CFPB Crackdown on Deceptive Advertisements to Servicemembers in Full Swing
The CFPB settles with its fifth, sixth, and seventh companies for deceptive advertisements directed at servicemembers and veterans. Deception included implying an affiliation with the government and misrepresenting fees associated with the loans. [9/4/20]
FinCEN: Unlawfully Disclosed SARs
FinCEN has issued a statement that it is aware that various media outlets intend to publish a series of articles based on unlawfully disclosed Suspicious Activity Reports from several years ago. FinCEN seeks to remind all parties that unauthorized disclosure of SARs is a crime. [9/2/20]
NCUA: We Prefer Carrots Over Sticks (But Reserve Stick Option)
When it comes to promoting compliance, the NCUA prefers to provide more carrots in the form of incentivizing and rewarding corrective action and self-identification of compliance deficiencies. But the agency will use, when necessary, formal actions (a.k.a. sticks) to correct violations. [8/28/20]
PEP Talk
What you need to know about the agencies' recent statement on BSA regarding politically exposed persons. [8/26/20]
Risk Watch Plus Webinar 8: Complaint Management
Complaints: Why you shouldn't shun them, but invite them! In this era of exploding complaint volume, this certificated webinar (see instructions in video for how to get your free certificate of completion) takes a look at the risks, evolution, and need for a management strategy to effectively deal with complaints. Before that, we cover what's hot in compliance, as seen by the editors of Risk InboX.