Gonzobanker

JUNE 14, 2023

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act. But fear not, compliance-conscious compadres.

Compliance 109

Compliance FDIC Strategy Fintech 109

Abrigo

NOVEMBER 17, 2023

As overseers tighten the leash with stringent regulations aimed at protecting consumers, the cost of compliance grows. FinCEN states, fraud is believed to represent the largest share of illicit proceeds in the United States. It is a critical aspect of maintaining the integrity and sustainability of the U.S.

Fraud 195

Fraud Training Trends Compliance 195

Abrigo

SEPTEMBER 10, 2021

Takeaway 2 The USA PATRIOT Act was the first legislation that criminalized terrorist financing in the United States. The importantance of the BSA tole came to be paramount to the entrie risk management program and included as part of the federal safety and soundness examinations. BSA Rules and Regulation.

Training 195

Training Risk Management Pennsylvania Resources 195

PYMNTS

JULY 5, 2018

As one can easily imagine, that ruling, and the revenue it promises, presents money-making opportunities for such firms — not only for age authentication, but also in the compliance and risk management services that can keep online gambling providers from losing money, reputation and brand value. Market Size. Worst Cases.

United States 103

United States Compliance Risk Management Online 103

CFPB Monitor

APRIL 28, 2022

As the number and frequency of cyber attacks continue to grow, regulators have attempted to enhance cybersecurity protections via increased and more rigid incident reporting obligations, leading to a constantly shifting regulatory patchwork of varying disclosure and timing obligations. Effective date: April 1, 2022.

Report 147

Report FDIC Regulation Security 147

PYMNTS

MAY 15, 2017

The challenge thus has become one where cybersecurity is not just centered on what must be done internally to protect a company and its customers, said Woodbury, but also to determine how third-party interaction with data is regulated. .

Risk Management 108

Risk Management Management Strategy United States 108

Gonzobanker

JULY 10, 2020

Risk Management. Risk management was never out, but the level of investment and emphasis we saw during the early part of the 2008-2009 crisis lessened during the past four to five years. Regulators are now ramping that back up, and model risk management focused on portfolio risk is going to top the list.

Risk Management 88

Risk Management Capital Strategy social media 88

PYMNTS

AUGUST 5, 2019

According to a report in The Sydney Morning Herald , National Australia Bank’s outgoing chairman Ken Henry and other executives held discussions last week with its independent auditor, Ernst & Young , about the shortcomings in the bank’s risk management. EY has been the bank’s independent auditor for 13 years.

Policies 108

Policies United States Risk Management National 108

PYMNTS

JULY 25, 2018

A recent decision by the Supreme Court of the United States ended a ban on legalized sports gambling, and has the potential to change how sports fans from coast to coast experience games. The court’s decision allows individual states to open online gambling to residents. It’s quite tricky in the U.S., com must clear.

Online 100

Online Regulation Fraud New Jersey 100

PYMNTS

SEPTEMBER 9, 2019

Hurricane Dorian may be officially over, but for those in the Southeastern United States and the Bahamas, the rebuild is just getting started. Adding that level of risk management around a push-based disbursement lowers the risk of fraud that insurers may see when issuing claims payments via check.

Payments 171

Payments Industry Cards United States 171

Cisco

OCTOBER 4, 2022

In June 2021, following large cyber attacks on the United States and the resulting Executive order on Cyber security, the FFIEC released the largest update in guidance in over a decade to help financial auditors assess financial institutions. Common AIO Risk Management Topics. Data governance and data management.

Operations 118

Operations Software Risk Management Management 118

Jeff For Banks

JUNE 2, 2023

The early 1980s was a difficult time for the United States, as consumers faced rising prices, high unemployment, and the effects of a supply shock—an oil embargo—which caused energy prices to skyrocket. Third, the regulators need adequate financial resources. My lesson learned to the regulators, read your past lessons learned.

FDIC 78

FDIC Community Bank Regulation Lending 78

CFPB Monitor

NOVEMBER 24, 2020

The OCC also comments that “it is one thing for a bank not to lend to oil companies because it lacks the expertise to value or manage the associated collateral rights; it is another for a bank to make that decision because it believes the United States should abide by the standards in an international climate treaty.”.

Operations 78

Operations Analysis Industry Policies 78

Lars Markull

JULY 1, 2020

This is at the center of most Open Banking regulations and can be achieved with the right design and guidelines. . Therefore, providers like FinLeap Connect or fino in Germany and ClickSwitch in the United States are offering „bank account switching as a service” to banks. C) Risk Management. This can be a hassle.

Risk Management 69

Risk Management Data Examples United States 69

PYMNTS

SEPTEMBER 15, 2017

As LendUp CEO Sasha Orloff and Beneficial State Bank Co-CEO Kat Taylor told PYMNTS in a recent interview, banks and FinTechs need each other, and a very large segment of the population living on the margins of financial services in the United States need these two groups to work together as well. “I

Fintech 198

Fintech System Lending Cards 198

FICO

MARCH 31, 2016

During this period of Congressional gridlock, much of the activity in Washington DC impacting the financial services industry remains focused on the development and implementation of new regulations. Here’s a very brief overview of what we’ll cover: Stress testing is a key area of emphasis for regulators around the globe.

Compliance 40

Compliance DC Washington Regulation 40

Lars Markull

JULY 1, 2020

This is at the center of most Open Banking regulations and can be achieved with the right design and guidelines.  Therefore, providers like FinLeap Connect or fino in Germany and ClickSwitch in the United States are offering „bank account switching as a service” to banks. C) Risk Management.

Risk Management 52

Risk Management Data Examples United States 52

Gonzobanker

DECEMBER 14, 2023

The Bank Regulator Working for Merchants Award! Seems like maybe this has been forgotten when it comes to these regulations. The Lifelong Learning Award – goes to NCUA board member Rodney Hood for enrolling in a Wharton graduate program on fintech to be a more informed and effective regulator.

Fintech 195

Fintech Community Regional Technology 195

ZootBlog

NOVEMBER 11, 2015

In today’s environment, as banks manage increased regulation and competition from industry outsiders, they must operate in the same fashion. There are now more than 8,000 financial technology companies in the United States with the potential to shake up traditional financial institutions. They become students of the game.

Innovation 60

Innovation Fintech social media Knowledge Base 60

Jeff For Banks

NOVEMBER 7, 2015

EnerBank, according to their website, is a highly specialized bank founded in 2002 that provides unsecured home improvement loans through strategic business partners and home improvement contractors throughout the United States. It does not seem like prudent risk management to do so. Seems risky. I would agree.

Community Bank 60

Community Bank Community Baltimore Lending 60

Celent Banking

JULY 24, 2015

The earnings allowance is then used to offset the cost of cash management services. In the United States, corporates got the option of earning interest in money market accounts with the repeal of Req Q by Dodd Frank.

United States 100

United States Operations Management Capital 100

PYMNTS

AUGUST 12, 2016

Upserve is said to have a fancy, slick restaurant management algorithm that could help Square Capital refine its own fancy, slick risk management algorithm to make better lending decisions. So, having easy ways to pay for those global citizens to pursue their goals — a total Sizzle. Apple And The Aussies.

Lending 100

Lending Apple Cards Study 100

Abrigo

DECEMBER 22, 2023

Abrigo, a leading technology provider of software solutions for financial institutions, published more than 30 risk management articles on its industry-focused blog in 2023. Abrigo's most popular financial crime blogs over the last 12 months cover topics that continue to catch the attention of professionals and regulators.

Fraud 221

Fraud Training Compliance Trends 221

Jeff For Banks

JANUARY 12, 2015

We all have been reading for years how the United States was dramatically increasing energy production, especially from a method of extracting oil and natural gas in shale regions of the country known as hydraulic fracturing or “fracking.” Now we all have to adjust to this new reality. And why did they plunge? Thanks for reading!

Philadelphia 60

Philadelphia US Policies Taxes 60

Abrigo

MARCH 17, 2022

The Stress Test Scenarios for Big Banks Are Useful for Smaller Institutions' Own Tests Banking regulators recently released the 2022 scenarios for upcoming stress tests by the biggest banks. Prudent stress testing as a risk management tool helps the enterprise see where the potential pitfalls are in their plans.

Capital 195

Capital Regulation Risk Management Community 195

Lex Sokolin

DECEMBER 31, 2020

is 20 million consumers deep in a neobanking app in the United States. The predecessor article is also pretty good , stating? Let’s lump a few “regulators fight back” entries here as a lead in to the next section. Google has come to Banking. What does that mean, and what should we do about it?

Fintech 52

Fintech Bitcoin blockchain Google 52

Lex Sokolin

DECEMBER 31, 2020

is 20 million consumers deep in a neobanking app in the United States. The predecessor article is also pretty good , stating? Let’s lump a few “regulators fight back” entries here as a lead in to the next section. Google has come to Banking. What does that mean, and what should we do about it?

Fintech 52

Fintech Bitcoin blockchain Google 52

Lex Sokolin

DECEMBER 25, 2019

On the other hand, there are only 8,000 Registered Financial Advisors in the United States and even fewer hedge funds, private equity firms, and family offices. If you raised money from SoftBank, you have to take on large risk, while the banks will take another 5 years to touch real DeFi. (2) Who is your counterparty?

blockchain 52

blockchain Bitcoin Software Lending 52

FICO

JANUARY 15, 2021

By studying past recessions, we know that in a down economy credit criteria goes up and access to credit goes down as lenders try to mitigate credit risk. “As

Report 59

Report Payments Cards Data 59

Abrigo

SEPTEMBER 14, 2022

In 2010, Congress enacted the Dodd-Frank Act “ [t]o promote the financial stability of the United States by improving accountability and transparency in the financial system.” Those implementing regulations were coming. Stay up to date on small business lending regulation and other lending trends. Credit Risk Management.

Lending 195

Lending Data Regulation Community 195

Fintech Labs Insights

NOVEMBER 18, 2014

So in semi-prioritized order, here are six myths that continue to hamper the strategic planning of retail banks (at least in the United States). Myth 1 >> Bank branches are needed for "complex" financial matters Truth : Branch banking is on the way out Prediction : The U.S. Case in point: Amazon.com.

Lending 30

Lending Mobile Online Digital Banking 30

FICO

AUGUST 28, 2017

FICO has mined this data for the FICO ® Score XD in the United States. Lenders need to explain how consumers are scored – certainly to regulators, and often to consumers themselves. This data is basically credit history data, but it’s alternative because it doesn’t actually appear in most credit reports. Social Profile Data.

Data 52

Data Analytics social media Technology 52

CB Insights

OCTOBER 6, 2017

Our time frame was the next 5-10 years, and the relative risk of automation was based on factors including tasks involved, current commercial deployment of technology, patent activity, investment activity, technological challenges, and regulations. These are the professions at the greatest risk. workers). AI Startups.

Software 69

Software Industry Retail United States 69

Abrigo

FEBRUARY 15, 2023

It is also important to note that while we may think of corruption as an international issue in other countries, such as Venezuela or Nicaragua, corruption can also happen within the United States. FinCEN has published multiple advisories on the human trafficking and human smuggling crisis in the United States.

Fraud 195

Fraud United States Training Policies 195

PYMNTS

APRIL 9, 2019

“Jovita was a great Treasurer of the United States, and I look forward to her joining my Cabinet!” Treasurer Jovita Carranza is his pick to lead the Small Business Administration (SBA), after its current chief, Linda McMahon, announced on Friday (March 29) that she will leave the post. Last year, the U.S.

Lending 128

Lending Policies US Capital 128

PYMNTS

SEPTEMBER 27, 2019

In fact, in the intervening 23 years, the situation has arguably gotten even more complex as 31 states (plus the District of Columbia) have legalized cannabis consumption for either legal or medical reasons. More complicated because the disconnect between state and federal regulation of the substance is growing wider by the year.

Taxes 151

Taxes Compliance District of Columbia Industry 151

FICO

JANUARY 5, 2023

Open banking, BNPL, cybersecurity and AI will all be under the microscope for regulators and policymakers, but not all areas will see major action in 2023. regulators take a major step in addressing the emerging open banking landscape. Several groups have also called for comprehensive industry regulation. Four 2023 U.S.

Policies 52

Policies Company Regulation Risk Management 52