ABA Risk and Compliance
 
 
 
 
October 11, 2024
LexisNexis® Risk Solutions Keeps Fraudsters at Bay
LexisNexis Risk Solutions FL Inc®
When it comes to identity verification to prevent fraud, financial institutions face a difficult balancing act. Make customers jump through too many hoops and you risk losing them to a bank with a smoother experience. Eliminate all friction, however, and you expose your financial institution and its customers to unacceptable risk.
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Features
Fortifying the financial sector from cyber threats
As cyberattacks grow increasingly sophisticated and the expense of bank cybersecurity swells, the Treasury Department has rolled out free tools to help banks of all sizes keep up in the arms race. "Project Fortress" debuted in May as part of a larger initiative by the federal government to improve the nation’s cybersecurity across a range of business sectors.
Coming together to address cyber challenges
ABA's partnership with the Treasure Department and Financial Services Sector Coordinating Council aims at serious threats.
360factors, Inc
LemonadeLXP
More partners, more risk, more oversight
Education and expertise demands rise for boards amid growing oversight expectations for BaaS and fintech partnerships and other third party relationships.
Bank Community Engagement: Protecting teens from financial scammers
Open communication and education with real examples are the best steps in demonstrating that scams and fraud can happen to anyone.
Ncontracts Launches Nstitute: An Online Training Program to Earn Nstitute Certified Vendor Management Professional (NCVMP) Certification
Ncontracts®
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. 
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ABA’s Nichols: Fighting financial crime requires partnership between industry, government
When it comes to fighting financial crime, strong partnerships between the public and private sectors are essential, ABA President and CEO Rob Nichols said during this week's ABA/ABA Financial Crimes Enforcement Conference.
ABA: Proposed anti-money laundering requirements need further work
An interagency proposal to require financial institutions to establish and maintain risk-based anti-money laundering programs is flawed in that it would formalize a nearly universal recordkeeping practice and elevate it to become the foundation of all Bank Secrecy Act compliance, the ABA said in a letter to banking agencies.
Report: Regulators handed out more penalties in first half of 2024
The number of alleged consumer protection violations and financial offenses increased in the first half of 2024 while competition-related offenses declined, according to the latest regulatory violations report by the information services firm Wolters Kluwer.
Shield Compliance
Protecht Group
ABA joins with consumer group, associations to push FCC action on illegal texts
The ABA urged the Federal Communications Commission to issue new rules that would help stem the flow of illegal texts and calls to consumers. In a letter to the agency, ABA was joined by multiple stakeholders in pushing the FCC to act.
Agencies announce 2025 thresholds for consumer credit, higher-priced mortgage loans
The Federal Reserve and Consumer Financial Protection Bureau today announced the dollar thresholds used to determine whether certain consumer credit and lease transactions in 2025 are subject to certain protections under Regulation Z, which implements the Truth in Lending Act, and Regulation M, which implements the Consumer Leasing Act.
U.S. Commerce Department: Changing threat landscape means banks must do more on export control
Banks are being asked to do more in the area of export control because the international threat landscape has shifted dramatically in the past few years, a top U.S. Commerce Department official said during the ABA/ABA Financial Crimes Enforcement Conference.
How Do SMB Lenders Combat Fraud?
LexisNexis Risk Solutions FL Inc®
This 2024 SMB Lending Fraud Study highlights how SMB lenders are using technologies that recognize your customers, determine their point of access and distinguish them from fraudsters and malicious bots.

Learn how you can empower your organization with the knowledge to enhance security, minimize losses, and foster customer loyalty in an increasingly digital landscape.
Download the Study and Uncover Effective Strategies Today
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Training

October 14 - 18
School: Risk Management School – Advanced
Emory Conference Center, Atlanta, GA

October 14 - 18
School: Risk Management School – Foundational
Emory Conference Center, Atlanta, GA

October 14 - 17
School: Compliance School – Advanced
Emory Conference Center, Atlanta, GA

October 16
Webinar: 2024 Regulatory Updates and Compliance Challenges – Part 4

October 16
Webinar: Why Banks Are Banking on Identity

October 23
Webinar: Mitigating Loss: Understanding the Fraud Triangle

October 27 - 29
Conference: ABA Annual Convention
New York Hilton Midtown, New York, NY

October 28 - November 13
Virtual School: Compliance School – Foundational

October 28 - December 20
Facilitated Training: Managing Interest Rate Risk

October 31
Webinar: Hot Topics in Sanctions Requirements and Enforcement Actions