ABA Risk and Compliance
 
 
 
 
October 30, 2020
Features
The Future of Compliance Will Require Clean Data Sets
Consolidation over the last several decades has led to disparate sources of raw data locked up in legacy systems and proprietary formats.
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
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Risk and Compliance News
Fed, FinCEN Propose to Lower Reporting Threshold for Funds Transfers
The Federal Reserve and the Financial Crimes Enforcement Network today proposed to reduce the transaction volume threshold for when banks must collect and retain information on funds transfers and remittances that start or end outside of the United States.
ABA Backs FDIC’s Proposed New Exam Appeals Process
ABA and the Bank Policy Institute jointly backed the FDIC’s proposed new independent Office of Supervisory Appeals in a letter to the agency.
How the Cloud is Helping Financial Institutions Accelerate Through Change
The coronavirus crisis is (hopefully) a once-in-a-lifetime event, but the way banks respond and adapt to its challenges has the potential to forever change the way they do business.
Fusion Risk Management, Inc.
Oracle Financial Services Global Business Unit
With Nod to Industry Progress, CFPB Seeks Feedback on Data Access Regs
The Consumer Financial Protection Bureau today issued an advance notice of proposed rulemaking on consumer-authorized access to financial records.
CFPB Finalizes Extension to GSE QM Patch
The CFPB today finalized a rule extending the temporary "GSE patch," which grants QM status to loans eligible to be purchased or guaranteed by Fannie Mae or Freddie Mac, until the QM rule changes are finalized and take effect.
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.
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