In an effort to remain compliant—and profitable—modern companies have adopted real-time sanctions screening as a battle-tested best practice. For those businesses that do not update and rescreen their clients and vendors ...
Category: Legislation and Regulation
The CFPB publishes Supervisory Highlights to share key examination findings. These reports also communicate operational changes to our supervision program and provide a convenient and easily accessible resource for info ...
Organizations face significant challenges, many of which are interconnected. In terms of compliance and risk management, companies must have not only the capacity to accurately identify customers and vendors, but also the ability to quickly process transactions for goods and services while minimizing the risk of running afoul of numerous rules and regulations that sometimes accompany such transactions.
The solution to meeting these needs must offer a delicate balance between risk management and speed. It must also address four major challenges of incorporating real-time screening. Michael Brown , vice president of product strategy for CSI Regulatory Compliance shares the four main challenges.
CSI is a proud member of the MSBA.Read More
As technology continues to dazzle consumers with its innovative flair, financial regulatory objectives have remained consistent: create regulations that both protect consumer data and prevent criminals from funding their illegal activities.
The truth of the matter, however, is that modern criminals possess a deep-seeded knowledge of current regulations, and thus are constantly inventing means to bypass the current standard.
MSBA Member CSI highlights the regulation rules and what it means for MSB's.Read More
CSI provides insights for MSB's on how to fend off ransomware attacks with greater effectiveness. The new ransomware is more sophisticated. Safeguarding your organization and your data is a critical part of doing business these days.
Read about the proven methods tailored to MSB's to assist your organization in its fight against cyberattacks.
CSI is a proud member of the MSBA.
The MSBA submitted a comment letter to the CFPB to explain that the obligations imposed on RTP’s through the Remittance Rule are in many ways redundant to rules already in place at the state level. Additionally, any consumer protection benefits they do afford are outweighed by the burdens imposed upon RTPs which are already sufficiently regulated by other federal agencies and the individual states. We therefore provide several recommendations for modifications to the Remittance Rule which will greatly reduce the burden and costs imposed on RTPs without sacrificing the Rule’s intended purpose of protecting consumers in the United States.Read More
The NMLS Money Services Businesses (MSB) Call Report, described by the Conference of State Bank Supervisors (CSBS) as “a new tool within the Nationwide Multistate Licensing System (NMLS) that will streamline MSB reportin ...