PYMNTS

JANUARY 18, 2019

Regulators in the United States have reportedly met to discuss levying fines against social media giant Facebook , a punishment that could be sizable in scope and which comes in the wake of privacy violations. The government shutdown currently underway has meant that regulators have not as of yet responded to the Friday reports.

Regulation 128

Regulation social media United States Data 128

PYMNTS

DECEMBER 19, 2018

securities regulator is having trouble with rating agencies because it doesn’t have the tools or specific knowledge it needs to analyze huge amounts of rating data, according to a report from Reuters. There were gaps, though, and internal emails showed there was some confusion as to which department should handle the issue.

Regulation 128

Regulation Data Analysis Compliance 128

PYMNTS

SEPTEMBER 1, 2020

The Bank for International Settlements (BIS) said in a recent report that the number of correspondent banks — where banks and financial institutions (and domestic payment systems) are linked together — slipped 3 percent in 2019 vs. 2018 and declined a significant 22 percent from 2011 to 2019.

blockchain 307

blockchain System National Payments 307

PYMNTS

MAY 31, 2016

And the regulations just keep coming. As noted in The Wall Street Journal Tuesday , the fact remains that lenders are “awash in new regulations,” with swelling ranks of both interpreters and enforcers bringing “striking changes” to banks and their own internal day-to-day mindsets and operations. Regulators monitor chat rooms.

Regulation 100

Regulation Compliance Industry Course 100

CFPB Monitor

APRIL 28, 2016

The CFPB has issued a final rule that adopts as final, the interim final rules issued by the CFPB in December 2011 in connection with the Dodd-Frank Act’s general transfer of rulemaking authority to the CFPB for the consumer financial protection laws implemented by such rules. ”

Regulation 60

Regulation Policies 60

CFPB Monitor

NOVEMBER 27, 2018

CC , which implements the Expedited Funds Availability Act (EFA Act), and also reopened for public comment various amendments that the FRB had proposed in March of 2011. CC, including a clarification in the regulation that the FRB and CFPB have joint rulemaking authority under certain provisions of the EFA Act.

Regulation 60

Regulation Samoa Guam System 60

PYMNTS

NOVEMBER 10, 2020

New York-headquartered PAAY, a consumer authentication innovator co-founded in 2011 by James Ruffer and Yitz Mendlowitz, has a new security solution that aims to obliterate hacking and fraud threats. Each $1 of fraud costs retailers $3.13. .

Security 233

Security New York Atlanta Fraud 233

PYMNTS

APRIL 9, 2019

The list was first made back in 2011, noted the report. The revised list now includes mining for bitcoin among more than 450 other practices that the National Development and Reform Commission said should be removed because they didn’t meet current laws and regulations, were deemed unsafe, wasted resources or harmed the environment.

Bitcoin 187

Bitcoin cryptocurrency National Regulation 187

Perficient

AUGUST 16, 2023

In 2011, Hanes put together a local investment group that purchased the bank from its former holding company, and he became President and CEO of the new bank. 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.

United States 221

United States Kansas FDIC Risk Management 221

PYMNTS

OCTOBER 13, 2020

Department of Justice, which said in a report that rogue nations and other risks loom as exchanges are lightly (or not at all) regulated – making it difficult to, as the maxim goes, follow the money. That’s according to the U.S. In the report from the U.S.

cryptocurrency 206

cryptocurrency United States social media Regulation 206

PYMNTS

APRIL 12, 2018

Consumer Watchdog pointed out that Facebook’s latest breach violates its 2011 consent decree with the FTC, adding that the social media giant should be fined. It would also give enforcement authority to the Federal Trade Commission (FTC). Congress cannot trust Zuckerberg to take action in the interest of the American people on his own.

Regulation 101

Regulation social media United States Online 101

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., That’s up eight percentage points from a year ago, according to the data.

Regulation 108

Regulation Study Google Taxes 108

CFPB Monitor

JULY 21, 2020

The CFPB currently has a job posting for the position of Associate Director for Research, Markets, and Regulations. Thomas Pahl, who was named CFPB Deputy Director earlier this month , has held the position of CFPB Policy Associate Director for Research, Markets, and Regulations since April 2018.

Regulation 78

Regulation Marketing Policies 78

PYMNTS

SEPTEMBER 24, 2020

FIs that offer remittances must also comply with a variety of regulations intended to help ensure that terrorists and other criminals are unable to abuse the services to finance illicit operations and hide ill-gotten funds. Maintaining compliance with these important regulations can be challenging, but FIs cannot afford to slip up.

Compliance 223

Compliance Tools Fraud Regulation 223

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.

Regulation 195

Regulation Training Study Policies 195

Gonzobanker

MAY 14, 2021

This week marks the 10 th anniversary of the Durbin Amendment (Regulation II) to the Dodd-Frank law that went into effect on Oct. Non-regulated financial institutions should be grateful that it has taken the Federal Reserve this long to officially muck up the current legislation. Fast forward to today. Let’s look at the math of this.

Cards 154

Cards Regulation Conference Online 154

Jeff For Banks

APRIL 6, 2021

The period analyzed was immediately prior to the commencement of CFPB oversight in 2011, and afterward. The first was regulator arbitrage, where a bank decides to have an activity regulated by one entity rather than another because of the perception that the chosen regulator will be less risky to them. This is good.

Regulation 78

Regulation Philadelphia Study Lending 78

The Paypers

OCTOBER 28, 2024

Bitstamp , a cryptocurrency exchange established in 2011, has received a MiFID Multilateral Trading Facility (MTF) licence.

Regulation 69

Regulation cryptocurrency 69

Abrigo

FEBRUARY 25, 2022

Codified risk-based approach The AMLA codified the risk-based approach for the first time, and a thorough risk assessment is necessary to justify businesses to your regulators. ?As As regulators get up to speed with new FFIEC Exam Manual updates, you may need to remind them that not all groups of customers present the same risk.

Regulation 195

Regulation Policies Compliance Washington 195

PYMNTS

JANUARY 7, 2020

In today’s top news, 2019 is on track to be the second-best year after 2011 for startups worth over $500 million, Toyota unveiled plans for a smart city in Japan, and ExxonMobil and Fiserv have teamed up to let people pay with Alexa at the gas pump. Alphabet Shares Soar Despite Regulator Scrutiny.

Las Vegas 130

Las Vegas US Payments Capital 130

PYMNTS

OCTOBER 3, 2016

In 2011, publicly traded companies were instructed by the SEC to report attacks that could have a “material adverse effect on the business;” however, there was no strict definition of such events. The reason, according to lawyers, is that breaches are difficult to assess and whether they have an adverse effect is not always straightforward.

Guidelines 185

Guidelines Security Data Company 185

TheGuardian

MARCH 16, 2021

Regulator says bank failed to exercise controls over £264m in cash allegedly paid into customer’s accounts The City watchdog has begun criminal proceedings against the taxpayer-owned lender NatWest for allegedly failing to prevent money laundering, the first prosecution brought under money laundering regulations introduced in 2007.

Exercises 98

Exercises Regulation Groups 98

Abrigo

JANUARY 9, 2017

“Levels of impaired loans have steadily declined since 2011 and are down below 1.20% or nearly 50% lower than where they were in 2010,” said Sageworks Director of Consulting Aaron Lenhart.

Analysis 150

Analysis Policies Compliance Meeting 150

PYMNTS

APRIL 18, 2019

An internal investigation at Deutsche Bank has found that it processed at least €175 million (nearly $197 million USD) in dirty money for Russian criminals between 2011 and 2014. According to Financial Times , the money was part of a $20 billion scheme known as the “Russian Laundromat,” which was leaked from a supervisory board presentation.

Regional 155

Regional Regulation Payments Management 155

BankUnderground

DECEMBER 8, 2021

The assessment methodology was first published in 2011 alongside an initial list of G-SIBs. For instance, the diverging response to regulation by more and less profitable G-SIBs uncovered in our analysis argues in favour of continuous monitoring by supervisors. This is true for the G-SIB framework as well.

Regulation 126

Regulation Analysis Capital System 126

Abrigo

MARCH 20, 2020

Based on our initial review of the letter, we agree with the need for close coordination with the SEC and banking regulators to address issues associated with loan modifications,” said FASB spokeswoman Christine Klimek in an email statement to Abrigo. ASU 2011-02 - Determination of Whether a Restructuring is a Troubled Debt Restructuring.

How To 195

How To FDIC Policies Course 195

Jeff For Banks

FEBRUARY 6, 2011

The productive view about the similarity of EAs is why haven’t we been doing some of the things required by regulators in the first place? Banking is a highly regulated industry, and has been since the Great Depression. Given the highly regulated environment, bankers are kept in a tight box of things they can and can’t do.

Regulation 70

Regulation FDIC National Capital 70

PYMNTS

JANUARY 28, 2019

Card networks, under pressure from regulators, modified their rules in 2013 to allow merchants to surcharge – basically ending the ban – under very specific conditions and with very tight parameters for how to calculate that surcharge. And then regulators are forced to backtrack. The ability for merchants to surcharge in the U.S.

Regulation 181

Regulation Cards Boston Innovation 181

PYMNTS

FEBRUARY 7, 2019

Tightening regulations have introduced loftier compliance burdens to global supply chains, made even more complex and challenging as companies do business with thousands of vendors across borders. food retail market with the adoption of the Food Safety Modernization Act (FSMA), introduced by legislators in 2009 and signed into law in 2011.

Compliance 164

Compliance Retail blockchain Regulation 164

PYMNTS

JUNE 18, 2019

They are being asked to contribute their collective experiences in operating global, regulated payments and financial services networks to shape Libra’s charter and frame its governance structure. Facebook says that it is currently in discussions with regulators, who they claim, are eager to engage in conversations with them about it.

Payments 246

Payments Regulation blockchain cryptocurrency 246

PYMNTS

JUNE 17, 2020

In addition, the total number of problem banks the FDIC was watching rose for the first time since 2011, with 54 firms in the first quarter, up from 51. According to the Federal Deposit Insurance Corporation (FDIC), over half of all banks ended up reporting a decline in profits, and 7.3 billion, Reuters wrote.

FDIC 203

FDIC US Lending Report 203

Abrigo

AUGUST 7, 2023

Takeaway 2 Regulators say management should periodically validate the loss estimation process for the allowance for credit losses (ACL) and any changes to it. Regulators have noted such risks can involve financial losses, poor business and strategic decision-making, or damage to a bank’s reputation.

Risk Management 195

Risk Management Handbook Analysis Management 195

Abrigo

AUGUST 1, 2022

Takeaway 2 Even small banks or credit unions not regulated by the Federal Reserve are required to address control risks from models. As financial regulators have noted , this oversight is important because of the "possible adverse consequences (including financial loss) of decisions based on models that are incorrect or misused.”

Risk Management 195

Risk Management Management Regulation Analysis 195

PYMNTS

AUGUST 21, 2018

That prompted an individual in San Diego to launch a lawsuit against Google , while activists are wondering if the practices violate the company’s 2011 agreement with the FTC. The potential FTC inquiry comes as Google has been getting slammed by regulators in recent months.

Google 100

Google San Diego California Exercises 100

TheGuardian

DECEMBER 14, 2021

Independent review finds City regulator changed compensation rules after pressure from UK banks Sajid Javid and George Osborne put pressure on the City’s financial regulator to reduce compensation payouts from big banks to small business victims of a mis-selling scandal, an independent review has found. Continue reading.

Regulation 82

Regulation Groups Payments 82

PYMNTS

MARCH 9, 2020

The arrangement still must receive approval by regulators in Malaysia and Thailand. South Korea and Japan, and also relinquished some control of its Chinese operations as of 2011. Tesco said it plans to give back $6.52 billion to shareholders via a special dividend with “associated share consolidation,” per the report.

Groups 130

Groups Taxes Resources Operations 130

Abrigo

JUNE 17, 2015

And many of the risks associated with agriculture lending are out of borrowers’ control, according to the OCC: • weather • pricing • domestic and global supply and demand changes • disease • land values • government regulations • subsidy programs and • changes in consumers’ preferences.

How To 150

How To Kansas City Lending Analysis 150