ABA Risk and Compliance
 
 
 
 
December 10, 2021
Financing a Net Zero Economy: The Consequences of Physical Climate Risk for Banks
Ceres®
Ceres analyzed the risks banks face from climate transition risk.
Click here to learn more
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Features
Four Best Practices for Advancing Bank Cybersecurity Programs for the Cloud Age
Effective cybersecurity practice means new focuses and a new culture for a digital age.
Combating the Six Types of Financial Crime That Spiked During the Pandemic
Among the ways banks can respond to today’s quickly changing criminal activity is by incorporating flexible fraud-detection controls that allow them to create or adjust rules on the fly.
Asurity Technologies
International Monetary Fund
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
OCC’s Hsu Pushes Envelope with Call for ‘No-Cost Overdrafts’
The OCC identified principles for banks to implement what it calls "responsible overdraft programs that benefit financially vulnerable consumers," while continuing to encourage banks to offer other options for short-term, small-dollar credit, Acting Comptroller of the Currency Michael Hsu said in a recent speech.
CFPB Flags Mortgage Servicing, Fair Lending Issue in Supervisory Highlights Report
The CFPB issued a "Supervisory Highlights" report focusing on examiner observations of several financial products conducted between January and June of 2021.
HUD: Reg B-Compliant Loan Programs Targeting Underserved Groups Don’t Violate Fair Housing Act
The Department of Housing and Urban Development issued guidance that for-profit companies’ special-purpose credit programs designed and implemented with the Equal Credit Opportunity Act do not generally violate the Fair Housing Act.
Protecting Your M&A Investment with Smart Communications
The imperative of leveraging required regulatory communications to create positive customer experiences and marketing opportunities.
OCC: Operational, Strategic Risk Elevated; Banks Remain Resilient
In its Semiannual Risk Perspective Report, the OCC flagged operational risk and strategic risk as being elevated, with banks continuing to face increasingly sophisticated cyberattacks and take strategic risks in order to improve earnings in the current economic environment.
Abrigo
A10 Networks, Inc
Federal Court Issues Nationwide Injunction Against Federal Contractors Vaccine Mandate
A federal court in Georgia this week enjoined the federal government nationwide from enforcing its vaccine mandate for federal contractors working on federal contracts.
FinCEN Proposes Beneficial Ownership Reporting Requirements
The Financial Crimes Enforcement Network has proposed regulations to implement the Corporate Transparency Act—a bipartisan, ABA-supported bill that was included in the broader package of Bank Secrecy Act/anti-money laundering reforms in the AML Act of 2020.
CFPB Finalizes Reg Z Libor Proposal
As the industry prepares for the discontinuation of Libor, the CFPB finalized changes to Regulation Z designed to facilitate the transition to alternate reference rates. The final rule amends open-end and closed-end provisions to provide examples of replacement indexes for Libor indexes that meet Reg Z standards.
Crisis Response Management: Decoded
Experian Partner Solutions®
In an age of infinite information where a company’s reputation can be destroyed in as little as 140 characters, it may seem difficult to bounce back from a crisis, but it is possible. Businesses that are prepared for natural disasters or other incidents can protect themselves from serious financial losses, and keep their reputation and customer loyalty intact, if they have the right tools.
Download this e-book to explore
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Training

December 16
Webinar: Risk Management: Takeaways From 2021 and What to Watch for in 2022

2022
January 11 - 13
Virtual Conference: ABA/ABA Financial Crimes Enforcement Conference

January 24 - February 25
Facilitated Training: Managing Funding, Liquidity and Capital

January 30 - February 2
Conference: Insurance Risk Management Forum
Omni Amelia Island Resort, Amelia Island, FL

March 21 - April 22
Facilitated Training: Managing the Bank's Investment Portfolio

March 23 - April 6
Virtual School: Compliance School - Foundational

March 29 - 31
Virtual Conference: Risk Management Conference