by georgeoself | 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...
by georgeoself | Bank Compliance, Bank Customer Complaints, Compliance, Cost of Non Compliance, Deceptive Advertising, Deceptive Disclosures
Getting ready for your bank’s next consumer compliance exam will require a new, different mindset. Your bank can easily trip and fall over a practice you never noticed — much less thought of as “harmful.” To bankers who have recently been through this new...
by georgeoself | Bank Customer Complaints, Bank Security, BSA Compliance, Compliance, Cost of Non Compliance, Deceptive Advertising, Deceptive Disclosures, Unfair and Deceptive Bank Practice
The next big thing in bank compliance. You heard it here first: banks will be going on the offensive to solve their customer’s security problems by launching “Customer Security Portals” and “Customer Feedback Portals.” Banks are making...
by georgeoself | BSA Compliance, Cost of Non Compliance, Deceptive Advertising, Deceptive Disclosures, Unfair and Deceptive Bank Practice
Protect your bank from adverse UDAAP exams with these 4 steps. The regulatory, reputational and financial risks posed by an adverse result from an Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) examination are significant – no, make that VERY significant....
by georgeoself | Bank Customer Complaints, Compliance, Deceptive Advertising, Deceptive Disclosures, Unfair and Deceptive Bank Practice
My grandfather used to say there were two damned lies. The first was told to children: “This hurts me more than it does you.” The second was, “The check is in the mail.” To this I add a third lie: “Your funds will be available in two...
by georgeoself | Bank Customer Complaints, Compliance, Cost of Non Compliance, Deceptive Advertising, Deceptive Disclosures, Reward Checking Account, Uncategorized
If you’re offering Rewards Checking accounts, you should take another look at your account disclosures. According to the FDIC, many banks are simply not being clear about exactly how the “reward” in Reward Checking can be earned. Frequently the...
