Perficient

FEBRUARY 29, 2024

This blog was co-authored by Perficient’s Chief Strategist and banking expert: Scott Albahary A slowing global economy, coupled with a divergent economic landscape, poses challenges for the banking industry in 2024. Facilitation of embedded lending while ensuring compliance: Embedded finance initiatives must adhere to regulatory requirements.

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Trends Industry Analytics Compliance 221

Perficient

NOVEMBER 21, 2024

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility.

Regulation 221

Regulation Guidelines Study System 221

Abrigo

JANUARY 24, 2024

FDIC list The state of acquisitions in a rising rate environment According to the FDIC, there were 44 banks on the problem bank list in the third quarter of 2023, and the agency expects that number to continue to climb in 2024. Find out what auditors and regulators will be looking for as it relates to CECL.

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Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector.

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New York Compliance Regulation Analysis 221

Abrigo

JANUARY 30, 2024

REGISTER Takeaway 1 Banking and compliance professionals rely on ThinkBIG to elevate their understanding of industry shifts and regulatory pressures. Banking and compliance professionals rely on the annual conference to elevate their understanding of industry shifts and regulatory pressures that hammer them daily.

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Conference Arizona Phoenix Fraud 195

Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence Perficient’s Risk and Regulatory Center of Excellence (CoE) remains at the forefront of evolving financial rules and regulations, ensuring readiness to tackle emerging challenges and safeguard financial institutions and its customers.

Compliance 221

Compliance New York Regulation Analysis 221

Abrigo

JUNE 28, 2024

Navigating interest rate management in today's environment As regulators focus on interest rate risk management, read about what financial institutions can do to be ready for a rate drop. You might also like this on-demand webinar, "Navigating uncertain times: Strategies for effective risk management and compliance." Upcoming exam?

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Community Bank Strategy Community Management 195

Abrigo

SEPTEMBER 6, 2024

FinCEN's 2024 real estate and investment advisory rules FinCEN is tightening the reins on residential real estate money laundering and investor advisers. This includes monitoring their activities, understanding their client base, and ensuring they adhere to the same standards as other regulated entities. Here is what you need to know.

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Compliance Training Fraud Regulation 195

PYMNTS

DECEMBER 10, 2020

billion by 2024 at a compound annual growth rate (CAGR) of 6.18 Government regulators and cryptocurrency exchanges are frantically looking for ways to regulate and prevent the laundering of stolen money through cryptocurrencies, with some methods showing more promise than others. billion in 2019 and is projected to reach $1.4

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cryptocurrency Compliance Bitcoin Regulation 222

Perficient

JANUARY 23, 2024

This post has been updated to reflect FINRA Regulatory Notice 24-02, issued January 23, 2024. Additionally, these branches underwent annual on-site inspections to ensure compliance with regulations. What’s New? The shift to remote work prompted significant lifestyle and work habit changes, fostering workplace flexibility.

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Perficient

OCTOBER 15, 2024

Lets talk about data governance in banking and financial services, one area I have loved working in and in various areas of it … where data isn’t just data, numbers aren’t just numbers … They’re sacred artifacts that need to be protected, documented, and, of course, regulated within an inch of their lives.

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Tools Data Compliance Regulation 221

Perficient

DECEMBER 27, 2023

Once published by regulators, Perficient’s Risk and Regulatory CoE will be here to walk our clients through the changes. YOU MAY ENJOY: Regulatory Reporting in Financial Services Modernizing CRA Regulations Managing compliance risk frameworks in alignment with existing risk profiles is crucial as customer needs evolve.

Compliance 221

Compliance FDIC Regulation Fraud 221

PYMNTS

DECEMBER 8, 2020

Cybercriminals are constantly one step ahead of government regulators, developing new and inventive schemes faster than the authorities can quash them. billion by 2024. Many banks and government regulators have a growing sense of distrust in cryptocurrency exchanges due to this widespread lack of compliance.

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cryptocurrency Mobile Compliance Analysis 261

Abrigo

JANUARY 3, 2024

1, 2024, many companies must begin reporting information about who ultimately owns or controls them to a federal beneficial ownership registry. 1, 2024, many companies are required to begin reporting to the U.S. 1, 2024, have one year (i.e., This is in line with the current CDD regulations. Effective Jan.

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Fraud Regulation Report Compliance 221

Abrigo

MAY 30, 2023

But compliance deadlines are tiered. 1, 2024, and report for the first time by June 1, 2025. 1, 2024, and report for the first time by June 1, 2025. June 28, 2023, based on the Code of Federal Regulations and the March 30 publication). June 28, 2023, based on the Code of Federal Regulations and the March 30 publication).

Compliance 195

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Perficient

NOVEMBER 21, 2024

The first compliance deadline of April 1, 2026, impacts the largest organizations. The compliance deadline, however, depends on the firm’s total receipts from calendar years 2023 and 2024. The compliance deadline, however, depends on the firm’s total receipts from calendar years 2023 and 2024.

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Compliance Data Cards Meeting 221

Abrigo

JULY 9, 2024

Takeaway 2 Financial institutions will need to incorporate FinCEN's national AML/CFT priorities into their risk assessments and compliance programs. On June 28, 2024, FinCEN issued the long-awaited Proposed Rule to Strengthen and Modernize Financial Institution AML/CFT Programs. These include establishing: Governance mechanisms.

Compliance 221

Compliance Fraud Regulation National 221

Perficient

DECEMBER 21, 2023

Regulators to Bank Boards: “Debt is Good” Crucial Update: Extension of the Comment Period Since Perficient’s Risk and Regulatory Compliance Center of Excellence (CoE) analyzed this decision in September, a significant development has occurred. Learn More: U.S.

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DC FDIC Washington Compliance 221

Perficient

DECEMBER 1, 2023

Despite this proactive approach, federal banking regulators either neglected to review the same documents or did so without taking necessary action before the bank failed. Commencing with the first quarterly assessment period of 2024 (i.e., Contact us today to navigate the evolving landscape of risk and regulation successfully.

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FDIC Risk Management Regulation Leadership 221

Perficient

JANUARY 3, 2024

Additionally, these branches underwent annual on-site inspections to ensure compliance with regulations. This shift also led to technological advancements enabling firms to closely monitor broker activity to ensure full compliance at all times. What’s New?

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Compliance Risk Management Regulation Industry 221

Abrigo

FEBRUARY 14, 2024

You might also like this on-demand webinar, "AML/CFT hot topics for 2024: What to expect for financial crime." WATCH NOW Takeaway 1 Reduce stress and mitigate financial and compliance impacts Takeaway 2 AML employee succession plans should be “living” documents. What tasks are required per regulations?

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Training Fraud Compliance Regulation 195

Abrigo

OCTOBER 30, 2024

Increasing efficiency of compliant AML investigations To boost AML program productivity and keep pace with evolving compliance demands, financial institutions should focus on strategic operational improvements paired with the smart use of technology. See tailored AML/CFT solutions that can improve your compliance. Learn more 1.

Compliance 221

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Abrigo

FEBRUARY 10, 2023

Keep leadership informed on AML/CFT trends to ensure a strong culture of compliance at your financial institution. Introduction Corporate Transparency Act guidance FinCrime professionals have been on high alert for new regulations since the Anti-Money Laundering Act of 2020 (AMLA) was signed into law, but updates have been slow to arrive.

Fraud 195

Fraud Training Regulation Compliance 195

Perficient

APRIL 18, 2024

Open banking transforms the way financial data is shared and accessed, allowing third-party data providers and other banks to access financial data in traditional banking systems through application programming interfaces (APIs). Traditionally, banks hoarded financial data, sharing it sparingly on a need-to-know basis.

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Cards Data Regulation Apple 221

Abrigo

NOVEMBER 22, 2024

Institutions using FRAML often find themselves better positioned to identify suspicious activities linking fraud and money laundering, potentially reducing compliance costs while improving outcomes. However, institutions must be cautious to ensure compliance requirements for fraud and AML aren’t compromised.

Fraud 195

Fraud Training Risk Management Compliance 195

PYMNTS

JANUARY 12, 2021

The advantages of outsourcing the back-end integrations and compliance issues tied to, say, international markets can accrue swiftly to corporates’ bottom lines, free up resources and streamline back-end processes. billion in 2024, PYMNTS reported in The FI’s Guide to Modernizing Digital Payments. PaaS could be worth as much as $16.7

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South State Correspondent

JANUARY 16, 2024

Bloomberg recently announced that it will shut down its BSBY index on November 15, 2024. BSBY was not well received by US regulators from its inception, but the market eventually embraced SOFR over BSBY. No additional reporting or regulatory compliance for the lender or the borrower. No ISDA documents.

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Community Bank Community Compliance CA 195

American Banker

DECEMBER 2, 2024

As 2024 comes to a close, trends such as open banking, fights over credit card fees and the future of faster payments are still in flux.

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Payments Trends Cards cryptocurrency 81

American Banker

DECEMBER 26, 2023

The crypto landscape is poised for significant developments in 2024, including a focus on tokenization, legislative uncertainties, a regulatory tug-of-war between the SEC and CFTC, and a potentially bullish year for Bitcoin.

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Bitcoin Policies cryptocurrency Compliance 88

American Banker

MARCH 20, 2024

How the FDIC, the Federal Reserve and other regulators are working to keep banks in compliance through 2024.

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FDIC Compliance Regulation Risk Management 83

Abrigo

SEPTEMBER 30, 2024

You might also like this 6-step guide for compliance with new AML/CFT program rules. This approach is not just a best practice; it’s quickly becoming a necessity for effective compliance. It’s not just about compliance anymore; it’s about building a more efficient and effective program to keep up with evolving threats.

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Management Fraud Software Compliance 195

CFPB Monitor

FEBRUARY 12, 2024

The final rule became effective in 2020, and the Memorandum requires licensees to comply by March 31, 2024. Continue Reading

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South Dakota Compliance Regulation 78

American Banker

DECEMBER 25, 2023

Federal regulators will look to finalize capital rules for banks with at least $100 billion of assets. Here's what to look for as the contentious regulations move through the rulemaking process.

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Independent Banker

DECEMBER 31, 2022

The FDIC issued guidance about the consumer compliance risks associated with assessing NSF arising from the re-presentment of the same unpaid transaction. On May 5, 2022, the federal bank regulators jointly released a notice of proposed rulemaking (NPR) to strengthen and modernize the Community Reinvestment Act (CRA) regulations.

Compliance 100

Compliance FDIC Community Bank Community 100

Abrigo

JANUARY 22, 2024

These tips can help ensure compliance while improving your offerings. billion in losses globally last year, according to Nasdaq’s  2024 Global Financial Crime Report. For 6 Steps t o mitigate fraud risk tied to new products Your AML and fraud teams' input is key when it comes to offering new bank products.

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Fraud Risk Management Training Software 221

Abrigo

FEBRUARY 14, 2023

Data collection requirements The CFPB 1071 rule is a top compliance concern According to a recent survey , financial institution executives’ top regulatory compliance concern is the final rule from the Consumer Financial Protection Bureau (CFPB) on data collection for small business loan applications.

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Data Lending Compliance Resources 195

Gonzobanker

FEBRUARY 1, 2024

For the bankers we talked with, acknowledging challenges—think NIM, credit, regulation, election uncertainty, unemployment and CRE—while portraying resilience created quite a few compelling narratives throughout the event. Well, we’re in 2024 and let’s talk about that “promising outlook” that seems to be building toward Q3.

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Conference FDIC Arizona Industry 88