|Photo Credit: J.R. Bale||
At this point, we have all heard about the Equifax breach that has affected approximately 143 million U.S. consumers along with certain citizens in the UK and Canada...
|Photo Credit: Galina Peshkova||
Over the past year, we have seen the regulators more closely scrutinizing banks’ expenditures as they relate to Officer’s Travel and Entertainment (“T&E”). Depending upon the nature of the bank’s business, asset size, and officer structure, controls in this area might vary greatly. However, one thing for sure is that we are moving towards the fact that institutions should have an adequate process in place to address their specific risks...Read Full
|Photo Credit: prykhodov||
Regulation CC was enacted in 1987 in order to standardize hold periods on deposits made to banks and to regulate a bank’s use of deposit holds. There have been many changes throughout the years, but one in particular is that all checks are considered local and clear on a much timelier basis than in earlier years. One thing that remains unchanged is Regulation CC applies to both personal customers and commercial customers...Read Full
|Photo Credit: Mikko Lemola||
Throughout my entire career in the banking industry, I have been a strong – actually make that an obnoxious – advocate for employee education and training. As a C-level executive at several institutions, I have both encouraged and required staff to seek out any and all seminars, conferences, schools and vendor programs...Read Full
|Photo Credit: Vitaliy Kytayko||
It’s that time of the year again for your BSA/AML compliance audit. We know how much you enjoy it when your BSA internal auditors show up with smiles as big and long as their request memos and sample sizes – from policies to procedures...Read Full
|Photo Credit: http://www.adatitleiii.com||
Over the last year or so, banks have been heavily focused on complying with the latest cybersecurity laws and regulations -- as they should be -- but lately, it has been a much older law that has been causing compliance and financial stress...
|Photo Credit: Kheng Ho Toh||
There is what appears to be a trend happening in the foreign branch banking market that seems all too consistent. That trend is the influx of MRAs, MOUs, and Consent Orders being handed down by the federal regulators for having insufficient BSA/AML and OFAC compliance programs.Read Full
OnCourse is a blog dedicated to providing an informative and fresh look at matters that affect the banking and financial industry including the direction of risk, compliance matters, audit, and more.
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