Abrigo

FEBRUARY 2, 2015

The banking industry has seen a steady stream of media attention since 2008, much of it in the form of stories about data breaches linked to major retailers or mega banks’ profits. Two recent surveys addressing the community banking landscape have pointed to increasing regulations as the primary cause of stress for these institutions.

Community Bank 150

Community Bank Community Regulation Survey 150

PYMNTS

DECEMBER 9, 2020

Lukies said that prior to the 2008 financial crisis, regulators and the like normally left banks to their own devices, as long as they didn’t mess it up so that people couldn’t pay their bills or go shopping. Before 2008, banks were making a lot of money from a lot of things,” noted Lukies.

Innovation 306

Innovation Fintech Payments Regulation 306

PYMNTS

DECEMBER 18, 2020

Credit Suisse has been indicted by Swiss prosecutors for allegedly failing to prevent money laundering, Bloomberg reports, adding that a former bank manager was also indicted alongside Credit Suisse. The case in question goes back to 2008 when a Bulgarian wrestler was investigated for reportedly turning to drug trafficking.

Compliance 203

Compliance Report Regulation Innovation 203

PYMNTS

MARCH 25, 2019

But the laws and regulations governing biometrics have yet to catch up to the reality of their use, and that’s perhaps most apparent when it comes to two recent, high-profile cases in Illinois. Since the law’s enactment in 2008, an estimated 200 class-action and other lawsuits have been filed that claim violations of BIPA. BIPA Scope.

Illinois 151

Illinois Regulation Google San Francisco 151

Abrigo

DECEMBER 22, 2023

Takeaway 2 Management reports, probability of default, and model validation topics were found in the top blogs for risk professionals. Takeaway 3 Updates on interest rate forecasting and best practices for managing CRE risk were among the most-read blogs. The FASB’s description of proposed changes can be found here.

Risk Management 221

Risk Management Regulation Management Lending 221

PYMNTS

JULY 17, 2019

Historically, banks are taking a reactive approach to risk: reactionary measures were largely behind financial institutions’ pullback from the small business lending market following the 2008 global financial crisis, for example. On top of that balancing act is the rising pressure of regulatory compliance, too.

Data 130

Data Management Analytics Compliance 130

South State Correspondent

MAY 9, 2023

The regulators are considering three options: raising the limit above $250k, raising the cap for only certain accounts (such as banks’ business accounts), or eliminating the cap entirely. We have witnessed more bank failures by asset size in 2023 than in 2008 and 2009 combined. economy needs.

FDIC 195

FDIC Regulation Capital Management 195

PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. Between 2008 and 2018, approximately $26 billion worth of fines were levied against banks for AML, KYC and sanctions noncompliance. financial services firms is $26.4

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

Perficient

AUGUST 16, 2023

He was promoted to President and CEO in 2008. Bank Closed By Regulators Almost all bank closures happen on a Friday so that regulators can work all weekend to reopen the bank on Monday. To speak to a Perficient consultant about RCSA or any of Perficient’s risk management and regulatory capabilities, click here.

United States 221

United States Kansas FDIC Risk Management 221

PYMNTS

MAY 29, 2019

Reports in Reuters on Tuesday (May 28) said UBS expects its regulatory costs to remain high in the years ahead after a decade of more stringent regulations leading to heavier, more costly burdens on banks. “That has tied up enormous resources.” “Why is this so significant?

Regulation 108

Regulation Compliance Capital Resources 108

PYMNTS

SEPTEMBER 4, 2020

Since January, the European Central Bank (ECB), which oversees the biggest European Union lenders, has eased regulations to encourage mergers and reduced the capital requirements for such transactions, the news service reported. Regulators say consolidation in the banking sector would lower costs, improving efficiency and boost profits.

New York 188

New York Regulation Customer Experience Report 188

Perficient

JUNE 25, 2024

Learning from history, he referenced the lack of regulatory controls in derivatives and financial engineering before the 2008 financial crisis, and more recently, the unregulated growth of cryptocurrencies leading to the “Crypto Winter” of 2022.

Case Study 221

Case Study Risk Management Analysis Innovation 221

PYMNTS

FEBRUARY 1, 2017

The largest anxiety critics of the alternative lending space have today is a lack of regulation. Without investor protection and without regulation on the cost of financing, small and medium-sized businesses, those critics say, may be left in a tighter cash bind than they were before.

Regulation 100

Regulation Lending Industry Fraud 100

Bank Innovation

NOVEMBER 21, 2016

The Financial CHOICE Act, proposed by Texas Congressman Jeb Hensarling earlier this year, is a measure aimed at overturning or heavily modifying many of the regulations put in place after the 2008 financial crisis. The act has recently fallen under scrutiny from Wall Street as the president-elect championed a lessening of Read More.

Texas 150

Texas Fintech Regulation Management 150

Banking 2020

DECEMBER 18, 2014

The change in regulation as laid out in the spending bill for 2015 has to do with the area loosely described as loan swaps. Even those not well-versed in trading can remember that these risky instruments were at the epicenter of the financial services industry meltdown in 2008. Insights bailout regulation'

Regulation 86

Regulation social media FDIC Industry 86

PYMNTS

FEBRUARY 4, 2019

Banks, credit unions and other financial institutions have a significant responsibility, one that goes far beyond managing customers’ financial assets: They’re tasked with safeguarding the financial services ecosystem against bad actors, money launderers and other criminals. A DIY Approach To AML/KYC.

How To 161

How To Regulation Compliance Meeting 161

PYMNTS

MAY 23, 2016

Against a backdrop where regulations have grown by leaps and bounds in the wake of the financial crisis, The Wall Street Journal reported that banks have taken on tens of thousands of new staffers tied exclusively to compliance. Will artificial intelligence help banks navigate the complexities of compliance more effectively? Which are not?

Compliance 103

Compliance Management Survey Course 103

Abrigo

DECEMBER 14, 2014

Many would point to imprudent lending standards as a leading cause of the financial crisis of 2008, and in turn, financial institution regulators have since bolstered lending standards and capital thresholds as a preventive measure against a similar crisis.

Guidelines 223

Guidelines Payments Lending Capital 223

PYMNTS

JANUARY 21, 2020

Global Economics Group (GlobalEcon) has branched out in China with the opening of an office in Shanghai, its second location in the country, the economic management consulting firm announced on Tuesday (Jan. Vanessa Yanhua Zhang, and is also comprised of economic experts, senior economists, professional associates and managers.

Analysis 130

Analysis Boston Chicago New York 130

Abrigo

MARCH 6, 2015

While federal regulators only require this small number of banks to be subject to these particular stress tests, as outlined in the Dodd-Frank Act following the economic crisis of 2008, stress testing is becoming a critical part of financial institutions’ risk management strategies, regardless of their asset sizes.

Risk Management 150

Risk Management Capital Community Bank Regulation 150

PYMNTS

APRIL 30, 2019

Cross River and RS2 understand that technology innovators demand regulated, secure payment solutions that address dynamic, ongoing changes in the marketplace,” said Cross River Senior Vice President, Public Affairs Phil Goldfeder. “In RS2 builds payment solutions for upwards of 14 million merchants.

Digital Banking 179

Digital Banking Payments Software Fintech 179

PYMNTS

SEPTEMBER 13, 2016

13) the results of its research on how small businesses are managing the changes made to how they access financing. And in an interview with PYMNTS, Bizfi Founder Stephen Sheinbaum offers his own take on how alternative finance players are managing those changes, too. According to Sheinbaum, it all comes down to regulation.

Regulation 100

Regulation Survey Lending Capital 100

Insights on Business

MARCH 19, 2018

Up to 200 regulatory changes occur every day, varying from large scale regulation like Dodd Frank, to minute changes to the font and size of footnotes in regulation text. The cost of not being compliant is astronomical – since 2008, more than $50 billion in fines have been paid. Benefits of AI in the compliance chain.

Compliance 135

Compliance Meeting Regulation Comparison 135

PYMNTS

AUGUST 21, 2020

The company says is solution allows client banks to “engage their customers with more timely, relevant and personalized experiences when it comes to managing money.”. financial regulator Clive Adamson, the report said. The new digital bank is expected to be chaired by former U.K.

Report 173

Report Digital Banking Technology Lending 173

Accenture: Banking

FEBRUARY 22, 2017

It’s a welcome development: financial regulation’s been increasing in complexity since 2008…and so has the compliance challenge. Increased bureaucracy damages customer retention and onboarding, while complex regulation can get in the way of innovation. There are hidden costs too.

Compliance 153

Compliance Regulation Innovation Fintech 153

Accenture: Banking

FEBRUARY 22, 2017

It’s a welcome development: financial regulation’s been increasing in complexity since 2008…and so has the compliance challenge. Increased bureaucracy damages customer retention and onboarding, while complex regulation can get in the way of innovation. There are hidden costs too.

Compliance 153

Compliance Regulation Innovation Fintech 153

PYMNTS

OCTOBER 15, 2020

It also includes some pretty intuitive and compelling case management and investigation functionality that streamlines the process of reviewing suspicious activity. The world saw this during the 2008-09 financial crisis, he pointed out, when fraud attempts doubled and, in some cases, tripled. The Pandemic Creates A Growing AML Need.

Company 243

Company Fraud Compliance Course 243

Independent Banker

JUNE 30, 2022

It’s like throwing a rock into a pond when you’re dealing with credit quality issues: The ripple effects are real, leading to issues in all areas of CAMELS (capital adequacy, asset quality, management, earnings, liquidity and sensitivity). Manage loan portfolio relationships proactively after the loan is funded.

Community Bank 171

Community Bank Community Lending Management 171

South State Correspondent

AUGUST 7, 2024

The question is interesting given that almost every bank is going after the high-balance commercial customer, and most do that by highlighting their analyzed transaction account product within treasury management. Background on Account Analysis After the 2008 financial crisis, the Dodd-Frank Act was passed in 2010.

Analysis 195

Analysis How To Strategy Management 195

PYMNTS

NOVEMBER 5, 2018

Roughly a decade on, is it time to remove some of the rules governing the financial sector that took shape in the aftermath of the Financial Crisis of 2008? To that end, the Federal Reserve proposed last week that some rules be relaxed for 16 financial institutions — though the largest banks in the country are not among them.

Regulation 128

Regulation Guidelines New York Groups 128

PYMNTS

JULY 31, 2020

Department of the Treasury that charters and regulates financial institutions. government, joining just a few recipients since the 2008 financial crisis, Bloomberg News reported. As a national charter, the bank can offer credit and cash-flow management, the company said. OCC is an independent bureau of the U.S. Varo Bank N.A.

National 172

National Fintech San Francisco Connecticut 172

PYMNTS

DECEMBER 22, 2020

According to an order, the bank will have to put forth a plan to change the policies in 90 days, to show it's appropriately looking for illegal activity and reporting it regularly to the regulator, according to Reuters.

New York 151

New York Policies Report Operations 151

Abrigo

NOVEMBER 8, 2019

Stress Testing | 7 minute read Key Takeaways Stress testing is an important component of sound risk management. Some financial institutions may view stress testing as a “check the box” practice to satisfy regulators, but others are making the most out of the process. Stress testing and risk management. Now that's big.

Lending 150

Lending Risk Management Analysis Capital 150

FICO

SEPTEMBER 13, 2022

UK Credit Card Trends: From 2008 Crash to Cost-of-Living Crisis. Changes in card management, customer behaviour and regulations make card delinquencies and other trends very different from the crash of 2008. In 2008, it reached a peak of 4.5%. Darcy Sullivan. Tue, 11/10/2020 - 12:17. by Liz Ruddick. Average Spend.

Trends 52

Trends Cards Management Payments 52

PYMNTS

JANUARY 23, 2020

A Wells Fargo regulator is planning to slap former company executives with civil charges associated with their position in its retail banking scandals, people familiar with the matter told Bloomberg on Thursday (Jan. The OCC’s investigation shows regulators that individuals will be accountable along with the company itself.

Regulation 131

Regulation Community Bank Community Security 131

PYMNTS

OCTOBER 1, 2019

While the company will continue to operate in the asset management and general insurance spaces, Reliance shrunk its footprint by lowering its ownership in Reliance Nippon Life Asset Management from about one quarter to just over 4 percent. Last month Bloomberg reported that NBFCs in India have issued $1.5

Capital 109

Capital Lending Regulation Operations 109

BankInovation

APRIL 28, 2023

Silicon Valley Bank and federal regulators alike let poor management slide for several years — leading to the largest banking failure since 2008. SVB lacked board effectiveness, risk management and internal audits within its operations, and had 31 outstanding supervisory warnings when the bank collapsed in March.

Management 52

Management Risk Management Regulation Operations 52