Avoiding Risky Relationships by Filling in the Gaps This month the Federal Deposit Insurance Corporation (FDIC) published a financial institutions letter detailing observations and concerns related to technology service provider contracts. In a nutshell, insufficient and unclear contract terms create risks for financial institutions. More specifically, the FDIC letter highlights concerns related to business continuity … Read more
In mortgage markets, good news and bad news often go hand in hand. Big challenges for lenders are often accompanied by large opportunities. This good news/bad news dichotomy is easy to spot in the Irish mortgage market because of its small size and exposure to both UK and EU financial trends. In the middle of … Read more
Lenders who operate across the European Union (EU) must juggle a range of regulatory requirements regarding their debt-collection strategies and processes. And oftentimes lenders must be able to react quickly to new regulatory requirements. For example, some EU countries limit how many times debt collectors can contact individuals each month about their past-due accounts. Others … Read more
At the end of July, the U.S. Office of the Comptroller of the Currency (OCC) began accepting special-purpose charter applications from fintech firms. Fintechs – which include online lenders, cryptocurrency exchanges, and payment companies — that opt for the charter would be regulated on a national level, like banks. Today, in addition to overseeing 79 … Read more
Were you perplexed by the recent bombardment of emails concerning privacy policies? Since you’re reading this, you likely know that it was due to the European Union’s General Data Protection Regulation (GDPR) going into effect on 25 May of this year. Its purpose is to protect data subjects’ control of and access to their personal … Read more
Katabat is committed to compliance with the General Data Protection Regulation (GDPR), a new data protection regulation coming into effect in the European Union on May 25, 2018. As Katabat processes personal data of EU residents on behalf of our clients, Katabat must comply with this regulation. The GDPR introduces requirements for organizations controlling or … Read more
The 2007/2008 financial crisis resulted in many new regulations imposed upon the banking industry. Ten years later, most of these regulations have been fully or nearly fully enacted. Examples include the Dodd-Frank Wall Street Reform and Consumer Protection Act as well as the Credit Card Accountability Responsibility and Disclosure Act in the US. Basel III … Read more
I was given pause recently when hearing a client tell me that they were ‘throwing bodies at the problem’ of putting the bank into position to be able to withstand upcoming audits. “What are all those people going to be doing?” I asked, naively. Turns out that even when the bank has expensive, high-tech systems … Read more
