The 2020 AML Act encourages financial institutions to explore innovative solutions for suspicious activity monitoring. Many institutions either are already or are considering automated solutions to aid in this process.
During this program we will cover many teller regulatory and compliance issues. We will look at your signature contract, state and federal rules regarding the handling of checks. You will review some fundamentals but move
Regulation E came back into the news in a big way in 2019 as the CFPB levied a $3.5 million civil money penalty and $12 million in restitution against an institution for incorrectly processing dispute claims. .
Regulation E came back into the news in a big way in 2019 as the CFPB levied a $3.5 million civil money penalty and $12 million in restitution against an institution for incorrectly processing dispute claims.
Does your bank have a new compliance officer? Does it have or need an enhanced compliance program? If you are starting or restarting a compliance program it takes a lot of elbow grease and you should begin with the fundamentals.
wants their money “back” from the bank? The bank didn’t take their money and can’t give it “back.” The bank executed the transfer as the customer requested. Yet the bank is expected to replace that money under many circumstances.
Who banks on smart phones? Your bank’s customers. Who uses P2P payments with vendor apps like Zelle and CashApp? Your bank’s customers. Who is paying more and more and more claims from these transactions? Your bank.