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On Thursday February 15, Banking Exchange will delve into the intricacies of contact compliance
The proposed rules would remove automatic bank merger approvals
Bank incurs penalty due to systemic deficiencies in its risk management and internal controls
The new rules could save consumers over $3.5 billion in fees per year
Over $3 Trillion of illicit funds went through the banking system last year
The BPI and ABA also released a statement saying the “changes would inflict serious harm”
President and CEO Rob Nichols said proposed rules threaten affordable deposit account products
The associations argued the CFPB’s proposal does not go far enough
The regulator also published guidance on ‘Buy Now, Pay Later’ lending
The bank said it “respectfully disagrees” with the decision
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