Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. You might also like this resource: "Building a strong future: Succession planning strategies for you AML program." FinCEN assessed a $1.5

Training 195

Training Compliance Fraud Policies 195

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech in banking and finance. What is regtech?

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech for banks to enhance their processes. What is regtech?

Technology 195

Technology Fraud Compliance Regulation 195

Independent Banker

SEPTEMBER 25, 2014

Anticipating what’s new for your community bank’s next field examination. This is particularly true for community banks preparing to undergo their next regulatory safety and soundness or compliance examination. The better prepared, the less likely they are to run afoul of the continually shifting regulations.

Compliance 101

Compliance Regulation Community Bank Community 101

Independent Banker

AUGUST 31, 2021

[There is a] need for strong voices to weigh in on how new regulation will affect our communities and the customers we serve. This month’s issue of Independent Banker focuses on regulation and compliance, which continue to be costly and important topics for our industry. A 2020 U.S. icba.org/events.

Community 145

Community Community Bank Compliance Regulation 145

Abrigo

FEBRUARY 11, 2022

The decision appears to mark the board’s final word on ongoing petitions from community banks and credit unions who asked for a delay or total exemption. Stay up to date with the latest CECL resources. The board also highlighted institutions’ ability to use peer data, making CECL scalable for smaller financial institutions.

Resources 195

Resources Regulation Community Bank Community 195

PYMNTS

NOVEMBER 9, 2016

Any organization, small or large, private or public, must handle the pressures of compliance. ” The impact of these noncompliance risks can also vary, Murphy explained, from having to take time and resources to settle the matter with a financial service provider to getting hit with fines and other penalties.

Compliance 174

Compliance Resources Data Management 174

Abrigo

OCTOBER 8, 2014

This article is the first in a two-part series on top concerns and growth strategies of community banks. Regulatory compliance. These are all phrases that resonate with community bankers. Regulatory Compliance. Community bankers are not keeping these concerns to themselves. Loan growth. Risk management.

Community Bank 191

Community Bank Community Strategy Risk Management 191

Abrigo

DECEMBER 22, 2023

You might also like this resource, Abrigo's "2022 Loan Review Benchmark Survey Results." download NOW Takeaway 1 The most popular blog posts on the Abrigo site reflect many of the priorities community banks and credit unions had in 2023. Community lending software can help get you there.

Lending 221

Lending Risk Management Community Management 221

Abrigo

FEBRUARY 14, 2023

Data collection requirements The CFPB 1071 rule is a top compliance concern According to a recent survey , financial institution executives’ top regulatory compliance concern is the final rule from the Consumer Financial Protection Bureau (CFPB) on data collection for small business loan applications.

Data 195

Data Lending Compliance Resources 195

Abrigo

FEBRUARY 23, 2023

Relationship focus helps CFIs Small banks can leapfrog competitors and better serve their communities by combining their unique advantages with smart management and partnerships. How can community financial institution leaders manage their challenges and seize their opportunities at the same time?

Community Bank 195

Community Bank Kansas City Community Lending 195

Abrigo

NOVEMBER 17, 2023

While some of the recent trending fraud schemes are not new, they have been transformed to prey on communities already dealing with unprecedented times. The second pillar concerns the cost of technical and human resources dedicated to fraud prevention, detection, and remediation.

Fraud 195

Fraud Training Trends Compliance 195

Abrigo

JANUARY 8, 2016

The GAO acknowledged that community banks, credit unions and their professional industry associations reported increased compliance burdens and reduced activity in specific business activities, such as certain mortgage lending, as a result of Dodd-Frank.

Regulation 150

Regulation FDIC Survey Community Bank 150

Abrigo

MAY 30, 2023

But compliance deadlines are tiered. June 28, 2023, based on the Code of Federal Regulations and the March 30 publication). However, compliance deadlines for affected financial institutions are tiered so that small business lenders originating the most transactions begin reporting data earlier than less active small business lenders.

Compliance 195

Compliance Lending Data Regulation 195

Abrigo

DECEMBER 11, 2014

While the final guidance clearly applies to larger financial institutions, community banks should still take note. ” The section further details this would only occur under extraordinary circumstances, but community banks should be aware of the new framework and even consider applying the guidelines as a proactive, best practice.

Community Bank 207

Community Bank Community Guidelines Risk Management 207

Abrigo

JULY 13, 2023

Takeaway 3 Consider providing resources teaching your customers red flags to watch for to avoid pig butchering scams. Crafty scammers exploit weaknesses in fraud and anti-money laundering (AML) compliance programs such as outdated technology, human error, or inadequate monitoring systems. billion in fraud losses in 2022.

Fraud 195

Fraud cryptocurrency Training social media 195

Abrigo

DECEMBER 8, 2021

If the board does not understand the Bank Secrecy Act (BSA) and your anti-money laundering (AML) program, they may not fully understand their role, affecting much-needed resources down the road. Set board expectations The board plays an integral role in creating a culture of compliance.

Training 195

Training Resources Video Compliance 195

Abrigo

SEPTEMBER 7, 2023

Separate and unconnected sources of lending and credit data, lack of technical resources, and simply overwhelming amounts of information are common barriers to creating lender dashboards or credit overviews. They can result in sub-optimal lending for community banks and credit unions as well as the communities they serve across the country.

Report 195

Report Lending Trends Data 195

Abrigo

JUNE 19, 2022

And while regulators said some institutions would find the ELE tool useful for CECL, they acknowledged it did not represent a preferred method of regulators or a “safe harbor” method for GAAP compliance. They said it would not change examiner reviews of CECL allowance components. keep me informed. What the ELE tool for CECL is.

Tools 195

Tools Regulation Data Resources 195

Abrigo

JANUARY 14, 2021

Takeaway 1 This round of PPP funding focuses on new borrowers in low- and moderate-income communities. . There is no doubt that the COVID-19 global pandemic has challenged communities across the country and has created a significant economic downturn, which has hit small businesses especially hard. PPP Fraud Spikes.

Fraud 195

Fraud Compliance Community Trends 195

Abrigo

JULY 10, 2023

AI fraud resources for customers Protecting your clientele from AI fraud AI fraud is not top of mind for most bank and credit union customers. Your financial institution can help build awareness and encourage best practices for protecting personal information by providing educational materials to your community.

Fraud 150

Fraud How To social media Security 150

Jeff For Banks

APRIL 4, 2024

Shadow bank lending is similar to bank lending but is not subject to the same regulations, and compensating deposit balace requirements. Regulation and the Political Environment "Last month, the CFPB reported how banks have become more dependent on these fees to feed their profit model on checking accounts.

Banking Trends 115

Banking Trends Trends Millennials Oregon 115

PYMNTS

NOVEMBER 3, 2017

wants to help small and medium-sized businesses (SMBs) adhere to the new European Union’s General Data Protection Regulation (GDPR). The regulation comes into effect next May, and the country is deploying a helpline service as part of its effort. million small organizations in the U.K. based SMBs.

Data 108

Data Compliance Security Regulation 108

Abrigo

FEBRUARY 23, 2022

Loan Decisioning Allows Small Business Lending to Grow Community financial institutions can leverage automated loan underwriting to increase small business lending and achieve consistency. . Would you like other articles like this in your inbox? Market Trend. Small business lending is a focus. Streamline the Process.

Lending 195

Lending Community Bank Community Analysis 195

Chris Skinner

MAY 23, 2017

Commissioned by the Financial Conduct Authority (FCA), the UK regulator, the aim was to identify how Industry Sandboxes, rather than Regulatory Sandboxes, can help to create new services in finance.

Fintech 202

Fintech Innovation Compliance Industry 202

Abrigo

DECEMBER 20, 2021

Now is the time for community financial institutions to pay attention. The CBOT penalty is a solid reminder to all community financial institutions that a robust AML program is critical in guarding against money laundering and terrorist financing risks regardless of size and risk. and CDD will be top of regulators' minds for some time.

Resources 195

Resources Texas Analysis System 195

PYMNTS

MARCH 11, 2019

With a permissioned blockchain network , services can be shared between credit unions, which could improve identification authentication and compliance surrounding regulations, know your customer, lending and payments. Under the plan, credit union members would be able to access the CULedger via a digital credential dubbed MyCUID.

blockchain 160

blockchain Regulation Community Bank Regional 160

Abrigo

SEPTEMBER 10, 2021

The role of BSA staff was typical compliance and very task-oriented. See Part I: Implications for Community Financial Institutions. However, the importance of this risk management function is not only essential to the financial institution, but also critical to our country, our communities, and our loved ones. Learn More.

Training 195

Training Risk Management Pennsylvania Resources 195

Social Assurance

MAY 22, 2020

The Office of the Comptroller of Currency (OCC) released its final rule that aims to modernize and update the Community Reinvestment Act’s (CRA) framework. To help you prepare, we created this overview of the critical changes in regulation. Expanded Qualifying Activities for CRA Consideration. Key Takeaway. Key Takeaway.

Compliance 29

Compliance Regulation Community Guidelines 29

PYMNTS

DECEMBER 2, 2019

Nonprofit organizations are responsible for providing multiple community services, including access to shelters, clothing, food and clean water, as well as educational and mental health resources. according to the latest figures from the IRS, which monitors and regulates such organizations. There are approximately 1.56

Management 141

Management Taxes Groups Regulation 141

ABA Community Banking

NOVEMBER 16, 2018

AML compliance related costs have increased by more than 50 percent over the past three years Feature Technology Compliance AML & Fraud Compliance Management Compliance/Regulatory Cyberfraud/ID Theft Consumer Compliance Feature3.

Resources 40

Resources Compliance Regulation Fraud 40

Independent Banker

AUGUST 31, 2022

Community banks can get up to speed on current legislation and regulations to both protect their customers from unauthorized or false deposit account transactions and to prevent them from happening in the future. The primary resource for deposit account error resolution is Regulation E—the Electronic Funds Transfer Act (EFTA).

Community Bank 91

Community Bank Regulation Community Training 91

Social Assurance

JULY 31, 2020

The new Community Reinvestment Act regulations from the OCC have been released! We’ve spoken previously about the key deadlines for compliance and how your financial brand can be the spark for engagement in your community. This can also be done through the bank’s website or via a community partner.

Community 15

Community Compliance Meeting Branding 15

PYMNTS

JULY 7, 2020

Now there’s the Retail Industry Leaders Association (RILA) asking for help with mandating mask guidance regulations to protect store personnel. Social media has been full of news of anti-maskers wrecking displays – and weeks ago, even attacking a store clerk because of regulations requiring them to mask up inside stores.

Retail 151

Retail Groups social media Policies 151

Independent Banker

OCTOBER 1, 2022

We explore how it can protect banks against financial losses and provide resources in the event of a cyber attack. AmTrust recently worked with one community bank client that was the target of a ransomware attack that shut down its branches for two weeks. Resources provide added value. By Beth Mattson-Teig.

Montana 152

Montana Policies Resources FDIC 152

Independent Banker

SEPTEMBER 25, 2014

A community bank’s practical guide to compliance cost control. When it comes to reducing compliance costs, recommendations typically fall into complicated territory. Few community banks have the luxury of ripping and replacing their entire compliance management strategy, leaving many executives on the hunt for practical tips.

Community Bank 105

Community Bank Compliance Community Resources 105

PYMNTS

DECEMBER 23, 2019

Its omnipresence is altering how members want to interact with their CUs, though regulatory and compliance issues often mean that members cannot reasonably expect the same lightning-fast interactions they might get from banks and FinTech firms. CUs are working to build community ties, especially during the holiday season.

Data 131

Data Lending Michigan Regulation 131