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

CFPB Monitor

OCTOBER 21, 2021

The CFPB, Federal Reserve Board, FDIC NCUA, OCC, in conjunction with the state bank and state credit union regulators, jointly issued a statement on managing the transition away from LIBOR (Joint Statement). Appropriateness of alternative reference rates. Fallback language.

Regulation 78

Regulation Management FDIC Risk Management 78

Perficient

AUGUST 5, 2021

Background: On June 11, 2021, the Federal Reserve published in the Federal Register a proposal to amend Regulation J to govern funds transfers through the Federal Reserve Bank’s new FedNow Service by establishing a new subpart C. Comments must reference Docket No. R-1750 and RIN 7100-AG16.

DC 309

DC United States Washington Regulation 309

Perficient

JULY 18, 2024

Next, we migrated data to a new AWS-hosted client reference database powered by Apache Glue and DynamoDB. That’s where our team of experts came in. This highly connected solution consolidates client, transaction, and account data into a dynamic, centralized repository.

Management 221

Management Data Customer Experience Innovation 221

Perficient

JUNE 1, 2022

Transactions that are not reported within the specified timeframe are classified as late (FINRA TRACE reporting requirements always reference Eastern Time). This includes implementing and operating computer systems that commence the trade reporting process at the time of execution without delay. Interested in learning more?

Report 294

Report Security Regulation System 294

PYMNTS

OCTOBER 15, 2018

As noted by the Conference of State Bank Supervisors (CSBS), state regulators earlier this month released the inaugural Money Services Business Industry Report, which featured transaction data tied to 2017 and focused on licensed money transmission and payments. From a high-level view, the industry handled $1.2

Report 170

Report Regulation Data Industry 170

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

BankUnderground

JULY 31, 2020

To make regulation proportionate, policymakers adapt regulatory requirements to the risks posed by each firm. But regulators face a trade-off between addressing systemic risks in a proportionate way and limiting regulatory complexity. A threshold could become a barrier to growth if it leads to higher operational costs (e.g.

Regulation 103

Regulation Policies Analysis Capital 103

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

Cisco

JANUARY 24, 2023

The prior blogs in this series, listed at the bottom, have discussed the various regulations affecting CIOs and their IT organizations. The purpose of this blog is to discuss a few ways in which tooling and automation capabilities can be used to satisfy the asset management requirements of the FFIEC Operations Guide.

Meeting 91

Meeting Regulation Management Technology 91

Perficient

JUNE 25, 2024

Toll Gates Are Needed To avoid repeating such scenarios, of that rather dire history, Hsu advocated for regulators and the industry to proactively identify points where growth and development should pause to ensure responsible innovation and build trust.

Case Study 221

Case Study Risk Management Analysis Innovation 221

Abrigo

SEPTEMBER 24, 2024

Human-in-the-loop refers to the collaboration between AI systems and human experts, ensuring that machines do not operate in isolation. Handling complex cases : Certain AML/CFT cases involve complex data layers or require an understanding of industry-specific regulations. Investigative expertise is critical.

Software 195

Software Management Compliance Resources 195

PYMNTS

AUGUST 17, 2020

In a letter, as reported by various media outlets in India, the All India Organization of Chemists and Druggists argues that laws from the 1940s prohibit the sort of home delivery operation that Amazon is piloting in India. For years, pharmacists have complained about confusion around what is allowed as small operations have launched.

Groups 251

Groups Regulation Operations Meeting 251

CFPB Monitor

JANUARY 9, 2020

The New York Department of Financial Services has sent a letter to the institutions that it regulates requiring each such institution, by February 7, 2020, to provide to DFS a description of its “plan to address its LIBOR cessation and transition risk.” (LIBOR is the acronym for the London Inter-Bank Offered Rate.).

Regulation 78

Regulation New York Management Taxes 78

Abrigo

NOVEMBER 3, 2023

The recommendations for CECL management described below refer to processes and approaches that have been effective among financial institutions as they have implemented the accounting standard since it became effective for the largest banks in 2020. Read on to learn what these practices are and how they can benefit your financial institution.

Management 195

Management Policies Training Compliance 195

PYMNTS

SEPTEMBER 16, 2020

The Financial Times (FT) reported police acknowledged that in a scheme to avoid China’s tough financial regulations, thieves have targeted sites including Pinduoduo Inc., In response to an inquiry from the FT, a Pinduoduo spokesperson said gambling syndicates operating under false pretenses on shopping platforms is an industry-wide problem.

Online 312

Online Report Security Regulation 312

Bank Innovation

MARCH 30, 2018

bank said it will be switching off access to 24 million customers as the bank restructures itself as required by national regulation. These changes were established by the Bank of England in 2011, and is referred […]. The major U.K.

Online 220

Online National Regulation Mobile 220

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

PYMNTS

JUNE 10, 2016

As a general rule, most startups aren’t too happy when the regulator comes around, and it is rarely indicative of good news. These days, however, Uber is spending its time, increasingly, in court and has even managed to allow things to break down completely in Austin such that it doesn’t operate there anymore.

Regulation 100

Regulation National Austin Fintech 100

PYMNTS

AUGUST 20, 2018

The firm that a White House lawyer once referred to as a “giant bloodsucker,” that hit a (staggering at the time) billion dollars in sales in 1929, that was valued at a billion dollars in 1959 and that reinvented the grocery store experience for consumers sold a 42 percent stake to a German investor in 1979 at a $190 million valuation.

Regulation 105

Regulation Online Innovation Google 105

BankUnderground

AUGUST 24, 2022

Its implementation has however led to active discussion about whether the complexity of financial regulations has materially increased. Its revision, referred to as Basel II , contained three pillars and the treatment of market risk. We focus on four easily computable measures in this post: Length: The total number of words.

Regulation 125

Regulation Examples Capital Analysis 125

PYMNTS

JULY 28, 2020

Robust international operations require winning over many sellers and operating smoothly around the world, activities that can be challenging for platforms. Complying With Payments Regulations. Global marketplaces must follow numerous regulations when issuing payments.

Marketing 159

Marketing Regulation National Operations 159

Abrigo

AUGUST 5, 2024

You might also like this webinar, "Tackling operational risks: Strategies for check fraud and ransomware prevention" register Takeaway 1 Financial fraud is becoming more sophisticated in today's world, and counterfeit checks and duplicate check deposits are significant threats.

How To 195

How To Fraud Training Software 195

PYMNTS

NOVEMBER 3, 2020

1), the tech giant referred to the possible effects of legal proceedings and global regulations and how those could impact its operations and financial conditions. As a tech company valued in excess of $2 trillion, Apple can afford battling lawsuits. In its latest annual report released on Sunday (Nov.

Apple 226

Apple Nevada Texas Maine 226

Bobsguide

MARCH 22, 2022

Post-Brexit, ESMA has increased the data continuity checks that trading venues must perform when reporting instrument reference and quantitative data. This highly complex exercise is costly and accompanied with a huge operational burden. About SmartStream Technologies. www.smartstream-stp.com.

Data 78

Data Exercises Meeting Report 78

Abrigo

DECEMBER 10, 2021

This update clarifies that banking regulators and FinCEN understand that no specific customer type automatically falls into a higher risk category. These updates are in the sections for Charities and Nonprofit Organizations , Independent Automated Teller Machine (ATM) Owners or Operators , and Politically Exposed Persons (PEPs).

Training 195

Training Regulation Policies ATM 195

Insights on Business

MARCH 5, 2019

Reducing costs but appeasing regulators seems like an oxymoron, yet, many AML compliance and operations leaders are being asked to do just that. The question is, how to do this, while keeping the regulators happy? Even better, regulators have recently begun encouraging the application of these techniques.

Regulation 70

Regulation Compliance Analysis Innovation 70

PYMNTS

OCTOBER 7, 2019

Securities and Exchange Commission (SEC) is seeking to “modernize” the regulation of exchange-traded funds (ETFs) in a bid to make those investment vehicles more innovative, and give them quicker entrance to the market. Might that pave the way for the emergence of cryptocurrency ETFs?

cryptocurrency 134

cryptocurrency Bitcoin Regulation Retail 134

Perficient

FEBRUARY 24, 2021

Whether you are B2B, B2C, or a strategic blend of the two operating models, your consumers expect seamless user experiences powered by custom technology solutions. Global delivery generally refers to custom software development projects where the work is conducted by teams located in different parts of the world. Industry Regulations.

Software 294

Software United States Strategy Industry 294

Independent Banker

AUGUST 31, 2022

Our senior leadership team took that to heart, and it stuck with us, creating an environment in which compliance plays a significant role in everything from our strategic direction to our daily operations. Regulations are there to require what we do every day as community bankers: protect our customers. My top three.

Compliance 177

Compliance Community Leadership Industry 177

CFPB Monitor

JULY 20, 2022

In 2017, the United Kingdom’s Financial Conduct Authority (FCA), the regulator that oversees the panel of banks on whose submissions LIBOR is based, announced plans to discontinue LIBOR after 2021. The FCA subsequently announced that no LIBOR indices will be available after June 30, 2023.

New York 78

New York Security Operations Regulation 78

CFPB Monitor

MAY 19, 2022

Regulation Z requires both tips to be included in the finance charge, resulting in APRs on the loans made to Connecticut borrowers ranging from approximately 43% to over 4280%. The loan disclosures stated that the loans had 0% APRs. The Department asserts that it is authorized to assert the UDAAP claim pursuant to Section 1042 of the CFPA.

Connecticut 78

Connecticut Operations Fintech Regulation 78

Abrigo

JULY 13, 2023

In the context of financial crime, this troubling analogy refers to a manipulation technique used to exploit vulnerabilities in a victim through frequent interactions and social engineering. Massive financial losses can destabilize their operations, impact profitability, and harm their reputation. What exactly is a pig butchering scam?

Fraud 195

Fraud cryptocurrency Training social media 195

PYMNTS

SEPTEMBER 16, 2020

Establishing trust is crucial for all companies that operate in the sharing economy. Ridesharing marketplaces similarly rely on trust to please the car owners and renters who use their platforms, verifying that both parties are who they say they are as well as complying with relevant regulations. . Catering To Renters’ Needs .

Taxes 230

Taxes Guidelines Meeting Security 230

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

Bobsguide

JULY 3, 2022

Organised by Goodacre, a specialist business and technology consultancy, the awards are an endorsement for suppliers of services and systems to the regulated financial services sector. The Awards provide an important point of reference for user firms assessing the suitability of their operational infrastructure.

System 78

System Fintech Financial Technology Technology 78

PYMNTS

NOVEMBER 9, 2020

there are indications that the opening of data flows between financial services companies has led to strong innovation (and demand for that innovation), and more regulation may loom. regulators have taken a more hands-off approach by issuing non-binding guidelines, thus allowing industry stakeholders to pave the way forward.

Fintech 285

Fintech Data Regulation Innovation 285