Banking Strategies to Power Smart Decisions

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Mar 1, 2024

Every company has policies that cover how to identify and prevent discriminatory behavior. Even after employees acknowledge these policies, there are inherent biases they could have where they may discriminate without even realizing it, especially during the loan review process. BAI has put together a data sheet to help organizations develop policies that address specific data that is collected on a loan application that needs to be examined more carefully to ensure there is no discrimination against applicants. This document includes potential biases and considerations for several data points.

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Feb 29, 2024

Financial services organizations have numerous departments that collect data to help them make better decisions on how to run their departments. When examining this data, department leaders need to train their staff to ensure that correlated metrics don’t lead to biased decision making when implementing new plans. BAI has put together a data sheet to help train businesses on understanding the most common risk assessment scenarios with key metrics that are gathered that could lead to biased decision making.

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Jan 29, 2024

Is your organization prepared to update its Home Mortgage Disclosure Act (HMDA) policies in 2024? New filing requirements for HMDA were passed in 2023 that will go into effect in 2024. Given the volatility with the housing market, the...

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Jan 1, 2024

Unaligned Policies and Procedures can Leave Your Organization Exposed. BAI helps financial services organizations understand the proper way to align their policies and procedures by highlighting important steps in the creation process....

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Jan 1, 2024

Major final rules and proposals were released earlier in 2023 that will affect compliance training programs in 2024. Download to learn more about these rules and how they affect your compliance training program....

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Jan 1, 2024

BAI has put together a document on artificial intelligence policy considerations to help financial services organizations know what they need to include in their AI policies....

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Dec 1, 2023

BAI has put together a document on Commercial Real Estate considerations to help financial services organizations know what they need to include in their commercial lending policies. To learn more about how to make your organization’s commercial real estate policies more...

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Nov 30, 2023

In the current regulatory environment, it is important for financial services organizations to review their policies on fraud. BAI has put together a document on Fraud policy considerations to help financial services organizations define actions for averting fraud, address it...

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Oct 2, 2023

In BAI’s article: Qualities to Look for in Compliance eLearning, we provide several answers to questions financial services organizations should ask when assessing an eLearning provider’s content and platform, including: Does the provider have compliance expertise? Does the content feature...

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Sep 28, 2023

For a more in-depth look at the factors financial services organizations should look at when assigning courses, download “Assigning the Right Compliance Courses to the Right People” today. Learn More...

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Sep 26, 2023

In our article: Today’s Policy Management—Meeting Regulatory Expectations, and Resourcing Appropriately, we cover the key items that make a successful policy management program and highlight the key three areas policy management software helps organizations prepare for examinations, which includes: Scheduling...

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Aug 1, 2023

In early 2023, the Consumer Financial Protection Bureau (CFPB) issued a final rule amending Regulation B to implement Section 1071 of the Dodd-Frank Act, also known as the Small Business Data Collection Act. The...

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Aug 1, 2023

Is your organization prepared to update policies based on new regulatory requirements? New regulations and updates to current regulations impact compliance policies for the financial services industry. Compliance professionals are always paying attention to...

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Jun 27, 2023

Policies and procedures are crucial to organizational success. They set the tone for the organization’s risk tolerance and show the support for compliance expected of each employee in their daily activities. Unfortunately, financial services organizations often don’t meet regulators’ policy expectations....

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May 4, 2023

Microlearning continues to grow in popularity for busy professionals because of its focus and efficiency. However, financial services regulators and compliance professionals are frequently skeptical about microlearning being appropriate for compliance training. Identifying how and when to utilize microlearning for compliance training...

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May 4, 2023

Having third-party relationships is crucial for businesses to be able to achieve their goals. Given the nature of the relationship, third-party vendors typically get access to confidential information that shouldn’t be used for any other purpose than what is stated...

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Apr 13, 2023

Model risk management programs provide a framework for financial services organizations to make informed decisions on various business practices using quantitative analysis. The outcomes from these models help predict performance and mitigate risks associated with a variety of business activities....

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Apr 13, 2023

The Dodd-Frank Act was passed to help monitor and report on financial conditions after the market crash in 2008. Part of the Dodd-Frank Act requires certain businesses to perform stress tests. Financial stress testing is a forward-looking exercise that assesses...

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Apr 13, 2023

Current Expected Credit Loss (CECL) is an accounting standard issued by the Financial Accounting Standards Board (FASB). The purpose of CECL to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other...

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Mar 29, 2023

The California Privacy Rights and Enforcement Act (CPRA), which became effective on January 1, 2023, modifies multiple sections of the California Consumer Privacy Act (CCPA). The state believed the change was needed because US federal privacy laws did not provide...

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Mar 29, 2023

The Consumer Financial Protection Bureau (CFPB) is a regulatory body that was founded in 2011 and given authority to supervise and enforce federal consumer financial protection laws. Since its founding, the CFPB has been relaxed on enforcing several protection laws...