Vendor Guru Q&A - Operations

Electronic Management of SAR Files

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

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?

Premium Content View All

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

Accuracy and Integrity Policy/Procedure Requirements

08/25/2019

Does my financial institution have to have policies and procedures regarding accuracy and integrity of furnished information provided to CRA’s?

Have lawsuits occurred because of incorrect disaster recovery decisions?

08/25/2019

If our vault floods and we don’t follow proper procedures could this create liability?

Notice requirements for closing an account

08/25/2019

How much notice do we have to give the owner of a personal account of our intent to close her account?

Benefit Acct. for Funereal Expense-Documentation

08/25/2019

I have a customer who wants to set up a benefit account for funereal expenses for a deceased daughter. I know they need to get a TIN but what else would I need for documentation?

Deceased Customer-Consumer Protection/Fraud

08/25/2019

What avenues of recovery are there for an issuing bank where their customer is killed abroad, and fraudulent transactions are made by the perpetrator after the killing and subsequent theft? The killing occurred 26 days ago, and the transactions occurred the day of the killing and the following day.To make matters worse, the card used was a MasterCard debit card, and the perpetrator somehow obtained access to the PIN.

Latest Operations - Identity Theft Topics

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