Sentences with phrase «banks and financial institutions require»

Furthermore, banks and financial institutions require a long list of documents and qualifications for bank accounts, and credit cards including two government approved licenses, tax income of at least two years, and financial statements from at least two different financial institutions.

Mortage, Rent and Car Payments: Many banks and financial institutions require consumers to pay their mortgage, rent and car loans by check or directly through a bank account — no credit cards allowed.

Many large banks and financial institutions require credit checks.

Most large banks and financial institutions require their applicants to fill out stacks of paperwork before they're even considered for a loan.

Not exact matches

Those federal rules, which double down on restrictions adopted in 2014 and stern warnings to lenders issued by OSFI earlier this summer, require banks to qualify borrowers at higher interest rates, impose additional limits on mortgages for buyers with small down payments, and compel financial institutions to share the risk by taking out insurance policies on low - ratio mortgages.

Post-financial market regulations (read: Dodd - Frank) have required banks and other «systemically important financial institutions» to hold more cash on their balance sheet, creating less bond inventory on balance sheets — fewer potential buyers, fewer potential sellers — if portfolio managers are forced to meet client redemptions quickly and en masse.

Second, seek legislation requiring that if a federally insured financial institution is required to pay fines to or settlements with any regulatory agency aggregating more than $ 2.5 billion in any two year period based on conduct that, if established, would constitute a crime under any law, then the CEO, President, and all Board members must step down, disgorge all of the bank's stock they own, and they are disqualified from holding any office at any federally - insured institution for the rest of their lives.

In the past, raising money as a start - up required small companies to convince banks, investors and financial institutions to take big risks, by investing large amounts of money into unproven technology and ideals.

The new law was in accordance with new regulations of the Ghana Revenue Authority (GRA), which require that all banks and financial institutions withhold a 1 % tax on interests earned on investment accounts.

Your institution's DUNS number is required for this part of the registration, along with a number of business and financial details including your institution's bank and bank account numbers (for electronic funds transfers).

The financial institutions most likely to require hard copies are banks that are brick and mortar banks foremost; banks that operate almost entirely online usually don't require you to send in hard copies.

And a foreign bank isn't required to (file and) send you 1099 - INT even in situations where a US bank (or other financial institution) wouAnd a foreign bank isn't required to (file and) send you 1099 - INT even in situations where a US bank (or other financial institution) wouand) send you 1099 - INT even in situations where a US bank (or other financial institution) would.

Under the new rules, financial institutions will now require both insured and uninsured borrowers to undergo the stress test and qualify at the greater of two options: either the five - year benchmark rate published by the Bank of Canada (currently 4.89 per cent), or the contractual mortgage rate plus two percentage points.

The prohibition does not apply if: (1) the employer is a bank or financial institution; (2) the report is required by law; or (3) the credit information is substantially related to the employee's current job or a potential job and the employer provides a written disclosure to the employee explaining its bona fide purpose for requesting or using the information in the credit report.

In both instances, these services or products may include: company financial data and economic data (e.g., unemployment, inflation rates and GDP figures), stock quotes, last sale prices and trading volumes, research reports analyzing the performance of a particular company or stock, narrowly distributed trade magazines or technical journals covering specific industries, products, or issuers, seminars or conferences registration fees which provide substantive content relating to eligible research, quantitative analytical software and software that provides analyses of securities portfolios, trading strategies and pre / post trade analytics, discussions with research analysts or meetings with corporate executives which provide a means of obtaining oral advice on securities, markets or particular issuers, short - term custody related to effecting particular transactions and clearance and settlement of those trades, lines between the broker - dealer and order management systems operated by a third party vendor, dedicated lines between the broker - dealer and the investment adviser's order management system, dedicated lines providing direct dial - up service between the investment adviser and the trading desk at the broker - dealer, message services used to transmit orders to broker - dealers for execution, electronic communication of allocation instructions between institutions and broker - dealers, comparison services required by the SEC or another regulator (e.g., use of electronic confirmation and affirmation of institutional trades), exchange of messages among broker - dealers, custodians, and institutions related to a trade, post-trade matching of trade information, routing settlement instructions to custodian banks and broker - dealers» clearing agents, software that provides algorithmic trading strategies, and trading software operated by a broker - dealer to route orders to market centers or direct market access systems.

Enacted in 2010 by a Democrat - controlled Congress and signed into law by Barack Obama, FATCA is virtually unknown to most Americans but has been wreaking havoc with the global financial system outside the US Touted as a weapon against «fat cat» tax evaders stashing funds offshore, FATCA is instead an indiscriminate information dragnet requiring all non-US financial institutions (banks, credit unions, insurance companies, investment and pension funds, etc.) in every country in the world to report data on all specified US accounts to the IRS.

The proposed regulation will require banks, insurance companies and other financial services institutions regulated by the New York State Department of Financial Services to establish and maintain a comprehensive cybersecurityfinancial services institutions regulated by the New York State Department of Financial Services to establish and maintain a comprehensive cybersecurityFinancial Services to establish and maintain a comprehensive cybersecurity program.

In particular, LexisNexis ® Risk Solutions has high - lighted five key revisions to the current legislation that banks and other financial institutions must be aware of to remain compliant in their anti-money launder - ing provisions: • Pre-paid cash cards: to reduce financial crimes linked to anonymous pre - paid instruments, vendors will be required to conduct more stringent customer verification and the thresh - old will be reduced from $ 250 to $ 150 • Digital currencies: thorough customer due diligence controls will be required by all virtual cur - ing farmers, are vulnerable to unfair trading practices employed by partners in the chain.

Banks and financial institutions usually require you to have both if you want to take a loan on your new car.

Distributed ledgers can be open, verifying anonymous actors in the network, or they can be closed and require actors in the network to be already identified — which seems to be the approach currently favored by most banks and mainstream financial institutions.

Bitcoin operates on peer - to - peer technology and does not require any bank or a financial institution as an intermediary.

The fact that exchanges are not included as financial or payment institutions has been confirmed as the most probable interpretation by several Chinese Bitcoin users, and is the arguably the only interpretation that makes sense — otherwise, why would the People's Bank write that Chinese Bitcoin exchanges are not allowed to operate in one section and then state that they are required to register with telecommunication authorities in another section?

Meanwhile, the Financial Crimes Enforcement Network (FinCEN) has suggested in a newly - released letter that companies that hold token sales may be required to register as money transfer businesses under the Bank Secrecy Act and submit to many of the AML / KYC policies that govern financial instFinancial Crimes Enforcement Network (FinCEN) has suggested in a newly - released letter that companies that hold token sales may be required to register as money transfer businesses under the Bank Secrecy Act and submit to many of the AML / KYC policies that govern financial instfinancial institutions.

Morini goes on to conclude that new business models based on distributed accounting and blockchain - based smart contracts will require additional regulatory clarity to scale, and that digital currencies or assets will need to be convertible with central bank accounts or at financial institutions.

He said that financial institutions are required to obtain licenses to carry out business such as by the China Banking Regulatory Commission and the China Insurance Regulatory Commission (CIRC).

This type of letter is required in any banks and other financial institutions.

To obtain a leadership position as bank manager in a reputable financial institution requiring considerable experience in handling all operations and overseeing the workings of a bank, proven track record of being a successful bank manager and expertise in developing business.

They may work in banks or other financial institutions and required to have exceptional customer service and follow up skills.