Links in “Agencies”

FinCEN published the opening remarks from the MSB Roundtable on January 13^th. The remarks focus on the risks of MSBs and what is expected of financial institutions with MSBs. [2/2/15]

Two car title lenders, First American Title Lending of Georgia, LLC, and Finance Select, Inc., were charged with deceptive advertising. Both companies advertised an interest rate of zero percent for a 30-day car title loan without disclosing important conditions. [2/2/15]

The FFIEC members issued guidance for financial institutions on private student loans with graduated repayment terms at origination in an effort to recognize challenges for many in today's competitive job market that places heightened financial strain on graduates looking to repay student loans. Notwithstanding, the FFIEC members continue to champion prudent underwriting and education on features of loan terms. [1/30/15]

The FDIC issued a new statement encouraging institutions to take a risk-based approach in assessing individual customer relationships rather than declining to provide banking services to entire categories of customers. The action follows a series of efforts by regulators to reduce “de-risking,” or exiting whole business lines by financial institutions. [1/30/15]

The CFPB is proposing several changes to its mortgage rules to facilitate responsible lending by small creditors, particularly in rural and underserved areas. The proposals would increase the number of financial institutions able to offer certain types of mortgages in rural and underserved areas and aid small creditors in adjusting their business practices to comply with the new rules. [1/30/15]

Sullivan & Cromwell, LLP, provide an insightful end-of-2014 review of U.S. BSA/AML and sanctions developments and their importance to financial institutions in. [1/30/15]

The CFPB announced its partnership with the Financial Services Roundtable during a speech given by Cordray. The purpose of this partnership? Financial education. [1/29/15]

The webinar is being held February 5^th and will cover topics like overdraft protection, payday lending, prepaid cards, mobile payments, and how you can prepare yourself for what lies ahead. [1/29/15]

"If disaster struck your community right now, would your institution be ready?" In this article, AffirmX's very own Ken Agle describes two crucial pieces of any robust disaster recovery program. [1/28/15]

FinCEN fined Oppenheimer & Co., a broker-dealer, $20 million for failing to perform adequate due diligence on a foreign correspondent account and failing to comply with Section 311 of the USA PATRIOT Act. This is the third and largest fine Oppenheimer & Co. has experienced in the past 10 years. [1/28/15]