APPLICABLE REGULATIONS AND STANDARDS
Card Compliant supports companies heavily encumbered by regulations and standards requiring robust compliance management. These companies face reams of regulations on overlapping subjects issued by multiple jurisdictions and agencies. Compliance decision-making is complex when applying difficult regulatory matrices to thousands of small dollar instruments across numerous geographies.
The Payments Industry Example: Multiple jurisdictions regulate the payments including U.S. federal and state governments and similar bodies abroad. Regulations cover multiple subjects such as consumer protection, anti-money laundering, unclaimed property, tax, and more. Accounting boards add standards such as GAAP and IFRS. Numerous agencies administer rules such as the Fed, CFPB, FTC SEC, IRS, and OCC on the federal side, and treasury and banking departments on the state. Agencies add micro-rules via manuals, guidance, frequently asked questions, desk level practices, and the like. Rules are churned by amendments, the agencies change and agency personnel move.
Card Compliant leverages technology and uses SERV-TECH to apply the rules on an individual item basis to deliver compliance services, to support compliance tasks, and to provide related analytics. Technology does the work in the face of multiple laws and high volume items.
Our Focus: GAAP Accounting Standards – IFRS Accounting Standards – Unclaimed Property Statutes – Federal & State Consumer Protection Laws – Anti-Money Laundering Regulations – OFAC – Banking Regulations – Licensing Laws – E-Money Regulations – Tax Regulations – Privacy Laws – And More.