Monday, December 10, 2018

Interagency Statement on Sharing BSA Resources and Challenges

Posted by Farrukh December 7, 2018 4:38pm
Sample Image Photo Credit: semisatch

On October 3, 2018, an Interagency Statement was issued by five agencies/regulatory bodies to provide banks with an option to enter into a collaborative arrangement involving two or more banks to share their available resources in order to ensure compliance with Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) requirements...

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Improving Cybersecurity Governance

Posted by Joseph July 18, 2018 2:34pm
Sample Image Photo Credit: iStock

The risk landscape for financial institutions is constantly changing with a myriad of new regulations and growing cybersecurity threats. In this environment, surveys continue to show that Boards of Directors and Senior Management lack confidence in their institution's cybersecurity capabilities and that cybersecurity governance is often inadequate...

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Sample Image Photo Credit: Stuart Miles

This past weekend, the New Jersey Legislature and Governor Murphy came to an agreement on Corporate Business Tax ("CBT") changes in connection with the State's 2019 fiscal year budget...

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Enhancing Data Protection

Posted by Joseph April 4, 2018 3:23pm
Sample Image Photo Credit: Marina Putilova

With the advent of new regulations, such as NYDFS Part 500 Cybersecurity Requirements and General Data Protection Regulations ("GDPR"), more focus has been placed on securing data in transit and data at rest...

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Sample Image Photo Credit: nerthuz

The recent tax law changes, which became law on December 22, 2017, will have a significant impact on future tax payments...

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Correspondent Banking: The Challenges of Data Transparency

Posted by David January 25, 2018 4:27pm
Sample Image Photo Credit: stocksnapper

As institutions continue to face challenging regulatory regimes and examinations, there are certain takeaways that banks, especially domestic branches of foreign banking organizations (“FBOs”), can benefit from, and adapt to, as a result...

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Regulation E and Business Account Errors

Posted by Sharon November 6, 2017 2:59pm
Sample Image Photo Credit: olegdudko

I was asked this week, how and when does Regulation E apply to business customers if they report a claim? My answer: it doesn’t, but it could...

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