Abrigo

MARCH 5, 2025

As financial institutions deal with growing portfolios, evolving regulations, and a shifting workforce, maintaining consistency in credit risk assessment is more difficult than ever. It helps us work faster, more accurately, and without the headache of manual documentation.

Risk Management 195

Risk Management Management Tools Compliance 195

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

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

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

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 Trends 195

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

South State Correspondent

MARCH 10, 2025

How do you want to document the selection and decision process so that you can review it later for quality control and forecasting accuracy? Describe the process and summary of the universe of options how many were considered and what they represent in terms of all possible solutions available to the bank. What are the next steps?

Training 195

Training Maine Analytics Management 195

Abrigo

MAY 10, 2022

Takeaway 3 Follow your regulator's instructions and reference the most recent regulatory SAR guidance. A SAR is a detailed, factual document, not a creative writing essay. Your closing paragraph should state that an attachment is available with other supporting documentation. BSA Rules and Regulation. Making an Impact.

Regulation 370

Regulation Fraud Resources Software 370

PYMNTS

DECEMBER 9, 2020

And new regulations are taking root or are on the horizon to help protect consumers, their data and how that data might be used. The confluence of the great digital shift, closed offices and the need for robust ID efforts can be seen in a microcosm of sorts, where Mitek is conducting selfie and document verification to help Gov.UK

Regulation 234

Regulation Security Data Course 234

Abrigo

JANUARY 21, 2025

As the Abrigo team has had the opportunity to work with many institutions and their regulators, they understand what is needed in analysis and documentation to ensure a seamless examination. How would your institution manage this additional workload while maintaining compliance with daily deadlines?

Fraud 221

Fraud Training Analysis Compliance 221

PYMNTS

MARCH 27, 2020

And verification can come only on the heels of having the right documentation, attributes and offerings in place that can be verified with speed and security through the use of advanced technologies. Digital passports can eventually be part of digital “identity wallets.”.

Course 361

Course Mobile National Examples 361

PYMNTS

DECEMBER 18, 2020

The new regulations, if adopted after a comment period, would require banks and some other institutions to obtain and report the identities of parties engaging in certain digital transactions, including payments involving what are called "unhosted wallets" – effectively secret bank accounts that hold cryptocurrency.

Bitcoin 354

Bitcoin US Regulation cryptocurrency 354

Abrigo

FEBRUARY 6, 2025

Federal regulations under the Controlled Substances Act (CSA) still classify marijuana as a Schedule I substance, along with heroin and methamphetamine. Even with strong compliance programs, theres always the potential for scrutiny from regulators. Get ahead of this decision by including your regulator in the planning phase.

Lending 195

Lending Compliance Community Software 195

PYMNTS

AUGUST 20, 2020

The Consumer Finance Protection Bureau (CFPB) has settled with TD Bank in a case involving illegal overdraft practices, according to a court document. This went on between 2014 and 2018, the court document stated. The CFPB has sought to regulate overdraft violations more often in recent years. The bank charged around 1.42

Policies 262

Policies Regulation Cards Operations 262

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

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

Abrigo

MARCH 10, 2025

Among the suggestions shared with banks and credit unions: Be ready for some CECL-specific questions during audits and exams, and document every allowance decision. Regulators and auditors will look for signs of genuine oversight and vetting of model inputs, not just a formality. said Gordon Dobner, Partner/Audit, FORVIS.

Analysis 195

Analysis Data Management Examples 195

PYMNTS

NOVEMBER 2, 2020

Regulation. The Digital Services Act will be one of the regulations, which Vestager said will revise the eCommerce Directive and will make digital services take additional responsibility for contending with “illegal content and dangerous products.”. The Digital Markets Act is a second set of regulations. each month.

Taxes 212

Taxes National Regulation Google 212

PYMNTS

AUGUST 3, 2020

The paper cited documents and “Italian legal sources” in its story about the organized crime syndicate ’Ndrangheta and CenturionBet, an online gaming company based in Malta. It is unclear whether the bank knew its services were being used to skirt anti-money laundering regulations, the paper reported.

Regional 362

Regional Online Fintech Report 362

PYMNTS

OCTOBER 4, 2020

A 14-page report Facebook lawyers prepared in advance of a potential antitrust lawsuit from the government found such action would hurt users, be contrary to established law and cost billions of dollars, WSJ reported after seeing the document. A ‘breakup’ of Facebook is thus a complete nonstarter,” the document stated, according to WSJ.

social media 291

social media Austin Chicago User Experience 291

Abrigo

JULY 17, 2019

Recognizing that some examiners are new to the industry as well, verify when seeking advice and document your regulator responses. If you come away with a different perspective, share that with your regulator to continue that collaborative relationship. Know what that path is, and be sure to pick your battles.

Compliance 240

Compliance Regulation Industry System 240

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

PYMNTS

NOVEMBER 25, 2020

Patel said regulation is catching up to bias in data sets, and we might see a not-too-distant future when vendors must give assurance that there’s no bias in the models they are providing to financial institutions (FIs) and other companies. A starting point to conducting identity verification is document-based, he said.

social media 353

social media Data Examples Training 353

PYMNTS

NOVEMBER 25, 2020

In one example, Qantas’ CEO said that international travel likely won't get back to normal without compulsory vaccinations, and that international travelers on the airline must have that documentation in place. There are indications that other digitally-focused public health efforts are gaining momentum where crowds gather.

New York 326

New York Resources Course Data 326

Perficient

SEPTEMBER 2, 2022

R.TY: When I saw that pizza firms were able to integrate their order, inventory management, and external vendors using a private blockchain, I had the financial firm I worked for at the time begin to do the same thing with both loan documents and legal documents covering derivatives. Tell me about the latter example first, please.

blockchain 55

blockchain Customer Experience Examples Leadership 55

Abrigo

JUNE 10, 2020

Adequately staffed and risk-focused AML resources with good documentation are critical. LaFontaine failed to take sufficient action when presented with significant AML program deficiencies in the Bank’s SAR-monitoring system and the number of staff to fulfill the AML compliance role by his AMLO [AML Officer],” the document said.

Resources 195

Resources Regulation Compliance Policies 195

PYMNTS

JANUARY 26, 2020

Documents obtained by Reuters show that the EU wants to adopt a strategy of utilizing more aggressive trade defense instruments against companies thought to be unfairly benefiting from foreign subsidies. The new rules, described by Reuters as protectionist, will be unveiled in March.

blockchain 210

blockchain Policies Data Tools 210

Abrigo

APRIL 12, 2021

An LOS is defined as a system that automates and manages the end-to-end steps in the loan process – from the application, through underwriting, approval, documentation, pricing, funding, and administration. Some third-party vendors are regulated by the Federal Financial Institutions Examinations Council (FFIEC). Credit Risk Regulation.

System 338

System Lending Software Analysis 338

PYMNTS

JANUARY 26, 2021

The partnership aims to create a secondary credit market that is transparent and efficient and makes it easy to manage credit and digitally store documents, loan history and due diligence activities, preventing “information asymmetry risks,” the release stated.

blockchain 244

blockchain Guidelines cryptocurrency Marketing 244

BankBazaar

DECEMBER 2, 2024

While these regulations are designed to uphold the integrity of the financial system and prevent illicit activities, they are not intended to discourage legitimate transactions. The Income Tax Department (ITD) employs stringent regulations to monitor high-value financial transactions to prevent tax evasion and money laundering.

Taxes 78

Taxes Cards Regulation Report 78

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

Abrigo

JANUARY 27, 2025

Maintain compliance with anti-money laundering (AML) regulations. If a risk-based decision is made not to import certain transaction types, document your reasoning for not monitoring these transactions. Assess risks associated with customer activities effectively.

Data 195

Data Compliance Fraud Training 195

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

PYMNTS

JUNE 8, 2020

He said the regulators would need to have total control over a cryptocurrency-fueled system that replaced traditional banking. One way Buonomo could see it being done is if a new cryptocurrency were created and issued by a central bank.

blockchain 338

blockchain cryptocurrency Maine National 338

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

PYMNTS

JUNE 30, 2020

However, the internal document hints that the firm’s client base was significantly less sizable and the revenue from it much more uneven, per the report viewed by FT. The firm reportedly said it worked with 170,000 small companies and 33,000 large and medium-sized merchants in 2017.

Regulation 222

Regulation Report Operations Payments 222

PYMNTS

MAY 12, 2020

Traydstream , a FinTech that looks at trade documents with artificial intelligence (AI), has partnered with Infosys Finacle to implement blockchain technology and further automate trade finance, according to a press release.

blockchain 213

blockchain Compliance Regulation Fintech 213