Banks always face new regulations, so they should employ regtech solutions that are able to integrate seamlessly with other technologies.

Ask any financial services leader who’s been a scout and they’ll tell you that “Be Prepared” is great advice for organizations as well as life itself.

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Last June, the Financial Accounting Standards Board (FASB) issued the final current expected credit loss (CECL) standard as a prevention technique to avoid a future financial crisis.

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Compliance with the requirements of Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations is too complex and challenging a job for a single bank department to manage.

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The past 10 years have seen an increase in the number and breadth of regulations aimed at the financial services industry, many of which stem from the financial crisis of 2007-’08.

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Wealth management firms find themselves at different stages of readiness as they work to comply with Department of Labor’s (DoL) new fiduciary rule announced in April 2016.

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The success of online marketplace lenders is motivating banks to find ways to partner with these companies, acquire them, or duplicate what they see happening in this new industry.

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Online marketplace lending is an industry rooted in the innovative culture of Silicon Valley that may soon have to find its way in the bureaucratic culture of Washington, D.

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With the recent Financial Accounting Standards Board vote to proceed and the final Accounting Standards Update now published, the Current Expected Credit Loss (CECL) standards remain top of mind for the C-suite in financial institutions.

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In April, a joint committee of federal regulators issued their long-awaited proposed rule limiting incentive-based compensation for bankers.

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Beginning in January of 2014, the Ability to Repay (ATR)/Qualified Mortgage (QM) Rule took effect, which establishes a standard to differentiate “qualifying” and “non-qualifying” residential mortgage loans.

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The concept of de-risking has become increasingly in vogue in the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) field.

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As regulatory pressures continue to mount, financial institutions are looking to their frontline staff to act effectively as their first line of defense when it comes to ensuring that the bank is acting in a compliant way with customers and discovering potential problems or bad actors in their own day-to-day operations.

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There have been two significant pieces of recent regulatory guidance that will directly impact the overall administration of your institution’s Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program.

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An increasing number of community bankers are asking themselves whether its worth the hassle – and the risk – to originate mortgages, particularly after the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the subsequent promulgation of the qualified mortgage and ability-to-repay rules.

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Should a financial institution be held fully responsible for unknowingly supporting terrorist financing when their compliance program is up to date? The answer to this question, which was posted on a LinkedIn anti-money laundering blog, would seem obvious: a robust, proactive compliance program should serve as a shield against civil or criminal enforcement actions.

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Banking and financial services organizations are built upon complex business rules that regulate many day-to-day interactions, from lending decisions to detecting fraudulent activity.

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When you’re in a highly regulated industry like banking, you’re no stranger to the sometimes overwhelming compliance requirements at the national, regional and state levels that apply to your customer interactions.

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Throughout the past two years, the Consumer Financial Protection Bureau (CFPB) has actively collected customer complaints and stored them in a publicly available database in an effort to provide increased transparency for consumers.

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The involvement of bank directors with information security awareness training has been a long-standing cornerstone for building an effective information security program.

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The Office of Thrift Supervision (OTS) may be long gone, but the institutions that it once regulated are still around and dealing with some of its legacy issues.

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