ABA Risk and Compliance
 
 
 
 
July 24, 2020
Strategies for responding to COVID-19 regulatory pressures
Abrigo
In this complimentary whitepaper, Abrigo experts lay out five simple, proactive strategies that lenders can implement – even during a forbearance period — to ensure financial institutions survive the economic impact of COVID-19 and improve financial health.
Download Free Whitepaper
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Features
A New Way Forward with Risk Operation Centers
The COVID-19 crisis has highlighted that our current risk models and third-party risk practices are no longer adequate. A proactive and permanent risk operations commitment can result in competitive advantages of business resilience, reliable regulatory compliance and brand enhancement.
Podcast: How Banks Can Manage Risks of Coronavirus Aerosolization
With the World Health Organization’s recent recognition of evidence that the novel coronavirus can be aerosolized in particles that remain in the air for long periods over long distances, how do banks need to adjust their COVID-19 risk mitigation procedures?
PWCampbell
Naylor Association Solutions
WHY YOUR BANK NEEDS A CMS
Ncontracts
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
CLICK HERE TO DOWNLOAD AND LEARN ABOUT OUR CMS SOFTWARE
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Risk and Compliance News
ABA Calls for Inclusion of E-Sign Modernization Bill in Coronavirus Relief Package
As the Senate prepares to unveil its latest coronavirus relief bill, the ABA and several financial trades urged lawmakers to include S. 4159, the E-Sign Modernization Act, in the package.
OCC: Banks May Offer Crypto Asset Custody Services
In an interpretive letter, the OCC has said that national banks and federal savings associations may provide cryptocurrency custody services for their customers.
ABA Publishes Guide to Help Banks Implement, Enforce Mask Policies
With the ABA recently encouraging banks to adopt and publicly announce a policy requiring anyone entering a bank branch to wear a mask or face covering, the association has published a list of suggestions for putting such policies successfully in place.
Can My Bank Require Opt-In to Overdraft as a Condition of Receiving a Debit Card?
...and other answers to your compliance questions in the July/August 2020 ABA Regulatory Policy and Compliance Inbox.
Biz2Credit, Inc.
OCC Issues Long-Awaited ‘True Lender’ Proposal
In a long-awaited move, the OCC has issued a proposal establishing a "clear test" to determine when a bank making a loan is considered the "true lender" in the context of a partnership between a bank and a third party.
House Votes to Include ABA-Backed AML Provision in Defense Bill
With a bipartisan majority of 336 to 71, the House today voted to add ABA-advocated anti-money laundering provisions to the 2021 National Defense Authorization Act.
CFPB Announces 2021 Reg Z Dollar Thresholds
The Consumer Financial Protection Bureau announced 2021 changes in dollar thresholds for several Regulation Z provisions governed by the CARD Act, the Home Ownership and Equity Protection Act and the Dodd-Frank Act.
Data Breach Response Ready
Experian Partner Solutions®
Your free go-to hub to help your business take those crucial first steps in preparing a customer first notification response. Data breach incidents unfortunately happen daily, across all businesses, all over the world. We created this hub especially for businesses to feel confident, secure, and prepared for a data breach. Whether your business is small, medium or large, we will partner to help you take proactive steps in all stages of a breach.
Be Response Ready®
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