Financial institutions across the U.S. have grappled with compliance requirements under the Customer Identification Program, or CIP, rule for more than two decades.
On June 27, the Federal Deposit Insurance Corp., the...more
Financial institutions across the United States have grappled with compliance requirements under the Customer Identification Program (CIP) Rule for more than two decades. A new exemption, approved in June 2025, promises...more
7/10/2025
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Customer Identification Program (CIP) ,
Data Collection ,
Data Security ,
Enforcement ,
Financial Institutions ,
FinCEN ,
FinTech ,
New Regulations ,
Patriot Act ,
Regulatory Reform ,
Risk Management
Cybersecurity is a looming threat for most businesses. The impact of a major cyber event can resonate for weeks, months, and even years after the initial attack. To mitigate the risks to consumers, there have been several...more
6/7/2023
/ Amended Rules ,
Compliance ,
Cybersecurity ,
Data Disposal Protocols ,
Data Retention ,
Encryption ,
Exemptions ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Gramm-Leach-Blilely Act ,
Incident Response Plans ,
Information Systems Security Program (ISSP) ,
Multi-Factor Authentication ,
Popular ,
Risk Management ,
Safeguards Rule ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Training Requirements
Over the past decade, financial technology companies (fintechs) have been on the rise, disrupting all segments of the financial industry. Their innovative technology, swift adaptation to market trends, and ability to create...more