Friday, April 18, 2014
To access specific issuances, click here to go to our Top Stories section, where you’ll find links to all the relevant documents.
PATRIOT OFFICER®PATRIOT OFFICER is endorsed by the American Bankers Association, NAFCU and many well-known associations across the nation. PATRIOT OFFICER will keep all the confidential data and secret SAR data safely inside your institutions, where they belong. To schedule a free demo or receive more information, please contact firstname.lastname@example.org.
Most Effective Way to Consolidate AML and Fraud
Prevention with Highest Efficiency
• Bureau releases completion guide for integrated disclosures
The Consumer Financial Protection Bureau has posted a new guide, TILA-RESPA Integrated Disclosures: Guide to the Loan Estimate and Closing Disclosure Forms, which is a compilation of instructions for completing the two new integrated RILA-RESPA disclosures that will be required beginning August 1, 2015. The agency also revealed a new Regulatory Implementation page, with links to separate "landing pages" for Dodd-Frank Act Title XIV (MRAPLA) rules, the TILA-RESPA Integrated Disclosure rule, and the Remittance Transfer rule. More in Top Stories.
April 23, 2014 (1 hour) - 12:30 ET
Consolidating FRaud detection and AML (FRAML) is not a one-size-fits-all endeavor. Learn about the three dimensions of consolidation, the four categories of increased effectiveness, shortcomings of siloed anti-fraud and AML, ways various size FIs have implemented consolidation, and best practices for embarking on a consolidation initiative.
• OFAC Zimbabwe designations and removals
OFAC has announced the designation of a Zimbabwean government official, an Angolan businessman, a Singaporean attorney, and a Zimbabwe-based entity pursuant to Executive Order (E.O.) 13469 for their roles in undermining Zimbabwe's democratic processes and institutions or facilitating public corruption through support to the Government of Zimbabwe, senior government officials, and/or Specially Designated Nationals (SDNs). As a result of Treasury's actions, any assets of the individuals or entity designated that are within U.S. jurisdiction must be frozen. Additionally, transactions by U.S. persons or with the United States involving these individuals and entity are generally prohibited. See the BOL OFAC Update Page for details.
The Smart Solution
AML RightSource provides an outsource solution for transaction monitoring. We offer not only the technology, but certified professionals to monitor your transactions and report back to you. Partnering with AML RightSource potentially allows you to reduce the cost of your BSA compliance department while saving time and resources.
• Prohibition order
The Federal Reserve Board has issued a Consent Order of Prohibition against an individual who was president and chairman of the board of directors of a Missouri bank holding company and the former chief financial officer and chairman of the board of directors of its subsidiary bank. He was involved in misusing TARP funds allocated to the holding company to purchase a luxury condominium, and is now prohibited from ownership interests, management of, or employment by, any financial institution. More in Top Stories.
National HMDA Benchmarks for Fair Lending
In today's data centric regulatory world, you need to understand what your loan data indicates about your institution's approach to fair lending. The full story cannot be told without benchmarking against the industry. How do your application rates compare? Are you higher or lower than the national averages?
Click here to get a free National HMDA Benchmark report.
• NCUA Financial Literacy Twitter chat
The NCUA will host a Financial Literacy Twitter chat on April 23, 2014, from 11 am to noon ET. Credit unions and consumers can follow the conversation on @TheNCUA and join using the #NCUAChat hashtag. Participants can also submit questions before the chat to email@example.com. More in Top Stories.
ECOA Valuation Rule: Sending PDFs to Borrowers
The ECOA Valuations Rule (effective Jan 18th) includes an E-Sign Act compliance requirement for appraisals delivered electronically. Download a free compliance report here. Use SureReceipts as a web-based solution to avoid risk - only 50¢ per compliant, documented report to your borrower.
• Proposed NCUA risk-based capital rule Q&A
The NCUA has posted a two-part, 20-minute video on its YouTube channel regarding the agency's proposed Risk-Based Capital Rule. The video contains a Q&A which provides an in-depth review of why the rule is needed and how credit unions would fare under both the current risk-based net worth system and the proposed risk-based capital rule. More in Top Stories.
Fair Lending Analysis and Using Automated Tools for Analysis FREE Webinar
Join ComplianceTech to learn about using automated solutions for fair lending analysis. We will discuss how you can improve the effectiveness and efficiencies of your fair lending analysis. We will look at Fair Lending Magic™ to demonstrate an easy graphical interface, extensive on-line help and a data quality assessment tool.
April 29, 2014 (1 hour) - 1:30 ET
• NCUA Board meeting agenda
The agenda for the April 24, 2014, meeting of the NCUA Board has been posted. More in Top Stories.
Combatting the Money Mule ProblemIn every financial institution in America, there are customers who unwittingly become money mules. Your frontline needs to be trained about, and reminded of, the red flags that could signal money mule activity so they can detect it and protect your customers – and your bottom line. Educating your customers about the scams and schemes is also vital. BOL Guru Jeff Patterson has created a set of products to help you fight back against money mules.
April 22, 2014
A Banker's Guide to Virtual Currency
April 24, 2014
BSA/AML Compliance: Writing the SAR Narrative
April 29, 2014
April 29, 2014
May 13, 2014
Overdraft Practices in Today's Regulatory Environment
May 14, 2014
Reg E Claims - Allocating Liability Correctly
|Support the vendors who support BOL!|
Through their advertising and sponsorships on BOL these companies offering banking
products and services help to make this site possible. When you’re looking for a supplier,
give your business to companies who support BankersOnline.com.
Find them now on our Sponsors Page.