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

Credit Union Ex-AIF Forgery

12/15/2019

Customer of credit union removed his attorney-in-fact from having this designation on his account. Three years later he went to the credit union and verbally asked to make sure that the AIF was "off" his accounts in every way. Two years later the ex-AIF presented a customer service request document adding herself as beneficiary. If this is a forgery as claimed, it appears to bear a good one of customer's signature. Is credit union liable for now having paid her as beneficiary?

Latest Operations - Identity Theft Topics

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