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Consumer Compliance Supervisory Highlights for March 2021

Per the CCSH publication by the FDIC, 99% of all FDIC-supervised institutions were rated satisfactory or better for consumer compliance.

Geographic Targeting Orders reissued for 12 metropolitan areas

The Financial Crimes Enforcement Network (FinCEN) announced the renewal of its Geographic Targeting Orders (GTOs).

Interagency statement on model risk management for bank systems

The recent supervisory guidance on the model risk management for bank systems supporting BSA/AML compliance and key points of consideration.

Sun setting of LIBOR and the heartburn it’s causing

Obstacles faced by credit unions in transitioning non-LIBOR indexes while the CFPB is still in the process of implementing new rules.

FinCEN releases COVID-19 advisory on health care and insurance fraud

Law enforcement and financial institutions have detected numerous instances of potential frauds related to health care benefit programs.

FinCEN: More changes to regulatory leadership

The Financial Crimes Enforcement Network (FinCEN) announces several key leadership changes for the bureau. Learn more.

Detecting and preventing fraud for PPP loans

With the extension of the PPP application, lenders should continue to be vigilant about the increased risk of fraud.

Importance of information sharing among financial institutions

Understanding the ins and outs of the USA Patriot Act section 314 and how it can benefit your anti-money laundering program.