Latest Compliance - Operations Topics

The new banking law contains several provisions related to customer privacy. First, the act requires financial institutions to have a privacy policy.

We've said it here before, but now the American Banker's Association's incoming president is saying it: privacy is our next big issue.

by Dana Turner

This seems to be the season for appointments. Louise Roseman has been appointed Director of the Division of Reserve Bank Operations and Payment Systems, effective June 13, 1999.

Key Elements

FDIC has issued examination procedures that contain detailed guides to the examination and audit process.

Question: We have a policy of providing overdraft protection but have done so on an informal basis. Now we are considering whether to use a formal agreement with customers.

Many of our financial institutions issue letters of credit.

At ABA's 1997 National Graduate School of Compliance Management, a panel of regulators from the FDIC, FRB, and OCC answered students' questions.

CRA

A panel of regulators at the Maryland Bankers Association's Compliance Conference discussed how their agencies approach the compliance examination using risk and gave valuable advice on how banks s