CFPB Monitor

JANUARY 27, 2020

The CFPB published a policy statement in today’s Federal Register to announce that, going forward, it is establishing a new “Compliance Aids” designation for certain Bureau guidance. In the Supplementary Information accompanying the Policy Statement, the Bureau gives examples of compliance resources it has previously released.

Resources 78

Resources Policies Compliance Exercises 78

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

Compliance Training System Management 221

CFPB Monitor

OCTOBER 19, 2022

We have our first-ever federal court opinion evaluating the requirements of Regulation F! Reading Regulation F out loud” is more like it. The Question: Does Regulation F require debt collectors to use the CFPB’s model validation notice (“MVN”) to comply with the FDCPA? It’s official! See id. § 1006.34(d)(2). Id. § 1006.34(d)(2)(i)….The

Regulation 78

Regulation Compliance Analysis Exercises 78

BankInovation

OCTOBER 5, 2022

It may just be that banking-as-a-service (BaaS) providers and fintechs have grown into unique and now mature collaborators that justify updated and revised requirements from regulators. Earlier this month, Acting Comptroller of the Currency Michael J.

Exercises 97

Exercises Fintech Conference Policies 97

CFPB Monitor

OCTOBER 14, 2019

The California Attorney General’s Office released its long-awaited proposed CCPA regulations last week. respond to consumer requests to access or delete household information; respond to requests to opt-out; respond to requests to opt-in after consumers exercise their right to opt out of the sale of personal information; and.

California 60

California Regulation Exercises Compliance 60

Perficient

MARCH 3, 2022

Federal bank regulators work together to design Comprehensive Capital Analysis and Review (“CCAR”) stress tests that are designed to ensure that even in the case of a severe recession, significant banks can lend to households and businesses. As repeated by federal bank regulators, the required economic scenarios are not forecasts.

Capital 294

Capital Regulation United States Exercises 294

FICO

MARCH 6, 2020

Visma Connect recently interviewed Jürgen Krieg, FICO's head of global compliance sales. In this excerpt from that article, Jürgen elaborates on the importance of compliance. . At FICO, I am responsible for planning and implementing growth strategies to develop new markets, and the expansion of our compliance business globally.

Compliance 81

Compliance Technology Fraud Analytics 81

PYMNTS

NOVEMBER 16, 2020

Regulation. Tencent Holdings President Martin Lau said further regulations are needed in China to mirror a “new reality.”. As technology companies become bigger and more important to the economy, I would say more regulations to reflect the new reality are needed," Lau said, according to the report.

Maryland 151

Maryland Taxes Online Groups 151

CFPB Monitor

MAY 15, 2020

The CFPB has issued a statement regarding its supervisory and enforcement approach to Regulation Z billing error resolution timeframes in light of the COVID-19 pandemic. Until a creditor resolves a billing error in compliance with the Regulation Z procedures, the creditor is subject to the following requirements in Section 1026.13(d):

Regulation 78

Regulation Exercises Compliance Examples 78

CFPB Monitor

AUGUST 4, 2020

Recently, the federal banking regulators issued four new sets of examination procedures. The booklet contains examination procedures regarding supervision of OCC-regulated banks and savings associations related to Section 5 of the Federal Trade Commission Act (“UDAP”) and Sections 1031 and 1036 of the Dodd-Frank Act (“UDAAP”).

Handbook 78

Handbook Regulation CA Exercises 78

PYMNTS

DECEMBER 19, 2019

A total of 41 apps were found to be not in compliance of user data rules, according to regulators, and violations included improperly collecting or using information about visitors to their services. The rules of the regulators are secret, but discussion of politically sensitive topics has been known to disappear from websites.

social media 130

social media Regulation Exercises Policies 130

PYMNTS

NOVEMBER 12, 2020

It will be run by Payments Canada and regulated by the Bank of Canada. EDPB Recommends Steps For Data Exporters To Ensure GDPR Compliance. Supervisory authorities will continue exercising their mandate to monitor the application of the GDPR and enforce it,” the EDPB said in its recommendations.

Payments 142

Payments Fintech Exercises Risk Management 142

Chris Skinner

MARCH 10, 2017

Any bank outsourcing such functions opens themselves up to regulatory risk: The requirements are primarily there to ensure that the outsourcing of the regulated activity, service or function does not lead to an outsourcing of responsibility by the entity in question, or pose a barrier to effective supervision of the specific entity by a regulator.

Regulation 219

Regulation Exercises Guidelines Data 219

Abrigo

MARCH 11, 2022

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. Takeaway 3 NBFIs should review common deficiencies in AML programs that regulators are citing and fix issues before their next audit or exam.

Regulation 195

Regulation cryptocurrency Policies Management 195

PYMNTS

MARCH 14, 2019

From this day forward (March 14), businesses covered by the European Union’s (EU’s) Second Payment Services Directive ( PSD2 ) are supposed to have a testing regime that conforms to the FinTech regulation. Trust and reluctant banks are not the only problems for PSD2 compliance. However, that’s only the foreshadowing. PSD2 Mindset.

Exercises 188

Exercises Regulation Innovation Fintech 188

PYMNTS

DECEMBER 26, 2019

A total of 41 apps were found to be not in compliance of user data rules, according to regulators, and violations included improperly collecting or using information about visitors to their services. The apps must comply by Dec. In 2014, Sina lost its license after facing charges of allowing lewd video content to be posted.

cryptocurrency 131

cryptocurrency Company blockchain Exercises 131

Abrigo

DECEMBER 13, 2023

Well-documented adjustments will please regulators. Above-the-line/below-the-line testing is a statistical exercise that rigorously analyses transaction monitoring parameters to identify the optimal settings for suspicious activity monitoring for your institution’s unique risk profile.

Training 221

Training Fraud Software Regulation 221

CFPB Monitor

NOVEMBER 22, 2022

As previously reported in February 2019 federal regulators issued a joint final rule (the “Joint Final Rule”) to implement provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 (the “Act”) that require regulated financial institutions to accept private flood insurance policies.

Policies 148

Policies Meeting Exercises Regulation 148

PYMNTS

NOVEMBER 7, 2019

Earlier studies found a surprising lack of both consumer and merchant awareness about the European Union’s Strong Customer Authentication (SCA) and second Payment Services Directive ( PSD2 ) regulations. Only 63 percent of compliance laggards said the same. Post-SCA deadline, a lack of readiness persists. The Benefits of SCA .

Regulation 123

Regulation Survey California Retail 123

CFPB Monitor

SEPTEMBER 13, 2018

The Interagency Statement begins by clarifying the agencies’ position as to the difference between supervisory guidance and laws or regulations and provides: “Unlike a law or regulation, supervisory guidance does not have the force and effect of law, and the agencies do not take enforcement actions based on supervisory guidance.”

Regulation 60

Regulation Exercises Compliance National 60

PYMNTS

JUNE 6, 2019

When new regulations take effect, especially sweeping ones that impact eCommerce, at least some firms take a “wait-and-see” approach. As McLain noted, when it comes to privacy and GDPR for merchants, “at the end of the day, it’s about allowing consumers to exercise their rights under that regulation.” Call it the chain of doubt.

Fraud 180

Fraud Exercises Regulation Study 180

CFPB Monitor

MAY 2, 2022

According to the court, the credit unions had failed to show the chief administrative judge had either the authority or “willingness to exercise [his] duty” to enforce the rate reduction law, and therefore failed to demonstrate a likelihood of success as to that state official.

New York 147

New York Exercises Policies Compliance 147

PYMNTS

MAY 16, 2018

May marks the debut of new compliance efforts – key among them, of course, GDPR (which covers Europe but touches these shores), and as of last week, new customer due diligence mandates. . The report recommends a collaborative approach among information security and compliance team members.

Fraud 100

Fraud Compliance Cleveland Ohio 100

PYMNTS

DECEMBER 14, 2017

The eyes of the financial services world are on the EU’s upcoming PSD2 regulations, with many jurisdictions watching how the European market evolves and responds to regulations that support data sharing and open banking, while maintaining data security. Risk of Non-Compliance. Open To Interpretation.

Data 124

Data Compliance Regulation Survey 124

CFPB Monitor

JANUARY 28, 2015

Mishkin In a new compliance bulletin (2015-01), the CFPB reminds supervised financial institutions, including nonbanks, of their obligations regarding the disclosure of confidential supervisory information (CSI).

Compliance 60

Compliance Regulation Exercises Course 60

CFPB Monitor

APRIL 12, 2021

That statement is rescinded as of April 1, 2020, and in the rescission document, the CFPB announces its intent to exercise its supervisory and enforcement authority consistent with the Dodd-Frank Act and with the full authority afforded by Congress consistent with the Bureau’s statutory purpose and objectives.

Policies 78

Policies Exercises Operations Regulation 78

PYMNTS

JANUARY 3, 2020

Speed, scale and engagement — if you say it a few times, really get your vocal cords and mouth into the exercise, there’s a certain snap to those words put together like that. Sure, legacy inertia is a significant force to overcome, especially given all the auditing and compliance regulations such companies must adhere to.

Payments 209

Payments Innovation Maine Compliance 209

Abrigo

JUNE 9, 2016

Services geared toward compliance, meanwhile, are typically needed but not necessarily wanted, so clients continue to push for the cheapest options. One simple exercise for exploring this is to pick any client who is currently receiving only one service from the firm but with whom staff typically enjoy working.

Exercises 150

Exercises Taxes Training Risk Management 150

PYMNTS

APRIL 30, 2018

The deadlines for compliance with new European data regulations are right around the corner, and the impact of these changes won’t be limited to the European Union. The General Data Protection Regulation (GDPR) goes into effect on May 25 of this year. According to Ethoca, neither should preparations for the shift.

Fraud 138

Fraud Regulation Data Compliance 138

Independent Banker

MARCH 15, 2015

Five secrets to building a strong compliance culture. What’s your community bank’s compliance culture? It’s a question regulators are asking more often these days. Examiners increasingly want institutions to demonstrate a strong commitment to compliance, from the board of directors down to the rank and file.

Compliance 70

Compliance Community Bank Community Regulation 70

CFPB Monitor

JULY 8, 2021

According to the Assessment, no-action letters will be the subject of future regulations promulgated by FinCEN. Cross-Regulator No-Action Letters. The Assessment first considers the prospect of “cross-regulator no-action letters.”

Industry 78

Industry Regulation Exercises Resources 78

PYMNTS

JUNE 14, 2018

If so, some European regulators might like what’s going on with California in regards to digital privacy. The act “brings GDPR [General Data Protection Regulation] to the U.S.,” The Act would also prevent businesses from discriminating against consumers who exercise those rights.”.

California 125

California US Regulation Analysis 125

FluentBanking

MARCH 27, 2020

Vacancy Not specific Job Context Job Location: Dhaka, Bangladesh (subject to transfer to any other location within the country) Job Responsibilities To perform risk calculation & analysis exercise for market and liquidity risk management (i.e. sensitivity analysis, stress testing, VAR etc.) from a reputed university will be preferred.

Guidelines 52

Guidelines Compliance Exercises Analysis 52

CFPB Monitor

APRIL 2, 2020

The CFPB has issued a policy statement concerning COVID-19 considerations that will be relevant to how the CFPB chooses to exercise its supervisory and enforcement authority regarding compliance with the Fair Credit Reporting Act and Regulation V, especially in light of the CARES Act.

Report 78

Report Policies Compliance Exercises 78

PopularBank

JULY 23, 2024

However, overall, AI in the US remains largely unregulated, and companies must exercise extra caution in its implementation. Skilled Nursing is one of the most highly regulated industries, with many of its programs governed by the U.S. Department of Health and Centers for Medicare and Medicaid Services.

Training 52

Training Data Exercises Industry 52

American Banker

MARCH 13, 2024

to exercise transparency and expedience in evaluating industrial loan company applications, which grant a type of charter industry experts say is unlikely to be issued in this administration. A bipartisan group of senators called on the Federal Deposit Insurance Corp.

FDIC 36

FDIC Exercises Groups Industry 36

Abrigo

FEBRUARY 24, 2022

Regulators expect a well-managed financial institution to look at interest rate risk through two different lenses: Earnings at risk (EAR)/income at risk (IAR) – Measures short-term risk; changes to the income statement. When going through this exercise, remember the relationship between risk and return. Sources of interest rate risk.

Management 195

Management Analysis Strategy Policies 195