A common acronym being discussed more and more in fair lending circles is REMA. The goal of this article is to establish a better understanding of what REMA is and how it can impact your bank. REMA is defined as the Reasonable Expected Market Area, which is the geographical area the regulatory agency believes a …
These days, losses from Regulation E error claims are accepted by many institutions as the cost of doing business. Many institutions are relying more heavily upon internal and/or third-party fraud detection and prevention resources. But as you know, managing risk of loss is just part of the story. Regulation E compliance and financial risk continues …
Part 1 of a 6-Part Series Network security, once thought of as an IT issue, is now Cybersecurity. A name change was necessary to keep up with the times, but no matter what it is called, is it still just an IT issue? We don’t think so. A shift in thinking and a different perspective …
Back in 2012, the Bigger-Waters Act required implementation of rules regarding standards for acceptance of flood insurance policies by non-NFIP insurers, commonly referred to as private flood insurance. In October 2013, the regulators published a proposed rule. On January 28, 2019, the FDIC was the first regulator to release the joint rulemaking but we expect …
Final Rules Released for Acceptance of Private Flood Insurance Read More »
The government shutdown has ended for now, which is a relief to thousands of government workers. However, with another shutdown looming, many banks have asked in this period of uncertainty: How can we help affected individuals? Since we cannot predict the future, we thought the following would provide some ideas. The regulatory agencies have provided …
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