When your bank receives a claim that an ACH charge to a customer’s account was unauthorized, you have to respond correctly and your customer expects swift results.
WednesdayApril 24, 2024
Common Compliance Violations, Enforcement Actions and Hot To
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.
Mistakes happen. Even strong compliance programs can have a slip-up, and you may find your bank has wrongfully disclosed the Annual Percentage Rate (on a loan) or the Annual Percentage Yield (for a deposit product).
Regulation E came back into the news in a big way in 2019 as the CFPB levied a $3.5 million civil money penalty and $12 million in restitution against an institution for incorrectly processing dispute claims.
Regulation E came back into the news in a big way in 2019 as the CFPB levied a $3.5 million civil money penalty and $12 million in restitution against an institution for incorrectly processing dispute claims.
Recorded on September 30, 2020
New Guidance on Customer Due Diligence Requirements
The conundrum, a branch wants to raffle off homemade pies to raise money for a charity near and dear to the heart of those bankers. But is this a raffle, a contest or a lottery?