Compliance Action, Volume 26, Number 6

OCC
Ready...Set...LIBOR Gone (3 Action Steps)

By Nancy Castiglione, CRCM

Since publication of certain LIBOR rate settings will be discontinued by the end of 2021, institutions should be well beyond risk assessment and planning stages for the LIBOR rate transition.

Policies & Procedures
Diversity and Inclusion Policies for Fair Lending and CRA Too (4 Action Steps)

By Nancy Castiglione, CRCM

Whether you have an existing Diversity and Inclusion Policy (D&I) in place or your institution is considering creating one, compliance should play a role in developing it – particulary in connection with fair lending and CRA areas of performance and risk.

Action Training
Spotlight on Redlining

By Nancy Castiglione, CRCM

With a major new DOJ initiative putting the spotlight on Redlining, now would be a good time to conduct new or refresher training on the risks and dangers of redlining.

Compliance Calendar

Editorial
Early Retirement?

By Nancy Castiglione, CRCM

During these unprecedented times, the workforce has changed across all sectors. One notable movement has been early retirements.

Compliance Notes

• FinCEN Reissues Geographic Targeting Orders
• NCUA Updates CAMELS Rating System
• NCUA Expands List of Permissible Activities for Credit Union Service Organizations
• Turkey Added to FATF’s List of Jurisdictions with AML Concerns
• Fed Proposes to Extend Information Collection for Flood Insurance Rule

Fintech
Evaluating Fintech Companies: A Guide for Community Banks (3 Action Steps)

By Nancy Castiglione, CRCM

The regulators have issued a guide for community banks to help them evaluate fintech companies with whom they are considering doing business.

Compliance Online
Ransomware