ABA Risk and Compliance
 
 
 
 
April 29, 2022
Features
The case for one-click compliance to fight cyber attacks
Helping banks secure their email—and their organizations
Four ways banks can successfully de-risk legacy application cloud migrations
Which applications can be moved safely as they are, which ones should be modernized before they are moved and which ones should not be moved at all?
Asurity Technologies
International Monetary Fund
1071: What Does the Final Rule Mean for Small Business Lenders
Ncontracts®
The CFPB has released the final rule implementing Section 1071 of the Dodd-Frank Act. Ncontracts regulatory compliance experts have gone through all 800+ pages. Whether you're a commercial lender, compliance professional, or member of the C-suite, this webinar on Thursday, April 20, 2023 at 1pm CST will help you understand what the Section 1071 final rule means for your team and how to move forward with confidence. 
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Risk and Compliance News
ABA, SBAs: CFPB RFI shows ‘deeply flawed conclusions’ on consumer financial markets
ABA and all 51 state bankers associations directly challenged the CFPB on a recent request for information regarding fees associated with financial products and services offered by banks and non-bank financial institutions, including overdraft fees, insufficient funds fees, credit card fees, remittance fees, prepaid account fees and mortgage fees, among others.
CFPB to examine nonbanks for consumer risks
The Consumer Financial Protection Bureau has said it will invoke a "largely unused" authority under the Dodd-Frank Act to directly examine nonbank financial services providers. "Given the rapid growth of consumer offerings by nonbanks, the CFPB is now utilizing a dormant authority to hold nonbanks to the same standards that banks are held to," said CFPB Director Rohit Chopra.
Shorter settlement cycle means banks’ brokerage services face challenges
Banks that retain more of their brokerage activity in-house but outsource functions such as trade execution or clearing to third parties will face bigger hurdles.
What’s up with e-comms? Banks can’t slack in monitoring them
Banks face the challenge of future-proofing their use of messaging applications that are sure to face regulatory scrutiny.
Winnow Solutions, LLC
Trade groups: CFPB’s revised adjudication rules ‘a step in the wrong direction’
The CFPB’s newly revised rules of practice for administrative adjudication are "a step in the wrong direction," expanding the powers of the bureau’s already-powerful director and reducing protections for defendant companies, says a coalition of financial services groups including ABA.
OFAC announces additional Russian sanctions
The Treasury Department’s Office of Foreign Assets Control sanctioned Transkapitalbank, a Russian commercial bank, and its subsidiary, Joint Stock Company Investtradebank for sanctions evasion activity connected to the recent Russian invasion of Ukraine.
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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