All articles by Joe Mont – Page 47
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CEI offers roadmap for congressional deregulation efforts
Add more ammo to the pile for republicans embracing deregulation during the Trump Administration. The Competitive Enterprise Institute is out with a comprehensive list of rule-paring recommendations. Joe Mont has more.
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Talking to ‘The Infiltrator’ about AML
Joe Mont talks to Robert Mazur, the undercover agent portrayed in the movie The Infiltrator, and Bill Sweeney, financial services evangelist at BAE Systems Applied Intelligence, about the shadowy underworld of money laundering.
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For whom the ring tolls: Companies struggle with TCPA
A sector-wide swath of companies has faced expensive troubles under the consumer-friendly Telephone Consumer Protection Act. Its upward enforcement trend is especially troubling in an age where direct outreach to consumers is of increasing importance, says Joe Mont.
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OCC sets stage for FinTech firms to charter as national banks
The Office of the Comptroller of the Currency will consider applications from financial technology (FinTech) companies to become special purpose national banks. Charters would come with heightened risk management and liquidity requirements.
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CFPB warns financial companies about sales incentives
The CFPB is warning the financial world to be leery of sales quotas that can lead to consumer harm and legal violations. Joe Mont has more on a bulletin from the Bureau that addresses best practices for a targeted compliance monitoring program.
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Trump's Treasury pick: 'stripping back Dodd-Frank' is a priority
During an interview with CNBC, Steven Mnuchin and Wilbur Ross, selected, respectively, as Treasury and Commerce secretaries, the two reiterated plans to roll back the Dodd-Frank Act.
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New York’s new cyber-security demands draw near
The Empire State is on track to impose a comprehensive slate of new cyber-security rules for banks and their vendors. More from Joe Mont.
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Court pumps brakes on Labor Department’s overtime rule
New federal overtime requirements for white-collar workers are in doubt following a nationwide injunction imposed by a federal judge, writes Joe Mont.
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New FDIC recordkeeping rule focuses on big bank failures
A new rule finalized by the FDIC creates new recordkeeping requirements for banks with a large number of deposit accounts. It is intended to facilitate customer restitution if those institutions fail.
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AML strategies keep evolving, and so do the risks
New and evolving technology may help institutions avoid AML and KYC compliance risks, or restore a damaged reputation, says Joe Mont, but not without the right strategy and training in place.
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White’s SEC departure inspires reflection, fear of ‘midnight regulations’
Chairman Mary Jo White’s pending departure from the SEC has inspired a look back at her accomplishments and encouraged advice for her successors. Joe Mont reports.
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Hiring practices trigger $264 million in FCPA fines for JPMorgan
JPMorgan Chase will pay more than $130 million to settle FCPA violations related to hiring the friends and families of government officials in Asia. Joe Mont has more.
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Federal judge halts Labor Department's 'persuader' rule
Calling the rule an impermissible intrusion upon attorney-client privilege, a federal judge in Texas has granted a permanent injunction against the Department of Labor's so called “persuader” rule. More from Joe Mont.
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Minneapolis Fed offers plan to end ‘too big to fail’
Federal Reserve Bank of Minneapolis President Neel Kashkari has unveiled a new plan he says would substantially reduce the rish of systemic threats from “too big to fail” financial institutions. More from Joe Mont.
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What President Trump means for regulation and regulators
A Trump administration promises to roll back the SEC, the CFPB, Dodd-Frank, and Obamacare. But that is all much easier said than done, reports Joe Mont.
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Q&A: NACD Managing Director Steven Walker on continuous improvement for boards
Joe Mont talks with Steven Walker of the National Association of Corporate Directors about the need for continuous improvement to corporate boards.
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White will depart SEC at end of Obama Administration
Let the shakeup begin: SEC Chair Mary Jo White has announced that she plans to step down from her post at the end of the Obama Administration. Joe Mont has more.
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SEC debates regulatory approach to FinTech
The need to balance FinTech innovations with investor protections was the underlying message at a day-long forum held by the Securities and Exchange Commission on Nov. 14. Joe Mont reports.
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SEC issues $20 million whistleblower award
On Monday, the SEC announced an award of more than $20 million to a whistleblower. It is the third largest bounty thus far for the Commission's whistleblower program. Joe Mont has more.
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Podcast: Trump, in his own words, on regulation
In this edition of the Compliance Week podcast, we offer selected soundbites from President-elect Donald Trump that detail his views of importance to public companies.