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.
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.
Your bank or credit union expects tellers and others who handle checks for the institution to do so accurately, efficiently, and carefully. You also expect those checks to be handled with minimal risk of losses.
Recorded on June 02, 2022
Flood 101 – Facts to Keep You Afloat in Deep Waters
Flood compliance is intimidating. So many rules, so many details, so many fines! Examiners always pay great attention to flood compliance, because more often than not, they find violations… and one problem can sink into several penalties.
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.
Everything old, is new again. In January 2020, the CFPB issued a policy statement on how it was interpreting and enforcing UDAAP. In March 2021 the new acting director of the CFPB announced a reversal of that position.
Recorded on April 13, 2022
Currency Transaction Reporting: Line-by-Line Updated for 20