PYMNTS

MARCH 27, 2019

Much has been said about how Europe is shaping up to be ground zero for seismic changes in Big Tech, as regulators are, have been and will continue to impose mandates on what can and cannot be used in terms of consumer data. However, in the U.S., However, in the U.S., That’s up eight percentage points from a year ago, according to the data.

Regulation 108

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PYMNTS

SEPTEMBER 30, 2020

Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. The pandemic is dramatically altering how merchants can transact, which data they can store and where they can store it, however.

Regulation 175

Regulation Data Regional Examples 175

PYMNTS

FEBRUARY 25, 2019

The Conference of State Bank Supervisors (CSBS) said earlier this month that it had put in place a set of action items to standardize the national experience of FinTechs and non-bank entities. We have formed a working group of state regulators to develop the model. This is an area that we are studying.”.

Regulation 147

Regulation Fintech Community Bank Community 147

CFPB Monitor

JULY 8, 2022

Department of Education recently announced proposed regulations designed to expand and improve the major student loan discharge programs authorized by the Higher Education Act. But that is precisely what the Department’s proposed regulations would do. The Department’s proposed regulation constitutes administrative overreach.

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PYMNTS

NOVEMBER 19, 2018

laws for anti-money laundering (AML) regulate digital currencies, per CoinDesk. He also noted that the Financial Action Task Force (FATF) “urges all nations to make clear that global anti-money laundering standards apply to virtual currency products and service providers.”. As it stands, the U.S.

Regulation 148

Regulation Bitcoin Study cryptocurrency 148

PYMNTS

SEPTEMBER 24, 2019

Bank of Japan Head Haruhiko Kuroda spoke to business leaders in Osaka about the importance of having a coordinated global plan to regulate Libra and other cryptocurrencies, Reuters reported on Tuesday (Sept. He urged policymakers to ensure that the highest level of regulation is applied to such assets.

Regulation 108

Regulation social media cryptocurrency Policies 108

PYMNTS

APRIL 8, 2019

Australian financial regulators are feeling pressure to ensure financial institutions treat customers properly and have turned to artificial intelligence (AI) in an attempt to improve compliance, according to a report by the Financial Times. The trend is starting to appear nationally.

Compliance 108

Compliance Regulation Industry National 108

PYMNTS

MARCH 9, 2018

when it comes to financial regulation. As reported by Caixin Global , the People’s Bank of China will “take the lead” in coordinating regulation, a strategy that was telegraphed in remarks on Friday (March 9) from bank governor Zhou Xiaochuan. China may not take a page, or several, from the U.K.

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Regulation Course Maine Study 101

PYMNTS

SEPTEMBER 14, 2016

Comptroller of the Currency said the agency will roll out a new framework for regulating marketplace lending. Curry said officials are studying whether marketplace lending and other related innovations, including digital currencies, raise certain risks and comply with existing laws.

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Lending Regulation Conference Study 100

PYMNTS

NOVEMBER 23, 2020

A recent report released by the United Nations found that 132 out of 194 countries have now introduced data protection regulations of some kind, all varying in terms of what type of information they protect and the severity of their restrictions. Around The Data Protection World.

Industry 298

Industry Regulation Data Study 298

PYMNTS

FEBRUARY 15, 2017

Aiming to beef up security in connected and driverless cars , a group of lawmakers have introduced a bipartisan bill in the House of Representatives that would put the National Highway Traffic Safety Administration (NHTSA) in charge of studying security issues for cars and trucks that are connected and eventually driverless.

Study 120

Study Security CA National 120

Abrigo

DECEMBER 1, 2022

Takeaway 2 A recent study resulting from the AMLA has highlighted several ways criminals are using art to launder money. . The fact that this market has been loosely regulated in the United States leaves the industry open to illegal actors in the dark market and open trade, such as auction houses and the internet. DOWNLOAD .

Regulation 195

Regulation Study Training Resources 195

PYMNTS

DECEMBER 4, 2018

3) that urged banks to study and implement “where appropriate” methods that would bring innovate approaches to anti-money laundering efforts and Bank Secrecy Act compliance. Several regulatory agencies issued a joint statement Monday (Dec. financial system.”. Said Ohio Democrat Sherrod Brown, such relaxing of rules could be harmful.

Innovation 161

Innovation Regulation Compliance Idaho 161

PYMNTS

AUGUST 4, 2019

The study, detailed in the paper “Anti-Money Laundering in Bitcoin: Experiments with Graph Convolutional Networks for Financial Forensics,” explains how artificial intelligence (AI) can be used to identify illicit transactions, as well as transactions associated with money laundering, sanctions violations or terrorist financing. “On

Bitcoin 115

Bitcoin Study Data Massachusetts 115

CFPB Monitor

JANUARY 30, 2023

Last year, Congress took up the discussion of a national 36% annual interest rate cap. Over the past few years, numerous states have imposed interest rate caps on consumer credit. In recent blog posts, we discussed the efforts of both Michigan and New Mexico to impose a 36% annual interest rate cap. Continue Reading

Illinois 78

Illinois New Mexico Michigan Study 78

PYMNTS

APRIL 20, 2016

As the nation waits and drama builds over expected new guidelines from the Consumer Financial Protection Bureau on short-term lending, the government watchdog has issued a new report that indicates that the high cost of payday loans is even higher than most people think. Of that half, about a third face account closures as an outcome.

Study 100

Study Lending Guidelines Survey 100

CFPB Monitor

FEBRUARY 17, 2021

Acting Director Uejio also expressed concern about “disparities in some companies’ responses to Black, Brown, and Indigenous communities” found by consumer advocates, but he did not name those consumer advocates or the studies that may have prompted his comments. Based on that statistic, U.S. Based on that statistic, U.S.

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Regulation Study Community Leadership 78

PYMNTS

DECEMBER 8, 2020

Cybercriminals are constantly one step ahead of government regulators, developing new and inventive schemes faster than the authorities can quash them. A study found that more than 56 percent of cryptocurrency exchanges have weak or nonexistent KYC systems which are not effective at preventing money laundering. billion by 2024.

cryptocurrency 261

cryptocurrency Mobile Compliance Analysis 261

PYMNTS

JANUARY 4, 2019

That caution extends to all manner of considerations in the realm, including the issuance of a state-backed cryptocurrency, and even the regulation of the digital currencies. Study and study and tread carefully, it seems. The fact that India is still studying the issue means that cryptos of course can and will be revisited.

cryptocurrency 139

cryptocurrency Study National Course 139

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.

Mobile 229

Mobile Report America Regulation 229

Abrigo

JULY 21, 2021

As part of the Financial Crimes Enforcement Network’s (FinCEN) first national priorities list for anti-money laundering and countering the financing of terrorism (AML/CFT) policies, one important priority continues to be detecting, reporting, and preventing terrorist financing. BSA Rules and Regulation. BSA Rules and Regulation.

Training 195

Training National Strategy Regulation 195

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.

National 100

National Taxes Data Report 100

Abrigo

MARCH 24, 2021

Anti-Money Laundering Act of 2020 BSA professionals should prepare for changes as new regulations and guidance from FinCEN unfold. Takeaway 2 While the AMLA is now law, regulations, guidance, and other information still needs to be written. These include conducting studies, writing regulations, and publishing guidance.

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Regulation Training Study Policies 195

Abrigo

JUNE 4, 2023

Introduction Prioritizing AML compliance resources The regulations laid out in the Bank Secrecy Act (BSA) are intended to promote financial transparency and identify those who misuse the financial system. Civil penalties vary, with regulators authorized to penalize between $5000 and $1,000,000 per violation for each day the breach occurs.

Compliance 195

Compliance Training Resources Regulation 195

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

JULY 9, 2020

A new rule from the United Nations will require connected cars sold in Japan, South Korea and the European Union, among other places, to be protected against cyberattacks, The Wall Street Journal (WSJ) reported. Japan said it would begin implementing the rules next year, and South Korea plans to introduce some regulations this year.

Security 146

Security United States Guidelines Texas 146

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

Celent Banking

JANUARY 26, 2017

The timing is also interesting, as only two weeks ago outgoing President Obama’s National Economic Council (NEC) released a new whitepaper called A Framework for FinTech. The NEC, a policy advisory unit of the White House established in 1993, proposed 10 high-level principles designed to move the US fintech industry forward. .”

Regulation 100

Regulation Policies Philadelphia Fintech 100

PYMNTS

OCTOBER 10, 2019

The Chief of Russia’s Central Bank Elvira Nabiullina said she doesn’t see any pertinent or obvious reason to create a national digital currency, according to a report by Russian News Agency TASS. The regulator made the remarks at the Finopolis forum of innovative financial technologies.

cryptocurrency 108

cryptocurrency National Study Comparison 108

PYMNTS

JANUARY 19, 2018

Fizzle of the Week: Cryptocurrency Regulation. The saga over bitcoin and its relationship to various regulators has become something of the payments answer to a romantic comedy. I can ask my friends who study abroad or travel there myself. Easy come, easy crypt-go, it seems. It’s not that big of a problem.”.

Bitcoin 123

Bitcoin Regulation cryptocurrency Taxes 123

PYMNTS

OCTOBER 8, 2020

In today’s top payments news around the world, Flywire has teamed with the Brazilian Educational & Language Travel Association on payment options for students studying abroad, while EMQ has begun to let firms transfer as much as $280,000 directly into banks in Japan. Pandemic Will Push 150M Into 'Extreme Poverty' By 2021, World Bank Says.

Payments 153

Payments Study National Regulation 153

CFPB Monitor

AUGUST 20, 2020

federal and state financial institution regulators have taken meaningful, proactive steps to acknowledge financial inequality issues, reach out to traditionally underserved populations to expand access to credit, and further protect consumers from discrimination. This blog post contains a summary of those efforts.

Regulation 78

Regulation FDIC Community Lending 78

PYMNTS

DECEMBER 26, 2019

Lei said the regulator will reinforce the fusion of FinTech and the foreign exchange market and will oversee the advancement of new technology. “We SAFE is primarily responsible for reviewing the drafting of ordinances and regulations that facilitate foreign exchange market activities and state foreign exchange reserves.

blockchain 136

blockchain Regulation cryptocurrency Study 136

PYMNTS

SEPTEMBER 1, 2017

New regulations also came into effect earlier this year that requires companies to report their supplier payment practices. government has made several initiatives to alleviate the issue of late payments for small suppliers, having established the role of Small Business Commissioner to guide these efforts.

Study 101

Study Payments Analysis Survey 101

PYMNTS

NOVEMBER 23, 2020

The Office of the Comptroller of the Currency ( OCC ) has proposed personal banking regulations intended to level the playing field. . A PYMNTS study earlier this year shows how the lines are blurring between FinTechs, Big Tech and traditional banks. percent) or PayPal (3.2 percent). .

Study 170

Study Survey Regulation System 170

Abrigo

JUNE 15, 2023

Credit: Brian Koppel, Reel to Real Filming Locations blog According to a Global Financial Integrity (GFI) study , an estimated $2.3 has lagged in passing laws and regulations preventing criminal proceeds from flowing into real estate. national security and the integrity of the U.S. real estate market alone. However, the U.S.

Training 195

Training Regulation Compliance System 195

PYMNTS

FEBRUARY 15, 2018

He said that in his own state of Washington, state regulators have been looking at those issues for some time to determine the possibility of some sort of reciprocity or sharing of information. “It The pilot being run with those initial seven states will provide some answers for how state regulators can streamline the process.

Washington 101

Washington Regulation Conference Fintech 101