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.
Resources
Following are resources relevant to episodes of Risk Watch.
Risk Watch 147: What Financial Institutions Can Learn from Rabobank’s AML Mistakes
Risk Watch 146: Everything You Need to Know About the 5th Pillar in 5 Minutes or Less
Risk Watch 145: NCUA’s 2018 Supervisory Priorities
Risk Watch 144: HMDA Compliance Under New CFPB Leadership
Risk Watch 143: Top 5 Episodes of 2017
- RW 122: Key Takeaways from FinCEN’s 2016 SAR Report
- RW 123: Record Retention Management
- RW 139: HMDA 2018 Readiness Checklist
- RW 128: What Happens to Your SARs?
- RW 121: Changes to the Consumer Compliance Rating System
Risk Watch 142: Digging into ADA Website Accessibility
Risk Watch 141: Longer-Term Auto Loans on the CFPB’s Radar
Risk Watch 140: What Mid America Bank Did Wrong
Risk Watch 139: HMDA 2018 Readiness Checklist
Risk Watch 138: Making Your Website ADA Accessible
Risk Watch 137: Debt Collection Supervisory Highlights
Risk Watch 136: BSA/AML System Survivor
Risk Watch 135: State of Complaints
Risk Watch 134: CFPB’s Final TRID Amendments
Risk Watch 133—New York’s 504: BSA/AML Requirements That Could Concern You
Risk Watch 132: The 5 Parts of a Strong Fair Lending Policy
Risk Watch 131: What Older Consumers Complain About
Risk Watch 130: CFPB’s 2016 Fair Lending Report
Risk Watch 129: Beneficial Ownership and the Dark Side of the Moon
Risk Watch 128: What Happens to Your SARs?
- FinCEN Awards
- Contact Rachel Osborn
- AffirmX.com
Risk Watch 127: Remittance Transfers 101
Risk Watch 126: CRA Examination Toolbox
Risk Watch 125: What Merchants Bank Did Wrong
Risk Watch 124: Proposed ECOA Amendments
Risk Watch 123: Record Retention Management
Risk Watch 122: Key Takeaways from FinCEN’s 2016 SAR Stats
Risk Watch 121: Changes to the Consumer Compliance Rating System
Risk Watch 120: Consumer Complaints (Part II)
Risk Watch 119: Consumer Complaints (Part I)
Risk Watch 118—Front-to-Back AML Validation: You Don’t Know What You’re Missing
Risk Watch 117: NCUA Exam Prep Guide
Risk Watch 116: Changes to HMDA 2017
Risk Watch 115: Headache Management Tips for a Changing Regulatory Environment
Risk Watch 114—Fair Lending Model Validation: Strengthening Your Fair Lending System
Risk Watch 113—Comparative File Review: Your Fair Lending Microscope
Risk Watch 112: A Fair Lending Regression Analysis Explained for the Rest of Us
Risk Watch 111: The Fundamentals of Cybersecurity
Risk Watch 110: The Third Dimension of an AML Risk Assessment
Risk Watch 109: 6 Core Areas of a Solid Fair Lending Risk Assessment
Risk Watch 108: The How and Why of Social Media
Risk Watch 107: SCRA and the New MLA Rule
Risk Watch 106: Lessons From the Wells Fargo Fiasco
Risk Watch 105: New Mortgage Service Rules in 5 Minutes or Less
Risk Watch 104: Financial Education For Immigrants
Risk Watch 103: Fair Lending – Where BancorpSouth Went Wrong
Risk Watch 102: The CFPB and Debt Collection—Pay Up, But Pay Right
Risk Watch 101: TCPA Risk Assessments—You Can’t Just Phone It In
Risk Watch 100: Three Things FinCEN Wants You to Understand About their CDD Requirements
- Definitions to Help You Understand FinCEN’s New Rule
- Full Text of FinCEN’s Rule, Full Text of FinCEN’s FAQ
- hailey.jensen@advisx.com
- AdvisX.com
Risk Watch 99 | Deposit Discrepancies: Short-Term Benefits, Long-Term Consequences
Risk Watch 98: Changes to the CC Rating System, For Better or For Worse
Risk Watch 97: Three Things to Know Before Running Your First AML Look-Back Project Marathon
Risk Watch 96: Four Things You Should Know About the CFPB’s Payday Lending Rule
- CFPB’s Payday Lending Rule Full Text
- CFPB Issues Proposed Payday/Auto Title/High-Rate Installment Loan Rule
- AdvisX
- Email Zac Stucki
Risk Watch 95: The 4 ADA Hurdles Your Institution Might Still Need to Clear 
- WCAG 2.0 Full Text
- Most Website Are Not Compliant: Is Yours One of Them?
- AffirmX
- Email Mike Stottlemyer
Risk Watch 94: Member Business Loans: Commercial Lending Rule
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Risk Watch 93: Prepaid Cards a New Wrinkle in CIP Requirements
- Interagency Guidance to Issuing Banks on Applying Customer Identification Program Requirements to Holders of Prepaid Cards
- Federal Reserve Press Release on Guidance
- AdivsX
- Email Ken Agle
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Risk Watch 92: Grab a Wrench: Flood Insurance Fixes That May Be Heading Our Way
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Risk Watch 91: Hot Topics in Fair Lending
- Fair Lending Report of the Consumer Financial Protection Bureau
- Federal Register Summary
- Federal Register PDF
- Email Hailey Jensen
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Risk Watch 90: What’s Bugging Consumers About Mortgages
- CFPB Press Release
- CFPB April Monthly Complaint Report
- CFPB Mortgage Servicing Examination Procedures
- Email Rachel Osborn, AffirmX Analyst
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Risk Watch 89: Focusing on Fair Debt Collection
- Fair Debt Collection Practices Act Annual Report 2016
- Fair Debt Collection Practices Act
- Email Sydney Caskey, AffirmX Analyst
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Risk Watch 88: Stuck in the Middle of ECOA
- Hawkins v Community Bank of Raymore
- Equal Credit Opportunity Act
- Are guarantors applicants?
- Email Ken Agle, AdvisX President
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Risk Watch 87: The Reg. Z Rural and Underserved Rule
- HELP Act
- Operations in Rural Areas Under the Truth in Lending Act (Regulation Z); Interim Final Rule
- Email Mike Stottlemyer, AffirmX Director of Operations
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Risk Watch 86: Vendor Management Solutions
- No Action Letter Policy
- CFPB Statement on Policy
- CFPB 2013 Trial Disclosure Waiver Policy
- Email Jane Pannier, AffirmX VP and Regulatory Counsel
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Risk Watch 85: Vendor Management Solutions
- AffirmX Vendor Management Solution
- FFIEC Statement on Vendor Management
- AffirmX Platform Information
- Email Rachel Osborn, AffirmX Analyst
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Risk Watch 84: Effective Complaint Management
- CFPB Consumer Complaint Database
- NCUA Letter to Credit Unions 15-CU-04
- Responding to Consumer Complaints
- Mountain West Credit Union Association
- Email Julie Kappenman, AffirmX Senior Analyst
Risk Watch 83: The FFIEC Cybersecurity Assessment Tool Assistant
- AffirmX Cybersecurity Assessment Tool
- FFIEC Cybersecurity Assessment Tool
- FFIEC Cybersecurity Tool PDF
- AffirmX Platform Information
- Email Mike Stottlemyer, AffirmX Senior Analyst
Risk Watch 82: Limited English Proficiency, Unlimited Compliance Risk
- Final UDAAP Bulletin
- CFPB Fair Lending Report
- CFPB Spanish-English Financial Terms
- Email Quinton Harrison, AffirmX Analyst
Risk Watch 81: What are the Drivers of Regulatory Heat
- CFSI and Core Innovation Capital Study
- Study Review Concerning Overdraft Fees
- Consumer Spending & Financial Health Infographic
- Email Chris McCullock, AdvisX Regulatory Counsel
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Risk Watch 80: The Revised FDIC Compliance Manual 
- FDIC Compliance Examination Manual
- Bank of Anytown Template
- FDIC Letter: Revised Compliance Examination Manual
- Email Sydney Caskey, AffirmX Analyst
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Risk Watch 79: Five Warning Signs of Increased Fair Lending Risk
- CFPB’s Fall 2015 Semi-annual Report
- CFPB’s Fair Lending News
- CPBS’s 2015 Fair Lending Report
- FFIEC Statement
- Email Chris McCullock, AdvisX Regulatory Counsel
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Risk Watch 78: Preparing for the Coming Wave of Cyber Extortion
- FFIEC Statement on Cyber Attacks Involving Extortion Press Release
- FFIEC Statement
- FFIEC Cybersecurity Awareness Report
- Email Dennis Agle, AffirmX CIO
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Risk Watch 77: Kickstart My Money Laundering Scheme? Crowdfunding and SARs
- FinCEN
- FinCEN SAR Stats October 2015
- Interactive SAR Stats Tool
- Suspicious Crowdfunding Activity on the Rise
- Email Ken Agle, AdvisX President
- Kickstarter.com
- Indiegogo.com
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Risk Watch 76: Why the “New” HMDA is a Big Deal
- CFPB Final Rule Home Mortgage Disclosure Regulation C
- CFPB HMDA Page
- HMDA Key Dates Timeline
- HMDA Summary of Reportable Data
- HMDA Institutional Coverage – Who Must Report
- Email Barrett Jones, AdvisX Head of Data Analytics
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Risk Watch 75: Making SARs Work for You 
- FinCEN 2015 SAR Stat Report
- Archived SAR Stats
- FinCEN Interactive SAR Stats
- Email Ken Agle, AdvisX President
- AdvisX Compliance Services
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Risk Watch 74: RESPA Compliance and Marketing Service Agreements
- CFPB’s Compliance Bulletin on Marketing Service Agreements
- CFPB Article on New Compliance Bulletin
- AffirmX’s Compliance Services
- Email Mike Stottlemyer, AffirmX Senior Analyst
Risk Watch 73: Risk-Based Capital – What You Really Need to Know
Risk Watch 72: Why Aren’t Credit Unions Filing CTRs or SARs?
Risk Watch 71: Director and Fiduciary Continuing Education: How Much is Enough?
- Dollar Associates
- AffirmX Risk Intel Platform Video
- NCUA Duties of a Federal Credit Union Board of Directors
Risk Watch 70: Don’t Overlook the Low-Income Designation
- CFPB July Complaint Snapshot
- CFPB Consumer Complaint Database
- NCUA Consumer Assistance Center Press Release
- NCUA Consumer Assistance Center
- Advisx.com
Contact Ken Agle
- ken.agle@advisx.com
- 888.980.1949, ext. 7006
- FREE Complaint Management Program. Sign up for a free trial of My Risk InboX and request the tool.
Risk Watch 69: Don’t Overlook the Low-Income Designation
- NCUA Low-Income Designation Fact Sheet
- NCUA Office of Small Credit Union Initiatives
- William Myers – Director of the Office of Small Credit Union Initiatives
- Dollar Associates
- AffirmX Risk Intel Platform Video
Risk Watch 68: The NCUA’s New Fixed-Asset Limitation Rule
- Federal Credit Union Ownership of Fixed Assets (NCUA Rule)
- Dollar Associates
- AffirmX Risk Intel Platform Video
