Safeguard your Business: Dinsmore's Craig Horbus on Combatting the Rising Threat of ACH Fraud
Automated Clearing House (ACH) fraud involves the unauthorized use of the ACH network to transfer funds from a bank account. It poses serious challenges for companies that can lead to substantial financial losses as well as...more
Recently, FINRA accepted a letter of acceptance, waiver and consent from a brokerage firm to settle alleged rule violations. The settlement concerns a series of unauthorized Automated Clearing House (ACH) transfers from a...more
The Treasury Department and IRS recently issued final regulations on the transfer of certain credits to implement the transferability provisions of the Inflation Reduction Act (IRA), which take effect on July 1, 2024....more
On July 26, the Consumer Financial Protection Bureau (CFPB or Bureau) released the summer edition of its Supervisory Highlights report, providing a high-level overview of alleged unfair, deceptive, or abusive acts or...more
Consumers and businesses stand to benefit from rapid access to funds at any time when routed through participating financial institutions. On July 20, 2023, the Federal Reserve announced the long-awaited launch of its...more
In this 1 hour webinar, Donna Cameron – Mitratech’s Senior Regulatory Compliance Expert – will cover: 1. An overview of the previous quarter’s regulatory changes, reporting not only on the content of these changes, but...more
In this 1 hour webinar, Donna Cameron – Senior Regulatory Compliance Expert – will provide: - An overview of the previous quarter’s regulatory changes, reporting not only on the content of these changes, but also on the...more
As updated statistics from the FBI’s Internet Crime Complaint Center show, business email compromise (BEC) schemes increasingly put funds transfers at risk. Between June 2016 and December 2021, reported exposed dollar loss...more
On April 11, 2022, the Drug Enforcement Administration (DEA) released a final rule which amends DEA regulations to now require all applications for DEA registrations, and renewal of those registrations, to be submitted...more
Don’t forget that new SEC rules went into effect on January 31, 2022 to modernize filing fee disclosure and payment methods for securities transactions...more
The US Securities and Exchange Commission (SEC) has adopted amendments that allow for new payment methods for filing fees, including Automated Clearing House (ACH) payments and debit and credit card payments; revise most...more
On October 13, 2021, the U.S. Securities and Exchange Commission adopted final rules that amend several fee-bearing forms, schedules, statements and related rules to modernize filing fee disclosure and payment methods for...more
In This Issue. The U.S. Securities and Exchange Commission (SEC) adopted amendments to modernize filing fee disclosure and payment methods; the Financial Industry Regulatory Authority (FINRA) announced an examination of...more
On June 11, 2021, HHS published an updated Post-Payment Notice of Reporting Requirements (the Notice). Notably, the Notice describes how the period of availability of CARES Act Provider Relief Fund (PRF) payments is based on...more
The U.S. Department of Health and Human Services (HHS) has issued new guidance extending the timeline for health care providers that received more than $10,000 in payments from the Provider Relief Fund (PRF) to expend and...more
On Friday, June 11, 2021, the Department of Health and Human Services (HHS) announced four new deadlines for using and reporting on Provider Relief Fund (PRF) distributions. The new guidance was issued through an updated...more
On October 24, 2019, the SEC proposed amendments (https://www.sec.gov/rules/proposed/2019/33-10720.pdf) that would modernize filing fee disclosure and payment methods for most SEC forms that require fees to be paid...more
A portion of the Treasury’s report entitled “A Financial System That Creates Economic Opportunities, Nonbank Financials, Fintech, and Innovation,” focuses on payments. ...more
On January 17, 2017, officials in Farmington, Connecticut disclosed that the town was recently the victim of a multi-million dollar theft likely perpetrated by sophisticated cybercriminals operating in China. The thieves...more
For most Americans, the term "money laundering" conjures an image of boxes of currency flown to the United States via seaplane—or former dictators paying cash for multimillion-dollar homes in swanky communities. Virtually no...more
Bringing banks into the battle over payday lending, the Consumer Financial Protection Bureau (CFPB) released a report finding that online payday loans "add a steep, hidden cost" to consumers by racking up bank fees....more
Update: The Federal Reserve received forty comments in response to its request. A majority of the commenters supported both mandatory participation by RDFIs and the same-day fee payable by ODFIs to RDFIs. Many commenters...more
On September 23, the Federal Reserve Board announced the approval of “enhancements” to the Federal Reserve Banks’ same-day automated clearing house (ACH) service. According to the Fed, “[t]he enhancements are intended to...more
Could your institution be at risk of liability for unauthorized wire transfers and Automated Clearing House (“ACH”) credit transfers? Data security breaches continue to garner headlines, and criminals continue to engage in...more