ABA Risk and Compliance
 
 
 
 
May 12, 2023
Features
Finding stability in a storm: The role of compliance in a crisis
Every bank should establish a core team for crisis management, with a clear idea of which functions should have a seat at the table.
Survey finds small-business lending fraud on rise
Lending fraud with small and midsize businesses has increased significantly over the last 12 months, and many financial institutions expect it to get worse, according to a new survey by LexisNexis Risk Solutions.
SYSTRAN
Thomson Reuters
Understanding (and using) ChatGPT in banking
Even with all the promise of ChatGPT and similar conversational AI technologies, humans should be part of the loop and review the outputs that are produced.
Podcast: A deep dive into the Section 1071 final rule
The CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act represents major change to how banks process and handle small business loans, taking what in many banks is a bespoke, tailored financial product and requiring a whole new way of doing business.
Risk and Compliance News
ABA, state associations urge passage of SAFE Act
Ahead of a hearing on the SAFE Banking Act in the Senate Banking Committee, ABA and 51 state bankers associations urged lawmakers to advance the bill as soon as possible, emphasizing that it would benefit law enforcement efforts, tax collection and public safety.
California regulator faults self, technology for SVB closure
State and federal banking regulators did not take steps to ensure that Silicon Valley Bank more quickly address problems identified by supervisors before its collapse, the California Department of Financial Protection and Innovation said.
Fenergo
Winnow Solutions, LLC
CFPB warns banks against reopening deposit accounts without permission
The CFPB issued a circular stating that a bank may violate federal law if it unilaterally reopens a deposit account to process transactions after a consumer has closed the account.
Nichols: Regulators should monitor possible bank stock manipulation
In an interview on Yahoo Finance, ABA President and CEO Rob Nichols reiterated the association’s recent call for the Securities and Exchange Commission to investigate short selling of bank stocks for possible illegal activity.
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.
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Training

May 15 - June 30
Facilitated Training: Analyzing Bank Performance

May 18
Webinar: Third-Party Risk Market Update

May 22
Webinar: The Current Compliance Landscape – An Update from ABA Experts

May 24
Webinar: Banking Digital Currency

May 30
Webinar: ABA’s Guide to Section 1071 – The Fundamentals

June 1
Webinar: Planning for Family Members with Special Needs

June 5 - July 7
Facilitated Training: Managing Funding, Liquidity and Capital

June 8
Webinar: The 2023 Fraud Landscape Mid-Year Update

June 13 - 16
Conference: Risk and Compliance Conference
Henry B. González Convention Center, San Antonio, TX

June 14
Webinar: Ways to Recognize and Combat Elder Financial Exploitation