Compliance “Quick Bite”: Recent Enforcement...

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…

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Compliance “Quick Bite”: Flood Q&A’s...

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…

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Compliance “Quick Bite” on BSA...

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…

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Compliance “Quick Bite” on Managing...

With ever increasing focus from the regulators on how banks and credit unions are managing their various systems in place for detecting suspicious activity whether it’s within an anti-money laundering context, a sanctions screening context, or even anti-fraud…

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Compliance “Quick Bite” on the...

Flood violations can sneak up on financial institutions. Underlying risks are often not readily apparent until a triggering event occurs that makes everyone pay attention, like a change in flood maps or regulation or in how existing requirements…

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Compliance “Quick Bite” on CMS...

An effective Compliance Management System, or CMS, is integral to the success of any financial institution’s compliance program.  As the financial landscape is ever-changing, it’s important to keep in mind that your CMS should also be ever-evolving.  In…

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FinCEN Issues Notice of Proposed...

By: Matthew Hovis, CAMS, CFE, CPP, Director of BSA/AML Services On December 7, 2021, FinCEN issued a Notice of Proposed Rulemaking (“NPRM”), for the purpose of establishing beneficial ownership reporting rules – in accordance with the Corporate Transparency…

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FinCEN AML/CFT National Priorities: Insights...

By: Matthew Hovis, CAMS, CFE, CPP, Director of BSA/AML Services On June 30, 2021, FinCEN published their first official national priorities document, “Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) National Priorities”, which is one of many…

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Federal Agencies Update Regulatory Agendas

By: Edward R. Milhorn, Compliance Consulting Director Earlier this month, federal agencies announced updates to their rulemaking agendas. Of note, the Consumer Financial Protection Bureau’s (“CFPB”) agenda stated that the agency will prioritize the issuance of a final…

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BP/SCS Announces Upgraded Work-Papers Solution...

By: David Etter, Managing Director Bennington Partners/Sheshunoff Consulting + Solutions We are very pleased to announce that Bennington Partners/Sheshunoff Consulting + Solutions (“BP/SCS”) will be upgrading our integrated work-papers solution in July of 2021. This move to a…

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