PYMNTS

FEBRUARY 25, 2019

As regulators overseeing non-banks, our goals are clear: Ensure the safety and soundness of the financial system, protect consumers and streamline the multistate experience,” said Mark Quandahl, chairman of the CSBS Emerging Payments & Innovation Task Force, in a statement.

Regulation 147

Regulation Fintech Community Bank Community 147

PYMNTS

SEPTEMBER 20, 2019

Google CEO Sundar Pichai said politicians should take a measured approach when thinking about regulating artificial intelligence (AI), and that many of the rules already in place would work for legislating the new technology. We are for sure definitely approaching things more deliberately than before,” he said.

Google 122

Google Regulation Training Innovation 122

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. This definition is different from existing customer due diligence (CDD) rules that took effect in 2018.

Fraud 221

Fraud Regulation Report Compliance 221

PYMNTS

MARCH 14, 2019

One axis is high value or high risk,” Maloney noted, “another axis is the need for compliance or highly regulated. The sweet spot there, obviously, is high value and highly regulated.”.

Innovation 148

Innovation Security Google Technology 148

PYMNTS

AUGUST 8, 2019

The New York State Department of Financial Services (NYDFS) has announced it will lead a multi-state investigation into alleged violations of state regulations of the short term lending industry, specifically in the area of payroll advances. It also illegal to attempt to collect one.

Puerto Rico 134

Puerto Rico Regulation New York South Dakota 134

PYMNTS

JULY 26, 2020

The Securities Commission Malaysia (SC) is planning to expand regulations to encompass digital asset wallet providers, adding to its frameworks that currently address Digital Asset Exchanges (DAX) and Initial Exchange Offering (IEO), the SC announced Thursday (July 23). “The Bitcoin is these things,” Chief Judge Beryl A.

Bitcoin 161

Bitcoin Regulation United States Operations 161

PYMNTS

JANUARY 16, 2020

This includes customers who meet the definition of a politically exposed person.”. In addition, any firms that carry out crypto asset related activity within the scope of the FCA’s regulations must register with the authority before conducting business. Final determination on that proposed ban could come early this year.

Regulation 132

Regulation cryptocurrency User Experience Operations 132

PYMNTS

JANUARY 10, 2020

After allegations of patent infringement by Koninklijke Philips and its North American unit, regulators with the United States International Trade Commission (USITC) said they will look into wearable monitoring devices with the inclusion of those made by Garmin and Fitbit , Reuters reported. Google was reportedly paying $7.35

Regulation 130

Regulation United States Google America 130

American Banker

AUGUST 1, 2024

Financial institutions have trouble pinning down a common definition of AI and figuring out which of their processes incorporate the technology. That can lead to trouble with regulators.

Regulation 88

Regulation Technology 88

Payments Source

JUNE 28, 2019

As lawmakers meet this week to discuss artificial intelligence, they should work with regulators to create universal and workable definitions.

Regulation 82

Regulation Meeting Digital Banking Fraud 82

CFPB Monitor

JUNE 29, 2022

The California Department of Financial Protection and Innovation (DFPI) has issued proposed regulations implementing certain provisions of the state’s Consumer Financial Protection Law (CFPL). The proposal contains definitions for various terms that it uses. Comments must be submitted by August 8, 2022.

California 78

California Regulation Innovation Management 78

Abrigo

OCTOBER 6, 2017

This summary outlines a new rule that would, among other things, clarify and simplify the definition of HVCRE loans. One intention of the proposed rule would be to replace the current definition of HVCRE with a more straightforward and simpler definition known as HVADC (high volatility acquisition, development, or construction).

Regulation 150

Regulation Risk Management Community Bank Community 150

PYMNTS

JUNE 20, 2018

Peer-to-peer car-sharing services might soon face the same regulation as traditional car rental companies. This month, for example, Maryland passed a bill that requires car-sharing companies to comply with regulations similar to rules for car rental companies, including paying sales tax.

Regulation 100

Regulation San Francisco Maryland Illinois 100

CFPB Monitor

SEPTEMBER 22, 2022

The public comment period for the notice of proposed rulemaking (“NPRM”) regarding the Motor Vehicle Dealers Trade Regulation Rule (the “Rule”) closed on September 15, 2022 after the FTC declined in August to extend it. In addition, AFSA and CBA provided practical suggestions and changes to the proposed Rule.

Regulation 148

Regulation Groups Retail Customer Experience 148

PYMNTS

JANUARY 10, 2020

After allegations of patent infringement by Koninklijke Philips and its North American unit, regulators with the United States International Trade Commission (USITC) said they will look into wearable monitoring devices with the inclusion of those made by Garmin and Fitbit , Reuters reported. Google was reportedly paying $7.35

Regulation 130

Regulation US United States Google 130

PYMNTS

JULY 1, 2019

The IA says the requirements are “unmanageable” because of some of the loose definitions of harms. So, it has to be an independent regulator, with partial government oversight,” Shepherd said. “We The rules say the companies could be fined or banned for not following the rules.

Regulation 108

Regulation social media Google Washington 108

CFPB Monitor

FEBRUARY 13, 2020

On February 7, 2020, the California Attorney General’s (AG) Office released modifications to the proposed regulations to the California Consumer Privacy Act (CCPA). The modifications incorporate amendments to the CCPA signed into law after the AG’s Office issued the proposed regulations in October 2019. Removal of Webform Requirement.

California 78

California Regulation Compliance Guidelines 78

CFPB Monitor

JUNE 15, 2022

The California Department of Financial Protection and Innovation (DFPI) has issued final regulations to implement SB 1235, the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances. .

California 78

California Regulation CA Utah 78

Perficient

JUNE 1, 2022

Note that the definition of treasuries for this reporting and regulations example does include principal-only (PO) and interest only (IO) Separate Trading of Registered Interest and Principal Securities (STRIPS). The following tables, starting with the most basic – U.S. Interested in learning more? You can download it here.

Report 294

Report Security Regulation System 294

CFPB Monitor

DECEMBER 2, 2021

Covered banking organizations are required to provide notice to their relevant regulator in the event that a “Notification Incident” occurs. Banking organizations that suffer a Notification Incident must provide notice to their respective regulator as soon as possible, but not later than 36 hours after the occurrence of the incident.

Regulation 78

Regulation Report FDIC Security 78

PYMNTS

JANUARY 7, 2020

Pivotal Research Group Senior Analyst Michael Levine upgraded the stock to a buy rating, but said that regulatory concerns were definitely an issue to watch. Last month, Google CEO and Co-founder Larry Page gave up his CEO job to Sundar Pichai, the former CEO of Google.

Regulation 130

Regulation Google Groups Company 130

CFPB Monitor

APRIL 8, 2021

On April 1, 2021, the FDIC’s final rule issued in December 2020 revising its brokered deposits regulation became effective. The full compliance date for the final rule is January 1, 2022.

FDIC 78

FDIC Resources Regulation Compliance 78

PYMNTS

JANUARY 29, 2020

The government’s policy and its regulations should be well known before enforcement happens, the policy said. said that national policy might not be enough in terms of crypto regulation. . “We Public statements, whether through the press or formal speeches, are helpful but are not official statements of application by the agency.

Bitcoin 132

Bitcoin Regulation blockchain Delaware 132

CFPB Monitor

NOVEMBER 8, 2021

Compliance with the new disclosure requirements is not required until the DFPI’s final regulations become effective. The most significant changes in the fourth modifications concern the definitions of “Average monthly cost” and “Estimated monthly cost,” items which must be included in the disclosures for certain products.

CA 78

CA Regulation California Compliance 78

Abrigo

APRIL 6, 2022

Takeaway 2 The change includes an obligation to inform regulators of a “notification incident” ASAP and no later than 36 hours after a reportable event occurs. Background Historically, the federal banking regulators required financial institutions to file two types of reports for certain cybersecurity incidents.

Security 195

Security Regulation District of Columbia United States 195

PYMNTS

OCTOBER 19, 2016

According to Brad Fauss, president and CEO of the Network Branded Prepaid Card Association, the recently released regulations on prepaid cards from the Consumer Finance Protection Board could be another instance of good intentions gone wrong. The updated regulations are slated to take effect Oct.

Regulation 100

Regulation Cards Digital Banking social media 100

PYMNTS

FEBRUARY 11, 2019

As the payments landscape evolves and becomes ever more digital in scope, and as FinTech firms make inroads into traditional financial services, regulators are looking at FinTech credit — and how it might be defined and shaped. There seem to be no easy answers on just how to regulate the space. trillion.

Fintech 195

Fintech Lending Regulation Survey 195

CFPB Monitor

OCTOBER 28, 2019

Final regulations adopted by the New York Department of Financial Services (NYDFS) to implement the state’s new student loan servicing law became effective on October 16, 2019 upon the publication by the NYDFS of a Notice of Adoption in the State Register. Definition of “student loan.” Handling of nonconforming payments.

New York 60

New York Regulation Policies Payments 60

PYMNTS

JANUARY 19, 2018

Fizzle of the Week: Cryptocurrency Regulation. The saga over bitcoin and its relationship to various regulators has become something of the payments answer to a romantic comedy. But the idea that regulators can wave a wand and make bitcoin go away? Easy come, easy crypt-go, it seems. They may have some luck. As for next week?

Bitcoin 123

Bitcoin Regulation cryptocurrency Taxes 123

CFPB Monitor

JANUARY 24, 2020

On December 18, 2019, the New York Department of Financial Services (DFS) issued its Final Regulations detailing the business conduct rules for mortgage loan servicers. These regulations will require implementation of additional New York-specific communications and servicing procedures. Effective Date. Escrow Accounts (§ 419.2).

New York 78

New York Regulation Payments Compliance 78

Abrigo

SEPTEMBER 6, 2024

The investment advisers rule expands the definition of "financial institution" under the Bank Secrecy Act (BSA) to include certain registered investment advisers and exempt reporting advisers. This includes monitoring their activities, understanding their client base, and ensuring they adhere to the same standards as other regulated entities.

Compliance 195

Compliance Training Fraud Regulation 195

PYMNTS

JANUARY 8, 2021

The Cyberspace Administration of China is considering a revamping of internet oversight regulations, rules that have not been updated in more than 20 years, according to a Reuters report on Friday (Jan. The plan to revise cyberspace regulations comes at a time when China is stepping up the scrutiny of tech giants.

Online 171

Online Regulation Maine National 171

PYMNTS

SEPTEMBER 22, 2016

Definitely for it,” said Siddhartha Sharma, chief technology officer at Hedgeable. From an entrepreneur’s standpoint, it removes bureaucracy and regulation upfront, while gauging customer interest, and enables them to focus on product development.”. Earlier this month, Hong Kong launched its own sandbox initiative.

Regulation 100

Regulation Fintech Innovation Bitcoin 100

CFPB Monitor

JUNE 14, 2021

The new law became effective immediately upon signing notwithstanding the authority it gives the Illinois Department of Financial and Professional Regulation (“IDFPR”) to adopt rules “consistent with [the] Act.”. Proposed Regulations. The IDFPR has proposed regulations to implement the Act.

Illinois 78

Illinois Regulation Report Lending 78

Jeff For Banks

AUGUST 2, 2014

My firm will occasionally provide feedback on correspondence to our clients'' regulators. I thought about what we should have said to the regulator, versus the sweet words I was encouraging our client to use. Below is a sample letter to your regulator, saying it like you mean it. Today we did just that. Truth is, I haven''t.

Regulation 89

Regulation DC FDIC Analytics 89

CFPB Monitor

MARCH 30, 2020

On March 27, 2020, the Massachusetts Attorney General filed an emergency regulation interpreting the Massachusetts Consumer Protection Act, M.G.L. Chapter 93A, to address certain practices by creditors and debt collectors that it has determined to be unfair and deceptive under present circumstances.

Massachusetts 78

Massachusetts Regulation Industry National 78

CFPB Monitor

SEPTEMBER 24, 2015

The CFPB has issued a final rule that revises the definitions of “small creditor” and “rural areas” under Regulation Z of the Truth in Lending Act (TILA). The CFPB created special small creditor provisions with regard to certain Regulation Z requirements. Wendy Tran and Richard J. Andreano, Jr. less than 3.5 Census Bureau.

Operations 60

Operations Regulation Meeting Payments 60