the AffirmX blog
SAFE! In addition to being in the top tier of regulations whose framers worked extra hard to come up with a pronounceable and relevant acronym (right up there with E-SIGN and the USA PATRIOT Act), the Secure and Fair Enforcement for Mortgage Licensing Act, a.k.a. SAFE Act, is also in the top tier [...]
Based on recent compliance news, regulatory scrutiny regarding discrimination is on the rise, resulting in enforcement action after enforcement action. The CFPB, HUD, and other agencies are taking no prisoners, and while the fines are not always huge, they are seeking to make some examples. For the sake of your institution’s reputation and checkbook (and [...]
As any health-conscious person knows, regular physical exams are the key to identifying potential problems while they are still manageable in order to stay at the top of their game. Similarly, for financial institutions to do the same, a “physical” is needed for every aspect of compliance, especially the regulatory behemoth: the Bank Secrecy Act. Recently, [...]
More and more financial institution processes are getting a technological makeover, and privacy is no exception. Regulation P currently requires financial institutions to provide initial and annual privacy notices to their customers/members by mail. The Consumer Financial Protection Bureau is proposing to allow an alternate delivery method (like posting it to your website) for the [...]
s_bukley/BigStock.com You remember the scene. Russell Crowe as math student John Nash in the film A Beautiful Mind, is sitting with his buddies in a bar, all contemplating going after the same woman. Suddenly, Nash is struck with his "governing dynamics" theorem—that perhaps, instead of the increased competition resulting in "blocking" and nobody [...]
I am not terribly skilled in the art form known as golf. Though I have a set of clubs, and I do swing them every now and then, clearly, I could not be considered a Golfer with a capital G. That said, a friend of mine tipped me onto a new-to-me golf phenomenon that looks [...]
Recently, our firm participated in an NCUA-sponsored workshop devoted to the Bank Secrecy Act. This event was immensely popular, attracting some 2,000 attendees. Of course, with that many in attendance, it was impossible to get to all the questions that were asked. Hence, we've decided to group the most popular questions into five representative questions [...]
By Susan Warner, Neustar AffirmX welcomes guest blogger Susan Warner, DDoS mitigation expert from Neustar, a leading provider of IT/Security services. On May 13 at 1 PM Eastern, Susan will join panelists Jane Pannier and Jesse Boyer from AffirmX for a free webinar: Is Your Credit Union Prepared for a DDoS Attack? If you haven’t [...]
—No, they really are this time. The CFPB has released an updated small entity compliance guide on the TILA-RESPA Integrated Disclosure rule. As you may remember the Dodd-Frank Wall Street Reform and Consumer Protection Act directed the newly created CFPB to integrate the mortgage loan disclosures under TILA (Regulation Z) and RESPA (Regulation X) back in [...]
As anyone who has lived since the invention of the Atari knows, technology is changing at a rapid pace. Because of this, financial institutions have been thrust into the race to update their technology. Winning this race is crucial to maintaining and increasing customer size and satisfaction. This is especially true of interbank collection and [...]
