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Compliance Action, Volume 26, Number 12

April 28, 2022

OCC SAR Exemption Rule (2 Action Steps)

By Nancy Castiglione, CRCM

The OCC has issued a final amendment to its Bank Secrecy Act: Suspicious Activity Reporting regulations that allows the regulator to exempt some banks from SAR reporting.

Computer Incident Notification: Regulator Contact Information (2 Action Steps)

By Nancy Castiglione, CRCM

The federal banking regulators have issued notification protocols for their respective supervised institutions with regard to the Computer-Security Incident Notification Rule that went into effect April 1, with a mandatory compliance date of May 1.

Action Training
Regulation Z Training: Too Big to Swallow

By Nancy Castiglione, CRCM

In the FDIC’s March 2022 Consumer Compliance Supervisory Highlights, the FDIC reported that Regulation Z violations remain the most commonly cited regulation in consumer compliance exams of state nonmember banks.

How Not to Repossess a Vehicle According to the CFPB (2 Action Steps)

By Nancy Castiglione, CRCM

A recent CFPB bulletin highlights the number of UDAPs associated with vehicle repossessions in the debt collection process. There are some practices that may be considered unfair or deceptive and that should be avoided when repossessing a vehicle.

Compliance Notes

Compliance Calendar

FTC Influence Over Bank Regulation

By Nancy Castiglione, CRCM

While financial institutions aren't directly subject to the regulations and enforcement authority of the FTC, the agencies policies do have a strong influence on the banking industry.

Exam Modernization (1 Action Step)

By Nancy Castiglione, CRCM

Through the FFIEC, the federal financial regulators have completed their most recent examination modernization project and published a final set enhancements to the examination process.

Compliance Online
FTC Advertising Information

Nancy Castiglione, CRCM
Editor Emeritus:
Lucy H. Griffin, Esq.
Board of Advisors:
John S. Byrne, Esq.
Cliff E. Cook
David Dickinson
Julie A. Gliha, MBA
Carl G. Pry
Susan Rich
Meg Sczyrba
Robert G. Rowe, III, Esq.
Andy Zavoina

Compliance Action

Bankers' Hotline

Compliance Action