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Latest Operations - Identity Theft Topics

CFPB & FTC to Increase Collections Protections for Servicemembers

05/05/2019

How are the CFPB and FTC protecting military consumers from first-party debt collection?

CFPB Debt Collection Plan Doesn't Spare Banks

04/28/2019

On October 17, 2018, the CFPB announced that it plans to issue a Notice of Proposed Rulemaking (NPRM) for the Fair Debt Collection Practices Act (FDCPA) this spring; the NPRM will likely have a dramatic impact on collection practices for debt collectors. But, what affect, if any, will it have on first-party creditors? What other regulatory concerns related to debt collection should my bank be aware of?

How expensive is a BSA mistake?

04/21/2019

Can a BSA violation cost $528,000,000?

Misleading Collection Scripts Cost Financial Institution $28.5 Million

04/21/2019

In its $28.5 million settlement with Navy Federal Credit Union (NFCU), the Consumer Financial Protection Bureau (CFPB) stated that NFCU's collection letters contained material misrepresentations – or unfair or deceptive abusive acts or practices – that were likely to mislead consumers; how did NFCU's templates violate UDAAP?

Misleading Collection Scripts Cost Financial Institution $28.5 Million

04/14/2019

In its $28.5 million settlement with Navy Federal Credit Union (NFCU), the Consumer Financial Protection Bureau (CFPB) stated that NFCU's collection letters contained material misrepresentations – or unfair or deceptive abusive acts or practices – that were likely to mislead consumers; how did NFCU's templates violate UDAAP?

Reputation risk and BSA compliance failures

04/14/2019

What’s a “Deferred Prosecution Agreement” (DPA)?

Can you bank a “marijuana-related business”?

04/07/2019

What did the Department of Justice issue on January 4, 2018, that impacted banking marijuana-related businesses?

Standards for effective AML transaction testing

03/31/2019

What happens when a “BTT” is identified an a BSA exam?

314(a) and Beneficial Ownership rules

03/24/2019

Do 314(a) expectations apply to Beneficial Ownership rules?

Elder financial exploitation: a growing problem

02/24/2019

Why is elder financial exploitation growing so fast?

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OCC Reports Banks Fail to Manage AML Risks

by Teri Wesley

A How-To Guide for Fighting Fraud

Businesses and organizations are required to implement a written identity theft prevention program designed to detect the "red flags" of identity theft in their day-to-day operations, take steps to

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Most Popular Operations Content

Reg E Claim Denied-Prior Transfer

09/19/2021

Can we deny a p2p transfer dispute (such as CashApp) if the customer is claiming fraud however, the customer has sent money in the past to that same payee previously?

Private ATMS on a CTR?

09/19/2021

Do we record privately held ATM withdrawals on the transaction location for a CTR?

You can’t change Reg E because you want to.

09/19/2021

How can we shorten the time limits in regards to a customer reporting a problem in for Reg E? Our card agreement requires provisional credit in five business days, so we want the customer to be forced to notify us sooner.

Business debit card disputes

09/19/2021

Since Reg E does not apply to businesses, do we have to investigate a fraudulent business debit card transaction?

Investigating a non-Reg E claim

09/19/2021

If a customer places an order online, but never receives their merchandise, do we have to investigate?

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