ABA Risk and Compliance
 
 
 
 
October 2, 2020
Features
Four Ways to Ease the Pain of Regulated Customer Communications
Streamlining the process of managing disclosures will make it easier to stay compliant and reduce costs and timelines significantly, all while improving customer experience.
How COVID-19 Is Accelerating the Demand for Efficiency and Automation in Risk Management
The siloed and slow, often manual, processes of the past are giving way to new efficiencies of automation and cloud-based solutions.
Asurity Technologies
Western Union Business 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
Treasury Issues Ransomware Advisories as Part of Cybersecurity Awareness Month
The Treasury Department issued a pair of advisories as part of Cybersecurity Awareness Month, to help combat ransomware as attacks increase.
Fed Proposes Conforming Changes to Capital Plan Rule
The Federal Reserve issued a proposal to make changes to its capital plan rule that applies to large bank holding companies and U.S. intermediate holding companies of foreign banking organizations.
ABA, Advocacy Groups Address Ongoing Dispute Over US-EU Data Transfers
ABA joined a broad coalition of advocacy organizations representing a range of industries in a letter to the Departments of Justice, Commerce and State and the Office of the Director of National Intelligence yesterday requesting that they convey to European regulators that "U.S. companies cannot be expected to explain U.S. government surveillance practices as they defend their use of [standard contractual clauses] for commercial [data transfers]."
For Community Banks, COVID-19 Brings Existential Concerns to Fore
Business conditions were most often called the single biggest challenge facing community banks, according to an annual survey released by the Conference of State Bank Supervisors.
Using Technology to Improve Health and Safety in the Branch
Banks will win clients during and following the pandemic by providing in-person experiences that combine smart health protections, engaging personal interactions and useful technology enhancements.
Biz2Credit, Inc.
Oracle Financial Services Global Business Unit
Agencies Issue Final Rules on Appraisals, LCR Relief
The federal banking agencies have finalized two rules intended to provide relief for financial institutions as a result of actions taken to aid in the coronavirus response.
FinCEN’s Blanco Urges Banks: Be Specific When Filing COVID-19 Related SARs
Banks filed more than 64,000 Suspicious Activity Reports referencing COVID-19 and related stimulus programs—about 71 percent of all coronavirus-related SAR filings, according to Financial Crimes Enforcement Network Director Ken Blanco.
SEC Issues Proposal to Increase Transparency for Traders of Government Securities
The Securities Exchange Commission has issued a proposal to enhance the operational transparency, system integrity and regulatory oversight for alternative trading systems that trade government securities as well as repurchase and reverse repurchase agreements on government securities.
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.
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