Nobody wants compliance mistakes but when they are tolerable and in moderation, you grow, you learn from them and that leads to improvement and survival in a tough world of compliance and banking.
wants their money “back” from the bank? The bank didn’t take their money and can’t give it “back.” The bank executed the transfer as the customer requested. Yet the bank is expected to replace that money under many circumstances.
Who banks on smart phones? Your bank’s customers. Who uses P2P payments with vendor apps like Zelle and CashApp? Your bank’s customers. Who is paying more and more and more claims from these transactions? Your bank.
Sweeps, contests and lotteries are really part of advertising, right? Yes – these are typically used to promote various bank products and services but they are a special subset of the broader “advertising” requirements.
That is what the CFPB fined nine mortgage lenders in in less than a four-month span in 2020 for false advertising. If one of your hats means you produce, audit, review, or answer to the advertisements your bank uses, this webinar is for
In March 2022 the CFPB announced it would be targeting unfair discrimination in consumer finance. You have likely heard and may have even said, “there is no fair lending equivalent for deposits.” Well – now there is.
Is fair lending an important issue? When President Biden took office, he emphasized fair and equal treatment and that included many fields, mortgage lending included. The OCC’s Acting Comptroller Michael Hsu has echoed these same sentiments.
Recorded on May 09, 2022
Opening Deposit Accounts Online—CIP, CDD, Compliance and Ris