Abrigo

JUNE 12, 2023

A regulatory baseline Benefits to adopting the model money transmitter act framework Money transmitters are regulated at the state level, and the absence of a standardized licensing and regulatory framework across states can lead to consistency and challenges for money transmitters. alone, handling $6 trillion in payments.

Compliance 195

Compliance Fraud Regulation Guidelines 195

Abrigo

FEBRUARY 24, 2023

Strategies for clear, concise SAR writing How can BSA officers make their SARs stand out to law enforcement? Law enforcement should be your key audience. Takeaway 3 Proper staffing ensures regulatory deadlines are met while SAR quality stays intact. These suggestions for structuring and writing SARs can help.

Regulation 243

Regulation Fraud Training Trends 243

Perficient

DECEMBER 28, 2023

Understanding the CFPB’s recurrent theme and deciphering its message from the recent press releases provides insights into potential enforcement actions over the next 12-24 months and how banks can reassess their current fee structures. Failure to understand the prevailing wind risks running counter to the CFPB’s current focus.

Compliance 221

Compliance Regional Industry Leadership 221

Abrigo

FEBRUARY 9, 2023

Name screening for sanctions compliance Understand regulatory expectations surrounding name screening and the best lists for your risk-based AML program. Banks and credit unions must understand regulatory expectations around what lists to scan against and the importance of doing so. Takeaway 3 PEP lists change frequently, and the U.S.

Fraud 195

Fraud Training Software Compliance 195

Perficient

JANUARY 23, 2024

This post has been updated to reflect FINRA Regulatory Notice 24-02, issued January 23, 2024. Throughout the pandemic, the Financial Industry Regulatory Authority (FINRA) temporarily suspended the requirement for firms to submit applications for all office locations that were opened in response to the pandemic. What’s New?

Compliance 221

Compliance Regulation Industry Maine 221

Abrigo

FEBRUARY 25, 2022

What to watch for in 2022 Expect these eight BSA /AML regulatory topics to see changes in 2022 and start preparing now to help your institution s tay up to date. You might also like this webinar on BSA/AML regulatory hot topics. Takeaway 1 Now is the time to create a project plan for future BSA/AML regulatory guidance .

Regulation 195

Regulation Policies Compliance Washington 195

PYMNTS

MAY 19, 2020

Robert Werner brings regulatory, financial crime compliance and enforcement experience from his work in the public and private sectors, Libra said. Robert Werner brings regulatory, financial crime compliance and enforcement experience from his work in the public and private sectors, Libra said.

US 227

US Connecticut social media Compliance 227

CFPB Monitor

APRIL 17, 2023

Department of the Treasury released a report examining vulnerabilities in decentralized finance (“DeFi”), including potential gaps in the United States’ anti-money laundering (“AML”) and countering the financing of terrorism (“CFT”) regulatory, supervisory, and enforcement regimes for DeFi.

Report 148

Report United States 148

Perficient

JANUARY 3, 2024

Throughout the pandemic, the Financial Industry Regulatory Authority (FINRA) temporarily suspended the requirement for firms to submit applications for all office locations that were opened as a result of the pandemic. WFH Background Before the pandemic, firms were required to submit branch office applications on behalf of all the “branches.”

Compliance 221

Compliance Risk Management Regulation Industry 221

Abrigo

SEPTEMBER 13, 2022

Takeaway 2 Regulatory guidance shows that transaction monitoring is not one-size-fits-all. In an economic and regulatory environment where compliance resources and budgets are stretched thin, financial institutions must carefully evaluate their priorities when it comes to their BSA/AML program. DOWNLOAD . Risk-based approach.

Software 195

Software Resources Training Compliance 195

CFPB Monitor

JANUARY 26, 2023

In a letter to Director Chopra , five banking trade groups address the CFPB’s obligation to comply with the Small Business Regulatory Enforcement Fairness Act of 1996 (SBREFA) before proposing a rule on credit card late fees and late payments.

Groups 78

Groups Cards National America 78

CFPB Monitor

MAY 24, 2021

This year, Chambers USA added Enforcement & Investigations as a new category for Financial Services Regulation: Consumer Finance. Released last week, the Chambers USA report praised the Group’s skill in supporting clients at both the state and federal regulatory levels.

National 148

National Groups Regulation Compliance 148

CFPB Monitor

OCTOBER 25, 2021

The Consumer Bankers Association has released a new white paper, “ The Case For Regulation Through Rulemaking & Guidance ,” that advocates for the CFPB to use rulemaking and informal written guidance in lieu of attempting to create new industry regulatory standards through enforcement.

Regulation 78

Regulation Industry Tools Examples 78

Abrigo

NOVEMBER 2, 2021

the anti-money laundering (AML) regulatory climate has already seen significant impacts. The Financial Crimes Enforcement Network (FinCEN) and other regulatory bodies have long understood the need to re-adjust and streamline AML priorities. Would you like other articles like this in your inbox? AML A is significant in U.S.

Compliance 195

Compliance Regulation Resources Policies 195

CFPB Monitor

JUNE 1, 2022

The Group was ranked in the highest tier nationally in three categories: Compliance, Litigation, and Enforcement & Investigations. Enforcement & Investigations was added by Chambers USA last year as a new category for Financial Services Regulation: Consumer Finance.

National 78

National Groups Regulation Compliance 78

CFPB Monitor

AUGUST 3, 2022

On July 29, 2022, the Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) issued a notification letter (the “joint letter”) to “remind” auto lenders and leasing companies of the protections provided to servicemembers and their dependents under the Servicemembers Civil Relief Act (SCRA).

Company 148

Company Tools Report Data 148

Abrigo

JUNE 4, 2023

BSA enforcement actions are on the rise. All bank employees must have a general understanding of AML regulatory requirements. Takeaway 2 Recent cases have shown that now is not the time to let up the gas on AML compliance. Takeaway 3 Building a strong AML program now can save time and money in the future. When the U.S. When the U.S.

Compliance 195

Compliance Training Resources Regulation 195

Perficient

MAY 15, 2023

Additionally, maintaining clear, comprehensive data systems promotes business ethics and adherence to laws and regulations enforced by regulatory bodies. Improved Productivity & Efficiency. Institutions that prioritize their data will realize the importance and benefits of optimizing data processes. Personalization.

Data 275

Data Conference New York City New York 275

CFPB Monitor

JUNE 22, 2023

The report examines the vulnerabilities in DeFi, including potential gaps in the United States’ Bank Secrecy Act/anti-money laundering regulatory, supervisory, and enforcement regimes for DeFi.

United States 78

United States Report 78

Abrigo

SEPTEMBER 25, 2023

Download now Bipartisan support The 2023 SAFE Banking Act: An unclear outlook Takeaway 1 The Senate recently introduced the newest version of marijuana legislation, the Secure and Fair Enforcement Regulation (SAFER) Banking Act. Learn the legislation's history and how it benefits financial institutions.

Puerto Rico 243

Puerto Rico Virgin Islands Guam United States 243

Abrigo

DECEMBER 13, 2019

The FDIC released a manual on Formal and Informal Enforcement Actions. The FDIC released its manual on Formal and Informal Enforcement Actions. For the first time, the FDIC released its manual on Formal and Informal Enforcement Actions to provide greater transparency to those processes.

FDIC 195

FDIC Regulation Capital Lending 195

PYMNTS

AUGUST 14, 2020

Now, Guo Shuqing, chairman of the China Banking Regulatory Commission, the nation’s top banking regulator, said investors have been saddled with more than 800 billion yuan ($115 billion) in debt from the failed platforms, Bloomberg News reported. 14), per the report. But the news service reported the sector was plagued by fraud and defaults.

Lending 315

Lending Regulation Industry Fraud 315

CFPB Monitor

MAY 2, 2022

A federal district court judge in the Southern District of New York ruled late last week that three credit unions had successfully established a likelihood of success on their claims that the retroactive application of New York’s recently-passed rate reduction law constitutes a regulatory taking in violation of the U.S.

New York 147

New York Exercises Policies Compliance 147

CFPB Monitor

JANUARY 5, 2024

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Groups 78

Groups America Community Regulation 78

Abrigo

DECEMBER 4, 2020

The Federal Reserve Board and the Financial Crimes Enforcement Network (FinCEN) (the Agencies) jointly issued a notice of proposed rulemaking (NPR). The rule was created to assist law enforcement and regulatory agencies in detecting, investigating, and prosecuting financial crimes. Notice of proposed rulemaking (NPR).

Regulation 195

Regulation Lending Taxes Data 195

Abrigo

MARCH 24, 2021

Many steps, most of which fall on the Financial Crimes Enforcement Network (FinCEN), are required before the law can be implemented. Access and use of the registry are limited to law enforcement for investigative purposes only, so for now, financial institutions will need to continue to collect this data.

Regulation 195

Regulation Training Study Policies 195

CFPB Monitor

SEPTEMBER 19, 2022

We focus here on the regulatory and legislative recommendations of the Report, which seek to expand significantly the ability of the DOJ to investigate and prosecute offenses involving digital assets.

Report 78

Report cryptocurrency Training Guidelines 78

Abrigo

JANUARY 3, 2024

Treasury’s Financial Crimes Enforcement Network (FinCEN) recently issued a new regulation on the requirements, including how AML staff will access the information through a new federal beneficial ownership information (BOI) registry. The more critical potential outcome of BOI reporting is assisting law enforcement in solving financial crime.

Fraud 221

Fraud Regulation Report Compliance 221

CFPB Monitor

FEBRUARY 17, 2021

To help clients navigate this new regulatory authority, Ballard Spahr’s nationally recognized Consumer Financial Services Group has created a California “Mini-CFPB” team. To help clients navigate this new regulatory authority, Ballard Spahr’s nationally recognized Consumer Financial Services Group has created a California “Mini-CFPB” team.

California 78

California Resources National Groups 78

PYMNTS

JANUARY 8, 2021

Now becoming more specific is mainly to help administrative departments to enforce the rules in the real world,” Shi Yuhang, a lawyer with the Huiye Law Firm, told Reuters. After these many years, the regulatory authorities have also deepened their understanding of the industry.”.

Online 171

Online Regulation Maine National 171

American Banker

JULY 20, 2023

The Crypto-Asset National Security Enhancement and Enforcement Act would increase regulatory oversight of cryptocurrencies traded on public blockchains and guard against money laundering and sanctions evasion, particularly by holding the largest crypto investors accountable for compliance.

cryptocurrency 65

cryptocurrency Compliance blockchain National 65

Abrigo

SEPTEMBER 25, 2023

LISTEN NOW Bipartisan support The 2023 SAFE Banking Act: An unclear outlook Takeaway 1 The Senate recently introduced the newest version of marijuana legislation, the Secure and Fair Enforcement Regulation (SAFER) Banking Act. Learn its history and how it benefits financial institutions.

Puerto Rico 195

Puerto Rico Virgin Islands Guam United States 195

CFPB Monitor

APRIL 25, 2022

The report incorporates information from the FTC’s most recent annual letter to the CFPB describing its 2021 activities in the debt collection market, including information about the FTC’s enforcement actions involving collection practices directed at small businesses. In 2021, the CFPB announced one new FDCPA enforcement action.

Report 141

Report Pennsylvania Resources Operations 141

Bank Innovation

SEPTEMBER 8, 2017

Malaysia’s Securities Commission joins the band of regulatory bodies cautioning people about the dangers of Initial Coin Offering schemes.

Security 150

Security Regulation cryptocurrency 150

Perficient

MAY 27, 2022

However, in this blog, we will discuss the regulatory landscape surrounding cryptocurrency from an asset manager or fund manager perspective. Regulatory cryptocurrency regulations are most fluid at the state level. We’ll start therefore with a review of the latest state regulatory changes regarding cryptocurrencies.

cryptocurrency 332

cryptocurrency Regulation Management Bitcoin 332

CFPB Monitor

OCTOBER 29, 2020

In an internal memorandum recently circulated at the CFPB, Bryan Schneider, who leads the Bureau’s Division that houses its supervision, enforcement, and fair-lending functions, announced a major internal reorganization. She has also expressed her belief that enforcement should be employed as a last resort.

Policies 113

Policies Lending Tools Strategy 113

Abrigo

MAY 20, 2022

Takeaway 2 Financial institutions should formalize existing model risk management activities to satisfy regulatory expectations. While this statement softened the enforcement of regulatory guidance, the FDIC recently issued an update to its Risk Management Manual of Examination that incorporates model risk management into bank ratings.

Risk Management 195

Risk Management Management FDIC Meeting 195