ABA Risk and Compliance
 
 
 
 
April 2, 2021
Webinar Next Wednesday
Nuance Communications Inc®
Regional Banks: Customer engagement and fraud prevention in a digital-first world
 
How can regional banks optimize customer engagement in a digital-first world and secure these channels from fraudsters without sacrificing experience or trust? This webinar features experts from Aite Group, Bangor Savings Bank and Nuance to provide answers. Attendees will also receive “Customer engagement in an era of rising fraud” - a companion whitepaper based on a Nuance-sponsored survey of ABA Banking Journal readers.
 
Click here to Register - April 21, 2021 - 1:00 – 2:00 pm ET
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Features
A Third-Party Oversight Program That Works
A dedicated function with new tools, training and skills is necessary for effective oversight.
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
Supreme Court Ruling Protects Banks’ Ability to Contact Customers
In a significant win for bank customers, the Supreme Court has confirmed that customers can receive important communications from their banks and other companies with whom they do business.
FinCEN Seeks Input on Creation of Beneficial Ownership Database
As part of its efforts to implement provisions of the Anti-Money Laundering Act of 2021—the first significant changes to Bank Secrecy Act/anti-money laundering rules in almost two decades—the Financial Crimes Enforcement Network is seeking public input on the creation of a national beneficial ownership database.
Yellen Flags Climate Change as Key Emerging Risk
Treasury Secretary Janet Yellen has flagged climate change as the most significant emerging risk for the Financial Stability Oversight Council to address, noting that "our financial system must be prepared for the market and credit risks of these climate-related events."
The New Digital Frontier Calls for Immediate Digital Cash Standards
New standards designed for the digital era would strengthen security, prevent fraud and finally give consumers more control over their money.
Fusion Risk Management, Inc.
A10 Networks, Inc
Fed Issues Final Rules Clarifying Role of Supervisory Guidance
The Federal Reserve has issued its final rule codifying that regulatory guidance does not have the force and effect of law, granting much of a joint petition filed by ABA and the Bank Policy Institute that sought a formal rulemaking to ensure that banking organizations would not need to rely on a 2018 interagency statement to clarify the role of guidance.
FDIC Unveils Resource Page on Brokered Deposits, National Rate Cap
With the FDIC’s new rules on brokered deposits and interest rate restrictions now in effect, the agency has unveiled a new resource page on its website where financial institutions can find information on the brokered deposit regulations and the new methodologies it uses for calculating the national rate cap.
FEMA: NFIP Overhaul Could Have Uneven Consequences for States
Ahead of an expected announcement on changes to the National Flood Insurance Program, the Federal Emergency Management Agency has begun posting information suggesting that the changes will have an uneven effect on states.
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®
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