In managing vendors for your institution, what are your first, second and third lines of defense? You can delegate authority, but you cannot delegate responsibility. Responsibility and potential liability rest on the financial institution.
NACHA approved Same-Day ACH to be rolled out over the course of the next three years, with phase one going into effect in September 2016, in response to the need for faster electronic payments and settlement.
This webinar provides wealth of information on conducting internal fraud investigations for the community financial institution This high-powered program will identify the situations that make an internal embezzlement probable.
Paraphrased, here is what one circuit court said, "consumers are protected from a company’s deception, even if they never actually read its disclosures." The world of compliance is different when you consider UDAAP. Period.