Perficient

NOVEMBER 21, 2024

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility.

Regulation 221

Regulation Guidelines Study System 221

PYMNTS

NOVEMBER 20, 2020

News came this week that a (virtual) meeting between regulators and Big Tech – which would center on draft proposals that might impact their very operations on the Continent –has been postponed briefly from Nov. For Big Tech, there’s just a hint of a bit of a reprieve in Europe. 24 to Dec 2. As noted by Yahoo!

Policies 260

Policies Google Apple Regulation 260

PYMNTS

SEPTEMBER 17, 2020

In notes on its most recent (August) meeting of the bank’s Payments System Board, the members said that “at present there is not a strong public-policy case for issuance in Australia, given that the electronic payments system in Australia compares very favorably with those in many other countries and access to cash remains good.”.

Policies 181

Policies Boston Examples ATM 181

Perficient

NOVEMBER 27, 2023

In the dynamic environment of highly regulated industries like healthcare and financial services, leaders often balance competing goals to delight customers while cutting costs. Diagnosing and Correcting Process Failures Despite the billions spent yearly to digitize processes, companies often are not operating at their maximum potential.

Industry 221

Industry Regulation Compliance Data 221

PYMNTS

AUGUST 7, 2020

Microsoft and Facebook are grumbling publicly about fellow tech giant Apple ‘s policies restricting access to coveted slots in its App Store, as well as the access given to iPhone and iPad users. But among mobile users, only gamers who use devices running Google’s Android operating system will be able to play.

Policies 166

Policies Apple Guidelines Google 166

PYMNTS

JUNE 20, 2019

Powell also said that regulators have jurisdiction to enforce anti-money laundering regulations on business that operate within the digital sphere. “We Libra won’t, he said, displace the current currency system, or complicate monetary policy. “I It’s something we’re looking at,” he said.

Regulation 168

Regulation cryptocurrency System Bitcoin 168

Perficient

JUNE 5, 2020

Secure software practices are at the heart of all system development; doubly so for highly regulated industries such as health-care providers. This includes static application structure, dynamic application behavior, third-party component patch/version levels, and overall deployment environment compliance with hardened operating systems.

Compliance 332

Compliance Security Software System 332

BankUnderground

NOVEMBER 2, 2022

Operational risk is rapidly becoming one of the most important threats to the financial system but is also one of the least well understood. But they are only one part of operational risk, which includes losses from any kind of business disruption or human error, including power outages or natural disasters.

Operations 127

Operations Policies System Regulation 127

Abrigo

JUNE 14, 2021

Common root causes include: Lack of a formal OFAC SCP Misinterpretation or failure to understand OFAC regulations Facilitating transactions by non-U.S. BSA Rules and Regulation. BSA Rules and Regulation. Being proactive and thorough with your SCP will help ensure your institution does not fall into unknown weaknesses.

Compliance 370

Compliance Training Resources Policies 370

PYMNTS

JANUARY 22, 2021

India's central bank wants stricter regulations for big shadow lenders, according to a new report from Bloomberg. Middle-layer non-bank lenders would follow a board-approved policy on capital adequacy, and upper-layer shadow financiers would follow exposure rules like those big banks follow.

Regulation 272

Regulation Capital Lending Groups 272

PYMNTS

JANUARY 19, 2021

But reaching a broader range of consumers, accommodating their payment preferences, and satisfying regulatory and tax issues in unfamiliar territory introduces a host of new operational challenges for these companies. Retailers are entering new markets at a time when regulations are becoming more complex and costly, not less.

Branding 322

Branding Taxes Fraud Regulation 322

Abrigo

MAY 19, 2023

Introduction How regulators define successful loan reviews Mark Twain observed, “A thing long expected takes the form of the unexpected when at last it comes.” So, let’s get a sense of what regulators specifically expect loan review to do, and let’s start with loan review systems.

System 195

System Regulation How To Lending 195

PYMNTS

SEPTEMBER 22, 2020

China's top regulator, the State Administration for Market Regulation, has fined coffee chain Luckin Coffee and other firms that helped it inflate its sales and expenses last year, The Wall Street Journal reported. The regulator said on Tuesday (Sept. That prompted the regulator to start the investigation.

Regulation 143

Regulation Company Fraud Policies 143

PYMNTS

MAY 22, 2020

Treasury’s difficulties getting relief money to individuals, has renewed calls for the government to accelerate its FedNow national real-time payments network, still not expected to be operational until at least 2023. But the plight of American SMBs and consumers seems more pressing at the moment. Problem No.

Payments 344

Payments Policies Guidelines National 344

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

PYMNTS

SEPTEMBER 30, 2020

House committee this week began reviewing the idea of allowing the likes of Amazon or Facebook to receive charters to operate as banks — an idea that’s already gotten plenty of pushback from traditional financial institutions (FIs). However, the banking industry doesn’t like that one bit. “We

Regulation 349

Regulation National System Industry 349

BankUnderground

OCTOBER 26, 2021

The Bank of England co-organised a ‘ History and Policy Making Conference ‘ in late 2020. History offers policymakers and academics useful case studies that can serve as distant mirrors beyond the study of crises and policy responses to them. Monetary theory and policy in Medieval France. Nathan Sussman.

Policies 133

Policies Taxes Maine National 133

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

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

MARCH 20, 2020

The vice president of policy and legal affairs at DJI, Brendan Schulman, said the Federal Aviation Administration should “readily grant waivers on restrictions that might impede beneficial operations.” .

California 315

California Apple Policies National 315

PYMNTS

DECEMBER 16, 2020

New draft rules tied to the Digital Services Act and Digital Markets Act (collected under the Digital Services Act Package ) would broaden European Union regulators’ power to rein in Big Tech. Yes, draft regulations can be changed. tech giants contend that the potential regulations would be onerous. tech giants.

Regulation 270

Regulation Compliance Online Software 270

Abrigo

FEBRUARY 6, 2024

Takeaway 3 The specific policy areas outlined below should be carefully considered by credit unions engaged in member business lending. In this blog post, we will delve into the strategies and policies credit unions can adopt to ensure the success and profitability of their MBL programs. Takeaway 2 Start slow.

Lending 221

Lending How To Risk Management Policies 221

PYMNTS

SEPTEMBER 8, 2020

With the boom of eCommerce both before and during the pandemic, European Union regulators are taking another look at antitrust rules regarding internet sales and distribution platforms. The European Commission, the EU’s arm for antitrust regulations, said in a press release that it will examine vertical block exemption regulations (VBER).

Regulation 131

Regulation Google Online Comparison 131

PYMNTS

OCTOBER 21, 2020

The pandemic has shifted priorities in regulatory policy tied to the financial services industry — and for Europe, it is heralding the emergence of a data-driven economy. Maniati noted the transformation had been in place well before COVID and has stretched back over five years, but has seen some urgency in recent months.

Data 317

Data Regulation National Examples 317

PYMNTS

DECEMBER 18, 2019

The United Kingdom will create a technology regulator next year after Brexit is completed, according to a report by the Financial Times. It’s quite rare that one makes a set of quite radical policy proposals and within 12 months the government is actually implementing them,” said Diane Coyle, an economist.

Regulation 134

Regulation Google Policies Meeting 134

PYMNTS

MARCH 1, 2020

s audit regulator, announced plans this week to break up the dominance of the largest four accounting firms, Deloitte, EY, KPMG and PwC , according to the Financial Times. The regulator issued letters to those firms, known as the Big Four, Thursday. The Financial Reporting Council (FRC), the U.K.’s

Regulation 230

Regulation Taxes Industry Policies 230

PYMNTS

MARCH 31, 2020

The necessity of such regulations is undeniable, however, as lagging data standards leave businesses and consumers open to fraud and boost frustration regarding the speed of digital transactions. It also posted a “do not sell my info” button on its site in addition to its policy change. Sixty-three percent of U.S.

Regulation 154

Regulation Data US Washington 154

BankUnderground

NOVEMBER 8, 2023

Francesca Diluiso, Barbara Annicchiarico and Marco Carli While climate change is often seen as a long-term concern, climate mitigation policies can have different short-term effects, since they affect the transmission mechanism of conventional macroeconomic shocks.

Policies 80

Policies Regulation Taxes Compliance 80

PYMNTS

JANUARY 16, 2020

The headline statement is that crypto firms have traditionally operated in a regulatory environment that might charitably be likened to the “Wild West.” 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.

Regulation 132

Regulation cryptocurrency User Experience Operations 132

Abrigo

AUGUST 19, 2022

Takeaway 1 Regulators recently reminded financial institutions to have risk-based customer due diligence ( CDD ). Takeaway 2 U nderstanding a customer ' s risk profile enables appropriate policies, procedures, and processes to mitigate risk and comply with regulatory requirements. Use risk-appropriate levels and types of CDD.

ATM 195

ATM Regulation Fraud Policies 195

Perficient

MAY 5, 2022

While it was once expected and acceptable for lenders to enforce standardized payment due dates and policies, COVID-19 brought the impracticality and ineffectiveness of a “one-size-fits-all” approach to credit and lending to light. And for good.

Lending 354

Lending Strategy Marketing Big Data 354

BankUnderground

AUGUST 31, 2022

While regulators cannot be sure what risks the next decade will feature, they can be sure that the set of issues will continuously evolve. Figure 1 summarises the most common issues considered by the Financial Policy Committee in the last decade. Alina Barnett, Sinem Hacioglu Hoke and Simon Lloyd.

Policies 111

Policies Marketing System Regulation 111

PYMNTS

AUGUST 20, 2020

According to the court document, TD Bank employees would only inform new customers of the DCA policy verbally, asking the customer to confirm orally if they wished to participate. Through December 2018, the court document stated TD Bank’s policy of asking customers to verbally state whether they wanted to enroll in DCA violated the law.

Policies 262

Policies Regulation Cards Operations 262

Abrigo

NOVEMBER 18, 2024

Prepare for regulator scrutiny on interest rate risk & liquidity Banks and credit unions that aren't paying attention to these critical issues can expect a tough review. With the uncertain economic outlook, regulators and examiners have been regularly conveying their top priorities for banks and credit unions.

Risk Management 195

Risk Management Regulation Policies Management 195

PYMNTS

DECEMBER 31, 2019

Specifically, manufacturers will suffer as operational systems of some of them are not suitable for external applications, and even those who potentially can preinstall local apps will have to pay sizable license fees.” ” Under Russian legislation, global streaming services like Netflix and Apple TV+ would also face restrictions.

Regulation 139

Regulation Apple US Software 139

Abrigo

JULY 9, 2024

Proposed NPRM FinCEN's anticipated AML/CFT program rule The Financial Crimes Enforcement Network (FinCEN) recently unveiled its Notice of Proposed Rulemaking (NPRM) for AML/CFT programs, federal regulators’ latest move to enhance the integrity and effectiveness of anti-money laundering and countering the financing of terrorism (AML/CFT) efforts.

Compliance 221

Compliance Fraud Regulation National 221

PYMNTS

NOVEMBER 23, 2020

20), the working group recommended regulatory changes that would allow industrial groups to hold larger stakes in lenders, marking a significant policy shift for the central bank. In a committee report released on Friday (Nov. The committee’s recommendations could also open the door for large shadow banks to convert into lenders.

Groups 244

Groups Regulation Lending Industry 244