Compliance Action, Volume 25, Number 4
A joint statement issued by the regulatory agencies regarding the mandatory issuance of cease and desist orders for BSA/AML violations makes it clear that the agencies will take action if an institution's BSA/AML compliance program falls short.
- FedNow Service Approved by FRB
- Due Diligence for PEPs
- FDIC’s Criminal Offenses Statement of Policy Regulation
- HMDA FIG Published
The OCC's Handbook on Unfair or Deceptive Acts or Practices/Unfair, Deceptive, or Abusive Acts or Practices, published in June, describes the regulator's supervisory approach and contains exam procedures for supervised institutions and other useful reference information.
Under the new OCC Community Reinvestment Act Regulation that goes into effective October 1, 2020, the methods, options, and limitations on how a national bank may define its assessment area are significantly changed.
In the Editor's Opinion
Bankers as First Responders
There are lots of unsung heroes during the COVID crisis. The people and institutions that are working to keep the economy and our individual support systems functioning are among those who deserve our recognition and appreciation.
The Paycheck to Paycheck Loan
In case you missed it, there has been some recently rescinded guidance and some recently issued guidance related to small-dollar, aka payday, loans.
Free FDIC Insurance Seminars
- 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.