The deadline cometh. Today (May 11) is the day the final rule, served up by the Financial Crimes Enforcement Network (FinCEN), takes effect. The CDD Rule — titled “Customer Due Diligence Requirements for Financial Institutions” — amends the Bank Secrecy Act regulations. And, in a reminder to FIs,...
Innovation implies a break from the conventional ways of operating a business. Ultimately, innovation is oxygen for companies in almost any vertical, as competition demands new products and services, improving customer experiences in unexpected ways. It’s no secret that the regulatory landscape is shifting quickly,...
At first glance, becoming a payments facilitator seems a sure-fire way to help simplify the merchant account enrollment journey. But as with any corporate endeavor, the devil is in the details, as Mike Cottrell, SVP of Business Development at TSYS’ ProPay, tells PYMNTS’ Karen Webster.
May 11, 2018
Innovation implies a break from the conventional ways of operating a business. Ultimately, innovation is oxygen for companies in almost any vertical, as competition demands new products and services, improving customer experiences in unexpected ways. It’s no secret that the regulatory landscape is shifting quickly, requiring firms catering to those very customers through innovation to […]
December 14, 2017
At first glance, becoming a payments facilitator seems a sure-fire way to help simplify the merchant account enrollment journey. But as with any corporate endeavor, the devil is in the...
June 08, 2023
Lawmakers are demanding greater clarity on FinCEN’s forthcoming beneficial ownership reporting requirements. In a Wednesday (June 7) letter to Financial Crimes Enforcement Network (FinCEN) Acting Director Himamauli Das and U.S. Treasury Secretary Janet Yellen, several House members, including House Financial Services Committee Chairman Patrick McHenry, R-N.C., expressed concern that with only six months until the effective date of the impending Beneficial Ownership Information collection rule, FinCEN has […]
