Abrigo

JUNE 2, 2021

Does it address a “culture of compliance”? Data validation. If your model validation is not recent, have you completed internal periodic data validations? Is all BSA relevant data available for accurate transaction monitoring? Culture of compliance. Does it designate a qualified BSA Officer? Calibration.

How To 195

How To Training Compliance Policies 195

CFPB Monitor

NOVEMBER 22, 2022

Continue to engage with supervised institutions that are seeking to prudently implement new credit underwriting approaches, including those using alternative data. The Federal Reserve, FDIC, and OCC should finalize the interagency guidance for banks on managing risks associated with third-party relationships that was proposed in July 2021.

Fintech 78

Fintech Report Data Lending 78

CFPB Monitor

APRIL 1, 2021

In what could be an important step towards needed regulatory updating to accommodate the growing use of artificial intelligence (AI) by financial institutions, the CFPB, FDIC, OCC, Federal Reserve Board, and NCUA issued a request for information (RFI) regarding financial institutions’ use of AI, including machine learning (ML). Uses of AI.

Risk Management 78

Risk Management Training Lending FDIC 78

PYMNTS

FEBRUARY 8, 2019

The emails were reportedly only sent to certain anti-money laundering (AML) contacts, leading some to question if the National Credit Union Administration (NCUA)’s non-public data had been accessed, Krebs On Security reported. FDIC) and the Comptroller of the Currency were involved in the discussion.

FDIC 134

FDIC Community Community Bank National 134

Independent Banker

OCTOBER 1, 2022

Cybercrime is becoming more sophisticated, with bad actors aiming to profit from data theft, malware and ransomware attacks. The FDIC and the OCC also issued an interagency statement on heightened cybersecurity risk that focuses on ways banks can reduce the risk of a cyber attack and minimize business disruptions.

Montana 152

Montana Policies Resources FDIC 152

Abrigo

NOVEMBER 9, 2022

The Q1 2023 compliance date is near for smaller SEC-reporting financial institutions and private or not-for-profit banks and credit unions, and progress is decidedly mixed, according to the Abrigo 2022 CECL Survey. Most bankers (86%) indicated they’ve moved beyond data collection in 2022, even if they haven’t yet adopted the standard (i.e.,

Survey 195

Survey Software Resources Meeting 195

FICO

DECEMBER 20, 2018

Siloed business units and technology stacks for credit risk, marketing, fraud and compliance work extraordinarily well for maintaining the status quo, but poorly when it comes to large-scale transformation. To quote an executive at Varo Money, “fraud follows speed.” Payday Lenders Will Face More Robust Competition.

Trends 73

Trends Lending Fraud Exercises 73

Javelin Strategy & Research

SEPTEMBER 2, 2014

I’m not a compliance expert and am equally inexperienced on such pan-industry areas such as lending or payday loans, yet I do know how digital innovation changes the value proposition for all participants in the industry. In my Javelin work I frequently analyze our proprietary data to search for the elusive “win-win”.

Innovation 58

Innovation DC FDIC Strategy 58

William Mills

SEPTEMBER 9, 2016

I like the idea but I am a bit concerned about the potential for fraud from both companies and investors. Addresses compliance, fraud experience and customer experience analytics. Social media is a special challenge since social media was not created with compliance in mind. I need to learn more.

social media 40

social media ATM Mobile Customer Experience 40