BK Kalra
Jan 21, 2022

CIOs need to focus on keeping their IT infrastructure running smoothly, making better use of data and analytics, and getting the most from the cloud.

Your company may not be fully complying with the wage and hour regulations of the U.

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Concepts that start out simply rarely end that way, which you can see in the evolution of terminology.

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Fraud is endemic to the global payments system and the tools financial institutions have historically used to fight it are marginal at best.

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As if financial institutions didn’t have enough on their compliance plate, the Consumer Financial Protection Bureau (CFPB) on February 7 issued a final rule to implement section 1073 of the Dodd-Frank Wall Street Reform and Consumer Protection Act amending the Electronic Funds Transfer Act (Regulation E).

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It is an understatement that the past few years have been a challenging time for banking institutions.

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Uncontrollable compliance costs are often cited by community banks as a reason for selling out to another institution.

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As banks continue to make large expenditures on technology for anti-money laundering (AML) compliance, they would be well-advised to continue employing traditional due diligence and following long-standing and basic Know Your Customer procedures.

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With Dodd-Frank rulemaking slowing to a crawl (most recently a delay in finalizing the Volcker Rule) and ongoing debate in the European Union about where to go next with regulations in the wake of continued financial unrest, the only thing certain about future regulations is that there will be more and they will be increasingly stringent.

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As fast as banks plug the holes in their security dams, criminals are finding alternative ways to take over customer accounts.

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Banks have struggled serving the un- and underbanked for decades.

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As we move into the height of the 2012 presidential election cycle, issues of consumer protection in the financial services industry are front and center on the political agenda, as can be seen in the recent controversy involving the president’s recess appointment of Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB).

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Editor’s Note: For an update to the article, read the 2018 article: Today’s best practices for compliance risk assessment.

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When bankers sit down to design new products in this new regulatory era, they should bring their compliance experts in at the start of the conversation rather than at the end.

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Cybercrooks are stealing as much as $1 billion a year from small and mid-sized bank accounts in the United States and Europe, according to Don Jackson, a security expert at Dell SecureWorks.

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When’s the last time you read the terms and conditions for your checking account? If you’re like most Americans, including me, the answer is probably never.

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I’ll admit it: in law school, I thought arbitration was b-o-r-i-n-g.

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With Dodd-Frank financial reform legislation more than 2,300 pages long, it will take some time to understand its full impact on financial institutions.

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The financial crisis of 2007 and 2008 took a terrible toll on banks.

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