Compliance Briefing for Monday, April 27, 2015

To access specific issuances, go to our Top Stories section, where you'll find links to all the relevant documents.
Risk Scoring — The Essential Element of BSA/AML Compliance

PATRIOT OFFICER automatically calculates risk scores for each customer to identify higher-risk customers and monitors them more closely as the regulations mandate. The solution automatically detects check fraud, check kiting, deposit fraud, ACH fraud, wire fraud, Internet banking fraud, credit/debit card fraud, ATM fraud, employee fraud, and financial fraud to prevent losses. PATRIOT OFFICER is the only BSA/AML/FRAUD solution endorsed by American Bankers Association.
— GlobalVision Systems, Inc.

FDIC enforcement actions released
A list of twenty-seven orders and two notices of administrative enforcement actions taken against banks and individuals in March 2015 has been released by the FDIC. The orders included three consent orders, one temporary cease and desist order, six removal and prohibition orders, 11 Section 19 orders, and two civil money penalties. A combined $545,000 civil money penalty (CMP) was issued against four institution-affiliated parties of a failed Colorado bank and a $127.59 CMP was issued against a Wisconsin insured state savings association for late payment of assessments.

Human Trafficking Information Session & Software Demonstration
April 29, 2015 (1 hour) — 12:30 ET
In September 2014, FinCEN issued guidance relating to the reporting of Human Trafficking and Human Smuggling. The agency's guidance included a list of red flags that might point to transactions involving these activities. Join Verafin to learn about the red flags you need to consider incorporating into your compliance monitoring and how Verafin can help.
Click here to register.
— Verafin

HUD changes Distressed Asset Stabilization Program
HUD has announced significant changes to its Distressed Asset Stabilization Program (DASP). Loan servicers will now be required to delay foreclosure for a year and to evaluate all borrowers for the Home Affordable Modification Program (HAMP) or a similar loss mitigation program. Additional improvements to the Neighborhood Stabilization Outcome (NSO) sales portion of DASP are aimed at increasing non-profit participation. They include giving non-profits a first look at vacant properties, allowing purchasers to re-sell notes to non-profits, and offering a non-profit only pool.

Managing Your Fair Lending Compliance Risk Just Got Easier
Fair Lending RiskCheck™ is a compliance officer's best friend. With this online risk assessment you can conduct a Fair Lending Risk Assessment more efficiently than ever before. . .even if you know little about fair lending compliance. RiskCheck comes with expert guidance and free support. Claim your free info kit today!
— TRUPOINT Partners

Ten minutes of your time, please
In connection with this week's BOL Conferences Lending Compliance Triage gathering – two solid days of immersion in the details of the TILA-RESPA Integrated Disclosures (TRID) Rule – we want to get a sense of the larger BOL Community's state of TRID Readiness. We've designed an anonymous survey that should take only five or ten minutes of your time. Please help us out, and

Collateral Underwriter: Firsthand Reports from Experts Will Save You Time
We've already seen thousands of appraisals pass through the system, so save time, hassles, and money with these tips from chief appraisers, compliance experts, and workflow gurus.
— Mercury Network

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