Abrigo

DECEMBER 10, 2021

This update clarifies that banking regulators and FinCEN understand that no specific customer type automatically falls into a higher risk category. These updates are in the sections for Charities and Nonprofit Organizations , Independent Automated Teller Machine (ATM) Owners or Operators , and Politically Exposed Persons (PEPs).

Training 195

Training Regulation Policies ATM 195

PYMNTS

MARCH 12, 2019

The Australian Securities and Investments Commission (ASIC) is criticizing top Australian banks for what the regulator said is an inefficient process of reviewing internal systems that allowed the banks to charge excess fees to customers. The Royal Commission has referred two dozen cases for regulators, which could result in prosecution.

Regulation 108

Regulation National Resources Security 108

PYMNTS

AUGUST 22, 2019

Any addresses deemed to be associated with foreign narcotics operators are added to the Specially Designated Nationals (SDN). 21, it was discovered that three alleged narcotic operators associated with the SDN addresses were Chinese citizens: Xiaobing Yan, Fujing Zheng and Guanghua Zheng, according to the article.

United States 116

United States cryptocurrency US Bitcoin 116

Abrigo

NOVEMBER 18, 2019

Key Takeaways Cannabis-related businesses operate in high cash volumes, creating a public safety concern. CRBs operate with high levels of cash, with many of them currently cash-only businesses. The bill was received in the Senate in September and has been referred to the Committee on Banking, Housing, and Urban Affairs.

Regulation 150

Regulation Community National Operations 150

CFPB Monitor

MAY 19, 2022

Regulation Z requires both tips to be included in the finance charge, resulting in APRs on the loans made to Connecticut borrowers ranging from approximately 43% to over 4280%. The loan disclosures stated that the loans had 0% APRs.

Connecticut 78

Connecticut Operations Fintech Regulation 78

PYMNTS

DECEMBER 9, 2019

It’s a national imperative,” said Hundt, leader of the agency from 1993 to 1997, on “ Squawk on the Street.” The regulators felt that the merger could adversely impact wireless competition, and ultimately harm consumers. Building out 5G networks is imperative to the U.S., He added that there are two ways the U.S. He added that the U.S.

US 130

US Mobile Regulation Meeting 130

Insights on Business

MARCH 5, 2019

Reducing costs but appeasing regulators seems like an oxymoron, yet, many AML compliance and operations leaders are being asked to do just that. The question is, how to do this, while keeping the regulators happy? Even better, regulators have recently begun encouraging the application of these techniques.

Regulation 70

Regulation Compliance Analysis Innovation 70

Perficient

JUNE 5, 2020

Secure software practices are at the heart of all system development; doubly so for highly regulated industries such as health-care providers. This includes static application structure, dynamic application behavior, third-party component patch/version levels, and overall deployment environment compliance with hardened operating systems.

Compliance 332

Compliance Security Software System 332

PYMNTS

OCTOBER 1, 2018

Business lending in Australia probably won’t face tougher loan regulation when it comes to small business loans. But instead of making recommendations, the report pondered if better enforcement of the law, as well as a simplification of those regulations, would help enforce it more effectively.

Lending 135

Lending Regulation National Report 135

CFPB Monitor

MAY 31, 2022

On May 19, 2022, the Associate Director of the Enforcement and Compliance Division of the Financial Crimes Enforcement Network (“FinCEN”), Alessio Evangelista, spoke at the Chainalysis Links Conference in New York City on the topic of “The Intersection of Cryptocurrencies and National Security.” Responsible Innovation “.

cryptocurrency 146

cryptocurrency Innovation DC National 146

PYMNTS

DECEMBER 7, 2018

Not to ruin your holiday spirit, but let’s start this story with the cold and brutal truth: One of the largest risks that payments and commerce operators face in 2019 is being called to account by government officials, regulators or media about a failure to secure their organizations from cyberattacks. and other places.

Payments 240

Payments Tools Security Regulation 240

PYMNTS

MARCH 29, 2017

Due to new taxi laws in the country, Uber announced that it is shutting down its operation in Denmark next month. Currently, Uber is waiting on a court decision to find out how it will be regulated throughout Europe: as a transport service or a digital platform.

Regulation 100

Regulation Maine Operations National 100

CFPB Monitor

JANUARY 9, 2019

federal district court in October 2018 by the Conference of State Bank Supervisors (CSBS) to stop the OCC from issuing special purpose national bank (SPNB) charters to fintech companies. Nothing in the NBA identifies deposit-taking as an indispensable function for a national bank to be engaged in the “business of banking.”.

Fintech 60

Fintech Regulation New York National 60

PYMNTS

JUNE 11, 2018

Also in Australia, and apropos to small business lending, Prospa delayed issuing additional shares on the country’s stock exchange, in part due to pressure from financial services regulators in that country. community banks hailed some changes to the Dodd-Frank regulations, particularly in regard to how small to medium banks are treated.

Regulation 100

Regulation Community Bank Lending Industry 100

CFPB Monitor

APRIL 12, 2021

The rescission document notes that the rescinded statement recognized the impact of the COVID-19 pandemic on the operations of many financial institutions, including staffing and related resource challenges.

Policies 78

Policies Exercises Operations Regulation 78

Independent Banker

NOVEMBER 30, 2022

Clockwise from top left: Grand Ridge National Bank, Wheaton, Ill.; When a community bank’s employees refer to it as “a second family,” it speaks volumes, and that’s exactly what we heard from the team at Bank of Montana in Missoula, Mont. We don’t operate from a position of fear.”. He always refers to us as his coworkers.

Community Bank 169

Community Bank Community Montana Leadership 169

CFPB Monitor

NOVEMBER 29, 2021

Federal banking regulators have been busy in this space. Accordingly, “it is important that [the Agencies] provide coordinated and timely clarity where appropriate to promote safety and soundness, consumer protection, and compliance with applicable laws and regulations, including [AML] and illicit finance statute and rules.”

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

PYMNTS

AUGUST 14, 2019

The second was the rise of cryptocurrency (though during his remarks he tended to refer to it as Convertible Virtual Currency or CVC). When it came to technology, Blanco was specifically interested in – and concerned about – two main areas. The first is the rise of mobile gaming and gambling. “What you do saves lives.”

Compliance 163

Compliance Las Vegas Mobile Data 163

CFPB Monitor

NOVEMBER 24, 2020

The OCC notes that, in the case of energy industries, the terminated services were not limited to lending “where risk factors might justify not serving a particular client,” but also included advisory and other services unconnected to credit or operational risk. Comments on the proposal are due by January 4, 2021.

Operations 78

Operations Analysis Industry Policies 78

CFPB Monitor

DECEMBER 19, 2019

The OCC and FDIC have issued a joint proposal to revise their regulations implementing the Community Reinvestment Act (CRA). Although the Federal Reserve, OCC and FDIC, are the primary CRA regulators, the Fed did not join the proposal and presumably will issue a separate proposal.

FDIC 78

FDIC Regulation Community Retail 78

PYMNTS

AUGUST 8, 2017

regulators say late payments are jeopardizing the nation’s small- and medium-sized business community. ” Ultimate Finance also questioned regulators’ ability to effectively address this problem, noting that government intervention and regulation in this area is often divisive. small businesses.

Payments 108

Payments Community Regulation Data 108

CFPB Monitor

MAY 6, 2019

In doing so, the court found that the term “business of banking” as used in the National Bank Act (NBA) “unambiguously requires receiving deposits as an aspect of the business.”. The OCC also argued that the NYDFS’s claims were untimely because it can no longer challenge the OCC’s long-standing regulation (12 C.F.R.

Fintech 68

Fintech New York National Regulation 68

PYMNTS

NOVEMBER 2, 2020

Regulation. The Digital Services Act will be one of the regulations, which Vestager said will revise the eCommerce Directive and will make digital services take additional responsibility for contending with “illegal content and dangerous products.”. The Digital Markets Act is a second set of regulations. and Facebook Inc.

Taxes 212

Taxes National Regulation Google 212

PYMNTS

OCTOBER 2, 2019

As is germane to Switzerland, there’s been a bit of support from regulators here — verbal support anyway. As has been reported , Mark Branson, CEO of Swiss financial supervisor FINMA said that Libra poses fewer concerns than do cryptocurrencies that trade and crypto firms that operate with no supervision. “I

cryptocurrency 123

cryptocurrency Meeting Regulation Washington 123

PYMNTS

MARCH 21, 2019

Jeff Lenard, a spokesman for the National Association of Convenience Stores , told The Wall Street Journal that the “government should not be picking winners and losers,” and that the “FDA’s own data shows that 86 percent of students who used eCigarettes did not get them from stores — they came from online retailers or a social source.”.

Online 152

Online Retail Regulation Trends 152

PYMNTS

SEPTEMBER 17, 2019

Interest rates on pawn loans vary as they are regulated by states. Regulations require that pawnbrokers request proof of ownership before making a deal with a potential customer — but the less reputable players in the industry have a nasty habit of forgetting to ask. So what is driving the Pawnaissance?

Ohio 151

Ohio Lending Iowa South Dakota 151

PYMNTS

JULY 16, 2018

Officials with the European Union , using a process that limits the ability of national governments to alter proposed legislation , plans to propose legislation about the underpinning technology for connected cars in Europe. The debates about the standards and foundations of the emerging world of connected vehicles are playing out.

United States 130

United States Technology Guidelines Data 130

CFPB Monitor

SEPTEMBER 9, 2020

Ballard Spahr LLP has submitted a comment letter to the OCC in support of its proposed rule , “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”). Three virtually identical Federal Interest Statutes govern interest that may be charged by Banks: Section 85 of the National Bank Act (“NBA”), 12 U.S.C. §

FDIC 78

FDIC National South Dakota Lending 78

PYMNTS

APRIL 21, 2017

At the time, “future stuff” was widely thought to be a reference to augmented reality technology. But with the amount of time it takes to design a vehicle (even one that needs a human to drive it), the low margins and high regulation, a fully realized Apple Car is likely a long-term goal, if it even is a goal at all.

Apple 115

Apple California Software Technology 115

Abrigo

NOVEMBER 11, 2021

The June 2021 release of the Financial Crimes Enforcement Network ( FinCEN) Priorities makes this clear in naming cybercrime as one of the eight national anti-money laundering and countering the financing of terrorism (AML/CTF) priorities. Cyber-attacks, and ransomware specifically, are the most significant threats to U.S.

Fraud 195

Fraud cryptocurrency System Trends 195

Abrigo

NOVEMBER 11, 2021

The June 2021 release of the Financial Crimes Enforcement Network ( FinCEN) Priorities makes this clear in naming cybercrime as one of the eight national anti-money laundering and countering the financing of terrorism (AML/CTF) priorities. Cyber-attacks, and ransomware specifically, are the most significant threats to U.S.

Fraud 195

Fraud cryptocurrency System Trends 195

CFPB Monitor

JULY 8, 2019

The Bureau also references former Acting Director Mulvaney’s statement in May 2018 that the Bureau intended to reexamine the disparate impact doctrine in light of the U.S.

Lending 60

Lending Report Policies Compliance 60

PYMNTS

SEPTEMBER 29, 2017

Surely, various new outlets speculated, this latest move by Amazon would only spell certain doom and gloom for anyone not operating at the eCommerce giant’s scale. operations from 2010 to 2014, joined Drizly’s board of directors earlier this week. Bill Simon, who served as chief executive officer of Walmart’s U.S.

Retail 108

Retail Branding Georgia System 108

Abrigo

MARCH 11, 2021

Signed into law as part of the National Defense Authorization Act for 2021, the AML Act of 2020 (the Act), seeks to strengthen, modernize, and streamline the existing Bank Secrecy Act (BSA) requirements. This is a callout from the article about regulation, products or important fact.". BSA Rules and Regulation. Keep me informed.

Training 195

Training Regulation Video Fraud 195

CFPB Monitor

FEBRUARY 23, 2015

The Exchequer Club’s members include senior professionals from trade associations, federal regulatory agencies, law firms, congressional committees and national press.). He indicated that in certain instances, where there are “more significant violations,” the CFPB refers matters to its action review committee.

Policies 60

Policies Leadership Regulation Marketing 60

Banking 2020

NOVEMBER 17, 2014

That refers to the perfect storm that drenched the entire system faced in 2008, and the occasional downpours specific institutions have faced since then. regulators have already put in place similar strictures for the eight largest (you might say systemically important) banks. More to the point, U.S. Even the U.S.

System 70

System Taxes Course Regulation 70

BankUnderground

NOVEMBER 11, 2020

Information obtained from the Bank of England Archive (BOEA) and the National Archives (TNA) reveals how Norman circumvented potential opposition in order to reshape management of the Bank. To replace the control over loan issues which had operated in time of war he persuaded the principal brokers to manage the flow of new loan issues.

Policies 94

Policies Management Meeting National 94