Skip to content



  • Privacy's anniversary date is coming up. Be sure your annual notices go out on time.
  • And while noting the privacy anniversary, schedule privacy training. This would also be a good time to brush up on CIP.
  • As a customer service, consider including identity theft information in your privacy mailing.
  • Next, review your information security process and how information from consumer reports is stored and disposed of. The rule takes effect soon.


  • If you are in the Tenth or Twelfth Federal Reserve District, the new check processing centers take effect on June 18. Be sure to check the routing numbers that are now "local."
  • Review the year so far and plan ahead. Update your training calendar and audit schedule to get in what must be done before the end of the year.
  • Work with your IT staff to place website links to important consumer information such as the identity theft information at the FTC.
  • Plan some time for personal R&R. It has been a challenging year.


  • Consumer report information disposal rules take effect on the 1st. Check your information security procedures.
  • This is often a slow month. Use it to catch up. Also start pulling together material for your budget. Be sure to include funds for your own training.
  • If you use credit bureau reports for pre-screening, check your notices and procedures to be ready for the new rules which take effect on August 1, 2005.


  • HMDA data will be released some time this fall. Get ready. We already know what groups may be looking at. Do your own analysis first.

Copyright © 2005 Compliance Action. Originally appeared in Compliance Action, Vol. 10, No. 6, 5/05

First published on 05/01/2005

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics