PYMNTS

DECEMBER 7, 2020

UK Regulations to Create New Digital Markets Unit. antitrust regulators are creating a Digital Markets Unit that will be given the duty to enforce rules applicable to Big Tech firms. That new division will fall under the country’s Competition and Markets Authority (CMA). Apple Faces $12M Fine Over iPhone Marketing.

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Apple Regulation Taxes Marketing 143

PYMNTS

DECEMBER 16, 2019

government affairs and public policy, said in a letter to the Fed that Google “worked closely” with the National Payments Corporation of India (NPCI) to build Google Pay for the Indian market. NPCI, the payment regulator governed by the Reserve Bank of India (RBI), launched real-time payments in 2016. billion now.

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Google System Payments Study 144

PYMNTS

JANUARY 7, 2019

In Ireland, reported CryptoGlobe , the Irish cabinet has approved legislation that will bring more regulation to the sector. Separately, in India, the action toward crypto regulation seems to be … inaction. Frankly, recent market movements have not given us any reason to be concerned,” she said. In the U.S.,

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PYMNTS

SEPTEMBER 30, 2020

The House committee held a hearing on the idea after Acting Comptroller of the Currency Brian Brooks in July proposed a new special purpose national banking charter for payments companies. A lack of safety and soundness rules will expose the financial system to significant vulnerabilities.”.

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Regulation National System Industry 349

PYMNTS

FEBRUARY 16, 2017

According to Bloomberg , the Monetary Authority of Singapore published a new consultation paper that revealed new and existing venture capitalists will no longer be subject to the same rules that apply to fund managers overall, including capital requirements and business conduct regulations.

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Regulation Capital Fintech Innovation 183

PYMNTS

AUGUST 14, 2019

The National Payments Corp. We have received the data localization compliance system audit report from WhatsApp, which shall be reviewed in the next few weeks,” a Mumbai-based representative for NCPI said, according to Bloomberg. of India is reviewing an audit report to ensure WhatsApp complies with local rules. “We

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PYMNTS

NOVEMBER 17, 2020

Many of the biggest points of friction that emerged in the spring could be solved through technology, according to Anne Miller , executive director at Project N95 , a new nonprofit described as the "National Critical Equipment Clearinghouse.". According to Miller, there are three categories of buyers in the PPE market. once again.

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Marketing Meeting Fraud National 235

Abrigo

AUGUST 6, 2019

The Financial Crimes Enforcement Network (FinCEN) is tasked with protecting the financial system both within the United States and internationally. Blanco discussed the organization’s active approach toward addressing the top financial threats to our financial system, our national security, and our communities and families.

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System Las Vegas San Antonio San Diego 264

PYMNTS

DECEMBER 10, 2018

And as reported by sites such as American Banker and National Law Review , a bipartisan group of senators is working on a bill that may reform the Bank Secrecy Act, which in turn may raise the threshold for reporting currency transaction reports to $30,000, from the current levels of $10,000.

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Regulation Fintech FDIC National 172

South State Correspondent

APRIL 30, 2024

Meet Competitive Pressures : National and larger regional banks are specifically targeting better borrowers for five, seven, ten-year fixed-rate loans. We witness over and over how some banks get themselves in deeper trouble booking derivatives on their books that are bets on market interest rate movements.

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Community Bank FDIC Community National 195

South State Correspondent

APRIL 30, 2024

Meet Competitive Pressures : National and larger regional banks are specifically targeting better borrowers for five, seven, ten-year fixed-rate loans. We witness over and over how some banks get themselves in deeper trouble booking derivatives on their books that are bets on market interest rate movements.

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Community Bank FDIC Community National 195

CFPB Monitor

JULY 27, 2020

The OCC issued a letter last week stating that “a national bank [and a federal savings association] may provide. The letter states: Consistent with OCC regulations and guidance on custody activities, the risks associated with an individual account should be addressed prior to acceptance. The letter states that the OCC.

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National cryptocurrency Risk Management Regulation 113

Abrigo

FEBRUARY 6, 2024

Perform satisfactory appraisal reviews with appropriate assumptions, methodology, and market comparisons. Geographic risks: If loans outside the credit union's market area aren't restricted, draft policies outlining criteria for granting them. Confirm the signing authority of corporate officials representing the entity.

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Lending How To Risk Management Policies 221

PYMNTS

APRIL 20, 2020

Two law researchers say regulators should take the cryptomarket into serious consideration, according to an Oxford Law blog post. And they noted that many studies find a weak correlation or no correlation between the cryptomarket and the stock market. As a result, investors might find a safe haven in them.

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blockchain Marketing Bitcoin Policies 151

CFPB Monitor

SEPTEMBER 22, 2022

The public comment period for the notice of proposed rulemaking (“NPRM”) regarding the Motor Vehicle Dealers Trade Regulation Rule (the “Rule”) closed on September 15, 2022 after the FTC declined in August to extend it. The comments from AFSA, CBA, and NADA were among the close to 27,000 comments on the proposed Rule received by the FTC.

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Regulation Groups Customer Experience Retail 148

Cisco

JULY 12, 2022

As a key provider of technology for mission-critical financial system infrastructures across the globe, Cisco is held to the highest levels of scrutiny in the financial services regulatory audit chain. These systems are continually being updated with newer and better ones; however, it takes a long time to sunset the legacy technology.

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Regulation FDIC System Software 71

PYMNTS

FEBRUARY 27, 2017

Guo Shuqing, the former head stock market regulator in China, has been appointed as chairman of the China Banking Regulatory Commission, replacing Shang Fulin, who was forced to retire after reaching the mandatory retirement age of 65. He arrived at the China Banking Regulatory Commission on Friday (Feb.

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System New York Maine Regulation 100

Abrigo

JUNE 27, 2023

Key Takeaways Real estate markets are vulnerable to money laundering and fraud because of their transaction size and appreciation over time. Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases. Why real estate? In 2017, over 5.51

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El Paso Miami United States New York City 195

PYMNTS

SEPTEMBER 23, 2020

Plus, the State Administration for Market Regulation in China has fined Luckin Coffee and other firms. The idea of a digital token has been touted by a number of nations and firms lately. Chinese Regulator Fines Luckin, 43 Other Companies In Fraud Case. The regulator said on Tuesday (Sept.

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Cards Google Regulation cryptocurrency 214

PYMNTS

JULY 16, 2018

New rules may loom for technology providers pertaining to privacy — on a national level. In another nod toward privacy, Microsoft wants to see government regulation of facial recognition technology. the European Banking Authority (EBA) cited failings that are “systemic” in nature in Malta. Looking beyond the U.S.,

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National California Regulation United States 100

PYMNTS

SEPTEMBER 4, 2018

s request for the European Union to expand its financial market access after Brexit isn’t going to be met in the near future. Reuters , citing Levin Holle, director general of financial markets policy in Germany’s finance ministry, reported that request won’t be met any time soon. It’s a system that banks in the U.S.,

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Marketing Regulation Policies US 100

Abrigo

FEBRUARY 9, 2024

real estate market alone. residential real estate market to launder and hide the proceeds of serious crimes with anonymity, while law-abiding Americans bear the cost of inflated housing prices,” said FinCEN Director Andrea Gacki of the N PRM. WATCH NOW Takeaway 1 Real estate money laundering is a serious issue , with a n estimated $2.3

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Training Fraud Trends Report 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.

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Regulation United States Community Bank National 122

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.

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Mobile Report America Regulation 229

PYMNTS

AUGUST 9, 2018

10), but will now have the additional time to continue to shape rules pertaining to the internet as the market in India takes off. Sharma previously served as the first director general of Unique Identification Authority of India, a government body in charge of India’s national identity card system, which is based on biometrics.

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Regulation social media Apple Mobile 100

PYMNTS

SEPTEMBER 1, 2020

What might replace a clunky system in a world where payments are becoming ever more global? The BIS found that decline is even more pronounced in emerging-market economies and smaller island nations. The gateway enables payments to be processed via connection to the country’s central clearing system.

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blockchain System National Payments 307

PYMNTS

FEBRUARY 19, 2019

Senator Elizabeth Warren (D-MA) recently sent a letter to Powell raising this concern, noting that the Fed’s “anemic scrutiny of applications for mergers and acquisitions [M&A] raises concerns that [it] may oversee a wave of bank consolidation to the detriment of consumers and the financial system.”

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Marketing Community Community Bank Industry 108

PYMNTS

JULY 26, 2016

For others, however, entire national economies can be affected. According to the UN Conference on Trade and Development (UNCTAD), that’s exactly what’s happening in some developing nations, in which invoice errors across Africa and South America are leading to the loss of up to two-thirds of commodity export value. .

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National Taxes Data Report 100

PYMNTS

MAY 22, 2020

Treasury’s difficulties getting relief money to individuals, has renewed calls for the government to accelerate its FedNow national real-time payments network, still not expected to be operational until at least 2023. The Paycheck Protection Program (PPP) disbursement fiasco, coupled with the U.S. The Fed’s Failure. Problem No.

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Payments Policies Guidelines National 344

PYMNTS

JUNE 29, 2020

Valdis Dombrovskis , the EU’s executive vice president of the European Commission for an Economy that Works for People, told attendees of the Digital Finance Outreach 2020 , a series of events for the 27-nation bloc on financial technology companies, that Europe must become the leader in crafting rules for digital finance.

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cryptocurrency Regulation Bitcoin Maine 221

Chris Skinner

MAY 1, 2017

Back in December, I picked up on this new Office of the Comptroller of the Currency (OCC) Ruling to issue national FinTech bank charters. This would enable a FinTech to go through ONE regulator to get to market, rather than the 200 or more they would have go through today.

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America Fintech National Regulation 211

PYMNTS

MAY 20, 2020

The 27 EU member states have their own financial systems, and many have also implemented their own domestic real-time payments rails. This is just one of the cross-border payments frictions that led to the TARGET Instant Payment Settlement (TIPS) system. Official guidelines and regulations can only go so far, however.

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Payments Guidelines Regional Strategy 210

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.

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Regulation America Compliance Fraud 52

PYMNTS

NOVEMBER 23, 2020

The Office of the Comptroller of the Currency ( OCC ) has proposed personal banking regulations intended to level the playing field. . The proposal would systemize over 10 years of OCC guidance, asking banks to extend services based on individual risk assessment instead of category-based assessment. “The

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Study Survey Regulation System 170

PYMNTS

JULY 11, 2019

“This is a direct response to the Powell testimony and comments on Facebook’s Libra and the implications that could have for the entire cryptocurrency space,” said Craig Erlam, senior market analyst at FX trading platform OANDA. Libra also caught the attention of The BoE, the U.K.

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Bitcoin cryptocurrency Regulation System 173

PYMNTS

OCTOBER 5, 2020

Regulation. By providing a national servicing platform, the charter would enable those kinds of companies to bypass the process by which they have to collect money transmitter licenses from states. Data Activist: Big Tech Not Following Transatlantic Data Transfer Regulations. antitrust regulation. Last week, a U.S.

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Data Google Compliance Apple 229

PYMNTS

APRIL 6, 2020

Based on information from six nations, with the inclusion of the U.K., regulators in Europe said on Monday (April 6) that Mastercard ’s plans to purchase a portion of Nets presents a sizable risk to competition on the continent. The European Commission said it had agreed to a request from the U.K.,

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National Regional System Regulation 140