Links in “Compliance Tips”

While financial institutions deal more with money than with morals, there are several mistakes with currency transaction reports that can reflect unfavorably on your entire BSA program. Take a look at this list to see if your institution is guilty of one or more of these “deadly CTR sins,” and find out what is needed for penitence. [10/14/14]

While most look at hiring more staff as the answer to increasing compliance demands, others have taken a different road: hiring software programmers to automate the work. (We might suggest a third alternative, but we get what the article is saying.) [10/13/14]

The CFPB has issued an updated “readiness guide” to assist financial institutions in preparing for the new combined TILA/RESPA disclosures that go into effect August 1, 2015. The guide provides checklists to assist with you with updating your policies and procedures. [10/9/4]

With mobile banking being the preferred method of banking by 10% of consumers, no wonder it has caught the attention of fraudsters. Here are 12 steps your consumers can take to protect the data on their mobile devices. [10/9/14]

When it comes to fair lending, many institutions leave the picture of their performance incomplete—they know their own numbers, but they fail to give these numbers context based on a comparison to such factors as population, income, age, gender, etc. In this article, AffirmX EVP Ken Agle teaches that analyzing your fair lending data in the right conditions can allow you to make accurate assumptions and derive important conclusions. [10/7/14]

Credit unions often rely on plastic card income and interchange fees, but mobile devices, apps, and currencies bypass traditional financial institutions and interchange services. A key defense can be to focus on building relationships rather than increasing transactions. [10/6/14]

Recently, the FFIEC released last year’s HMDA data. Because HMDA is often a favorite when it comes to regulatory scrutiny, institutions need to perform some self-analysis. In this episode, Ken Agle, AdvisX President, shares with us a few important questions every institution should ask about its HMDA compliance upon the release of new data. [10/3/14]

With all the breaches in the news lately, awareness may not be the problem. Nevertheless, here are some resources consumers may find helpful in addressing cybersecurity. [10/2/14]

Head of financial crime compliance at HSBC says there is a "need to take the temperature down" in the frenzied effort to root out fraudulent activity or face a potentially career-ending consequence. There is a need to strike a balance. "Every time something goes wrong, we don't need the scalp of a regulator or the scalp of a banker." [10/1/14]

The FDIC jumps into the fray to give its advice regarding the security vulnerability known as Shellshock. [9/30/14]