ABA Risk and Compliance
 
 
 
 
March 19, 2021
Features
Navigating Virtual Examinations
Banking regulators have increasingly used offsite examinations procedures for certain types of monitoring and examination work. During the COVID-19 pandemic, nearly all supervisory events have become virtual. A few tips on how to enhance your bank’s virtual exam approach.
Meeting Needs While Stopping Misdeeds
Five lessons from past Paycheck Protection Program fraud are reshaping how banks process PPP loans and forgiveness.
Asurity Technologies
Western Union Business Solutions
WHY YOUR BANK NEEDS A CMS
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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
Banking Agencies Request Public Comment on Private Flood Insurance Guidance
The banking agencies have requested public comment on 24 proposed interagency questions and answers about private flood insurance.
CFPB Rescinds 2020 Policy Statement on ‘Abusive’ Practices Under UDAAP
The Consumer Financial Protection Bureau has rescinded a January 2020 policy statement that clarified the bureau’s approach to citing and challenging "abusive" conduct in supervision or enforcement actions.
Agencies Update FAQs on Coronavirus, CRA Activities
The banking agencies recently updated a list of frequently asked questions related to the Community Reinvestment Act and the coronavirus pandemic.
The Financial Fraud Epidemic
As the COVID-19 pandemic turns one, bankers and cyber experts reflect on the rapid rise of scams and fraud schemes aimed at banks and their customers.
May I Send Adverse Action Notices to Joint Applicants at the Same Mailing Address—Even if They Reside at Different Addresses?
... and other questions and answers from the March/April 2021 ABA Regulatory Policy and Compliance Inbox.
Fusion Risk Management, Inc.
A10 Networks, Inc
GOP Senators Caution Fed on Climate Risk Regulations for Banks
A group of Republican senators cautioned Federal Reserve Chairman Jerome Powell that using financial regulation and supervision to advance environmental policy objectives "would be beyond the scope of the Federal Reserve’s mission," and urged against taking additional actions with regard to climate-related risks.
CFPB: Discrimination Based on Gender Identity, Sexual Orientation Illegal Under ECOA
The Consumer Financial Protection Bureau has issued an interpretive rule clarifying that the prohibition against sex discrimination as part of the Equal Credit Opportunity Act and Regulation B includes sexual orientation and gender identity discrimination.
ABA Endorsed Solutions Providers Collaborate to Offer Compliance Content
ABA Endorsed Solutions providers 360factors and Crowe have announced a collaboration that will make compliance content from Crowe available on the Predict360 software from 360factors.
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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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