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 4010 – Temporary Hiring Flexibility.

Regulation 122

Regulation United States Community Bank National 122

PYMNTS

AUGUST 29, 2017

federal and state laws require financial institutions to set policies and procedures to detect and prevent illicit money transfers, including screening customers and reporting suspicious transactions to regulators. courts and that there will be no “material impact on HBL’s business outside of the United States.”

New York 102

New York Regulation Compliance United States 102

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. Standard Chartered moved cash for a Dubai business that was later accused of laundering cash on behalf of the Taliban.

Report 279

Report North Carolina United States New York 279

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

Perficient

NOVEMBER 22, 2022

Members of the Army and Air National Guard, provided they have been called to respond to a national emergency and their period of active duty is more than 30 days in a row. Active duty commissioned officers of the Public Health Service or the National Oceanic and Atmospheric Administration. All active-duty Reserve personnel.

National 275

National United States America Lending 275

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. If you have questions about sanctions compliance or new regulations, contact us or another member of our risk advisory services team.

United States 195

United States Compliance Strategy National 195

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

PYMNTS

OCTOBER 19, 2020

Regulation. Two government officials from European nations have advocated to have watchdogs engage in preventative measures against Big Tech to reduce their strength and handle on the market, according to reports. The new regulations would also reshape the manner in which these companies collect and harness information.

Taxes 143

Taxes Compliance Regulation Google 143

CFPB Monitor

MARCH 26, 2020

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. The new regulations were promulgated as Part 119 to Title 3 of the New York Official Compilation of Codes, Rules and Regulations.

Regulation 88

Regulation ATM New York Cards 88

PYMNTS

APRIL 14, 2020

Gig workers’ rights and benefits — including healthcare and access to unemployment — have become key topics debated by regulators in th e United States as they work to figure out how to provide support. and other countries is the way consumers and regulators th ink about it.

Regulation 285

Regulation Examples United States National 285

PYMNTS

AUGUST 3, 2018

Getting bogged down in a maze or taking unnecessary risks — the current climate for FinTech in the United States often leaves players with only those two stark choices, according to Bruce Parker, founder and CEO of Modo , which describes itself as a “cloud-based utility” that enables payment system interoperability.

Fintech 115

Fintech United States Regulation Innovation 115

PYMNTS

FEBRUARY 6, 2018

Reuters reported news on Tuesday that banking regulators from seven states across the United States are working to, as the newswire reported, “streamline” the FinTech reporting process, with an eye on those tech firms having an easier road toward offering their products and services across the nation.

Fintech 118

Fintech US Tennessee Washington 118

Abrigo

NOVEMBER 17, 2023

Additionally, the human capital investment—in terms of both hiring fraud prevention experts and training existing staff—represents a significant operational expense. As overseers tighten the leash with stringent regulations aimed at protecting consumers, the cost of compliance grows. financial s ystem.

Fraud 195

Fraud Training Trends Compliance 195

PYMNTS

MAY 26, 2016

Those services launched into virgin territory in terms of regulation — businesses of this kind had never quite existed before — and so the rules and regs in place did not quite manage to directly address them. But the events of the week indicate that this area is not likely to remain quite so gray forever. The Big Austin Loss .

Regulation 100

Regulation Austin San Antonio United States 100

Lex Sokolin

FEBRUARY 2, 2022

Brain activity is always *ON* in the same way that your computer is always running background software for its operating system. But equally, if not more, meaningful are the millions of predictions that your brain is constantly making about the likely state of the world, followed by the correction of those predictions once reality hits.

National 52

National Google Regulation US 52

ATM Marketplace

AUGUST 24, 2017

The United States can now boast of having half a million ATMs — approximately three-quarters of them operated by IADs — reliably serving citizens all over the nation, despite nearly constant assault from confused regulators, politicians and pundits.

ATM 48

ATM United States National Regulation 48

PYMNTS

MARCH 6, 2019

Might one leg of the trade war between China and the United States have fallen away? Policymakers are now meeting at the National People’s Congress. percent, where last year’s stated goal had been 6.5 firms operating in China — said tech transfers, done across joint ventures, remain a “non-issue.”

United States 139

United States Policies Survey Meeting 139

PYMNTS

SEPTEMBER 23, 2019

Advanced technology is increasingly raising the stakes of how CUs should operate, with members coming to expect the instant payments and slick mobile interfaces that large banks and FinTechs have made standard. A study from the Cuna Mutual Group found that CU membership has increased 3.5 percent and total deposits by 6.9 About the Tracker.

social media 157

social media Trends Michigan United States 157

PYMNTS

JUNE 27, 2019

The United States has over 60 percent of the world’s cryptocurrency ATMs, followed by Canada with 12.4 s South West Regional Cyber Crime Unit (SW RCCU), in a joint operation with the Dutch police (Politie), Europol, Eurojust and the U.K.’s In other news, it was announced that the U.K.’s Those numbers are expected to grow.

ATM 115

ATM Bitcoin San Francisco cryptocurrency 115

PYMNTS

SEPTEMBER 25, 2019

The license means that Checkout.com is fully regulated by the Banque de France, meaning it can now offer more services and products to not only France but other Eurozone countries too. The company already has operations through the Asia Pacific, Europe and the United States.

Payments 116

Payments United States Leadership Community 116

PYMNTS

MAY 27, 2020

CU branches across the United States have temporarily closed to help slow the spread of contagion, forcing CUs to find new ways to engage with their members via connected technologies, from mobile devices to laptops and especially ATMs. About The Tracker.

ATM 243

ATM Innovation Meeting United States 243

PYMNTS

FEBRUARY 20, 2020

Earlier this week, Japan ’s cabinet proposed a bill that seeks to, as reported by the country’s national daily, The Mainichi , “improve contract transparency” for deals struck by Big Tech firms — specifically, platform operators — and their smaller vendors. Perhaps not surprisingly, Big Tech might be poised to push back.

Taxes 178

Taxes Google Apple United States 178

PYMNTS

MARCH 12, 2019

Treasury’s top international tax official, called the taxes “ill-conceived,” and said the better option was to go after tax reform internationally at the Organisation for Economic Co-operation and Development ( OECD ). The United States opposes any digital services tax proposals, whether they be French or U.K.,” Harter said.

Taxes 132

Taxes Company US social media 132

PYMNTS

JULY 21, 2017

By way of contrast, only 51 percent of cards in the United States are chip cards, and only 20 percent of transactions go by way of EMV mandates. For other nations, conversely, including Italy and the United Kingdom, 27 percent and 20 percent of “bad” transactions are done domestically.

Fraud 116

Fraud United States Regional Cards 116

CFPB Monitor

JULY 21, 2022

On July 13, 2022, the House of Representatives (the “House”) adopted an amendment to the 2023 National Defense Authorization Act (“NDAA”) offered by Maxine Waters (D. As we will discuss, it applies the BSA to persons providing corporate formation, trust, third-party payment, or similar legal or accounting services.

United States 78

United States Taxes Regulation Compliance 78

PYMNTS

OCTOBER 11, 2016

Treasury has reportedly dubbed international payments processor PacNet, which operates Counting House, a “criminal organization,” and reports said the move could cause trouble for FX brokers. ” PacNet has operations in Canada, the U.K. ” PacNet has operations in Canada, the U.K.

United States 100

United States Operations Regional Report 100

PYMNTS

MARCH 6, 2019

The global tax reform is being prepared by the Organisation for Economic Co-operation and Development (OECD). It has been difficult to coordinate tax reform in the EU because there are many varying national interests. The plan would force big companies to pay a tax on data sales, online marketplaces and targeted ads.

Taxes 123

Taxes Google United States Maine 123

PYMNTS

JANUARY 28, 2019

And so, nationalism comes full force to eCommerce, focused on the United States and India, offering another drama, another stage, another possible battle over trade. As has happened so far, India’s government said late last year that new eCommerce regulations would become the law of the land – at the end of this week, on Feb.

Course 188

Course National Online Google 188

PYMNTS

FEBRUARY 21, 2018

Perhaps it isn’t surprising that analysts are now musing about how to avoid a repeat of the Punjab National Bank fraud scandal, and some are looking towards blockchain to do so. As regulators begin to consider blockchain regulations, many have signaled a desire not to hamper innovation while doing so. United States.

blockchain 130

blockchain Los Angeles Regulation Oregon 130

CFPB Monitor

NOVEMBER 3, 2022

Department of Education recently announced final regulations , effective July 1, 2023, designed to expand and improve the major student loan discharge programs authorized by the Higher Education Act. We commented on the Department’s proposed regulations when they were issued last summer.

Study 78

Study Regulation Policies United States 78

PYMNTS

SEPTEMBER 11, 2019

And at least some of those firms – Monzo among them – are applying for banking licenses in the United States. In addition, passporting can help companies expand services across nations. Last week, money transfer company B2B Pay said it plans to become a regulated financial institution and is raising money to pursue licensure.

Digital Banking 160

Digital Banking Millennials Mobile Regulation 160

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. Some European countries also favor the 5G connection standard.

United States 130

United States Technology Guidelines Data 130

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

JANUARY 16, 2018

But more than a tutorial in how not to apologize pre-sentencing, some say that Tucker’s conviction and long sentence may be the beginning of the end of tribal short-term lending in the United States. Regulators spent most of 2017 cracking down on the practice. Tribal Lending . attorney Joon H.

Lending 118

Lending Miami Regulation Kansas 118

PYMNTS

AUGUST 14, 2019

Much has changed, Blanco noted, in the gaming landscape since a 2018 Supreme Court Decision drastically lifted many of the legal curtailments on mobile gambling and sports betting in the United States. The responsibility of casinos managing all of those new transactions. kilograms of methamphetamines and more than $5.5

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

Abrigo

MARCH 4, 2022

A recent example of a bust out scheme was a nationwide operation that resulted in a Great Valley, N.Y., man pleading guilty to multiple felonies, including money laundering, for his role in a national fraud ring that resulted in the theft of more than $1 million from financial institutions. BSA Rules and Regulation. Multiplying.

Fraud 195

Fraud Cards Software Trends 195