The industry gave a collective sigh of relief when the CFPB announced a much-needed postponement of the new integrated mortgage disclosures deadline to Oct. 3. But before any of us get too comfortable in this postponement, it’s important financial institutions keep up their preparation for these new integrated disclosures. And one of those preparations should [...]
One of the first places a regulator will start during any given examination is by looking at a financial institution’s policies, which is one good reason you should keep yours in tip-top shape. How exactly do you build that perfect policy? Sometimes the best way to figure out how to make the perfect policy is [...]
Though smaller financial institutions had little role in the recent financial crisis, they were struck with heavy regulation to match the large institutions. And because of these burdens, the market share for smaller financial institutions is shrinking at an alarming rate. A report released this last February by the Harvard Kennedy School on "The State [...]
A version of this post was originally published on CU Insight. "DDoS botnet makes slaves of your home and office router" "How 40,000 Routers Got Hijacked" "Home routers co-opted into self-sustaining DDoS botnet" "DDoS attacks affecting more countries than ever before" If you're unclear on the prevalence of DDoS issues, all it takes is a [...]
Chances are you haven't crammed for a final in quite some time. But why not give the FFIEC Cybersecurity Exam the old college try? It’s been almost two years since the Federal Financial Institutions Examination Council announced the addition of a cybersecurity risk assessment to regular IT examinations. The addition came with good reason, as cyber [...]
Lending to military members is an ever-increasing concern, and it's an area the CFPB has already cracked down on. But due to a high volume of complaints exposed in a recent report, the CFPB may be coming down even harder. High CFPB scrutiny for servicemembers is nothing new. During the mortgage crisis, the CFPB determined that more than 700 [...]
By Suzie Higbee AffirmX We know that a blog post about Unfair, Deceptive, or Abusive Acts or Practices may not be everybody's idea of good time. But that doesn't diminish the importance of keeping up to speed on the prohibited practices that could land your institution in hot water. With the recent excitement about the [...]
Spring training for Major League Baseball is long over, the regular season is winding down, and playoffs will soon be upon us. Over the course of a long season, the teams that spent their time during spring training actually training and preparing frequently find that it makes the difference between being a playoff contender and an [...]
The 2015 National Terrorist Financing Risk Assessment is an unprecedented report based on an analysis of more than 5,000 law enforcement cases, reporting by U.S. financial institutions, and reports from both the government and the private sector. The findings divulge that although U.S. wealth and resources are an attractive target for a wide variety of [...]
We've plowed right in to 2016 and groundhog day has come and gone. Everyone's favorite Punxsutawney Phil luckily did not see his shadow, predicting an early thaw. However, the compliance new year brought about minor new regulatory changes; changes that could be casting their own shadow on your institution's regulatory efforts. A quick review will help us all [...]
