Compliance Action, Volume 24, Number 8
At the top of your New Year to-do list is the annual risk assessment. Just like many resolutions you make in other areas, your annual compliance risk assessment should get a fresh, thorough review and analysis every year.
An important element in the development and annual update of the compliance risk assessment is internal controls which go a long way in mitigating inherent risk.
Thresholds and Exemption Levels (Chart)
New thresholds and exemption levels for 2020 have been released by the CFPB.
Additional guidance has been issued for financial institutions that want to service hemp-related businesses.
Regulators have issued a statement on the use of alternative data in credit underwriting to expand credit access to underbanked or otherwise disadvantaged consumers.
In the Editor's Opinion
Modernization/Change of Community Reinvestment Act Regulations
The FDIC and OCC are undertaking what they are calling a long overdue modernization effort with proposed changes to the CRA.
- New Deadline for New URLA
- Another New Deadline for FBAR Filing
- CRA Threshholds for 2020
- OCC Announces Increased Civil Money Penalty Amounts
Compliance Q & A
- SCRA Foreclosure Protection on Non-Principal Dwellings
- Escrow Closing Notice for Small Servicers
- Savings and MMA Transaction Limits
- Flood Insurance on Commercial Property Not in Flood Zone
What You Should Know About Gift Card Scams
- Nancy Castiglione, CRCM
- Editor Emeritus:
- Lucy H. Griffin, Esq.
- Board of Advisors:
- John S. Byrne, Esq.
Cliff E. Cook
Julie A. Gliha, MBA
Carl G. Pry
Robert G. Rowe, III, Esq.