ABA Risk and Compliance
 
 
 
 
April 14, 2023
Features
Banking in the cloud: Mitigating the regulatory and security risks
As Treasury plans to take a number of steps to assist financial institutions in reducing risk from the operational disruption of cloud services, banks can do a lot on their own.
FDIC vice chairman: Don’t blame regulatory tailoring bill for bank closures
Legislation that gave the bank regulators broad discretion over how they supervised certain banks had nothing to do with the failure of Silicon Valley Bank, FDIC Vice Chairman Travis Hill said.
SYSTRAN
Thomson Reuters
Future risk and compliance professionals may be just down the hall
As banks assess their team members, which skills should bring a current employee front and center for a possible career move into risk and compliance?
Nichols: Americans can be assured banking sector is strong
The important thing for Americans to know following the failures of Silicon Valley Bank and Signature Bank is that the overall banking sector is resilient, well-capitalized and has solid liquidity, ABA President and CEO Rob Nichols said during a wide-ranging interview for C-SPAN’s news program Washington Journal.
1071: What Does the Final Rule Mean for Small Business Lenders
Ncontracts®
The CFPB has released the final rule implementing Section 1071 of the Dodd-Frank Act. Ncontracts regulatory compliance experts have gone through all 800+ pages. Whether you're a commercial lender, compliance professional, or member of the C-suite, this webinar on Thursday, April 20, 2023 at 1pm CST will help you understand what the Section 1071 final rule means for your team and how to move forward with confidence. 
Register Now
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Treasury report recommends more BSA enforcement for ‘DeFi’ sector
Many existing decentralized finance services covered by the Bank Secrecy Act fail to comply with anti-money laundering and counter-terrorism financing obligations, which illicit actors exploit, according to a new Treasury Department report on illicit finance risks in the DeFi sector.
ABA, BPI urge FDIC to rethink deposit insurance signage updates
An FDIC proposal to modernize its sign and advertising rules is welcome, but a less prescriptive approach would allow banks to more effectively communicate to customers which bank products are FDIC-insured and which are not, the ABA and the Bank Policy Institute said in a joint letter to the agency.
ABA, trade groups urge changes to proposed Treasury check verification rule
A proposed rule to require financial institutions to use the Treasury Check Verification System, or a similar authorized system, to verify Treasury checks would place a significant burden on those institutions, ABA and three banking and credit union associations said in a letter to the Treasury Department
Fenergo
Winnow Solutions, LLC
CFPB establishes help line for small business reporting rule compliance
The CFPB has launched a dedicated regulatory and technical support program to help financial institutions comply with its final rule implementing Section 1071 of the Dodd-Frank Act, which requires the collection and reporting of credit application data for small businesses.
Chopra: Regulators can issue rules on executive compensation
CFPB Director Rohit Chopra said that existing law allows regulators "to really kick the tires" on executive compensation at failed banks like Silicon Valley Bank.
CFPB defines illegal abusive acts in proposed guidance
The Consumer Financial Protection Agency issued proposed guidance on the abusiveness standard as defined by the Consumer Financial Protection Act.
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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