PYMNTS

NOVEMBER 25, 2020

The age of digital currencies might be fully upon us, but key questions swirl about how to issue and regulate cryptos – especially stablecoins. Regulators and lawmakers, however, can latch onto digital currency efforts as they must monitor and also supervise such stablecoins. In a paper that debuted Tuesday (Nov.

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Regulation Bitcoin Cleveland Study 231

PYMNTS

DECEMBER 4, 2020

4), Dutch antitrust regulators have been looking at the company – specifically into Apple’s Pay’s near-field communications (NFC) operability. Per the Dutch regulators: They’ll seek to investigate “whether limiting the payment apps’ access to NFC communication reduces the users’ freedom of choice.”

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Regulation Apple Google Software 150

PYMNTS

JUNE 10, 2020

regulator announced it was launching an investigation into whether Amazon’s big investment in Deliveroo might have a chilling effect on competition in the food delivery sector – particularly by removing incentives on Amazon’s part to relaunch its own restaurant delivery service or take a larger role in the online grocery delivery sector. “In

Regulation 130

Regulation Groups Online Marketing 130

CFPB Monitor

OCTOBER 11, 2023

The proposal follows the FTC’s issuance in October 2022 of an Advance Notice of Proposed Rulemaking to address “junk fees,” a term that was used in the ANPR Notice to refer to “unfair or deceptive fees that are charged for goods and services that have little or no added value to the consumer.” . Continue Reading

Regulation 78

Regulation 78

PYMNTS

OCTOBER 7, 2019

Merchants in the European Union (EU) are still wondering exactly what changes the regulation will bring when it comes to their relationships with customers. Regulators in many EU countries have their own thoughts on SCA and how long it will take merchants to prepare. Around the PSD2 and GDPR world. About the Tracker.

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Regulation Trends Compliance National 134

PYMNTS

DECEMBER 14, 2018

Now victims of APP fraud can make a complaint to the PSP receiving their payment, and if they’re not satisfied with the outcome, can refer their complaint to the Financial Ombudsman Service (FOS).” s Payment Systems Regulator (PSR) found that 100 scams hit businesses or consumers every day.

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Fraud Regulation Payments Groups 166

Perficient

MARCH 30, 2023

The “cloud” refers to a global network of servers, each with a unique function, that works in tandem to enable users to access files stored within from any approved device. Recently, I attended the 2023 Bank Automation Summit , where one of the significant topics of discussion was how banks navigate their transition to the cloud.

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Training Security Data Regional 492

PYMNTS

OCTOBER 13, 2019

financial regulators have warned firms with registered digital assets that they must follow securities laws to prevent money laundering, as well as report any suspicious activity. Secretary of State Mike Pompeo stated that bitcoin needs to be as highly regulated as SWIFT. Earlier this year, U.S.

Regulation 122

Regulation Security New York City Bitcoin 122

CFPB Monitor

OCTOBER 21, 2021

The CFPB, Federal Reserve Board, FDIC NCUA, OCC, in conjunction with the state bank and state credit union regulators, jointly issued a statement on managing the transition away from LIBOR (Joint Statement). Appropriateness of alternative reference rates. Fallback language.

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Regulation Management FDIC Risk Management 78

PYMNTS

JANUARY 16, 2020

In addition, any firms that carry out crypto asset related activity within the scope of the FCA’s regulations must register with the authority before conducting business. but then of course Brexit looms) must begin regulating cryptocurrency assets with the same regulations that govern banks and other financial firms.

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Regulation cryptocurrency User Experience Operations 132

PYMNTS

OCTOBER 22, 2018

In the United Kingdom, a peer-to-peer (P2P) property lender has taken what the Financial Times called “the unusual step” of asking a regulator for aid amid a legal dispute. In reference to one Liverpool residence, an 11 million pound Lendy loan may be recoverable by only as much as 62 percent, said the FT.

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Regulation Virgin Islands Meeting Company 128

PYMNTS

AUGUST 19, 2019

The Australian Securities and Investments Commission (ASIC) is just weeks away from filing lawsuits against the country’s biggest banks, as the regulator increases its active investigations, Reuters reported on Monday (Aug. ASIC Deputy Chair Daniel Crennan said the latest proceedings would be issued by year-end.

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Regulation Groups Report National 109

South State Correspondent

OCTOBER 9, 2019

Today LIBOR is linked to over $250 Trillion (that is with a “T”) in financial instruments and has been used as a reference rate for more than 30 years. However, regulators, for various reasons, are driving a shift to an alternative reference rate. Most community banks use LIBOR sparingly in their loan and deposit contracts.

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Community Bank Community Regulation US 170

Perficient

AUGUST 5, 2021

Background: On June 11, 2021, the Federal Reserve published in the Federal Register a proposal to amend Regulation J to govern funds transfers through the Federal Reserve Bank’s new FedNow Service by establishing a new subpart C. Comments must reference Docket No. Interbank wires will now move funds faster than Venmo.

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DC United States Washington Regulation 309

CFPB Monitor

MARCH 11, 2020

Take steps to promote the broad adoption of SOFR (citing reports indicating “that industry has recently pushed for regulators to rubber-stamp the use of additional alternative reference rates”). Remain committed to the adoption of a replacement index that is based on actual transaction data.

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New York National Groups Community 78

Perficient

JUNE 1, 2022

Transactions that are not reported within the specified timeframe are classified as late (FINRA TRACE reporting requirements always reference Eastern Time). I’ve created a guide, The What, Why, and How of TRACE Reporting Compliance , that outlines the intricacies, rules, and regulations surrounding TRACE. Interested in learning more?

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Report Security Regulation System 294

PYMNTS

JULY 13, 2018

South Korean financial regulators said a unit of Samsung , Samsung BioLogics , intentionally breached corporate accounting rules, Reuters reported Thursday (July 12). The parties will be further investigated.

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Samsung Regulation Report National 100

PYMNTS

MAY 21, 2018

The regulatory gaze become more fully trained on social media as in Germany, intelligence official Hans Georg Maassen said last week that regulation may be needed for social media companies if the European Union finds that more transparency is needed. Also, in the U.K.,

social media 108

social media Regulation New York Data 108

PYMNTS

MAY 29, 2018

Banks, faced with low business growth and fierce competition in the industry, are offering business loans with sweeter terms, which is worrying some regulators. The WSJ pointed to a report from The Office of the Comptroller of the Currency (OCC), which referred to an easing of commercial loan standards as a leading risk to the industry.

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Regulation Lending Industry Analysis 101

CFPB Monitor

NOVEMBER 10, 2021

On October 29, the New York Department of Financial Services issued proposed amendments to 23 NYCRR 1, its regulation titled “ Debt Collection by Third-Party Debt Collectors and Debt Buyers.” They would also align the DFS regulation with several of the CFPB’s requirements in Regulation F, set to become effective on November 30, 2021.

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Regulation New York Branding Payments 78

CFPB Monitor

APRIL 8, 2021

On April 1, 2021, the FDIC’s final rule issued in December 2020 revising its brokered deposits regulation became effective. The final rule also requires a third party relying on either of two Designated Exceptions (referred to as the “25 percent test” and the “enabling transactions test”) to provide written notice to the FDIC.

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FDIC Resources Regulation Compliance 78

PYMNTS

MAY 12, 2016

In reference to regulations directly impacting the banking industry, Dimon promised that “we’re going to satisfy the regulators” and noted: “When I travel around America, I get a huge amount of complaints about regulation. Small business, middle market, large companies. And I agree with that.”

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Regulation Community Bank Community America 100

Abrigo

AUGUST 14, 2019

The SAFE Banking Act was referred to the Subcommittee on Crime, Terrorism, and Homeland Security in April of this year, and reported to the Committee on Financial Services in June. The post The SAFE Banking Act Update – Is Regulation for Banking CRBs on the Horizon? appeared first on Abrigo.

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Regulation Denver Community Security 150

Bank Innovation

MARCH 30, 2018

bank said it will be switching off access to 24 million customers as the bank restructures itself as required by national regulation. These changes were established by the Bank of England in 2011, and is referred […]. The major U.K.

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Online National Regulation Mobile 220

CFPB Monitor

JANUARY 9, 2020

The New York Department of Financial Services has sent a letter to the institutions that it regulates requiring each such institution, by February 7, 2020, to provide to DFS a description of its “plan to address its LIBOR cessation and transition risk.” (LIBOR is the acronym for the London Inter-Bank Offered Rate.).

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Regulation New York Taxes Management 78

Abrigo

MAY 10, 2022

Takeaway 3 Follow your regulator's instructions and reference the most recent regulatory SAR guidance. Always follow your regulator's guidance and instructions. While your regulator may want something in the SAR narrative that you believe will not assist law enforcement, pick your battles. BSA Rules and Regulation.

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Regulation Fraud Resources Software 370

BankUnderground

JULY 31, 2020

To make regulation proportionate, policymakers adapt regulatory requirements to the risks posed by each firm. But regulators face a trade-off between addressing systemic risks in a proportionate way and limiting regulatory complexity. asked PRA CEO Sam Woods in a recent speech. Here we have focused on individual thresholds.

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Regulation Policies Analysis Capital 63

CFPB Monitor

JUNE 10, 2020

The CFPB has proposed amendments to Regulation Z to address the discontinuation of the London Inter-Bank Offered Rate (LIBOR) that is currently used by many creditors as the index for calculating the interest rate on credit cards and other variable-rate consumer credit products. ” Click here to register. Change in index.

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Regulation Handbook Cards New York 78

CFPB Monitor

DECEMBER 9, 2021

The CFPB has issued a final rule amending Regulation Z to address the discontinuation of the London Inter-Bank Offered Rate (LIBOR) that is currently used by many creditors as the index for calculating the interest rate on credit cards and other variable-rate consumer credit products. Change in index. Dollar LIBOR indices. (The

Regulation 78

Regulation Cards Compliance Groups 78

CFPB Monitor

JUNE 14, 2021

The new law became effective immediately upon signing notwithstanding the authority it gives the Illinois Department of Financial and Professional Regulation (“IDFPR”) to adopt rules “consistent with [the] Act.”. Proposed Regulations. The IDFPR has proposed regulations to implement the Act.

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Illinois Regulation Report Lending 78

BankUnderground

AUGUST 13, 2020

The banking reforms that followed the financial crisis of 2007-08 led to an increase in UK banking regulation from almost 400,000 to over 720,000 words. Did the increase in the length of regulation lead to an increase in complexity? The dataset includes both UK-specific rules and guidance, and EU Regulations and Technical Standards.

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Regulation Handbook Policies Comparison 114

Accenture

NOVEMBER 15, 2019

In the UK and Ireland, we mostly use the term when referring to regulation introduced on the back of the EU’s PSD2. Today, the vast majority in the industry have heard the term Open Banking, but what does it really mean? The answer isn’t as simple as many people might think. Globally, however, the term…. Open data is just beginning.

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Data Regulation Industry Payments 152

PYMNTS

JUNE 10, 2016

As a general rule, most startups aren’t too happy when the regulator comes around, and it is rarely indicative of good news. And while that is bad news for a startup like Uber, as it turns out, instinctive fear of the regulator is not an endemic condition among startups.

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Regulation National Austin Fintech 100

BankUnderground

DECEMBER 8, 2021

Out of a sample of large internationally active banks, the framework identifies and labels those banks whose failure would be particularly harmful for the global financial system as global systemically important banks (G-SIBs ) (we refer to the remaining banks in the sample as ‘non G-SIBs’). First, we count references to the G?SIB

Regulation 81

Regulation Analysis Capital System 81

CFPB Monitor

JULY 26, 2022

A Delaware federal court has refused to dismiss a class action complaint filed against a credit union that alleges the credit union violated Regulation E and the Delaware Consumer Fraud Act (CFA) even though the credit union’s overdraft opt-in notice tracked the language in the Regulation E model notice. In Miller v. Section 1005.17(b)(1)(i).

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Delaware Regulation Policies Fraud 78

PYMNTS

SEPTEMBER 16, 2020

The Financial Times (FT) reported police acknowledged that in a scheme to avoid China’s tough financial regulations, thieves have targeted sites including Pinduoduo Inc., The company said it has referred more than 1,000 suspected incidents to police since last year, and more than 200 suspects have been arrested.

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Online Report Security Regulation 312

PYMNTS

APRIL 10, 2017

The lead regulator for U.S. Notably, most of the cases referred to by the OCC had already been announced and, in some cases, were over a decade old. banks, the Office of the Comptroller of the Currency, removed Wells Fargo’s most senior bank examiner, people familiar with the matter told Reuters.

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Regulation California Community Bank Cards 100