ABA Risk and Compliance
 
 
 
 
May 29, 2020
Features
Four Ways Banks Protect Seniors by Reducing Social Isolation
For seniors, social distancing saves lives but breeds vulnerability to fraud. Here’s how banks are protecting older Americans’ finances in the COVID-19 era and beyond.
A Return to (More or Less) Normal Bank Operations
With the COVID-19 curve flattening and states beginning to open for business, how are banks preparing for what’s next?
Securing the Remote Bank Workforce
Addressing security concerns, measures and protocols are essential when the bankers themselves are the ones practicing mobile banking.
Mailinglists.com
PWCampbell
WHY YOUR BANK NEEDS A CMS
Ncontracts
Regulators have been emphasizing the importance of a strong and effective Compliance Management System. This whitepaper will walk you through the basics of a CMS while offering practical advice on how to ensure your CMS supports your strategic goals.Takeaways include:
·A primer on CMS requirements
·4 key elements to prioritize when designing or updating a CMS
·7 CMS features that should align with your bank’s goal and structure
·Examples of failed CMSs and compliance controls
CLICK HERE TO DOWNLOAD AND LEARN ABOUT OUR CMS SOFTWARE
Advertisement
 
Risk and Compliance News
ARRC Releases ‘Best Practices’ for Libor Transition
The Alternative Reference Rates Committee today issued a set of best practices to help market participants complete preparations for the possible cessation of the U.S. dollar-denominated London Interbank Offered Rate after 2021, including recommended timelines.
New Industry Coalition to Support Banks’ Cyber Risk, Compliance Efforts
A coalition of 31 financial institutions and trade associations—including the ABA and led by the Bank Policy Institute—have announced the creation of the Cyber Risk Institute.
FinCEN to Update Methodology for Calculating Regulatory Burden of SARs
Bank Secrecy Act reporting institutions annually spend roughly $206 million and 5.4 million hours of work investigating, evaluating cases and filing Suspicious Activity Reports, according to a new analysis from the Financial Crimes Enforcement Network.
ABA Announces New Risk and Compliance Virtual Conference
To support bankers as they continue to manage and plan for new challenges, ABA will hold a national Risk and Compliance Virtual Conference on July 28-30.
Naylor Association Solutions
Naylor Association Solutions
Agencies Issue FAQs on Coronavirus, Community Reinvestment Act Activities
The OCC has released a list of 13 interagency frequently asked questions related to the Community Reinvestment Act and the coronavirus pandemic.
CFPB Issues No-Action Letter Templates to Encourage Innovative Offerings During Pandemic
To help financial service providers assist struggling borrowers during the coronavirus pandemic, the Consumer Financial Protection Bureau has issued two no-action letter templates that are intended to help institutions make their own NAL applications for certain consumer financial products and services, as allowed under the CFPB’s innovation policy.
ABA Highlights Broad Support for Petition to Facilitate COVID-19-Related Calls
ABA and six other financial trade groups wrote to the Federal Communications Commission, highlighting broad support for an ABA-led petition seeking an expedited declaratory ruling or waiver from the FCC to confirm that financial institutions’ COVID-19-related calls are exempt from the Telephone Consumer Protection Act’s requirements.
Data Breach Response Ready
Experian Partner Solutions®
Your free go-to hub to help your business take those crucial first steps in preparing a customer first notification response. Data breach incidents unfortunately happen daily, across all businesses, all over the world. We created this hub especially for businesses to feel confident, secure, and prepared for a data breach. Whether your business is small, medium or large, we will partner to help you take proactive steps in all stages of a breach.
Be Response Ready®
Advertisement