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D.C. Department of Insurance, Securities and Banking issues bulletin on money transmission

CFPB Monitor

On August 8, 2022, the District of Columbia Department of Insurance, Securities and Banking (the Department”) issued a Bulletin on money transmission (the “Bulletin”). District Court for the District of Columbia in United States v. Larry Dean Harmon , 474 F.Supp.3d 3d 76 (D.D.C. Code §26-1001 et seq.,

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Banking Computer-Security Incident Notification Requirements Take Effect

Abrigo

New Rule Outlines Computer-Security Incident Notification Obligations for Banks Financial institutions and their service providers should prepare to meet new computer-security notice requirements by May 1, 2022. . Computer-security incident notifications required. Expand and Clarify. How and When.

Security 195
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CORO Global Brings Gold Payment App To Alabama

PYMNTS

The company – and its gold trading app – just expanded its reach in the United States with the addition of a license to operate in Alabama. The Alabama Securities Commission on Tuesday (Nov. The future is looking a bit more golden for CORO Global.

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Today In Payments: Facebook Calls Out Apple; DC AG Sues Instacart

PYMNTS

The attorney general for the District of Columbia alleged in a lawsuit filed on Thursday (Aug. Klarna, the Swedish-based global payments and buy now, pay later (BNPL) provider, reported mixed results for 2020’s first half — a 37 percent jump in operating income, but a 903 percent expansion in overall operating losses.

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Visa-Western Union Deal And Alexa’s Roommate Potential Top The Week’s News

PYMNTS

The eCase for Liberating $190B in Rental Security Deposits. Today, financial institutions (FIs) face a barrage of cyberattacks from hackers operating around the world, continuously shifting their tactics. A slew of regulators and investigators reportedly are looking into QuadrigaCX’s shuttering of operations earlier this year.

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Bitcoin’s Murky Trail Across Dark Web Gets Some Light

PYMNTS

In news at the end of this week, the largest child pornography site in the world has been shuttered — and had operated across the Dark Web, funded by bitcoin. Attorney’s Office for the District of Columbia, the Justice Department’s Criminal Division, the IRS Criminal Investigation (IRS-CI) and U.S.

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OCC outlines risk plan as Northeastern loan growth doubles

Abrigo

Operational Risk: Lastly, the OCC mentioned an increase in operational risk, and its intent to focus on: • Significant growth areas, new products, new or expanded services and changes in strategic direction. • Security measures to deter and detect cyber-attacks. The OCC on Oct. • Changes in underwriting.