PYMNTS

MAY 6, 2019

The news came Thursday (May 2) that, per a ruling in federal court in New York, the State Department of Financial Services can move forward with a suit that looks to derail national bank charters for FinTech companies. The national licenses would let FinTechs lend money and paychecks to consumers.

National 165

National Fintech New York Exercises 165

CFPB Monitor

DECEMBER 6, 2022

Earlier this year, New York delayed the effective date of its new law requiring card issuers to provide a grace period for using credit card rewards points that was slated to be effective later this week. The delay means that the effective date of the new law is now December 10, 2023.

New York 78

New York Cards National Compliance 78

PYMNTS

MAY 3, 2019

Regulators from New York got the nod from a judge to move forward with their lawsuit aimed at stopping FinTechs from offering banking services on a national level. Regulators in New York want to prevent federal government agencies from granting FinTechs national licenses enabling them to loan and send money like a bank.

Fintech 156

Fintech New York National Regulation 156

CFPB Monitor

JULY 1, 2021

First, they represent the first effort by a state regulator to pursue the dealer finance charge issue against an assignee of retail installment contracts that we are aware of. For readers who followed the CFPB’s efforts in this area, the allegations in these consent orders will be very familiar.

New York 78

New York Retail Lending Analytics 78

PYMNTS

JULY 24, 2018

New York’s years-long payroll card regulation saga took an unexpected turn recently when the New York State Supreme Court annulled a previous appellate court ruling, reviving efforts to introduce stricter payroll card rules. New York isn’t the only state in the midst of payroll card regulation debates.

Regulation 101

Regulation Cards New York Alabama 101

Perficient

AUGUST 16, 2023

Heartland Tri-State began operations in 1985 under the name First National Bank of Elkhart. In 2011, Hanes put together a local investment group that purchased the bank from its former holding company, and he became President and CEO of the new bank. In 2019, it expanded by buying its fourth branch from a competitor.

United States 221

United States Kansas FDIC Risk Management 221

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

Payments Source

AUGUST 4, 2019

Under the regulation, banks and financial services providers must secure their own systems as well as implement third-party risk management programs, which can mitigate insider threats from third parties, says Michael Magrath, director of global regulations and standards for OneSpan.

New York 67

New York National Capital Risk Management 67

CFPB Monitor

OCTOBER 25, 2022

Following up on a threat it made back in 2018 , the New York State Department of Financial Services (DFS) announced on October 6, 2022 that it entered into a consent order with Rhinebeck Bank (“Rhinebeck”) to settle discrimination claims involving discretionary dealer markups on retail installment contracts with minority borrowers.

New York 78

New York Lending Community Bank Community 78

PYMNTS

JANUARY 29, 2020

The National Institute for Smart Governance (NISG) in India has published a report recommending that laws around blockchain should be based on what the technology does, and not the technology itself, according to a report Tuesday (Jan. said that national policy might not be enough in terms of crypto regulation. . “We

Bitcoin 132

Bitcoin Regulation blockchain Delaware 132

American Banker

DECEMBER 20, 2019

Industrial Bank CEO Doyle Mitchell has spent countless hours in New York since his bank bought the failed City National in November, meeting with existing customers and plotting his growth plans.

New York 59

New York Industry Meeting National 59

CFPB Monitor

MARCH 26, 2020

In response to New York Governor Cuomo’s Executive Order 202.9 issued on March 21 , the New York Department of Financial Services (DFS) has adopted new regulations to provide emergency relief to individuals who can demonstrate financial hardship as a result of COVID-19.

Regulation 88

Regulation ATM New York Cards 88

PYMNTS

SEPTEMBER 14, 2018

To challenge the Office of the Comptroller of the Currency (OCC)’s decision to allow online payment companies and lenders to have national bank charters, the top banking regulator in New York is suing the federal government. A bill signed by Governor Andrew M.

New York 173

New York Fintech Lending Regulation 173

CFPB Monitor

APRIL 8, 2019

On April 1, 2019, New York enacted Article 14-A, governing servicers of student loans owed by New York residents, in connection with New York’s fiscal year 2020 budget. Servicers of federal student loans are automatically deemed as licensed under the new law to service federal loans.

New York 68

New York Report Payments National 68

PYMNTS

JANUARY 18, 2017

The National ATM Council (NAC) argued in testimony to the Committee on Consumer Affairs of the New York City Council last week that a proposed ordinance would impose costly and burdensome new security regulations on ATM operators all around the city. said Renard in the same press release.

ATM 100

ATM National New York City New York 100

FICO

NOVEMBER 1, 2016

Look no further than the US presidential debates , where our two candidates have highlighted the need to address hackers, security breaches and even foreign nations that may be using sophisticated cyber tactics to influence the outcome of the upcoming November elections.

New York 40

New York Regulation Policies National 40

PYMNTS

JULY 21, 2019

The long-running proposed $26 billion T-Mobile-Sprint merger is close to getting a go-ahead from federal regulators. . state attorneys general filed a lawsuit in federal court i n New York to block the merger, arguing that the proposed $26 billion deal would cost consumers more than $4.5 In June, a group of U.S.

Mobile 148

Mobile Regulation New York National 148

CFPB Monitor

JULY 29, 2022

On July 20, 2022, the Federal Trade Commission (“FTC”) and 18 state attorneys general led by New York Attorney General Letitia James announced that they have entered into a settlement with Harris Originals of NY, Inc. District Court for the Eastern District of New York, Harris Jewelry will issue approximately $10.9

National 78

National Retail Regulation New York 78

Perficient

FEBRUARY 16, 2022

Over the last 90 days, we have let clients know about the federal banking regulators planned cryptocurrency road map , explained what steps national banks need to take to begin crypto activities , provided thoughts on the possibility of a U.S.

New York 294

New York cryptocurrency Security FDIC 294

Abrigo

JUNE 27, 2023

Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases. The real estate market is enticing to more than just new homeowners or investors. million existing homes and 612,000 new construction homes were sold. In 2017, over 5.51

El Paso 195

El Paso Miami United States New York City 195

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

PYMNTS

OCTOBER 12, 2020

In today’s top payments news around the world, China’s central bank is issuing $1.5 watchdog proposed that the nation considers creating a new regulatory unit. Plus, European Union (EU) regulators are drawing a list of large internet companies to be targeted with more stringent regulations.

Regulation 134

Regulation Payments National New York 134

CFPB Monitor

FEBRUARY 16, 2022

Around the nation, regulators are preparing to implement and enforce new consumer-like disclosure laws for small business commercial finance providers. New York regulators have yet to issue final regulations implementing the state’s Commercial Finance Disclosure Law (CFDL), which went into effect on January 1, 2022.

North Carolina 78

North Carolina Missouri Maryland Mississippi 78

PYMNTS

JANUARY 4, 2019

A New York State politician announced the creation of what he called the nation’s first cryptocurrency task force, to “study how to properly regulate, define and use” the currency, according to a Facebook post and reports.

cryptocurrency 163

cryptocurrency New York New York City Study 163

PYMNTS

MAY 19, 2019

New York’s Department of Financial Services seized Municipal Credit Union , New York’s oldest credit union, on Friday (May 17), saying it is facing “unsafe and unsound” conditions. million worth of New York State Lottery tickets with the money he embezzled.

New York 181

New York Security Customer Experience Innovation 181

PYMNTS

NOVEMBER 23, 2017

Ride-hailing app company Uber, which made news when it covered up a huge data breach that exposed roughly 600,000 driver’s license numbers, could face investigations by regulators around the globe. 22), regulators in the U.K., s National Cyber Security Centre to determine how large the breach was and how many people in the U.K.

Regulation 100

Regulation Cyber Security Connecticut Illinois 100

PYMNTS

JANUARY 15, 2019

Malaysia’s initial coin offering (ICO) regulations are said to take effect on Tuesday (January 15) per a notice from the Securities Commission (SC) in the country, Coindesk reported. At the same time, it was said that those who engage in digital asset dealing will have to follow rules for anti-money laundering (AML), among other regulations.

Bitcoin 108

Bitcoin Regulation New York Video 108

PYMNTS

JANUARY 12, 2021

Checkout.com, which was started in 2012, recently brought an office to New York City. The system was created over years through an effort involving the Bill & Melinda Gates Foundation and the State Bank of Pakistan, with help from the United Nations, the U.K. Pakistan Launches Payment System To Boost Financial Inclusion.

Detroit 135

Detroit New York City System Payments 135

PYMNTS

SEPTEMBER 18, 2018

The nation is forming a Direct FAST industry group, where the members will include traditional financial institutions (FIs), FinTech firms and the Monetary Authority of Singapore (MAS). While In New York, New York…. They have to provide two-way payments between eWallets and bank accounts.”. In The Middle East.

Fintech 166

Fintech New York US National 166

American Banker

SEPTEMBER 13, 2016

New York Gov. Andrew Cuomo on Tuesday announced the proposal of a state regulation requiring banks to develop and maintain a cybersecurity program. The plan, the first of its kind in the nation, could have far-reaching effects on some of the nation's largest banks.

New York 28

New York National Regulation Cyber Security 28

CFPB Monitor

OCTOBER 2, 2020

Capital One Funding, LLC , the federal district court for the Eastern District of New York joined the federal district court for the Western District of New York in Petersen v. Cohen and Peterson both involved the securitization of credit card receivables generated on credit card accounts issued by a national bank.

Cards 78

Cards New York National Exercises 78

PYMNTS

NOVEMBER 9, 2017

Small banks do not want to compete with the Amazons and Walmarts of the world when it comes to offering financial services for clients — and as of today, they more or less are protected from having to do so by regulations that prevent banks’ holding companies from branching too far outside of core financial services businesses.

Regulation 100

Regulation Retail New York Apple 100

PYMNTS

JANUARY 28, 2019

As noted in this space by Karen Webster, the ban on the ban – where, now, in New York, surcharges are allowed when merchants post total prices for transactions – shows the inefficiencies of regulation that supersede card networks’ own rules governing merchant activities. Maybe, maybe not. As Webster recounted Monday (Jan.

Cards 125

Cards New York Oklahoma Connecticut 125

PYMNTS

JUNE 10, 2020

The EU’s investigative unit will form a task force to examine TikTok’s activities across the 27-nation bloc following a request from a lawmaker concerned about its data collection and its security and privacy risks. EU authorities can fine companies for violations under the General Data Protection Regulation (GDPR).

Policies 253

Policies Data social media Video 253

PYMNTS

JULY 17, 2018

In one case at the state level (and it’s New York, so movement there carries much weight within the financial arena), Bloomberg reported that NY’s financial regulator is challenging what the newswire terms a “fundamental principle” on bank and FinTech relationships that brings interest rate caps into that regulator’s crosshairs.

Fintech 100

Fintech Regulation New York Management 100

PYMNTS

SEPTEMBER 21, 2020

BuzzFeed said the thousands of suspicious activity reports, authored by lenders and shared with the government, offer a glimpse into global corruption enabled by banks and allowed to flourish by regulators. Think of the message you're sending to repeat offenders.”.

Report 279

Report North Carolina United States New York 279

CFPB Monitor

JULY 29, 2020

The New York Department of Financial Services (DFS) has filed its opening brief with the Second Circuit in the OCC’s appeal from the district court’s final judgment in DFS’s lawsuit challenging the OCC’s issuance of special purpose national bank (SPNB) charters to non-depository fintech companies. .

Fintech 88

Fintech New York Regulation National 88