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How to add predictive analytics into your risk program. Risk reports are often limited to historical insights and issues and do not provide guidance and insights into the future of the organization. Adding predictive analytics can allow your organization to detect emerging risks and create mitigation plans. This can be achieved by combining internal and external key risk indicators (KRIs) and key performance indicators (KPIs) with regulatory intelligence. This ensures that risk reports can detect more issues and highlight areas of concern. Click here to learn more.

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Notice for users of OFAC’s Sanction List data files

OFAC has posted an important technical notice for users of its Sanctions List data files. It involves the methods used to access those files. We suggest you share this information with anyone in your institution or service provider whose responsibilities include access the OFAC data files.


Members of new payment systems fraud group named

The Federal Reserve Board has announced the 22 members of its Fraud Definitions Work Group, part of an initiative to advance the Federal Reserve's strategy for improving the U.S. payment system. The group members will work collaboratively with Federal Reserve leaders to formulate recommendations for improving the quality and consistency of ACH, wire, and check fraud data.


2019 FFIEC CRA software and filing info available

The FFIEC announced the availability of new 2019 CRA data entry software, CRA file edits and file specifications.



FCC proposes Truth in Caller ID amendments

The Federal Communications Commission has published at 84 FR 7367 in today's Federal Register a proposal with modifications to the Commission's current Truth in Caller ID rules that largely track the language of recent statutory amendments. The document also invites comment on what other changes to the Truth in Caller ID rules the Commission can make to better prevent inaccurate or misleading caller ID information from harming consumers. Comments are due by April 3, 2019.


Waters outlines agenda for House Financial Services Committee

The U.S. House Committee on Financial Services has released the text of a speech by its chairwoman, Representative Maxine Waters, at the Center for American Progress, during which she outlined her agenda for the Committee. Among other things, Waters noted that the evolution of fintech, housing reform and encouraging diversity and inclusion in financial services would be concerns for the committee. She also focused on the futures of Fannie Mae and Freddie Mac, and long-term reauthorization and reform of the National Flood Insurance Program.


Fed app teaches U.S. currency security features

Money Adventure, an interactive smartphone and tablet application designed to teach elementary school students about the security and design features of Federal Reserve notes, has been launched by the Federal Reserve Board. The application complements other material available through the Board's Currency Education Program. Money Adventure is available for download on iPhones and iPads. An Android version is scheduled for launch later in the year.


A new look at

The NCUA has unveiled redesigned versions of its and websites. NCUA Board Chairman J. Mark McWatters said "Both of these websites are now more intuitive and accessible, and they will improve our ability to communicate with the broader credit union community and the public." Both of the sites now allow users access on a variety of platforms, including smartphones, tablets, laptops and desktops.


OCC releases workshops schedule

The OCC has announced its 2019 schedule of workshops for board directors and bank management of national community banks and federal savings associations. The OCC offers five workshops at a cost of $99 each:

  • Building Blocks: Keys to Success for Directors and Senior Management
  • Risk Governance: Improving Director Effectiveness
  • Compliance Risk: What Directors Need to Know
  • Credit Risk: Directors Can Make a Difference
  • Operational Risk: Navigating Rapid Changes

The OCC offers the workshops nationwide to directors of national community banks and federal savings associations. Senior management and other key executives of institutions supervised by the OCC are also eligible to attend the Building Blocks workshop.

Workshops are limited to 35 participants. Attendees will receive course materials, supervisory publications, and lunch.


FCC to create database of reassigned numbers

The Federal Communications Commission voted yesterday to create a reassigned numbers database to help reduce unwanted calls to consumers. Callers using the database will be able to find out if telephone numbers assigned to consumers who want their calls have been disconnected and made eligible for reassignment. Any such numbers can then be purged from their call lists, thereby decreasing the number of unwanted calls to consumers. To further encourage callers to use the database, the Commission is providing callers a safe harbor from liability for any calls to reassigned numbers caused by database error.


Fed updates US model package

The Federal Reserve Board has announced an update and overview of the FRB/US model package and dataset. The FRB/US model was launched almost 25 years ago as a large macroeconomic model of the US economy. References and documentation about the FRB/US model and some of its history can be found on the public website. While the model has been modestly updated and changed over the years, the FEDS Note summarizes a more comprehensive set of modifications introduced with the November 2018 public release of the model and provides some motivation for why they were made.


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