Natalie Lamarque

In 2022, Beneficial State Foundation (BSF) launched the Equitable Bank Standards. Since then, much has changed in the financial industry and the Standards marketplace more generally. As we prepare to revise the Standards in 2025, we want to hear what you believe is needed for financial institutions to better foster an equitable and regenerative future for all communities. Share your feedback on which standards resonate, and suggest any updates, refinements, or additions that can drive meaningful change. Your insights will guide us in making the Standards more practical, user-friendly, and impactful for the financial industry. #EconomicJustice bit.ly/ebspubliccomment

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Make your voice heard! Beneficial State Foundation is seeking feedback on what equitable banking could look like. In preparation to update the 2022 Equitable Bank Standards, they want to hear from you - there are 3 weeks left! Share your input here: bit.ly/ebspubliccomment Take a look at the current Equitable Bank Standards here: https://lnkd.in/gsN3ZcWy #financialbelonging #financialempowerment #financialwellbeing #financialinclusion #financialaccess #BankOn #BankOnWA

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The latest release of Community Banking Connections is available now. In this release, Carl White, senior vice president of the Supervision Division at the Federal Reserve Bank of St. Louis, discusses how the Federal Reserve supports community banks in understanding risks and the Federal Reserve’s supervisory expectations for managing risks. Also, there is an article that addresses what bankers need to know about understanding and responding to supervisory messages. Community Banking Connections is a source for information on supervisory guidance, resources, and tools to help community bankers in conducting their business in a safe and sound manner. Read the articles here: https://bit.ly/3NsZpFr

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Need to catch up on #compliance news? We've got you covered. This month's regulatory briefing breaks down the latest developments from the CFPB, redlining enforcement actions, and more. Listen to the full podcast or read the highlights: https://lnkd.in/gRaNM-Vc

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92% of ICBA member banks rely on our Preferred Service Providers, and 52% couldn’t offer certain services without them. At the PSP Engagement Forum, we connected bankers and PSPs to drive innovation, collaboration, and stronger community banking:

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The Consumer Financial Protection Bureau (CFPB) is examining earned wage access (EWA) apps more closely and proposing new rules that could significantly impact employees. On July 18, the CFPB proposed classifying EWA apps as consumer loans, subjecting them to the Truth in Lending Act. This change ensures transparency by requiring companies to disclose all loan costs and fees as an annual percentage rate (APR). 𝐇𝐨𝐰 𝐭𝐡𝐞 𝐍𝐞𝐰 𝐂𝐅𝐏𝐁 𝐆𝐮𝐢𝐝𝐞𝐥𝐢𝐧𝐞𝐬 𝐈𝐦𝐩𝐚𝐜𝐭 𝐄𝐦𝐩𝐥𝐨𝐲𝐞𝐞𝐬 For employees, this could mean more clarity on the actual cost of accessing their wages early, helping them make more informed financial decisions. Many workers rely on EWA apps to manage financial stress and cover unexpected expenses. With high inflation and many employees living paycheck to paycheck, instant access to earnings has become a valuable benefit. The 2024 SHRM Employee Benefits Survey noted that 16% of employers offer payroll advances, highlighting the growing popularity of this service. However, with the CFPB's proposed changes, employees may face clearer but potentially higher disclosed costs when accessing their earned wages early. 𝐇𝐨𝐰 𝐭𝐡𝐞 𝐍𝐞𝐰 𝐂𝐅𝐏𝐁 𝐆𝐮𝐢𝐝𝐞𝐥𝐢𝐧𝐞𝐬 𝐈𝐦𝐩𝐚𝐜𝐭 𝐄𝐦𝐩𝐥𝐨𝐲𝐞𝐫𝐬 For employers, the new CFPB guidelines could necessitate changes in how earned wage access benefits are offered. Companies like Walmart, Bath & Body Works, and McDonald's use EWA apps as a competitive edge to attract and retain employees. The proposed rules would require these companies to make additional disclosures and possibly rethink the structure of their instant pay benefits. Employers may need to absorb the costs associated with EWA apps or adjust their policies to comply with the new regulations. While this could mean more administrative work and potential expenses, it also underscores the commitment to employee financial wellness. Borja Perez, VP at CloudPay, emphasized that EWA should remain a no-fee benefit, aligning with today's on-demand culture and providing essential relief to those living paycheck to paycheck. As the landscape of employee benefits evolves, staying informed and adaptable will be crucial for both workers and employers. #employeebenefits #financialwellness #payroll #hr #earnedwageaccess #financialinclusion #workplacebenefits #lightedlanternsllc

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In this episode of ACAMS Live, Craig Timm discusses the key takeaways from the recent Law Enforcement Seminar. 1️⃣ Whistleblowers are the number one source of new cases against financial institutions and their employees, according to Michael Grady, Chief, Bank Integrity Unit, U.S. Department of Justice, Criminal Division. This is attributed to Financial Crimes Enforcement Network, US Treasury's (FinCEN) whistleblower program, part of the AML Act 2020. 2️⃣ Threat of AI. The Federal Bureau of Investigation (FBI), IRS Criminal Investigation,U.S. Department of Justice (DOJ), and Brooklyn District Attorney's Office present concerning trends including account takeovers and deep fakes, where criminal use of AI is evolving and increasing in sophistication. 3️⃣ Effective engagement on subpoenas is critical for law enforcement. However, poor communication and lack of understanding waste resources. ACAMS Making Subpoena Process More Effective Toolkit addresses some of these challenges. (link in the comments). Did you attend the seminar? What were your takeaways? Have you had a positive experience where a public-private partnership made a difference? Let us know in the comments. #LawEnforcement #ACAMSLive #AML

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#OnlineFirst The Circle of Accountability: Examining Accountability when and Power-Related Implications in the Context of Credit Unions by Antonius Sumarwan & Belinda Luke This article focuses on Indonesian credit unions as member-based social enterprises. Using data from interviews, focus groups and secondary sources, the authors explore #Accountability practices in this context. Article is also #OpenAccess https://lnkd.in/ehwhbpkt

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Yesterday, the OpenID Foundation submitted an open letter to the Consumer Financial Protection Bureau to encourage them to include reference to a Qualified Industry Standard for a Communication Protocol within their Notice of Proposed Rulemaking on Personal Financial Data Rights. Without such a standard, such as the #FAPI protocol that has been selected by 10+ jurisdictions around the world, the CFPB risks: 🔓 Heightened #security risks to the global supply chain as a result of lowest-cost, untested implementations 🚆 A lack of #interoperability that makes implementation costlier and more complex for third-parties ⏳ A slower time-to-market for #openbanking 😣 Frustrating #userexperience Financial Data Exchange National Institute of Standards and Technology (NIST) Cybersecurity and Infrastructure Security Agency Don Cardinal Nat Sakimura 💯Dima Postnikov 🆔 💯 Joseph Heenan Mark Haine 💯 Dave Tonge Marie Jordan Nancy Cam-Winget George Fletcher Ian Glazer Kosuke Koiwai Adam M. Sommer Pamela Dingle Osamu Oshima Aaron Parecki Wesley Dunnington Ben Boeser Naveen CM https://lnkd.in/emXPnvxU

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The Consumer Financial Protection Bureau has announced its much-anticipated plans to shepherd the adoption of open banking in the United States. Third-party financial companies are the driving force behind the open-banking model. However, regulators, including the CFPB, have expressed ongoing concerns about the growing dependence on fintech companies that aren’t required to comply with conventional banking regulations. Read more: https://ow.ly/ug5q50TSQ41 #CFPB #payments #openbanking #regulations #instantpayments

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We feel the same, Christopher Williston VI, CAE. Kudos to The Baker Group and IBAT. Very comforting to see such strong passion, leadership and commitment to the future of our vital community banks. #communitybanking #regionalbanking #IBAT #visibility #strategicvisibility #communitybank #risk #finance #fintech #opportunities #riskmanagement #ERM #ECRM #engagement #banking #CFO #enterpriseriskmanagement #CECL #credit #creditrisk #creditriskmanagement #CRO #compliancerisk #compliance 

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On #NationalWhistleblowerDay, we are reminding companies: broad NDAs that deter employees from reporting wrongdoing not only impede investigations, they may violate federal law.

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Is your financial policy management flexible enough to keep up with today’s regulatory demands? Join our upcoming webinar with Norm Friend and discover how to manage policies more efficiently and stay ahead of compliance requirements. Head to the comments to find the link to register!

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This just in 📣: The Consumer Financial Protection Bureau recently released their final rule to supervise some of the largest digital payment apps to ensure they are following federal law just like #Banks, #CreditUnions and other financial institutions. Read more about the final rule and comments from CFPB Director Rohit Chopra: https://lnkd.in/eNFTcUGB

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🔔 Major Milestone in Open Banking! 🔔 The Consumer Financial Protection Bureau (CFPB) has taken a crucial step in the enforcement of Open Banking standards. The CFPB has finalized a rule to recognize industry standard-setting bodies for Open Banking. This rule outlines qualifications for these bodies to ensure openness, transparency, balanced decision-making, and due process. The recognized standards will help implement the upcoming Personal Financial Data Rights rule, promoting innovation and fair competition. The rule includes a step-by-step guide for applications and mechanisms for maintaining recognition standards. NOTE: This is Not the publication of the final 1033 rule that will be published in the Fall but is a giant step in preparing for the 1033 implementation and to ensure its success. Follow OpenFinity and join http://openfinity.org today to stay informed. Read more here: https://lnkd.in/gJTm6NGs #openbanking #openfinance #CFPB #FDX Laurent Van Huffel, Laura Heritage Financial Data Exchange

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Native American Financial Institutions (NAFIs) include banks, credit unions, and loan funds that serve Native communities across the United States and foster financial inclusion in Indian Country. A tool from CICD helps you explore NAFIs in your area ⬇️ https://bit.ly/3EH7GyK

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As BNPL grows, the regulatory activity ramps up to ensure consumer protection alongside it. 🇺🇸 Today the CFPB announced a new interpretative rule for the Truth in Lending Act, bringing BNPL lenders within the scope of the same laws that currently apply to credit card providers. Key consumer protections that BNPL lenders must implement include: - Investigation of disputes - Refunding returned products or cancelled services - Providing billing statements 🗽 Yesterday, the NY State Senate tabled a Bill which seeks to impose new licensing and disclosure requirements on BNPLs. These new requirements will include the obligation to comply with (as yet unpublished) reporting regulations, which will set out how BNPLs are to report BNPL consumer data. 🇪🇺 This comes a month after the CFPB released an update on its ongoing dialogue with the European Commission regarding consumer financial protections, with BNPL a key focus. The CFPB has made clear its intention to continue to carefully monitor these markets and take action to ensure that consumers are treated fairly. 🌎 We aim to smooth the path for our BNPL partners by providing real-time, accurate and secure reporting. Transparency over consumers’ BNPL usage (without compromising personal information) will be key to helping BNPLs comply with their growing regulatory burden, as well as improving consumer financial health in general. #BNPL #Fintech #ConsumerProtection #CFPB

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