the AffirmX blog

Apples to Apples: The SCRA and the New MLA Rule

One great thing about the holiday season is pie. There's not much better than a slice of classic apple pie to top off a big holiday meal. However, baking a perfect apple pie is no easy feat. The novice pie-maker might assume that the Red Delicious apple left over from last week's grocery shopping would work [...]

By |2016-12-05T10:30:58-05:00December 5th, 2016|Blog|Comments Off on Apples to Apples: The SCRA and the New MLA Rule

Four Lessons From the Wells Fargo Fiasco

Although it's now been a few months since we first heard about all the troubles at Wells Fargo, the fallout is still continuing. This should be a reminder to all institutions that reputation risk is a serious business. Failure to manage this risk can have heavy, long-lasting consequences. So Wells Fargo's mistakes can teach us [...]

By |2016-11-28T10:00:04-05:00November 28th, 2016|Blog|Comments Off on Four Lessons From the Wells Fargo Fiasco

The Nine Nuggets of the New Mortgage Servicing Rules

The California Gold Rush brought over 300,000 people to California. As a result, San Francisco went from a small town of 200 to a boomtown of over 30,000, all in the space of a few years. Just the rumor of gold was enough to make people travel thousands of difficult miles to the wilderness of [...]

By |2016-11-21T10:00:15-05:00November 21st, 2016|Blog|Comments Off on The Nine Nuggets of the New Mortgage Servicing Rules

The Third Dimension of an AML Risk Assessment

Originally published on CUInsight.com When I was young, a teacher shared an analogy that has always stuck with me. I can’t exactly remember what she called it, but I’ve taken to calling it “2-D Bob Meets 3-D Jill.” My teacher started by sketching a diagram on the board that looked something like this. Bob has [...]

By |2016-11-14T09:21:09-05:00November 14th, 2016|Blog|Comments Off on The Third Dimension of an AML Risk Assessment

Financial Education For Immigrants: Increasing Your Institution's Accessibility

A current hot topic in politics is immigration. For hundreds of years, people have been coming to the United States for hundreds of different reasons. But politics and history aside, people keep moving to the United States, and these people earn and spend money, and have to make financial decisions. For someone in a new [...]

By |2016-11-07T10:00:46-05:00November 7th, 2016|Blog|Comments Off on Financial Education For Immigrants: Increasing Your Institution's Accessibility

Lessons From BancorpSouth's Fair Lending Woes

Originally published on CuInsight.com BancorpSouth Bank, headquartered in Mississippi, took a $10.6 million misstep when its mortgage lending practices allegedly discriminated against African-American consumers. While the bank has not admitted to the allegations, it did agree to a proposed settlement and consent order with the CFPB and the U.S. Department of Justice of charges that [...]

By |2016-10-31T09:00:20-04:00October 31st, 2016|Blog|Comments Off on Lessons From BancorpSouth's Fair Lending Woes

The Look-Back Project: An AML Marathon

The annual New York City Marathon is just a little over two weeks away. If you’re planning on running in it, you hopefully began training many months ago. Unless you’ve got some superhuman characteristics, the average person can’t simply run a marathon on a whim, without any training. However, if information comes to light that [...]

By |2016-10-24T10:14:08-04:00October 24th, 2016|Blog|Comments Off on The Look-Back Project: An AML Marathon

Ignorance is Not Bliss: TCPA Risk Assessment

There are some things that people should probably ignore; like bad advice, things they can’t control, and doubts and fears that prevent them from doing good things. There are some things that people wish they could ignore; like the barking dog at 3 o’clock in the morning, the 6-year-old asking relentlessly for candy, and the [...]

By |2016-10-17T11:00:21-04:00October 17th, 2016|Blog|Comments Off on Ignorance is Not Bliss: TCPA Risk Assessment

Historic Hairdos and the Recent FFIEC Consumer Compliance Rating System Revisions

Some hairstyles are timeless; others come and go faster than half-price electronics on black Friday. Every decade has had its hairstyle highs and lows. When it comes to the 80s, there were some truly awesome hairdos that, thankfully, stayed in the 80s. The mullet, for example. However, despite being 2016, there are (unfortunately) a few [...]

By |2016-10-10T09:00:12-04:00October 10th, 2016|Blog|Comments Off on Historic Hairdos and the Recent FFIEC Consumer Compliance Rating System Revisions

Cybersecurity: The Trojan War and the FFIEC Information Security Booklet

The story of the Trojan war is one of the most well-known in Greek mythology. The Spartans besieged Troy, but despite having both Achilles—the greatest warrior in Greek mythology—and a much larger army, the city stood. According to the myth, it was prophesied that Troy could not fall unless some very specific conditions (something about [...]

By |2016-10-03T10:00:44-04:00October 3rd, 2016|Blog|Comments Off on Cybersecurity: The Trojan War and the FFIEC Information Security Booklet