Anastasia Dokuchaeva
May 26, 2021

Communicating regulatory changes to remote financial services employees can be challenging. New technology tools can help.

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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