Sunday, October 22, 2017

A Lesson in Equifax

Posted by Joseph December 31, 1969 7:00pm
Sample Image 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...

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Controls over Employee and Officer T&E Expenses

Posted by Sharon August 16, 2017 11:05am
Sample Image 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...

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Is Regulation CC Put on the Back Burner?

Posted by Sharon August 15, 2017 4:36pm
Sample Image 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...

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Training – An Investment and Risk Management Tool

Posted by OnCourse Staff August 15, 2017 1:19pm
Sample Image 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...

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Are You Gambling with Your BSA Program?

Posted by OnCourse Staff June 27, 2017 12:16pm
Sample Image 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...

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ADA Website Compliance: For Whom the Bell Trolls

Posted by Joseph April 21, 2017 11:30am
Sample Image Photo Credit:

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...

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The Case of Foreign Banks and Heightened Scrutiny

Posted by David March 24, 2017 2:35pm
Sample Image 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.

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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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