ABA Risk and Compliance
 
 
 
 
June 11, 2021
Features
Understanding the Biden Administration’s Cybersecurity Executive Order
New standards for vendors may ease banks’ due diligence responsibilities.
Podcast: The Fintech Policy Lightning Round
On this episode of the ABA Banking Journal Podcast, Rob Morgan and Matthew Daigler join to provide quick-fire updates on a variety of fintech-related policy issues.
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
Advertisement
 
Risk and Compliance News
Moynihan: Time to Revisit SLR in Light of Pandemic
Bank of America Chairman and CEO Brian Moynihan told lawmakers that "it’s important to look at [the Supplemental Leverage Ratio] again and make sure it’s calibrated correctly," in light of lessons learned from the COVID-19 pandemic.
Yellen: Funding Needed for FinCEN’s Beneficial Ownership Database, CDFIs
Ahead of the release of the president’s budget, Treasury Secretary Janet Yellen told House appropriators that funding is needed for the Financial Crimes Enforcement Network to build its beneficial ownership database—something ABA has long advocated for.
Banks’ Transition Away from Libor Just Became Easier
The variety of forward-looking term rates now available means that banks will have choices to offer when transitioning from Libor.
Abrigo
A10 Networks, Inc
ABA Joins Coalition Amicus Brief in Support of Rehearing FDCPA Case
ABA and a coalition of financial trade groups filed an amicus brief urging the 11th U.S. Circuit Court of Appeals to rehear Hunstein v. Preferred Collection. The case ruled that using a vendor to generate a letter to a debtor violated the Fair Debt Collection Practices Act’s prohibition on disclosing a consumer’s debt to a third party.
EEOC Updates Vaccination Guidance
The Equal Employment Opportunity Commission has updated its technical assistance question and answer document to confirm that a bank or other employer may offer an incentive to employees to receive a COVID-19 vaccination. If the employer is administering the vaccine, the incentive may not be "so substantial as to be coercive."
Crisis Response Management: Decoded
Experian Partner Solutions®
In an age of infinite information where a company’s reputation can be destroyed in as little as 140 characters, it may seem difficult to bounce back from a crisis, but it is possible. Businesses that are prepared for natural disasters or other incidents can protect themselves from serious financial losses, and keep their reputation and customer loyalty intact, if they have the right tools.
Download this e-book to explore
Advertisement
 
Training

June 22 - 24
Virtual Conference: Regulatory Compliance Conference

July 8
Webinar: Best Practices for Monitoring Servicing Performance

August 2 - 13
Virtual School: Risk Management School – Foundational

August 2 - September 3
Facilitated Training: Managing the Bank's Investment Portfolio

August 17 - 27
Virtual School: Risk Management School – Advanced

August 25
Webinar: Compliance Management for First-Line Operations

October 18-22
School: Compliance School – Foundational
Emory Conference Center Hotel, Atlanta

October 18-22
School: Compliance School – Advanced
Emory Conference Center Hotel, Atlanta