One of the consequences of shrinking interest rates and interest margins is that financial institutions’ reliance on non-interest income has significantly increased over the last decade. The Consumer Financial Protection Bureau (CFPB) published an initiative on January 26, 2022 stating its intention to research the impact of fees on American consumers. The press release specifically …
TCA’s VCM Service Offers Support If You’re Facing Personnel Challenges The great resignation has hit banks. Hiring and retaining personnel, especially those with specialized experience, is challenging for banks. That, coupled with other issues–a complex operating environment, greater cyber risk, and regulatory changes, for example –can raise your compliance risk. Those are some takeaways from …
Great Resignation Hits Banks, Threatens to Raise Compliance Risk Read More »
As the war in Ukraine escalates, the United States, by Executive Order from the President, has issued increasingly restrictive economic sanctions against Russia. As the volatility increases, the challenges facing U.S. financial institutions to avoid processing prohibited transactions also increases. As the effective date for several sanctions approaches, individuals and businesses may attempt to send …
What Does Your Institution Need to Know About Evolving Russian Sanctions? Read More »
Answer: Since the property is being deeded over to the borrower, the borrower is essentially purchasing the property for what is remaining Yes. Although no new money is being advanced, this is a new HELOC that will allow a customer to redraw on funds from the line It depends. If your customer is simply leasing …
TCA Compliance has expanded its staff in response to greater demand for its BSA/AML consulting services. Jennifer Rura CAMS, CCBP, recently joined Oak Brook, Ill.-based TCA as a BSA Associate. “We are seeing examiners more consistently expect model validations of automated monitoring systems,” comments Brian Crow, TCA’s Managing Partner/Co-President, who leads TCA’s seven-person BSA/AML team. …
TCA Compliance Expands its BSA/AML Team with New Associate, Jennifer Rura Read More »
TCA has moved our corporate headquarters from Chicago to Oak Brook, Illinois. While we are sad to leave our home for the past 30 years, we are excited for the new opportunities our new headquarters will provide. Given its central location, our new office is easily accessible from downtown Chicago, the suburbs, the airports, and …
Understand Mastercard’s revised arbitration process and how regulatory language applies to today’s digital transaction landscape. Brian Crow, CAMS Co-president/Managing Partner of Chicago-based TCA Compliance, will present a BankersOnline Learning Connect Webinar,“Mastercard & Reg E Error Resolution,” on October 16 at 10 a.m. During the two-hour event, he will discuss Mastercard’s recently revised arbitration process for …
Even banks that don’t provide services to the cannabis industry must protect their institutions. Effectively managing the risk associated with cannabis-related businesses has become critical to banks’ BSA programs. During a webinar entitled “Marijuana, Hemp and CBD. Oh My!” on August 4, 2020, TCA Compliance’s Brian Crow discussed the latest developments in the cannabis industry …
Webinar: Managing BSA Risks from Cannabis Businesses Read More »
Join Brian Crow, TCA’s Managing Partner, for an information-packed session on the latest developments in the cannabis industry and what they mean for your BSA Program. This is a high-risk topic that continues to evolve. Laws and regulations change, they vary by state, and there’s even inconsistency between the federal and state laws. Examiners are …
On June 29, 2020, FinCEN published FIN-2020-G001 providing guidance for obtaining due diligence information for hemp-related businesses. The BSA industry has wrestled with cannabis and its derivative rules since FinCEN’s initial 2014 guidance for banking marijuana-related businesses. Between 2014 and 2018, hemp was equated with marijuana since both are derived from the same plant. However, …
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