Legislative Update: Bankers Asked to Fight Human Trafficking

Tiffany L. Brown, Esq., Regulatory Attorney

Jun 23, 2017

This April, bipartisan bicameral legislation was introduced to expand the role financial institutions play in the fight against human trafficking. The bills, introduced by Chairman Ed Royce of the House of Representatives Committee on Foreign Affairs and Senator Elizabeth Warren of the Senate Committee on Banking, Housing and Urban Affairs, aim to hit human trafficking criminals in their wallets.  

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The Audit is Coming...The Audit is Coming!!! Are you ready?

Gina Carter, AAP Lead - ACH Audit Program

Jun 20, 2017

As an auditor, I have seen clients lose their composure just because I walk through the door. In my experience, mention the word Audit or Auditor and watch the impending doom crash in like a stormy day. I can tell they are thinking, “Not again?!” or “Didn’t I just see you?!” With regulatory and rules requirements constantly in flux, a strong audit regimen is essential to ensuring your success - it’s also a required component of your compliance program! When I was a banker, I looked at an audit as an opportunity to have an extra set of eyes on my program to ensure that gaps were identified and could be resolved.

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Revised Closing Disclosure = New Waiting Period?

Brian Johnson, Director of Compliance Support, CRCM

Jun 07, 2017

Even though the TRID (TILA-RESPA Integrated Disclosure) requirements are few years old now, a significant number of the questions we receive still pertain to different aspects of these requirements. One such question that keeps resurfacing is whether or not a new waiting period is required when a revised Closing Disclosure is provided to the consumer.

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Complaints? What complaints?

Lori Peterson, Director, Regulatory Infrastructure, CRCM

Jun 05, 2017

Your institution isn’t one of “those” institutions that opens accounts and adds products or services without a specific request or consent, so you don’t get “any” complaints, right? Think again.

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Compliance for Commercial Loans? Yes!

Donna Cameron, Director of Regulatory I/O, CRCM, CCBCO

May 26, 2017

Keeping track of which of the “alphabet soup” of regulations apply to business-purpose loans can be challenging for commercial lenders. Unlike their counterparts in consumer lending (who live every day with disclosures, mandated timelines, and specific forms), commercial lenders may not be thinking “compliance” all-day, every day. So let’s recap the rules that seem to cause the most confusion:

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Deposit Advertising FAQs - Webinar Q&A

Donna Cameron, Director of Regulatory I/O, CRCM, CCBCO

May 19, 2017

 On May 4, 2017 Continuity hosted the Deposit Advertising FAQs WebinarThis presentation addressed reviewing deposit advertisements, and how they can be a challenge for even the most seasoned Compliance Officer. This presentation covers how the rules apply for specific types of deposit products, as well as any differences for various delivery methods.

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HMDA & Property Location: A Missed Opportunity

Sarah Boisvert, Lead HMDA Auditor

May 16, 2017

The new HMDA rule effective in 2018 will require covered institutions to collect and report a host of new data fields. While the new data fields represent an extensive compliance burden, it is easy to see the justification behind many of them: items like property value or credit score will contribute to an increased ability to answer complex fair lending questions with concrete data.

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Pros and Cons of the FinTech Charter

Tiffany L. Brown, Esq., Regulatory Attorney

May 03, 2017

Last December, the Office of the Comptroller of the Currency (OCC) issued a whitepaper titled, Exploring Special Purpose National Charters for Fintech Companies. According to the white paper, the OCC, which charters and supervises national banks, has the authority to offer Fintech companies a special purpose national charter. With technological advances in financial services, the OCC's whitepaper explores whether the OCC should consider establishing a special purpose national bank charter to a Fintech company.

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What should I tell the Board?

Lori Peterson, Director, Regulatory Infrastructure, CRCM

Apr 27, 2017

As a compliance professional, you might be asking yourself the above question in light of the new Consumer Compliance Rating System that became effective 3/31/2017, which includes Board and management oversight as a primary focus. So what does that mean? What do you need to tell your Board so they can effectively oversee the institution’s compliance program?

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A slowdown in regulatory change? Don't say that to your Compliance Officer!

Donna Cameron, Director of Regulatory I/O, CRCM, CCBCO

Apr 26, 2017

 If you attended Continuity’s quarterly RegAdvisor® Pro briefing on April 13, you know that the number of regulatory issuances was historically low in the first quarter of 2017 - 47 items issued, compared to 115 in the fourth quarter of 2016! To put this in perspective, a “normal” quarter sees approximately 70 new issuances.

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Compliance Webinars

Q2 2017 RegAdvisor Webinar
Q2 2017 Enforcement Actions Webinar
Q3 2017 RegAdvisor Webinar
Q3 2017 Enforcement Actions Webinar
Q4 2017 RegAdvisor Webinar
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