Compliance Action, Volume 24, Number 8

Risk Assessment
Give Your Annual Compliance Risk Assessment the Respect it Deserves

By Nancy Castiglione, CRCM

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.

Risk
Internal Controls That Really Control

By Nancy Castiglione, CRCM

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.

Action Training
Thresholds and Exemption Levels (Chart)

By Nancy Castiglione, CRCM

New thresholds and exemption levels for 2020 have been released by the CFPB.

Hemp
Hemp-Related Business Guidance Issued

By Nancy Castiglione, CRCM

Additional guidance has been issued for financial institutions that want to service hemp-related businesses.

Underwriting
Interagency Statement on Alternative Data in Credit Underwriting

By Nancy Castiglione, CRCM

Regulators have issued a statement on the use of alternative data in credit underwriting to expand credit access to underbanked or otherwise disadvantaged consumers.

Compliance Calendar

In the Editor's Opinion
Modernization/Change of Community Reinvestment Act Regulations

By Nancy Castiglione, CRCM

The FDIC and OCC are undertaking what they are calling a long overdue modernization effort with proposed changes to the CRA.

Compliance Notes

• 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

Compliance Online
What You Should Know About Gift Card Scams