CFPB Monitor

APRIL 12, 2021

The CFPB issued a Rescission of Statement of Policy for the previously-issued Statement on Bureau Supervisory and Enforcement Response to COVID-19 Pandemic (March 26, 2020). Rescission of Statement on Bureau Supervisory and Enforcement Response to COVID-19 Pandemic.

Policies 78

Policies Exercises Operations Regulation 78

PYMNTS

AUGUST 30, 2018

China is struggling to bridge its small businesses to financing for growth, with broader fiscal policy at odds with the initiative, according to reports. The publication pointed to the government’s conflicting policy of stricter lending rules as one reason why efforts to boost small business loan volumes hasn’t taken off.

Policies 100

Policies Lending Regulation Community 100

PYMNTS

MARCH 3, 2020

In today’s top news, Apple manufacturer and supplier Foxconn has returned to production, the Department of Justice charged two Chinese nationals with laundering over $100 million in cryptocurrency, and TurboTax’s deal to buy Credit Karma has sparked antitrust concerns. Two Chinese Nationals Charged With Laundering $100M In Crypto.

Apple 132

Apple National cryptocurrency Payments 132

South State Correspondent

FEBRUARY 18, 2024

We recently reviewed a loan term sheet from a national bank for a $13mm commercial real estate (CRE) loan. This particular national bank has the ability to offer the borrower an interest rate hedge or an on-balance sheet fixed-rate loan. The loan leverage ratio is 10.83 (total debt divided by net operating income (NOI)).

Management 195

Management National Guidelines Capital 195

PYMNTS

MARCH 9, 2020

A French hospital, in one case, noted that nearly 2,000 surgical masks were removed from its main operating room, while a trauma doctor reportedly took 12 boxes of masks from a storage room at a hospital in Spain. All of the nation’s schools were previously shuttered until mid-March. Grant Shapps, U.K.

Policies 141

Policies New York San Francisco Seattle 141

PYMNTS

DECEMBER 4, 2020

The proof-of-concept was run in partnership with BIS’ Innovation Hub Swiss Centre, the Swiss National Bank and financial infrastructure operator SIX, according to the announcement. It offers potential advantages but faces “major” policy hurdles, according to the announcement.

cryptocurrency 152

cryptocurrency Bitcoin National US 152

ABA Community Banking

MARCH 24, 2021

On the latest episode of the ABA Banking Journal Podcast, ABA Senior Counsel Shaun Kern discusses the OCC's recent proposal to revise its rules on permissible bank premises for national banks and federal thrifts, as well as ABA's call for the agency to withdraw the proposal.

Operations 69

Operations National Branch Design Customer Experience 69

Perficient

JUNE 5, 2020

This includes static application structure, dynamic application behavior, third-party component patch/version levels, and overall deployment environment compliance with hardened operating systems. Operational Security. Secrets are necessary for the operation of all modern software systems. Third Party Component.

Compliance 332

Compliance Security Software System 332

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.

Payments 344

Payments Policies Guidelines National 344

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.

National 160

National Policies Mobile Payments 160

PYMNTS

MARCH 2, 2020

Lloyd’s of London , the insurance firm, is supporting a new policy that protects digital currency held in digital wallets from hackers, Coindesk reported on Monday (March 2). The policy is reportedly a new insurance type that has a limit that changes with the price fluctuations of covered digital currency assets.

Bitcoin 177

Bitcoin Policies Groups California 177

PYMNTS

MARCH 20, 2020

The vice president of policy and legal affairs at DJI, Brendan Schulman, said the Federal Aviation Administration should “readily grant waivers on restrictions that might impede beneficial operations.” . There are many use cases for drones that can aid the nation,” said Lisa Ellman, the group’s executive director.

California 315

California Apple Policies National 315

PYMNTS

JULY 15, 2020

“While we’re certainly not the first business to require face coverings, we know this is a simple step everyone can take for their safety and the safety of others in our facilities,” said Walmart’s Chief Operating Officer Dacona Smith and Lance de la Rosa, chief operating officer at Sam’s Club, in a statement.

Virginia 141

Virginia Policies Community National 141

PYMNTS

JULY 11, 2016

Those numbers will naturally fluctuate as the mobile wallet gets its chance to shine on the national stage, but experts have already begun to poke holes in the story they tell, if only because of Walmart’s insistence on Walmart Pay operating as its one and only mobile payment method going forward. ” Mathews told RetailWire.

National 100

National Retail Mobile Apple 100

PYMNTS

NOVEMBER 22, 2019

lawmakers who want information about hosts who go against the company’s policies and don’t comply with local laws. Misleading as well as deceptive listings have also led to customers swindled by “hosts” who take advantage of the cancellation policies of Airbnb per the letter. Airbnb is facing questions from U.S.

US 108

US Illinois Policies Regulation 108

PYMNTS

SEPTEMBER 30, 2020

House committee this week began reviewing the idea of allowing the likes of Amazon or Facebook to receive charters to operate as banks — an idea that’s already gotten plenty of pushback from traditional financial institutions (FIs). However, the banking industry doesn’t like that one bit. “We

Regulation 349

Regulation National System Industry 349

PYMNTS

JULY 7, 2020

The letter, from RILA President Brian Dodge , was addressed to National Governor’s Association Chair Lawrence Hogan (MD) and Vice Chair Andrew Cuomo (NY), asking them to push for specific and consistent mask mandates. RILA has finally had enough of the trend, and asked two governors for help in a letter released on Tuesday morning (July 7).

Retail 151

Retail Groups social media Policies 151

PYMNTS

NOVEMBER 2, 2020

The ministry’s AML and CFT policies incorporate the suggested policies set by the Financial Action Task Force (FATF) and will be monitored by the Caribbean Financial Action Task Force (CFATF). During phase one, VASPs will have to demonstrate their compliance with these standards, according to the release.

Bitcoin 160

Bitcoin Policies Groups cryptocurrency 160

PYMNTS

OCTOBER 8, 2020

one of the biggest payments processors in the world, one of the top 3 banks in Brazil, one of the big four banks in Australia, the largest national card processor in Europe, and several others),” according to the release. The deals sometimes concerned big players, including “some of the largest and most innovative companies in the world (e.g.

Report 247

Report Fraud Risk Management America 247

PYMNTS

DECEMBER 28, 2020

In Los Angeles, a widespread glut of shipments has slowed down operations at the nation's busiest container port complex, the Port of Los Angeles , according to CNBC. Exports have declined in 23 of the last 25 months, which CNBC credited partly to trade policies with China. 28) on CNBC, said the cargo volume is up 50 percent.

Los Angeles 206

Los Angeles Policies National Retail 206

PYMNTS

JULY 31, 2019

As watchdogs ramp up oversight of financial institutions and FinTechs, late last year the China Banking and Insurance Regulatory Commission also announced plans to relax restrictions on foreign ownership of banks operating in the country.

Lending 134

Lending Policies National Guidelines 134

PYMNTS

MARCH 11, 2020

Businesses are putting into place paid leave for staff who are under quarantine or reconsidering their sick time policies for hourly workers, CNBC reported. Walmart , in one case, has implemented a policy for emergency leave on the heels of a store associate in Kentucky having a positive result for the virus.

Apple 153

Apple Policies Kentucky National 153

PYMNTS

MARCH 22, 2019

Agustin Carstens, the general manager at the Bank for International Settlements , said that banks shouldn’t issue their own bitcoin-like tokens because it could undermine global financial stability, as well as monetary policy, according to a report by Bloomberg. Central banks do not put a brake on innovations just for the sake of it.

Bitcoin 172

Bitcoin cryptocurrency United States Policies 172

PYMNTS

OCTOBER 21, 2020

The pandemic has shifted priorities in regulatory policy tied to the financial services industry — and for Europe, it is heralding the emergence of a data-driven economy. Maniati noted the transformation had been in place well before COVID and has stretched back over five years, but has seen some urgency in recent months.

Data 317

Data Regulation National Examples 317

Abrigo

AUGUST 20, 2021

Transnational Organized Crime Reaches Far and Is Growing One of FinCEN's first priorities for AML/CFT policy is to combat transnational organized crime (TOC). The FBI explains TOC groups are “self-perpetuating associations of individuals who operate, wholly or in part, by illegal means and irrespective of geography.”

Training 195

Training Strategy Fraud National 195

PYMNTS

JULY 8, 2020

The British government previously implemented a £160 billion package that included a £49 billion bump in funding for operations including the country’s National Health Service and packages of grants and loans for businesses. In the U.S.,

Taxes 141

Taxes National Policies Operations 141

Abrigo

SEPTEMBER 16, 2019

Dunkleberg is the former dean of Temple’s School of Business and Management and has served as the Chief Economist for the National Federation of Independent Business since 1971. These insights have the potential to inform the market and policy makers on the overall health of the economy, opportunities, and risk.”. Learn More.

Community Bank 150

Community Bank Community Policies Survey 150

PYMNTS

JULY 5, 2019

Some are worried that the fact that Libra could be tied to several national currencies means that Facebook is trying to avoid being under control from any particular country. . They also talked about how Libra could operate as a brand new global currency. “It monetary policy and the dollar.

Regulation 102

Regulation cryptocurrency United States Policies 102

PYMNTS

FEBRUARY 24, 2020

Financial institutions (FIs) and merchants from other regions have been dipping their toes into the Chinese market, but open banking has compounded the difficulty involved in setting up operations. The country’s government and regulators are keeping pace with those in the European Union and the U.S. The law is still ambiguous.

Regulation 160

Regulation Policies Data Compliance 160

PYMNTS

NOVEMBER 29, 2019

As a result, Hodges noted, insurance policies can be mispriced or might be less than ideally tailored for these firms. The policies are backstopped by Munich Re , which is among the largest re-insurers in the world. Many founders are operating their businesses, from day one, with the ambition of entering an international setting.

Policies 191

Policies California United States Management 191

Abrigo

FEBRUARY 6, 2020

foreign policy and national security goals to secure the global financial system and protect the United States from the threats of terrorism, human and drug trafficking, and economic damages. OFAC restated its crucial role in furthering U.S. What does a “maximum pressure strategy” entail? What does a “maximum pressure strategy” entail?

United States 195

United States Compliance Strategy National 195

PYMNTS

MAY 8, 2020

The company also notes that open product is now for “display only” and customers will find signage in the retail locations emphasizing the new policy. The Retail Industry Leaders Association , along with the National Retail Federation (NRF), recently rolled out a phased-in approach to reopening retail called the Blueprint for Shopping Safe.

Retail 173

Retail National United States Groups 173

Abrigo

DECEMBER 10, 2021

None of the changes represent new information but rather address specific customers that may need more attention within policies, procedures, and processes due to a higher risk for money laundering, terrorist financing, and other illicit activity. Each customer category has long been named in the exam manual as having elevated risk.

Training 195

Training Regulation Policies ATM 195

PYMNTS

APRIL 17, 2018

According to Reuters , the attack was launched on computer routers, firewalls and other networking equipment used by government agencies, companies and critical infrastructure operators globally. and British officials warned that infected routers could be used to launch future offensive cyber operations.

US 116

US Cyber Security United States National 116

PYMNTS

MARCH 19, 2020

The coronavirus could lead to tens of millions of unemployed workers and could change how businesses operate. Its estimates occur as the coronavirus outbreak has made nations limit citizen movements and make sure that lockdowns are followed in some instances. The International Labour Organization (ILO) said as many as 24.7

Taxes 130

Taxes National Retail Report 130

PYMNTS

FEBRUARY 14, 2020

In perhaps the most sweeping example, the member states of the United Nations have embraced, as part of “sustainable development goals,” a target to “provide legal identity for all, including birth registration,” by 2030. s policy represents “the right goal to set. An ambitious goal, to be sure, and one that the U.N. The Micro Level.

How To 205

How To National Fraud Data 205

PYMNTS

JANUARY 19, 2020

Insurance policies that would replace traditional cash up-front deposits are an alternative being considered by both industry and government figures. As other changes attract investors to disrupting current rental business models, industry source Apartment List cites rents increasing 36% nationally throughout the 2010s.

Security 139

Security New Hampshire Alabama Connecticut 139