Vendor Guru Q&A - Compliance

Latest Compliance - Technology Topics

IT Vendor Contracts

07/01/2003

Information Technology providers would like to be a law unto themselves - but the regulatory agencies don't want them to be. In a recent announcement, the FFIEC released two booklets.

FRB Settles Case With NAB Bank

06/01/2003

If you want to feel good about your institution, check out the written agreement between NAB Bank of Chicago, Illinois, the FRB of Chicago and the State of Illinois Office of Banks and Real Estate.

Terrorism As An Enterprise

12/01/2002

David Aufhauser, Treasury's General Council was the luncheon speaker at ABA's Money Laundering Enforcement Seminar.

How To Shop For Software

12/01/2002

Along with his observations on evolution of both organisms and criminals, van der Zee gave some useful advice on information technology tools. First, purchase only what you can use.

OFAC & Check Clearing Requirements

10/07/2002

These questions are regarding compliance with OFAC requirements: (a) Are banks required to check for payee of checks drawn on them and received by them for payment across the counter or through clearing? (b) Are banks required to check for the name of the drawer of checks sent by them for clearing? (c) In case of banks which provide cash letter service to their correspondents abroad, are they required to check for both drawer and payee? If required, how do banks manage this as automated checking of this information would not be possible in most cases.

Financial Education: Out Of The Mouth Of An FRB Governor

06/01/2002

Financial education is more important than ever. The FDIC was the first regulatory agency out of the chute with its "Money Smart" program.

Conducting an eBanking Audit

04/01/2002

Where's a good source for obtaining the basic knowledge needed for a novice to conduct an audit for the areas electronic banking and Internet banking?

Information Security: What do I need to know?

02/04/2002

What are the information security needs of a bank?Which laws/guidelines deal with information security needs of the bank?What are the steps involved in designing a security policy for a bank?

Read Any Good Books Lately?

02/01/2002

By Barbara E. Hurst, Editor

ADA: Curb Cuts on the WWW

09/01/2001

This issue is dedicated to compliance with ADA on the Web. Compliance Action gives special thanks to Andy Zavoina, our newest Advisor.

Broadcast a report on bad official checks

04/07/2024

If a bank has fraud on the banks official check account, who does the bank report that to? As we get notifications on other institutions fraud official checks we are unsure of how that information gets sent out.

Are Cash Advances Required

04/07/2024

Can a bank offering cash advance services through Mastercard choose to stop offering that service?

Revoking Provisional Credit That Isn't There

04/07/2024

According to Reg E, if I need to reverse provisional credit from a customer and they do not have the funds in the account in the amount of the reversal, can I proceed even though it will leave the account in the negative? The customer has been notified verbally of the reversal and I will send the reversal letter via mail, but they have made no attempt to deposit the money to cover this. Can I proceed, regardless of if the funds are available and still be in compliance?

Bank Completed Corporate Resolutions Risks

03/31/2024

What are the pro's and con's of New Accounts completing various Resolutions when opening business accounts? I was advised by legal, that if we use ione, it needs to be board approved and we better know how to complete them accurately. If they are this binding or legal of a document, is it best to not use them? Our system generated resolutions are complicated and we are not completing them consistently.

Responding to Exam

03/31/2024

Our bank received an MRA (Matter Requiring Attention) to establish a testing/audit program due to a vacancy in the internal audit position for some time. We've engaged an external audit firm to perform the audit function starting this year. This firm was already engaged prior to our examination. I've never assisted with a response to an MRA and am wondering what format and information should be provided. Can you please share any key components or advice with me on this topic?

Latest Compliance - Technology Topics

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