Links in “Compliance Tips”
- CFPB Issues Credit Card Agreement Rules
The CFPB issued a final rule aimed at improving the way that companies submit consumer credit card agreements to the Bureau. The rule temporarily suspends a requirement that each quarter certain credit card issuers send their agreements to the Bureau, which publishes them in a public database on its website. Other requirements will remain unaffected by the new rule. [4/17/15]
- Out With the Old, In With the New
The OCC continues its efforts to update sections of the Comptroller's Handbook. This time the "Trade Finance and Services" booklet replaces the "Trade Finance" and "Bankers' Acceptance." [4/16/15]
- Compliance Officers and Their Crystal Balls
More than ever, compliance officers are being asked to be risk identifiers looking around the corner for their financial institutions, rather than just putting out fires. It's a tall order. [4/2/15]
- Risk Watch 48: Countdown to August 1: TILA/RESPA Integrated Mortgage Disclosures
To help address the overlap caused by two different sets of loan disclosures (one for TILA and one for RESPA), the CFPB has finalized a rule with new, integrated disclosures. The implementation dateâAugust 1âis looming. Get ready for the change with AffirmX Senior Analyst Coppelia Padgett. [2/6/15]
- How Management Is Pushing Bank “Culture”
In response to increasing regulatory attention on bank "culture" that promotes compliance to the spirit of the law as well as the letter of the law, here is what some banks are doing. [2/3/15]
- Risk Watch 47: Path to a Perfect Policy
Sometimes the best way to figure out how to make the perfect policy is by hearing what elements contribute to a bad one. Join AffirmX Analyst Quinton Harrison as he describes the four types of flawed policies we see. [1/29/15]
- When Disaster Strikes
"If disaster struck your community right now, would your institution be ready?"Â In this article, AffirmX's very own Ken Agle describes two crucial pieces of any robust disaster recovery program. [1/28/15]
- Are You Confused about Error Tolerances for the New Integrated TILA/RESPA Disclosures?
The error tolerances for the new Loan Estimate disclosure that goes into effect on August 1st are not the same as the error tolerances for the current Good Faith Estimate. NAFCUâs blog unravels the mystery surrounding these difference and provides a handy reference chart. [1/28/15]
- Keep It Secret, Keep It Safe
The CFPB released a bulletin concerning the confidentiality of supervisory information (CSI). The bulletin details definitions, examples and legal restrictions surrounding CSI. [1/28/15]
- Having Trouble Taming the Continuing SAR Beast?
Our most popular blog post of last year was about writing a knockout SAR narrative (you can find part one here and part two here). But when reviewing suspicious activity reports, weâve noticed a large number of issues associated with those troublesome beasts known as continuing SARs. That's why AffirmX Analyst Rachel Osborn has provided a guide to writing a knockout continuing SAR narrative. [1/27/15]
