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, 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...
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, 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...
by georgeoself | Bank Secrecy New Rules Beneficial Ownership, BSA Anti-Money Laundering, BSA Antimoney Laundering, BSA Civil Money Penalty, BSA Compliance, Compliance, Report on Beneficial Ownership, Unfair and Deceptive Bank Practice
New Beneficial Ownership Rules Coming for All Commercial Accounts The US Treasury is about to require that banks gather information about beneficial ownership for all corporate accounts. The rule, which will be subject to comment before becoming a final , is likely...
