ABA Risk and Compliance
 
 
 
 
March 5, 2021
Features
Climate Risk: Greenhouse Gas Disclosures Could Take Years
Climate risk disclosures appear to be on the horizon, but full compliance could take time.
Amid Rising Uncertainty, a Path Forward
A look at ABA’s government relations agenda for 2021.
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
CFPB Extends Mandatory Compliance Date for QM Rule; GSE Patch Remains in Effect
As expected, the Consumer Financial Protection Bureau has proposed delaying the mandatory compliance date of the General Qualified Mortgage final rule from July 1, 2021, to Oct. 1, 2022.
Brainard: Banks’ COVID-19 Resilience Shows Importance of Strong Capital, Liquidity Buffers
In remarks at a virtual industry event, Fed Governor Lael Brainard commented on the strong performance of the banking sector during the COVID-19 pandemic, emphasizing that strong capital and liquidity positions will continue to be important as banks continue to face a high degree of uncertainty.
Agencies Update BSA/AML Examination Manual
The Federal Financial Institutions Examination Council has released updates to its Bank Secrecy Act/anti-money laundering examination manual.
Capturing These Three Data Types Can Transform Your Fraud Monitoring
Viewing financial fraud through the eyes of bad actors is the key to stopping it.
Social Media Compliance Lessons From COVID-19
Fast-paced digital transformation has meant increased compliance concerns.
Fusion Risk Management, Inc.
A10 Networks, Inc
FinCEN Issues Advisory on Economic Impact Payment Fraud
The Financial Crimes Enforcement Network has issued an advisory alerting banks to economic impact payment fraud. The advisory describes EIP fraud, associated red flags and how to report suspicious activity.
Quarles Highlights Role of Stress Tests in Pandemic Response
The Federal Reserve’s efforts to improve the efficiency and effectiveness of stress tests have proven critical in helping the agency and the financial industry respond to COVID-19, Fed Vice Chairman for Supervision Randal Quarles said.
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