Compliance Action, Volume 27, Number 1

Marketing
Advertising FDIC Membership (3 Action Steps)

By Nancy Castiglione, CRCM

The FDIC has finalized amendments to its FDIC Membership Advertising regulation that includes a new section on false advertising, misrepresentation, and misuse of the regulator's name or logo.

Compliance Notes

• IRS Form 1099-MISC
• FinCEN Renews Real Estate Geographic Targeting Orders
• DOJ Announces 2022 Civil Money Penalties
• Supplemental Consumer Information Form to be Required for Loans Sold to FNMA and FHLMC

Action Training
Older Americans, Fraud, and Bank Responsibilities

By Nancy Castiglione, CRCM

With the increase in fraud targeting older Americans, banks play an important role in protecting their senior customers by monitoring, identifying, and reporting elder financial abuse.

Identity Theft
Identity Theft Red Flags Program: Annual Review and Update (2 Action Steps)

By Nancy Castiglione, CRCM

Identity theft is on the rise. Financial institutions who are required to have written programs to detect, prevent, and mitigate identity theft should also be performing annual reviews and updates to their Identity Theft Prevention Program.

Compliance Calendar

Editorial
Identity Theft: The Benefits to Having Your Identity Stolen

By Nancy Castiglione, CRCM

It turns out that falling victim to identity theft may have positive consequences in the long run.

BSA
SAR Trends Can be Useful (3 Action Steps)

By Nancy Castiglione, CRCM

SAR statistics released by FinCEN can be a useful tool in BSA training, as well as your training on identity theft and training on elder financial abuse.

Compliance Online
Elder Abuse and Elder Financial
Exploitation Statutes