ABA Risk and Compliance
 
 
 
 
September 18, 2020
Risk and Compliance: How to complete reports 3x faster
Nuance Communications Inc
Al-powered technological advancements have prepared the financial industry to help customers better today than a decade ago. One tool that offers compliance and risk professionals needed support is Dragon Professional Anywhere.
Click to learn more
Advertisement
 
Features
Emerging technology will enable banks to test complicated transactions and locate problems in areas that are time-consuming to monitor manually.
Effective anti-money laundering compliance processes during challenging times require team collaboration, committing to communication and paying attention to guidance.
Asurity Technologies
Western Union Business Solutions
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
In a comment letter to the CFPB, ABA offered support for recent proposals that would make changes to the Qualified Mortgage rule and ultimately allow the temporary "GSE patch"—which grants QM status to loans eligible to be purchased or guaranteed by Fannie Mae and Freddie Mac—to expire once the changes take effect.
ABA joined a coalition of trade associations in filing a friend-of-the-court brief urging the Supreme Court to interpret the Telephone Consumer Protection Act to ensure that customers can receive important communications from their banks and other companies with whom they do business.
The Financial Crimes Enforcement Network is seeking public feedback on potential changes to the Bank Secrecy Act that would enhance the overall effectiveness of banks’ anti-money laundering programs.
COVID-19 forbearance programs—and the rules, regulations and requirements that govern them—present a host of new and unique compliance challenges for mortgage servicers.
When loan officers use social media to educate, clear up confusion and offer guidance, they can be a source for good in difficult times while also building trust and closing more deals.
Biz2Credit, Inc.
Oracle Financial Services Global Business Unit
ABA, the Financial Services Forum and the Securities Industry and Financial Markets Association wrote to the Federal Reserve offering feedback on recent revisions to the Fed’s Form FR Y-14A/Q/M, the Capital Assessments and Stress Testing Reports.
The Consumer Financial Protection Bureau has issued an outline of the proposals it is considering for its rulemaking to implement Section 1071 of the Dodd-Frank Act, which concerns the collection of credit application data for women-owned, minority-owned and small businesses.
The Financial Crimes Enforcement Network has issued a final rule establishing minimum standards for anti-laundering programs for institutions lacking a federal functional regulator, including state chartered non-depository trust companies, private banks and non-federally insured credit unions.
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
 
Training

September 23
Webinar: Unclaimed Property: Escheatment Updates

October 5-21
Facilitated Online Training: Compliance School – Foundational

October 6
Webinar: Document Review Trends and Leading Industry Practices for Corporate Trustees

October 22
Webinar: Next Generation Digital Lending in a Post-COVID Era

November 2, 2020 - January 8, 2021
Facilitated Online Training: Managing Interest Rate Risk

November 18
Webinar: Industry Trends and Developments Impacting Corporate Trustees

Decmber 8-10
Virtual Conference: ABA/ABA Financial Crimes Enforcement Conference