Links in “Compliance Tips”
- Risk Watch 12: Top Five SAFE Act Errors
From the best practice for displaying mortgage loan originator (MLO) unique identifiers to third-party MLO due diligence, is your institution compliant with the SAFE Act? Find out in this video, where Analyst Abner Rangel will describe the top five errors with SAFE Act compliance that he's observed from his reviews. [5/9]
- Time to Add a Compliance Advocate?
In late 2012, this Tennessee CU had 1.5 people dedicated to compliance and BSA. Now it has five dedicated employees, plus two who work in legal. One employee is called the compliance advocate. [5/5]
- Risk Watch 11: The Waterfall: The Key to Optimizing Your AML System
Many institutions suffer from an overproduction of unnecessary AML alerts. On this episode of Risk Watch, Analyst Cody Knudsen will describe the key to optimizing your AML alert monitoring system: the waterfall model. [5/1]
- Heartbleed Lessons: Look for Odd Behavior on Internal Networks, Too
It is no longer enough to look for odd behavior with log-ins and actions in customer-facing offerings. Banks need to do the same with their own internal networks to detect whether criminals are seeking access. [4/29]
- Avoiding Potential UDAAP Violations
The CFPB has identified compliance with UDAAP requirements as a prime area of focus. Here are 7 steps you can take within your credit union to ensure you have proper due diligence measures in place to prevent potentially costly violations. [4/24]
- CFPB Presents 4 Mortgage Closing Challenges for Consumers
CFPB blog and report on the challenges of mortgage closing notes four primary areas including lack of sufficient time, quantity of paperwork, complexity of documents and errors in documents. Report further notes upcoming CFPB solutions to aspects of the closing process aimed at addressing those challenging areas. [4/24]
- Resources for TILA/RESPA Integrated Disclosure Forms
Need a little help processing the pending changes to the Truth in Lending Act and Real Estate Settlement Procedures Act integrated disclosure forms? Here are some resources. (Also see our video on the subject, Risk Watch 9.) [4/23]
- Lessons from Troubled Restaurants for Financial Institutions
Expert and former FDIC examiner Ken Agle has visiting more than 500 banks and credit unions in his 25+ professional experience. This article draws on his experience to point out what financial institutions can learn from failing restaurants. [4/22]
- Uptick in Private Companies Requesting HMDA Data
Who are these companies asking for your HMDA data, why are they asking, and do you have to comply? [4/21]
- NCUA Video Provides Insights on Risk-Based Capital
The newly released, two-part video on the NCUA's YouTube Channel provides insights for federally insured credit unions in understanding the proposed changes to NCUAâs Prompt Corrective Action rule that may affect CU's risk-based capital ratios. Link provides access to NCUA's Risk-Based Capital Calculator to compute impact and standing. [4/18]
