ABA Risk and Compliance
 
 
 
 
January 7, 2022
Features
Top Bank Risks for 2022
Five key factors for risk managers and C-suites in the year ahead.
Overlapping Social and Climate Issues Shape Banks’ ESG Efforts
The often-intertwined issues of social equity and environmental considerations are among the deepest and most challenging ESG issues that bankers currently face.
Asurity Technologies
International Monetary Fund
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 Report Highlights Consumer Issues with Leading Credit Reporting Agencies
Consumer reporting complaints received by the CFPB increased significantly in 2021 over the prior year, with the bureau receiving more than 500,000 credit or consumer reporting complaints between January and September 2021 compared to the 319,000 it received in all of 2020, according to a recent report.
FSOC: Climate Risk Tops Financial Stability Priorities
Climate-related risks rank among the top priorities for the Financial Stability Oversight Council, according to the latest FSOC annual report.
OCC Seeks Feedback on Climate Risk Principles for Large Banks
As expected, last month the OCC issued a set of draft principles providing a framework for climate risk management for banks with more than $100 billion in total consolidated assets.
Fighting the Rise in Ransomware Attacks: The Value of Breaking Through Silos
Confronting the disconnect between the law enforcement experts who understand how the criminals commit crimes and the financial industry experts who understand how the money moves.
Mortgage Servicers Face Forbearance-Exit Tsunami and Aggressive Regulators
"We think the new administration will be aggressive and, quite frankly, willing to press the boundaries, since they can’t really know the limits of their authority unless they test it."
Abrigo
A10 Networks, Inc
FDIC Releases New FAQs, Designated Exception on Brokered Deposits
The FDIC has released three new frequently asked questions on its brokered deposits rule, which took effect in April 2021.
FinCEN Observes Increase in Wildlife Trafficking SARs
Suspicious activity reports related to wildlife trafficking—which includes the illicit trade of protected animals, animal parts and derivatives thereof in violation of international or domestic law, and associated money laundering activity—"trended significantly up" between 2018 and 2020, and are expected to increase even more in 2021, FinCEN said in a new threat analysis.
Agencies Extend Reg O Relief for Certain Fund-Controlled Companies
The federal banking agencies extended no-action relief under Regulation O for banks lending to investment fund-controlled companies under specific conditions.
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
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Training

January 11 - 13
Virtual Conference: ABA/ABA Financial Crimes Enforcement Conference

January 18
Webinar: How to Evaluate and Transform Regulatory Change Management in 2022

January 24 - February 25
Facilitated Training: Managing Funding, Liquidity and Capital

January 30 - February 2
Conference: Insurance Risk Management Forum
Omni Amelia Island Resort, Amelia Island, FL

February 9
Webinar: New Frontiers in Combating Redlining

March 21 - April 22
Facilitated Training: Managing the Bank's Investment Portfolio

March 23 - April 6
Virtual School: Compliance School - Foundational

March 29 - 31
Virtual Conference: Risk Management Conference