Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Early communication with your regulator is key to understanding the struggles and successes of managing a BSA/AML program during a global pandemic. 5 Things Regulators Will Look For In Your Next Exam. Learn more.

Regulation 195

Regulation Fraud Compliance Lending 195

Abrigo

SEPTEMBER 20, 2023

Regulators take risk seriously, and knowing just how much risk your institution can take while remaining compliant is essential. The credit union was not reviewing 314(a) requests, not conducting independent testing, and could not provide regulators with a meaningful risk assessment.

Compliance 150

Compliance Regulation Miami Fraud 150

CFPB Monitor

AUGUST 12, 2022

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) released Draft Amendments to its Cyber Security Regulations. If passed, this third component would represent a significant new obligation for covered entities, potentially changing the manner in which companies document ransomware responses.

Regulation 147

Regulation Cyber Security New York Trends 147

Perficient

MARCH 10, 2021

.” SNC (pronounced like the candy bar but without the “ers”) stands for the Shared National Credit Program, which, since 1977, has assessed risk in the largest and most complex credits shared by multiple regulated financial institutions. Loan reviews are completed in the first and third calendar quarters each year.

National 309

National Regulation FDIC Retail 309

Realwired Appraisal Management Blog

MAY 31, 2024

The regulators are digging deep, very deep. The demands for meticulous documentation, clear communication trails and absolute compliance with regulatory standards can be overwhelming. Many Chief Appraisers are dealing with FDIC auditors camped out in their office.

Regulation 52

Regulation FDIC Compliance 52

Abrigo

FEBRUARY 14, 2024

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? We can help you navigate changing AML/CFT and fraud regulations. Who performs those tasks? How often are they performed?

Training 195

Training Fraud Compliance Regulation 195

PYMNTS

JANUARY 27, 2020

Finally, court documents show that some big-name investors have participated in Telegram’s token sale, according to a report by Coindesk. million will go into the counterfeit tracking system for pharmaceuticals. To implement blockchain into housing and utility services, Rostec will spend $7.5

Bitcoin 145

Bitcoin blockchain Regulation cryptocurrency 145

Perficient

APRIL 2, 2021

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. Applications include analysis of regulations, news flow, earnings reports, consumer complaints, analyst ratings changes, and legal documents. Cybersecurity.

Regulation 309

Regulation Industry Risk Management Analysis 309

PYMNTS

DECEMBER 2, 2019

1), citing leaked documents. . Standards offer companies a market advantage since the regulations are developed to complement their own proprietary technology. Technology firms in China are framing facial recognition policies at the United Nations (UN), The Financial Times (FT) reported on Sunday (Dec.

National 144

National Technology Resources America 144

Perficient

FEBRUARY 16, 2023

This makes it easy for companies to comply with all relevant regulations and keep their customers happy. Also, this includes an automated workflow that routes cases across various departmental functions, such as loan, document, and credit assessment departments.

Operations 474

Operations Industry Compliance Management 474

PYMNTS

JULY 2, 2020

The president of the Federal Financial Supervisory Authority (BaFin), Germany’s financial regulator, said the $2.1 But EY, Hufeld and regulators are facing scrutiny over how the once high-flying company managed to escape the industry’s standard accounting rules. It is plain vanilla, old-fashioned criminal behaviour,” Felix Hufeld said.

Regulation 142

Regulation Fraud Report Community 142

CFPB Monitor

JULY 29, 2021

A new Nevada law that becomes effective on October 1, 2021 requires translated documents to be provided to consumers by businesses that advertise and negotiate transactions covered by the law in a language other than English (or allow their agents or employees to advertise and negotiate in a language other than English).

Nevada 78

Nevada Cards Regulation Compliance 78

CFPB Monitor

NOVEMBER 3, 2021

On October 29, the CFPB published additional frequently asked questions on Regulation F, its final debt collection rule, as well as a guidance document. Regulation F is effective November 30, 2021. (Last month, the CFPB published FAQs on the rule’s limited-content message and call frequency provisions.). c) and (d)(1).

Regulation 78

Regulation Compliance Examples Cards 78

PYMNTS

AUGUST 4, 2020

regulator over concerns the deal might hurt competition in the restaurant delivery sector. regulators gave preliminary permission for the deal to move forward, citing documents produced by Deliveroo that indicated the firm was likely to go under without the injection of cash from Amazon. regulator, in a press release. “We

Regulation 130

Regulation Course Marketing Online 130

Abrigo

AUGUST 26, 2024

Takeaway 2 Starting CECL model risk assessments at a high level ensures the focus is on data inputs, assumptions, documentation, and estimates. Starting at a high level helps avoid getting lost in the complexity of CECL and ensures the focus remains on data inputs , assumptions, documentation, and estimates.

Compliance 195

Compliance Management Regulation Data 195

Bobsguide

APRIL 13, 2021

Action must be taken following the European Securities and Markets Authority (Esma)’s review into Ucits liquidity risk management and market practices which identified shortcomings in documentation, procedures and how methodologies are compiled. “Without effective regulation in the.

Regulation 88

Regulation Risk Management Security Marketing 88

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. The comments from AFSA, CBA, and NADA were among the close to 27,000 comments on the proposed Rule received by the FTC.

Regulation 148

Regulation Groups Retail Customer Experience 148

Perficient

SEPTEMBER 11, 2023

Already reviewed by Perficient, BES provides a secure and efficient portal to exchange documents, information, and communications for consumer compliance and Community Reinvestment Act (CRA) examinations. By the time people started speaking of Y2K , regulators were accepting documents from the bank prior to starting the onsite examination.

Compliance 221

Compliance FDIC Tools Leadership 221

Abrigo

NOVEMBER 3, 2023

Takeaway 3 Some important ongoing actions for CECL staff include ongoing data validation and documenting qualitative factors, or Q factors Processes and approaches for the ACL What are CECL best practices? In addition, a major aspect of managing the ACL is explaining the calculation and the resulting data to boards, auditors, and regulators.

Management 195

Management Policies Training Compliance 195

Perficient

DECEMBER 1, 2023

Immediately following the Silicon Valley Bank (SVB) failure, Perficient’s Financial Services Risk Management and Regulatory Capabilities Center of Excellence (CoE) swiftly analyzed publicly available documents, providing readers with a comprehensive breakdown of the bank’s failure.

FDIC 221

FDIC Risk Management Regulation Leadership 221

PYMNTS

JULY 1, 2020

In today’s top news, the Senate extended the PPP application deadline by five weeks, and an internal document reveals a small client base brought in over 50 percent of Wirecard’s sales. Plus, Brazil’s antitrust regulator said it will reverse its decision to suspend the WhatsApp-Cielo partnership.

Payments 130

Payments Compliance System Regulation 130

Abrigo

APRIL 27, 2020

Retain all documentation used in developing your risk assessment, including all reasoning in elevating, or decreasing a particular risk category. If you find yourself is a discussion of whether an exam seems risk-focused, let your documented data speak and take much of the subjectivity away. Artificial Intelligence. Learn More.

Regulation 195

Regulation Compliance Software Analytics 195

Abrigo

DECEMBER 13, 2023

Well-documented adjustments will please regulators. Another essential benefit is documentation for auditors and examiners. The documentation generated during ATL/BTL testing is a valuable resource during regulatory examinations and audits. Either way, shoring up your documentation is crucial.

Training 221

Training Fraud Software Regulation 221

Abrigo

OCTOBER 18, 2024

Be concise when relaying transaction details – it is okay to summarize many of the transactions in your SAR and provide more specifics about each transaction in the transaction attachments or supporting documents. Retain the documentation for five years in case it is requested. Save time by direct filing your SARs and CTRs with FinCEN.

Report 221

Report Regulation Training Policies 221

PYMNTS

FEBRUARY 17, 2020

increased regulation over content delivered online through platforms may be on the horizon. This past week, Britain’s federal government said its media regulator, known as Ofcom, would be given new oversight to monitor and regulate material posted on the web by companies such as Facebook, Google and Twitter. In the U.K.,

Regulation 140

Regulation Google Operations Company 140

CFPB Monitor

SEPTEMBER 21, 2020

The New York Department of Financial Services (DFS) announced on September 16 that it has filed a Statement of Charges against debt collector Forster & Garbus LLP (Forster) for alleged violations of the state’s Debt Collection Regulation, Part 1 of Title 23 of the New York Codes, Rules, and Regulations, promulgated in 2015.

Regulation 78

Regulation New York Policies Examples 78

PYMNTS

DECEMBER 11, 2019

The United Kingdom’s regulator on competition and antitrust concerns has signaled that eCommerce giant Amazon’s stake in food delivery service Deliveroo may need additional examination. Deliveroo, for its part, stated that it has been working with regulators on these issues. Reports came from CNBC Wednesday (Dec.

Regulation 131

Regulation Innovation Operations Report 131

PYMNTS

JUNE 7, 2018

As financial institutions grapple with compliance costs, a finance industry organization in Asia wants regulators to allow new technologies that could help them fight money laundering. It was the second major case new CEO Matt Comyn settled with regulators in a month, following an admission of rate manipulation.

Regulation 162

Regulation Fintech Examples Industry 162

PYMNTS

SEPTEMBER 2, 2020

Hufeld’s comments come one day after the Bundestag announced it plans to hold an inquiry into regulators’ failure to prevent the biggest corporate fraud since World War II. But EY has said it was provided with false documentation and suggested Wirecard may be involved in large-scale international fraud.

Regulation 175

Regulation Fraud Report Examples 175

PYMNTS

FEBRUARY 12, 2020

The DPC — which acts as the regulator for all of Europe — searched the social media giant’s offices in Dublin. Privacy regulators raised concerns that the new feature wasn’t compliant with the new General Data Protection Regulation (GDPR). “We

Regulation 140

Regulation Compliance social media Data 140

CFPB Monitor

JUNE 2, 2022

In a surprising development, the California Privacy Protection Agency (CPPA) published proposed amendments to the CCPA regulations recently. The proposed amendments—which in effect are the draft CPRA regulations—were issued without advance notice, ahead of the schedule previously announced by the CPPA. .

Regulation 78

Regulation California Exercises Compliance 78

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.

New York 221

New York Compliance Regulation Analysis 221

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

NOVEMBER 4, 2024

With recent changes in AML regulations, such as FinCEN’s rule to strengthen and modernize financial institutions' AML/CFT programs, this step is also a regulatory mandate. Learn more Risk assessments and regulatory changes Regular risk assessments are essential for identifying and mitigating vulnerabilities within the institution.

Training 195

Training Compliance System Regulation 195

CFPB Monitor

MAY 5, 2020

Perez that demands by the Connecticut Department of Banking (DOB) to the Pennsylvania Higher Education Assistance Agency (PHEAA) for federal student loan documents are preempted by federal law. Later in 2017, in connection with the DOB’s examination of PHEAA, the DOB requested certain documents concerning Direct Loans serviced by PHEAA.

Connecticut 78

Connecticut Pennsylvania Compliance Regulation 78

PYMNTS

AUGUST 1, 2019

Investigators from the Federal Reserve carried out an inspection of Amazon ’s cloud in April as Washington looks into ways to regulate companies that provide the service. People familiar with the matter said the regulators were most interested in looking at Amazon’s resiliency and backup systems.

Regulation 108

Regulation Washington Virginia Seattle 108

CFPB Monitor

NOVEMBER 10, 2021

On October 29, the New York Department of Financial Services issued proposed amendments to 23 NYCRR 1, its regulation titled “ Debt Collection by Third-Party Debt Collectors and Debt Buyers.” They would also align the DFS regulation with several of the CFPB’s requirements in Regulation F, set to become effective on November 30, 2021.

Regulation 78

Regulation New York Branding Payments 78