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Compliance Huddle

Join us for the latest updates on recent exams, disaster planning, prepaid cards, Beneficial Ownership Rule, and Mortgage Loans to stay informed and compliant. Contact Compliance Alliance for further assistance.

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Compliance Huddle

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  1. Compliance Huddle March, 2017

  2. Recent Exams • Does anyone currently have examiners on-site? • Is there still a continuing increase in request information? • What is the focus of the on-site? • Has anyone just been through an exam or recently received their ROE? • Has examiner “tone” changed from the last on-site? • Are the reports giving credit where credit is due, or if there were concerns, are the reports written in such a way that the regulators are seemingly sympathetic or more demanding? • What are some of the areas of focus?

  3. Disaster Planning • Business continuity plans, when was the last time you reviewed it? • Natural disasters: • Flood • Earthquake • Tornado • Hurricane • Other disasters: • Extended power outages • Network outages • Cyberattack • These are problems, but also an opportunity to show how vital you are to your community in times of need.

  4. Prepaid Cards • Do you offer them? • What issues are you dealing with? • What about payroll cards? • CIP?

  5. Beneficial Ownership Rule • Lots of confusion – how are you handling it? • Training for bankers • Certification form • Who are you getting CIP information on?

  6. Mortgage Loans • Loan Servicing Transfers • Some unique situations: • Successor-in-interest transactions and dealing with the estate • Assumptions • Owelty liens (divorce) • Any others?

  7. Anything Else on Your Mind…

  8. Questions? Thank you for your participation and input into the conversation! If you have any additional questions, contact Compliance Alliance at hotline@compliancealliance.com or 888-353-3933.

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