Validation: The Pièce de Résistance of Anti-money Laundering

Originally published on CUInsight.com. Even the best kitchen in the world—equipped with a brick oven, top-of-the-line equipment, and the sharpest knives—can’t turn a bad cook into a great one (even though it could help). The substandard cook still needs to learn some critical cooking skills before the dream kitchen can produce the pièce de résistance. [...]

By |2015-03-09T10:59:31+00:00March 9th, 2015|Blog, Compliance Tips, FAQs|Comments Off on Validation: The Pièce de Résistance of Anti-money Laundering

Those Who Do Remember History: Part 2

Part 2 of 2 When it comes to compliance, sometimes knowing the “why” can make all the difference. In this two-part series, Ken Agle provides some background on how the gold standard, historical wars, economic development, and other events have impacted modern transaction limitations. In Part 1 of this series, Ken gave a brief overview [...]

By |2015-02-24T11:19:26+00:00February 24th, 2015|Blog, FAQs, Specials|Comments Off on Those Who Do Remember History: Part 2

Those Who Do Remember History: Part 1

Part 1 of 2 When it comes to compliance, sometimes knowing the "why" can make all the difference. In Part 1 of this series, Ken Agle provides some background on how the gold standard, historical wars, economic development, and other events have had upon modern transaction limitations. “My financial institution stopped paying interest on my [...]

By |2015-02-16T12:00:38+00:00February 16th, 2015|Blog, FAQs, Uncategorized|Comments Off on Those Who Do Remember History: Part 1

What compliance tools should I consider for 2014?

2014 is going to be an extremely challenging year for your compliance staff.  First, you have the numerous and extraordinarily complex new mortgage regulations that go into effect in January, 2014 that may affect multiple departments within your organization.  These will be followed later in the year by the new combined TILA/RESPA disclosures.  Second, the [...]

By |2013-08-06T14:00:05+00:00August 6th, 2013|Compliance Tips, FAQs|Comments Off on What compliance tools should I consider for 2014?

The Value of "Centralized Specialization" in Compliance Risk Assessments for Banks and Credit Unions

The traditional model of compliance review services has always been to randomly select and review documents and compare them to known standards and templates that reflect an optimal version of what that document should look like. But is that enough? When parents look to best help their children prosper in the world, they rely on [...]

By |2013-07-26T21:07:55+00:00July 26th, 2013|FAQs|Comments Off on The Value of "Centralized Specialization" in Compliance Risk Assessments for Banks and Credit Unions

Can I Redact Personally Identifiable Information From my Document Submissions to AffirmX?

The question of the handling of personally identifiable information comes up occasionally in a prospective customer’s evaluation of AffirmX. Philosophically, AffirmX only wants to look at documents and reports that specifically address issues related to regulatory compliance. Unfortunately, some of these documents will contain PII even though it is extraneous to the document review that [...]

By |2013-07-22T20:09:30+00:00July 22nd, 2013|FAQs|0 Comments

Does AffirmX have a relationship with CU Policy Works or Policy Pro?

  Neither AffirmX nor its independent solutions sister company, AdvisX have direct relationships with Policy Pro or CU Policy Works.  Those solutions as we understand them, among others that are similar are templated policies that are provided in Word format to credit unions to adapt and adjust for their own needs.  While this can be [...]

By |2013-06-28T04:11:15+00:00June 28th, 2013|FAQs|Comments Off on Does AffirmX have a relationship with CU Policy Works or Policy Pro?

Where Can I Go to Get Compliance Assistance With All of the New Mortgage Regulations?

The Consumer Finance Protection Bureau has created a separate web page on which it provides compliance guides, videos, and quick reference charts to assist financial institutions with the myriad of mortgage regulatory changes.  Here is a link to the new web page:  http://www.consumerfinance.gov/regulatory-implementation/ AffirmX customers receive Bench Reports that provide plain English interpretations of the [...]

By |2013-06-19T22:33:15+00:00June 19th, 2013|Compliance Tips, FAQs|0 Comments

Does AffirmX Offer Compliance Services Through My Credit Union League?

AffirmX currently has strategic partnerships with the Mountain West Credit Union Association, covering the states of Colorado, Wyoming and Arizona, and the Maryland DC Credit Union Association. These two associations act as resellers of the AffirmX products in their respective states. Credit unions in these states can contact their league for information about the AffirmX [...]

By |2013-06-19T22:31:32+00:00June 19th, 2013|FAQs|Comments Off on Does AffirmX Offer Compliance Services Through My Credit Union League?