E-SIGN Refresher Course

The E-SIGN Act has been around since June, 2000. That means its 18th birthday is coming up. As banking regulations go, this isn’t exactly new. 18 years is plenty of time for the novelty to wear off and for it to become a commonplace part of your compliance routine. However, that doesn’t mean compliance is always straightforward and simple, especially now that the demand for electronic products and services is growing, including mobile banking, remote deposit transfers, e-statements, and online banking is at an all-time high. Continue reading →

SAFE Act Exceptions: Compliance Officer’s Best Friend?

Dog is Man’s best friend, they say, but the fact that “Beware of Dog” signs exist seems to sully the truth of that colloquial phrase. Yes, that snarling and vicious guard dog in your neighbor’s backyard might be somebody’s best friend, but it doesn’t seem to be friendly to humankind in general. It wouldn’t take much to provoke that dog into biting you. On the other hand, most well-mannered dogs that people keep as regular pets wouldn’t bite unless the circumstances were extreme. But push them Continue reading →

The Top 5 Posts of 2017

2017 is just about gone, but there’s still just enough time to look back and see where you’ve been. Here’s a look back at the top 5 most popular blog posts of 2017.

1. Don’t Strike Out: 5 Common SAFE Act Violations and How to Avoid Them

Babe Ruth is considered by many to be the greatest baseball player of all time. Why? Well for starters, he set MLB records for home runs, runs batted in, bases on balls, slugging percentage, and on-base plus slugging, Continue reading →

Compliance Culture Scoreboard: Eliminate the Tough Losses

If you’re a diehard fan of a sports team, you watch, read and listen to analysis, interviews and reports even beyond the team’s actual games. True fanatics will even watch the postgame interviews after a tough loss. In these interviews, reporters love to ask the question, “what went wrong?” The players or coaches almost always reply with something like, “we just didn’t want it bad enough,” or, “they just fought harder than we did down the stretch.”

What if your institution were asked, “what went Continue reading →

What Older Consumers Complain About

In the holiday movie classic, National Lampoon’s Christmas Vacation, Clark Griswold spends hours covering every inch of his house with strands of lights. Before turning them on, he gathers his family out in front of the house, calls for a drum roll, plugs in the lights, and . . . nothing. The lights don’t turn on. His in-laws scoff, calling it a waste of resources. Clark’s daughter says, “he worked really hard, Grandma.” His father in law replies, “so do washing machines.”

If all elderly folks Continue reading →

Front-to-Back AML Validation: How to Envision What You May Be Missing

Originally published on CUInsight.com

For those of us who experienced a partial loss of vision at a relatively young age, we likely remember the day that we learned we needed glasses. The process typically began with an elementary school teacher who noticed our permanent squint at the chalkboard. Before we knew it, we were sent to the school nurse for a primitive eye exam consisting of a few “E’s” in all of their assorted directions. Failing that, we were sent home with a note to our Continue reading →

Three Fair Lending Problem Areas

You’ve heard the news. CFPB Director Richard Cordray has stepped down. While we don’t yet know for sure exactly what this will mean for the CFPB’s enforcement efforts going forward, we can certainly expect some change.But if you think this means you can relax your compliance vigilance, think again. This is especially true when it comes to fair lending. While swings in the degree of fair lending enforcement may change, the underlying principles will remain, and a financial institution’s activities during periods of lax enforcement Continue reading →

Compliance Forecast: How Small Institutions Can Weather the Storm

We’ve had some wild weather here in the U.S. in the past several months. Hurricanes, flooding, and fires have hit multiple parts of the country. This has probably made you think at least a few times of disaster preparedness and what you can do to weather potential storms. Hopefully you’ve got a solid disaster preparedness plan in place, but today we’re going to talk about another type of storm: the compliance storm. You may be thinking, what compliance storm? Hasn’t there been a shift in Continue reading →

AML System Assembly: Don’t Ditch the Instruction Booklet

Whether it was a model airplane, some Legos, or a Swedish bookcase, odds are you’ve purchased something that requires some at-home assembly. What all these things have in common is the instruction booklet. Not all of these instruction booklets are created equal, however. Some are clear, precise and easy to follow, while others are so vague and complicated that trying to decipher them often results in pulling out your own hair and a few choice curse words. At one point or another, you may have Continue reading →

Cybersecurity Guide for Smaller Institutions: How to Not Be Easy Prey

The predator-prey relationship on the African Savanna is quite dramatic and conspicuous. The animals that take part are some of the most popular in the animal kingdom. The star predators are, of course, lions, but leopards, cheetahs, and crocodiles also get time in the spotlight. Gazelles, wildebeest, and zebras are popular players in the role of pitiable prey. You may have noticed that elephants, rhinos, and hippos are rarely preyed upon. Why? It’s quite simple. Size. These animals are just too big. Even if you Continue reading →