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FinCEN has announced its decision to issue an RFI related to the requirements for banks under the CIP Rule to collect a TIN from a client before opening an account.
regulation, fraud management, fraud detection, online fraud, fraud prevention, AML, financial crime, cybercrime
The Consumer Financial Protection Bureau has finalised a rule that bans excessive credit card late fees, lowering typical fees from USD 32 to USD 8.
regulation, credit card, credit card fraud, payments , online payments, ecommerce, banking
Eli Shoshani, Head of APAC at Bottomline, shares his predictions for the future of alternative payments networks.
Bottomline Technologies, Russia Ukraine War, financial sanctions, banks, online payments
The US Federal Reserve Board of Governors approved the extension of the National Settlement Service operating hours, which is necessary for the expansion of Same Day ACH.
Same Day ACH, ACH, Automated Clearing House, United States, Nacha, National Automated Clearing House Association, Same Day ACH payments, The US Federal Reserve Board of Governors
The Board of Governors of the Federal Reserve has announced it will not be forcing the US branches of foreign banks to hold a minimum level of liquid assets.
US, Federal Reserve, liquidity, liquidity rules, banking, foreign bank, North America, liquid assets, US bank branch, Dodd-Frank Act, off-balance sheet exposure