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Compliance Action, Volume 26, Number 8

December 28, 2021

Happy New Year from all of us at Compliance Action! Thank you for your support in 2021 and your continued support in 2022!

Regulation Z
LIBOR Transition Amendments (5 Action Steps)

By Nancy Castiglione, CRCM

The CFPB's final rule amending Regulation Z impacting consumer loan products and agreements tied to LIBOR goes into effect April 1, 2022, for the most part.

OCC
Computer Incident Notification Rule (5 Action Steps)

By Nancy Castiglione, CRCM

The agencies have issued their Computer-Security Incident Notification Rule for supervised institutions and their service providers that mandates prompt, timely response for computer-security incidents that rise to the level of notification worthiness.

Action Training
Thresholds and Exemption Levels (Updated)

By Nancy Castiglione, CRCM

When it comes to compliance, the only constant is change. Since publishing the Thresholds and Exemption Levels chart in the last issue, the CFPB has added some more updates that you will want to include in your training and procedures for 2022.

Compliance Calendar

Editorial
Updated BSA/AML Examination Manual Sections

By Nancy Castiglione, CRCM

The FFIEC has released new and updated sections of the FFIEC BSA/AML Examination Manual that stress the importance of a risk-based approach.

Compliance Notes

FTC
FTC Standards for Safeguarding Customer Information Rule (2 Action Steps)

By Nancy Castiglione, CRCM

The FTC has updated its Standards for Safeguarding Customer Information Rule that has significantly expanded the scope and depth of the original 2002 rule – and goes into effect in less than two weeks.

Compliance Online
CSBS Cannabis Job Aid

Editor:
Nancy Castiglione, CRCM
Editor Emeritus:
Lucy H. Griffin, Esq.
Board of Advisors:
John S. Byrne, Esq.
Cliff E. Cook
David Dickinson
Julie A. Gliha, MBA
Carl G. Pry
Susan Rich
Meg Sczyrba
Robert G. Rowe, III, Esq.
Andy Zavoina

Compliance Action

Bankers' Hotline

Compliance Action