October 27, 2023

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October 27, 2023

Features

FinCEN’s slow and confusing start to AMLA raises bankers’ concerns

Despite the pressing need to crack down on financial crimes more effectively, FINCEN has brought to fruition only part of the Corporate Transparency Act, which itself is just one of AMLA’s 12 parts.

To effectively protect the consumer and the organization, it’s paramount to delve into the human side of financial crime, says expert in risk, forensic accounting and white-collar crime research.

Fed: Banks remain resilient but risks persist

The banking system remained sound and resilient as risk-based capital ratios remained close to average levels over the past decade, the Federal Reserve said in the second of its biannual financial stability reports.

Ncontracts, launched an online training program “Nstitute Certified Vendor Management Professional (NCVMP)" certification based on the new interagency guidance on 3rd party risk management. Nstitute is a self-paced, training program that covers essential areas of third-party risk management to empower vendor managers and professionals tasked with overseeing third-party vendors, consultants, fintechs, and others. Ncontracts is currently offering an exclusive 30% discount.

Learn More

Risk and Compliance News

Banking agencies release guidance for climate-related financial risk management

The FDIC, Federal Reserve and Office of the Comptroller of the Currency released interagency guidance for managing climate-related risk at financial institutions with at least $100 billion in assets.

The FDIC board voted in favor of proposed rulemaking to implement the Fair Hiring in Banking Act, a 2022 law that eases existing restrictions on bank hiring of job candidates with criminal histories.

The CFPB released its long-awaited rulemaking on consumer-authorized financial data sharing.

Banking regulators release CRA final rule

The Federal Reserve, FDIC and OCC released the final rule to modernize how they assess compliance with the Community Reinvestment Act.

The FDIC, Federal Reserve and OCC announced that they have extended the period for public comment on the proposed capital requirements for banks with more than $100 billion in assets to Jan. 16, 2024.

The Federal Reserve is developing "both exploratory macroeconomic scenarios and exploratory market shocks" for use in next year’s stress tests, Fed Vice Chairman for Supervision Michael Barr announced.

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Training

October 30 - November 15
Virtual School: Compliance School – Foundational

October 30 - January 5, 2024
Facilitated Training: Managing Interest Rate Risk

November 3
Webinar: ABA Experts Webinar: What You Need to Know about the CRA Final Rule

November 7
Webinar: Tech Innovation and AI – Managing Risk in the Rapidly Evolving Landscape

November 9
Webinar: ESG-Conscious Capitalism: Implications and Strategies for Bankers

November 28 - 30
Conference: ABA/ABA Financial Crimes Enforcement Conference
Gaylord National Resort & Convention Center, National Harbor, MD

December 14
Webinar: Top Risks & Compliance Concerns for 2024

January 22 - Fenruary 23, 2024
Facilitated Training: Managing Funding, Liquidity and Capital

January 22 - March 8, 2024
Facilitated Training: Analyzing Bank Performance

January 28 - 31, 2024
Conference: Insurance Risk Management Forum
Amelia Island Resort, Amelia Island, FL