- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-06-14T20:37:00
The Federal Reserve Board ordered an Arkansas bank that partnered with numerous financial technology (fintech) companies to correct deficiencies in its anti-money laundering (AML), sanctions, risk management, and consumer compliance programs.
Evolve Bank & Trust engaged in unsafe and unsound business practices related to third-party fintech companies it partnered with, the Fed said Friday in a press release.
One of the third parties connected with Evolve was software-as-a-service platform Synapse, which filed for bankruptcy in May. Evolve responded to Synapse’s bankruptcy at the time in a press release.
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
2024-09-18T16:43:00Z By Aaron Nicodemus
The Federal Deposit Insurance Corporation proposed a new rule that would require banks to keep better deposit records on ownership of funds controlled by their financial technology partners.
2024-07-26T19:49:00Z By Aaron Nicodemus
Three federal banking regulators issued guidance on the risks posed by the use of third-party financial technology firms to deliver bank deposit products and services to customers.
2024-07-01T15:44:00Z By Aaron Nicodemus
During a panel at Compliance Week’s Financial Crimes and Regulatory Compliance Summit, held June 10-11 in New York, experts discussed nuances in bank-financial technology partnerships, offering best practices for how banks should protect themselves.
2025-05-20T12:30:00Z By Oscar Gonzalez
The U.S. Federal Trade Commission (FTC) took action against a pair of student loan debt relief companies for allegedly deceiving borrowers. The move came despite the Trump administration’s broader efforts to roll back enforcement actions against businesses since taking office.
2025-05-16T19:24:00Z By Oscar Gonzalez
After dismissing its lawsuit against the crypto exchange Coinbase in March, a second investigation into the exchange by the Securities and Exchange Commission has surfaced, according to a report from the New York Times. This comes as a bit of a surprise after the Trump administration has been scaling down ...
2025-05-16T14:16:00Z By Aaron Nicodemus
As the Consumer Financial Protection Bureau steps back from its core mission of protecting American consumers, states like New York and Pennsylvania are stepping up to fill the regulatory void.
Site powered by Webvision Cloud