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CFPB Proposes to Regulate Large Digital Wallet and Payment App Providers

Global Fintech & Digital Assets

Under the Dodd-Frank Act, large non-bank digital consumer payment companies are subject to CFPB enforcement authority. Under the Proposal, however, they would be subject to heightened scrutiny via routine monitoring, requests for information, and on-site or off-site compliance examinations.

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Mastering the Art of Vendor Selection: A Friendly Guide

Nanonets

Effective  vendor management  contributes to cost optimization,  risk mitigation , and quality assurance. Prior to entering into contractual agreements, conducting initial risk assessments is crucial to understand potential risks associated with the vendors. Key Stages of the Vendor Selection Process 1.

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Everything You Need to Know about Procurement for Businesses: A Practical Guide for CFOs and Finance Leaders

Nanonets

They send out Requests for Information (RFI) to gather initial data on suppliers' capabilities and compliance with industry standards. Payment Processing: Once the three-way match is confirmed, a Payment Authorization Form is prepared, and the payment is processed according to the terms of the Supply Agreement.