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The AMLA and a Culture of Compliance – More Critical Than Ever

Abrigo

Culture of compliance is crucial to BSA/AML programs Culture of compliance within the BSA/AML framework is not new and was first introduced by FinCEN in 2014. Takeaway 2 Poor culture of compliance will result in shortcomings in a financial institution's BSA/AML program. A strong culture of compliance is crucial.

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How to prepare for FedNow: 5 Steps for your financial institution

Abrigo

The FedNow Service enables community financial institutions to stay competitive by meeting instant payment demands. This blog outlines five essential steps and considerations for an effective FedNow implementation. Compliance measures: Ensuring adherence to Reg CC and FedNow operating procedures.

How To 243
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Best Practices for a Successful BSA/AML Board Training

Abrigo

Set board expectations The board plays an integral role in creating a culture of compliance. Discuss how the community benefits from being instrumental in stopping illicit activity. Provide a copy of the FinCEN Advisory during the training. That is the type of front-page news you want for your institution. Watch Webinar. BSA Training.

Training 195
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Preparing for Section 1071

Abrigo

The data is intended to help the CFPB enforce fair lending laws and could also be used by the government and small business lenders to identify the needs of businesses, said Michelle Lucci, Abrigo Regulatory Compliance Manager. In fact, it took a lawsuit initiated by a California community group in 2019 to get things moving.

Lending 195
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Facebook's Libra Hires HSBC Veteran As Managing Director

PYMNTS

Levey added that he is confident that Emmett’s “leadership will help make Libra's vision a reality.". “I Libra Association, launched in June 2019, describes itself as an “independent member organization.” “The success of the Libra project lies with the extended community that supports it,” noted an organization blog post.

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Important Considerations When Growing the CRE Portfolio

Abrigo

In a survey of community banks and credit unions at the 2016 Sageworks Risk Management Summit, 42 percent of respondents said Commercial Real Estate, or CRE, lending was their primary focus for loan portfolio growth. This reflects a larger industry trend. For many, commercial real estate lending may be the ticket.

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Building your growth plan: Key metrics to consider - Part 2

Abrigo

As the leadership teams at many banks and credit unions perfect plans to grow their loan portfolios, management can depend on several key metrics to measure the effectiveness of their plans and execution. For banks and credit unions that have a community focus, this is an effective way to get the word out about your offerings.

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