Nobody wants compliance mistakes but when they are tolerable and in moderation, you grow, you learn from them and that leads to improvement and survival in a tough world of compliance and banking.
When your bank receives a claim that an ACH charge to a customer’s account was unauthorized, you have to respond correctly and your customer expects swift results.
I heard a banker comment that, “Reg E hasn’t changed, so what’s to learn?” The Reg itself and the commentary haven’t changed, interpretations of who is a financial institution, what is an error and who has to investigate errors have.
Recorded on February 20, 2024
The FDIC’s Revised Advertisement of Membership Rule: Getting
The FDIC’s revised regulation on Advertisement of Membership, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo becomes effective April 1, 2024, with a mandatory compliance date of January 1, 2025.
Audit and Internal Controls,Compliance,Compliance Management and There is a saying, “you don’t know, what you don’t know.” While true, recognize you will still be responsible for all things compliance that you should know.
There are many ways to violate military lending rules and some lenders are actively doing this. One lender recently agreed to pay $225,000 because they were not providing the interest rate adjustments the SCRA requires.
Nearly 88 percent of Americans accessed their checking accounts using a smartphone or tablet in 2022, and more than half of that group mobile-deposited one or more checks in 2022.
State laws on accounts for minors vary widely from state to state, but all states have some version of the Uniform Transfers to Minors Act to provide a framework for property (including money) to be held for a minor’s benefit.
In October 2019, FinCEN made a clumsy announcement of changed filing instructions for CTRs, only to postpone the effective date three months later, in January. Another change issued in October was corrected in November 2019.
Recorded on June 06, 2023
Bank Compliance Basics – an Overview of Deposit and Lending
Banking compliance touches several aspects of banking – ALL of them in fact! Whether you work on the deposit side or the loan side of the bank, you have many rules to follow. Do you ever wonder why?
The short answer is that banks are special.