Singapore. “We Ant Financial produced a pre-tax profit in the neighborhood of around $200 million, according to Alibaba’s yearly report. The Monetary Authority of Singapore is offering as many as five digital banking permits to non-banks to boost competition.

Digital Banking 101

Digital Banking Capital Taxes Groups 101

PYMNTS

FEBRUARY 21, 2018

A regional government in Russia is now working with state-backed VEB, reports in CoinDesk said this week, as authorities explore how to use blockchain “to improve the quality of management decisions.”. As regulators begin to consider blockchain regulations, many have signaled a desire not to hamper innovation while doing so.

blockchain 130

blockchain Los Angeles Regulation Oregon 130

PYMNTS

JUNE 27, 2017

But businesses have a different outlook when it comes to government regulations. Researchers found that 51 percent said there are too many regulations and taxes, and that this poses their most common daily challenge in running a business. Nearly a third say there is a general lack of support from the federal government.

Community 122

Community Survey Regulation Taxes 122

Independent Banker

FEBRUARY 28, 2022

No other event provides more opportunities for community bankers to engage with lawmakers, regulators and government officials. A study by the Congressional Management Foundation found that in-person constituent meetings with members of Congress and their staff are the most effective way to influence them.

Community 180

Community Washington Community Bank Capital 180

PYMNTS

APRIL 18, 2016

Ant Financial — the finance affiliate of Alibaba Group Holding Ltd. — Zhejiang Ant Small & Micro Financial Services Group Co. better known worldwide as Ant Financial — is the owner of China’s most popular payments platform, Alipay, and the manager of Yu’E Bao, the nation’s largest money market fund. .

New York 100

New York Taxes Maine Groups 100

Insights on Business

MARCH 25, 2019

Without regular updates and feedback from regulators as well as other leading financial institutions, banks may be unknowingly opening themselves up to heightened risk. Understanding that having the right information readily available is the first step in managing compliance risk.

Compliance 98

Compliance Taxes United States Data 98

PYMNTS

APRIL 1, 2019

Many marketplaces act as go-betweens for firms looking to hire remote or freelance workers by offering time-tracking options to ensure correct payments, payment transfers in various currencies, communication and collaboration options, tax estimates or compliance help, healthcare options and other work-related issues.

Payments 183

Payments Survey Online Company 183

PYMNTS

JANUARY 10, 2018

is planning to launch its own cryptocurrency, Kodakcoin, described as “a photocentric cryptocurrency to empower photographers and agencies to take greater control in image rights management.”. The blockchain hype certainly hasn’t risen without catching the attention of regulators. Regulatory Moves.

blockchain 101

blockchain Nebraska Bitcoin cryptocurrency 101

MyBankTracker

OCTOBER 1, 2020

Some people choose to invest in a group of companies called sin stocks. Typically, companies that operate in industries considered immoral or unethical are grouped together as sin stocks. Altria Group is a company behind many tobacco products. Subject to additional taxes.

Taxes 52

Taxes Examples Regulation Industry 52

PYMNTS

FEBRUARY 10, 2020

The jousting over eCommerce taxes — especially for U.S. Last week in India, the government proposed a tax on eCommerce transactions that will likely increase operating costs for sellers large and small. The tax, technically known as “Tax Deducted at Source” (TDS), is sent directly to an account held by the central government.

Taxes 175

Taxes Illinois Study Operations 175

PYMNTS

OCTOBER 17, 2018

GFA joins a small, but steadily growing, group of CUs that are offering financial services to this emerging market. GFA, however, will offer basic financial tools to these businesses, including access to online banking, checking accounts, debit cards, cash management and payroll services. Based on the latest data from the U.S.

Colorado 126

Colorado Massachusetts US Industry 126

PYMNTS

NOVEMBER 26, 2019

Businesses depend on the public services tax revenues pay for: roads that facilitate deliveries, courts where firms resolve legal disputes and regulators that help protect businesses from fraud. Even businesses eager to pay their share, however, may feel that complying with tax laws is complicated. .

Taxes 141

Taxes South Dakota District of Columbia Compliance 141

PYMNTS

MARCH 1, 2016

And while some of these strategy revamps have been telegraphed, the numbers show some impact from regulations and investigations, as the firm posted a net loss of roughly $547 million (394 million pounds), which is far worse than a year ago at 174 million pounds. Staley, on board. Staley took the reins as CEO at the end of last year.

Operations 100

Operations Strategy United States Regional 100

PYMNTS

OCTOBER 5, 2016

as one of their primary tools of financial management — since prepaid cards can be used in ways essentially analogous to debit cards for payments, funds storage, cash-outs at ATMs or receipt of salary. ” They also requested the CFPB “tread lightly” in regulating them. ” Analysts also suspect that Square Inc.’s

Cards 189

Cards Google Tools Regulation 189

PYMNTS

JANUARY 28, 2019

As has happened so far, India’s government said late last year that new eCommerce regulations would become the law of the land – at the end of this week, on Feb. million fewer jobs would be created, and the government would collect $6 billion less in taxes. While all eyes may be focused on China and the U.S. , In tandem, more than 1.1

Course 188

Course National Online Google 188

Jeff For Banks

JUNE 2, 2023

Second, this can be accomplished only if the industry does not have too much influence over its regulators and if the regulators have the ability to hire, train, and retain qualified staff. Third, the regulators need adequate financial resources. My lesson learned to the regulators, read your past lessons learned.

FDIC 78

FDIC Community Bank Regulation Lending 78

PYMNTS

JULY 18, 2017

And while SMEs are awaiting tax reform, this area also makes the U.S. Regulatory policies like tax reform and a boost in infrastructure spend may have small businesses looking up, but if regulators don’t act on those policy proposals, entrepreneurs can’t make moves to grow. “One, I think, is complexity,” the CEO said.

Software 109

Software Taxes Capital Policies 109

Jeff For Banks

JULY 6, 2013

government controlled or heavily regulated. The employee can save all of the needed savings tax deferred. Retirement Assets Should Be Pooled and Professionally Managed. But I think Harkins'' group is suggesting more centralized control in defining "professionally managed". that reads. The only other sharing (i.e.

Community Bank 106

Community Bank Community National Iowa 106

PYMNTS

OCTOBER 23, 2019

The trend promises to heat up even more in the 2020s, and in a new PYMNTS interview, Butch Langlois, president, North America, for cloud-based retail management software seller Vend , provided an in-depth tour of those changes and a glimpse of what’s to come. groups, and you had to call in people when it crashed.” POS Trends.

Retail 101

Retail System Mobile Innovation 101

South State Correspondent

OCTOBER 20, 2022

Bank call center managers often pridefully point to their “first-contact resolution” (FCR) performance. Another classic example comes when a customer is onboarded for a particular product, such as treasury management services. The situation is worse because the bank thinks they are doing a good job. The overall result?

Policies 195

Policies Training Customer Experience Examples 195

Independent Banker

SEPTEMBER 22, 2015

In June, five federal agencies (including FDIC, Office of the Comptroller of the Currency and the Federal Reserve) announced approval of a final rule that modifies regulations applying to loans secured by properties located in special flood hazard areas. taxes and insurance. taxes and insurance. Escrow obligations.

Regulation 70

Regulation Policies Community Bank Taxes 70

PYMNTS

OCTOBER 14, 2016

This rogue group also voiced fears that bitcoin’s strong position in the market could be usurped by an alternative digital currency. The group maligned the Scaling Bitcoin conference, suggesting that it was not “data-driven,” and other scaling initiatives, such as Lightning, were dismissed as “vaporware.” online services.

Bitcoin 100

Bitcoin Conference New Hampshire blockchain 100