Compliance Nazis Need Not Apply

by George Self | May 8, 2017 | BSA Compliance, Compliance, Cost of Non Compliance, Deceptive Advertising, Uncategorized, Unfair and Deceptive Bank Practice

Here’s a blinding glimpse of the obvious: there are a slew of marketing concepts that would be very attractive to bank customers.  However, before a bank can kick off a new program, it needs to know if the new concept will comply with the State and Federal consumer...

Undone by a blue Schwinn

by George Self | Apr 26, 2017 | Bank Compliance, Bank Security, BSA Compliance, Compliance, Uncategorized

In 1955, when I was 9 years old, my father moved the family to Detroit, MI from Asheville, NC.  It was a sudden decision.  I came home from West Asheville’s Vance Elementary School one Friday afternoon and the following Monday, I was attending class at Burns...

Community banks and consumer compliance: a new-world co-dependency

by George Self | Aug 8, 2014 | Bank Compliance, Compliance

In the new world spawned by Dodd-Frank and the CFPB, community banks need to exploit every possible revenue possibility.  Not all, by any means, are viable. Of those that are, bank management needs the help of compliance people who have more to offer than knee-jerk...

Many BDOs and MLOs don’t get along with compliance officers. And, it’s their own fault.

by George Self | Jul 8, 2014 | Compliance

BDOs pretty universally refer to compliance officers as “Compliance Nazis.” They whine that the “compliance people won’t let us do anything.” I think I know why this happens, at least most of the time: Bank sales people, including BDOs...

The Fed has firmly put Compliance Officers in the management loop.

by George Self | Jul 5, 2014 | Bank Compliance, Unfair and Deceptive Bank Practice

Community Bank CEOs now joined at the hip with their Compliance Officers? Yep, and it happened on November 16, 2013. That’s the day the Fed published its new consumer compliance “Risk-Focused Examination Program.” That would be RFEP to you. The ties...