Adverse Action Notice Requirements For Loans and Deposits
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Vendor Management – Monitoring Consumer Complaints
Even though a topic may not fall under TCA’s typical umbrella of compliance, we often have broader compliance discussions with our clients that we feel are important to share for informational purposes; this is one of those instances. We were told by a banker that an examiner had cited a deficiency in the institution’s vendor …
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ACH Activity: Are You Managing Your BSA Risk?
The Bank Secrecy Act requires banks to manage risks associated with automated clearinghouse (ACH) and international ACH transactions (IAT), which results in a need for effective risk mitigation strategies and monitoring processes. The sheer volume of ACH activity makes the task seem impossible. TCA’s BSA Action Team (BAT) can help evaluate the effectiveness of a …
FinCEN Finalizes New SAR
FinCEN announced updates to the Suspicious Activity Report (SAR) filing format in a notice to e‐filers. The announcement says that the revisions adhere to the changes listed in FinCEN’s February 2, 2017 Federal Register notice and will be live in June 2018. In these new filings, batch submissions will have to be made in an …