PYMNTS

JULY 5, 2019

The Bank of Japan ( BOJ ), Japan’s central bank, has joined in with other regulators and officials around the world in its worry over Facebook’s proposed cryptocurrency Libra , according to reports. . The bank is worried that the currency will be difficult to regulate and that it could potentially harm the existing financial system. “It

Regulation 102

Regulation cryptocurrency United States Policies 102

Perficient

MARCH 3, 2022

Federal bank regulators work together to design Comprehensive Capital Analysis and Review (“CCAR”) stress tests that are designed to ensure that even in the case of a severe recession, significant banks can lend to households and businesses. As repeated by federal bank regulators, the required economic scenarios are not forecasts.

Capital 294

Capital Regulation Exercises United States 294

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

CFPB Monitor

OCTOBER 25, 2022

While creditors are allowed to price loans differently based on objective differences in creditworthiness, New York’s Fair Lending Law prohibits discrimination against protected classes for the granting, withholding, extending, renewing of credit or in the fixing of interest rates, terms or conditions of any form of credit.

New York 78

New York Lending Community Bank Community 78

PYMNTS

AUGUST 12, 2020

Online wealth management platform Lufax is the latest to file plans for an IPO in the United States as Chinese firms rush to go public before tough new federal disclosure rules go into effect. A unit of Ping An Insurance Group, Lufax filed confidential paperwork with the U.S. stock exchanges will have to conform to U.S.

US 147

US United States Lending Regulation 147

PYMNTS

OCTOBER 8, 2018

The impact of Europe’s General Data Protection Regulation ( GDPR ) continues to take shape roughly five months after taking effect, and Facebook could be on the hook for billions of dollars in fines tied to a data breach of about 50 million user accounts. Crypto Regulations. Regulatory Fines, on a Global Scale. billion.

United States 174

United States Regulation cryptocurrency Cleveland 174

Abrigo

APRIL 6, 2022

Takeaway 2 The change includes an obligation to inform regulators of a “notification incident” ASAP and no later than 36 hours after a reportable event occurs. On April 1, 2022, new computer-security incident notification requirements for banks and their service providers take effect in the United States.

Security 195

Security Regulation District of Columbia United States 195

CFPB Monitor

MARCH 30, 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes the following key provisions that affect financial institutions and regulation of financial institutions: Section 4003 – Emergency Relief and Taxpayer Provisions. Section 4011 – Temporary Lending Limit Waiver.

Regulation 122

Regulation United States Community Bank National 122

PYMNTS

SEPTEMBER 25, 2018

When it comes to FinTech firms and lending, might it be that what we don’t know could hurt us? Viewed from high levels, the activity itself (lending, that is), has taken off in some of the countries one might expect, marked by relatively higher incomes, and where financial regulation might be relatively less stringent.

Fintech 172

Fintech Lending United States Regulation 172

PYMNTS

MARCH 2, 2016

Banco Santander SA, with an eye on its units based in the United States, is taking a $4.8 billion goodwill impairment charge tied to its consumer lending unit. accounts for and makes provisions for risky loans.

Lending 100

Lending US United States Company 100

Bank Innovation

MARCH 27, 2020

In a week that saw the coronavirus pandemic amplify in the United States, the fintech sector continued to weather economic dislocation and uncertainty. But even amid this uncertainty, fintech companies began formulating strategies to help banking and consumers emerge from the crisis with better tools and solutions.

Fintech 259

Fintech United States Tools Strategy 259

Abrigo

JANUARY 17, 2024

FinCEN data shows that human trafficking in the United States takes place in a wide variety of industries—hospitality, agriculture, janitorial services, construction, restaurants, domestic work, and so on.

Training 259

Training Community Software Texas 259

PYMNTS

JANUARY 20, 2021

Euro area banks have cut back on lending, as the pandemic continues to threaten the economy. The WSJ said that regulators fear a new wave of SMB defaults could mean big losses for European banks. The WSJ said Europe’s banks are especially vulnerable to small businesses going belly up, compared to the United States.

United States 152

United States Comparison Lending Regulation 152

PYMNTS

OCTOBER 13, 2020

The funding will be harnessed to grow the firm’s labor force and bolster its Razorpay neobanking platform as well as its Razorpay Capital lending arm. Allegro’s IPO success comes after an uptick in successful IPOs in the United States in addition to a rush of shoppers’ retail dollars into online shopping amid COVID-19.

United States 130

United States Payments Regulation cryptocurrency 130

PYMNTS

APRIL 15, 2019

In the United States, there’s a bit of concentration here, as 29 percent of shadow banking is tied to the country, at $15 trillion in assets. The Question of Regulation. Dimon said leveraged lending and student lending are “growing rapidly … and deteriorating rapidly.” During the Congressional hearing, Rep.

Lending 175

Lending United States Survey System 175

Abrigo

JULY 16, 2021

Takeaway 2 Regulations haven't been written, but there are steps community financial institutions can take now to prepare. FATF is the global watchdog for AML/CFT activity, and it is important to note that the United States shows full support in global efforts by their recent priorities release. How to prepare. financial system.

Community 195

Community Regulation Training Policies 195

CFPB Monitor

APRIL 5, 2017

On March 30, Director Cordray gave his annual speech to the United States Chamber of Commerce’s 11th Annual Capital Markets Summit. His prepared remarks focused on the CFPB’s role in adopting regulations. He trumpeted the CFPB’s promulgation of detailed regulations for the mortgage industry.

Regulation 68

Regulation United States Lending Capital 68

Abrigo

FEBRUARY 8, 2022

Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. Takeaway 3 The FinCEN Priorities specifically state that each priority applies to NBFIs in addition to traditional financial institutions. . Stay up to date on regulations affecting NBFIs and other BSA trends.

Compliance 195

Compliance Training Regulation Fraud 195

PYMNTS

MAY 14, 2018

The rule, of course, amended Bank Secrecy Act regulations in ways that seek to enhance transparency in reporting of ownership of legal entities. Additionally, in the United States, a labor battle at the CFPB may loom. And yet, as reported this past week, the regulators may not be up to doing the regulating.

United States 102

United States Regulation Report Course 102

CFPB Monitor

APRIL 5, 2017

On March 30, Director Cordray gave his annual speech to the United States Chamber of Commerce’s 11th Annual Capital Markets Summit. His prepared remarks focused on the CFPB’s role in adopting regulations. He trumpeted the CFPB’s promulgation of detailed regulations for the mortgage industry.

Regulation 60

Regulation United States Lending Capital 60

Abrigo

AUGUST 19, 2020

As stated by the Federal Financial Institutions Examination Council (FFIEC), monitoring and reporting are critical to the United States’ ability to combat terrorism, terrorist financing, money laundering, and other financial crimes, such as fraud. Lending & Credit Risk. Member Business Lending. SBA Lending.

Fraud 195

Fraud System Trends Software 195

Gonzobanker

JUNE 14, 2023

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act.

Compliance 109

Compliance FDIC Strategy Fintech 109

BankBazaar

APRIL 19, 2023

What have the regulators done? After the collapse, the governments and regulators across the world are checking for SVB exposure in their corporate and banking sectors. While the government is trying its hard to pacify investors’ fears, regulators are trying to find new buyers to take over SVB’s domestic lending portfolio.

US 78

US United States FDIC Regulation 78

Perficient

NOVEMBER 22, 2022

Financial institutions that lend to small business owners need to know that a borrower’s nonbusiness assets and military pay are protected from creditors while the servicemember is on active duty. Lenders are not permitted to make a negative notation on the requester’s credit report because they requested SCRA protection.

National 275

National United States America Lending 275

PYMNTS

MARCH 13, 2019

By way of comparison, there are 11,000 pawn shops in the United States, but the average loan size is only around $100. As of now, the country’s insurance and banking regulator is beginning to draft new rules aiming to toughen up oversight in the pawn shop lending industry, according to sources cited by Bloomberg.

Lending 108

Lending United States Comparison Regulation 108

PYMNTS

FEBRUARY 18, 2019

In China, Reuters reports that banks have resisted “maxing” out their credit card business, eyeing consumer spending and the fact that credit card lending has become what the newswire calls a “risky supplement” to other loan activity. And, perhaps in recognition of that risk, these same banks are pulling back on credit cards.

Cards 123

Cards United States Lending Analysis 123

PYMNTS

JUNE 28, 2016

not really that surprising, given that it is the country that the United State declared independence from. Those shocks included LendingClub come-apart as the spark and increasingly interested looking pack of regulators coming to call. Marketplace lending, in short, did not need more fireworks. freedom of motion.

Lending 100

Lending National Marketing Online 100

PYMNTS

DECEMBER 12, 2019

In the lawsuit, filed in in the United States District Court for the District of Columbia, PayPal said the CFPB rule that requires disclosure for digital wallets and prepaid debit cards places “unreasonable restrictions” on consumers’ abilities to link certain credit products to PayPal accounts.

District of Columbia 138

District of Columbia Cards Regulation United States 138

Bank Innovation

OCTOBER 20, 2017

billion, Chinese peer-to-peer lender Qudian is now the largest Chinese company listed in the United States. It is also the fourth biggest IPO in the United States this year. Valued at $11.7

United States 150

United States Marketing Data Report 150

PYMNTS

NOVEMBER 13, 2018

To that end, news came earlier this week in the United States that a dozen community and regional banks have formed a group aimed at exploring the opportunities amid FinTech offerings. Here In The States. In the United States, sandboxes are grabbing a bit of headline space.

Community Bank 183

Community Bank Community Fintech Arizona 183

PYMNTS

SEPTEMBER 20, 2018

Peer-to-peer (P2P) lending in China is not for the faint of heart — and that’s putting it lightly. Swimming against that tide is China-based P2P lending provider X Financial. Banks offer credit limits to borrowers that would seem punitively low in much of the Western world, so there is a pent-up demand for online alternatives.

US 166

US Lending New York Cards 166

Abrigo

SEPTEMBER 20, 2023

Given the current economic climate in the United States, it is essential to understand the effect personal financial security has on 1 st -party fraud. Regulators will be expecting this as they examine institutions for FinCEN priority preparedness. The scam here is an inside job, making it inherently more elusive.

Fraud 195

Fraud Trends Cards Software 195

PYMNTS

DECEMBER 27, 2019

percent in the United States. He said the challenges came in the form of lending money, which became much more expensive to do after new regulations were put in place. percent or 1.8 That, he said, signaled an economy that is strong on consumer spending. Chase reached 8.7

United States 153

United States cryptocurrency Digital Banking Google 153

PYMNTS

DECEMBER 27, 2019

percent in the United States. He said the challenges came in the form of lending money, which became much more expensive to do after new regulations were put in place. percent or 1.8 That, he said, signaled an economy that is strong on consumer spending. Chase reached 8.7

United States 136

United States cryptocurrency Digital Banking Google 136

PYMNTS

JULY 20, 2017

Noreika notes that the initiative will be good for making the United States’ banking system more flexible and responsive. The OCC has been critiqued pretty heavily by state regulators since the proposal first surfaced a year ago.

Online 100

Online Regulation United States National 100

PYMNTS

FEBRUARY 23, 2018

As noted by Reuters , and, in an additional statement from Citigroup, the banking giant — which is the third-largest card lender in the United States in 2016, according to the Nilson Report — disclosed the extent of the impact: 1.75 million accounts have been affected and $335 million is being refunded to consumers.

Cards 109

Cards United States Regulation Taxes 109

PYMNTS

DECEMBER 8, 2020

A recent survey of the 20 largest United States financial institutions (FIs) found that 20 percent still force customers to complete onboarding by visiting bank branches or speaking on the phone, with full online sign-up not allowed. Capital Float On Using Video-Based KYC To Boost Onboarding, Satisfy Regulators.

Video 211

Video Report Meeting United States 211