As the final rule was finally published in late March, 1071 is front of mind for financial institutions. In this Compliance “Quick Bite”, Sheshunoff Risk Management‘s National Compliance Services Director, Rhonda Coggins, CRCM, reviews how your institution can…

Several weeks ago, FinCEN penalized a trust company known as Kingdom Trust to the tune of $1.5 million for violations of the Bank Secrecy Act, specifically in regard to their deficiencies in identifying and reporting suspicious transactions. Even…

While compliance in advertising is not a new concept, it is critical that your financial institution integrates the new FDIC rule and CFPB exam manual updates into your materials and process. In this Compliance “Quick Bite”, Rhonda Coggins,…

In this “Quick Bite”, Edward Milhorn, Compliance Consulting Director, provides an overview of our Compliance Consulting Services and discusses the many ways we work with institutions, just like yours. No matter what your needs are, our Compliance Consulting…

In this “Quick Bite”, Wilhelmina Wachter, CFE, CRCM, Managing Director – Compliance Services, reviews the regulatory requirements under both Reg B and the Fair Credit Reporting Act as well as some of the best practice tips for ensuring…

In this “Quick Bite”, Rhonda Coggins, CRCM, National Compliance Services Director, focuses on UDAAP and our current environment and includes a refresher of long-standing principles and a recap of current news.  

In this “Quick Bite”, Wilhelmina Wachter, CFE, CRCM, Managing Director – Compliance Services reviews the E-Sign Act and shares challenges and solutions as well as best practices on remaining compliant.  

At the end of July 2022, the Consumer Financial Protection Bureau issued a consent order against U.S. Bank National Association. The Bureau summarized their initial observations that the Bank, in order to increase sales of certain consumer financial…

The Flood Disaster Protection Act represents one area of compliance that can appear straightforward in some regards, but can also be a cumbersome area for institutions to manage, especially when dealing with complex or unique situations. At the…

FinCEN’s recently released statement on BSA Due Diligence for Independent ATM Owners and Operators make it abundantly clear that their primary concern is knowing the source of cash. While the 2021 exam manual has a similar section, “Risk…