Compliance Monthly Newsletter

Compliance Monthly is intended to keep you informed of regulatory changes in advance of their effective date. With current information, your institution can prepare the necessary policies, procedures, and processes and be compliant at the time of enactment.

REGULATORY COMPLIANCE CALENDAR


This content has been restricted to logged in users only. Please login to view this content.

February 2021 Compliance Monthly Newsletter

By Compliance, Compliance Monthly Newsletter

AML Act of 2020
On December 20, 2020, the National Defense Authorization Act (“NDAA”), was signed by the President and officially became law on January 1, 2020. The Act contains 1,500 pages known as the Anti-Money Laundering Act of 2020 (“AML Act”), significantly reforming the Bank Secrecy Act (“BSA”) and other anti-money laundering laws.
The 1,500 pages contain the most sweeping changes to the BSA since its enactment in 1970. No doubt that this Anti-Money Laundering Act of 2020 will have major impacts on your BSA AML program for
2021 and beyond.

Read More

January 2021 Monthly Compliance Newsletter

By Compliance Monthly Newsletter, Enterprise Risk Management

The Fair Lending Risk Assessment – The Finale
The fair lending risk assessment is an integral component of and the springboard for your fair lending program. It is a critical risk management tool that enables the institution to identify and measure the risk inherent in the institution, measure the risk inherent in the bank’s lending s lending processes and to determine what control and
processes and to determine what control and monitoring mechanisms are in place to protect monitoring mechanisms are in place to protect against illegal discrimination.

Read More

December 2020 Compliance Newsletter

By Compliance Monthly Newsletter

Fair Lending, the Sequel
Last month Accume addressed the Fair Lending – HMDA conundrum regarding data collection. As a follow up, we thought it would be a great idea to focus on the overall fair lending program itself. In light of recent examination findings at financial institutions, it is obvious that fair lending will remain a hot topic into 2021 and beyond…

Read More