January 14 — There was a modest drop in agricultural producer sentiment in December as farmers’ perception of both current and future economic conditions weakened, according to results from the Purdue University/CME Group Ag Economy Barometer. The December barometer reading of 127 was 7 points lower than November. The barometer is based on 400 survey responses from agricultural producers across the country.
Why AI in AML makes sense.
By Alaina Webster
Recently, federal regulatory agencies issued a joint statement that, boiled down, encourages financial institutions to take advantage of the possibilities artificial intelligence (among other new technologies) might offer banks in meeting their Bank Secrecy Act/anti-money laundering compliance requirements.
By Brian McHale
Ten years ago during the height of the Great Recession, I had a thought that amidst all of the doom and gloom, there had to be some way to get ahead, to use what was going on to an advantage. I called it the “upside of down.”
By Alexander F. Koskey
The Consumer Financial Protection Bureau has issued its final rule adopting changes to Regulation P, which governs the requirements for a financial institution to issue privacy notices to its customers. The final rule implements new timing requirements for sending annual privacy notices pertaining to financial institutions that no longer qualify for the exception and eliminates the “alternative delivery” option for annual privacy notices. The most significant impact of the final rule is the creation of an exception that permits financial institutions to avoid sending annual privacy notices to its customers under certain circumstances.
As innovations in finance continue to barrel toward 2020, faster (real-time) payments seem closer than ever to becoming reality in the U.S. So, how should banks prepare for what looks like an inevitable change?