ABA Risk and Compliance
 
 
 
 
May 1, 2020
Features
Conducting Pandemic Risk Assessments: What Banks Need to Know
Regulators will expect banks to be better prepared for the next crisis event, and they have offered guidance on how you should prepare.
Preventing Fraud in the Paycheck Protection Program
As banks process applications in round two of PPP funding, four key tips for banks to prevent fraud.
Mailinglists.com
Mailinglists.com
WHY YOUR BANK NEEDS A CMS
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Regulators have been emphasizing the importance of a strong and effective Compliance Management System. This whitepaper will walk you through the basics of a CMS while offering practical advice on how to ensure your CMS supports your strategic goals.Takeaways include:
·A primer on CMS requirements
·4 key elements to prioritize when designing or updating a CMS
·7 CMS features that should align with your bank’s goal and structure
·Examples of failed CMSs and compliance controls
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Risk and Compliance News
CFPB Announces Relief From TRID, Reg Z Waiting Periods
The Consumer Financial Protection Bureau has issued an interpretive rule clarifying that, due to the COVID-19 emergency, consumers have a greater ability to exercise their rights to modify or waive certain required waiting periods under the TILA-RESPA integrated disclosures and Regulation Z rescission rules.
CFPB Issues Guidance on Residential Mortgage Transfers
The Consumer Financial Protection bureau on Friday issued guidance for transferring mortgage servicing rights to a servicer or sub-servicer.
How to Write Content That Gets Quick Legal Approval in Times of Crisis
With proper documentation, solid process and a clear set of best practices, legal review can look less like a hurdle to cross and more like a valuable means to improving content you’re creating for your bank.
The CRA-Inspired COVID-19 Response
Compliance officers and CRA professionals can leverage the powerful resources in banks across the country to make an impact both now and throughout the extended recovery period from this national emergency.
Naylor Association Solutions
Naylor Association Solutions
CFPB Asks FCC to Facilitate COVID-19-Related Calls
The Consumer Financial Protection Bureau wrote to the Federal Communications Commission in support of a petition filed by ABA and six other financial trade groups seeking an expedited ruling from the FCC on the exempt status of banks’ COVID-19 related calls.
Fed to Suspend Six-Withdrawal Limit on Transfers from Savings Accounts
The Federal Reserve announced that it would provide relief from the six-per-month limit on transfers or withdrawals from savings accounts under Regulation D, effective immediately.
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