June’s Regulatory Recap is now available here. Let us know if we can help in any way. Please be advised that CSG provides financial services compliance audit and consulting services to our clients. The services that we provide include certain tasks that may be characterized as “law-related services” under Rule 5.7 of the Rules of Professional Conduct governing… Read More »
We have reprinted the Q&As from the agencies (OCC, FRB, FDIC, FCA, & NCUA) proposed revamping of the Interagency Questions and Answers Regarding Flood Insurance. (We did not include the footnotes, but they are available on the linked document.) The questions and answers are broken down by: Determining the Applicability of Flood Insurance Requirements for… Read More »
May’s Regulatory Recap is now available here. Let us know if we can help in any way. Please be advised that CSG provides financial services compliance audit and consulting services to our clients. The services that we provide include certain tasks that may be characterized as “law-related services” under Rule 5.7 of the Rules of… Read More »
With the rampant fraud associated with the pandemic, the institution’s compliance staff may be considered the unsung heroes of the institution. Along with protecting the institution from steep fines and regulatory violations, the Bank Secrecy Act (BSA) staff protect the institution and customers by identifying and stopping illicit activity. Even with the stay at home… Read More »
April’s Regulatory Recap is now available here. Let us know if we can help in any way. Please be advised that CSG provides financial services compliance audit and consulting services to our clients. The services that we provide include certain tasks that may be characterized as “law-related services” under Rule 5.7 of the Rules of… Read More »
On April 23, 2020, in an Interim Final Rule, the Federal Reserve dropped the convenient transfer limitations from savings deposit accounts of six per month, and now allows unlimited transfers from “savings deposits.” The effective date of the Rule will be 60 days from the date of publication in the Federal Register, but the applicability… Read More »
March’s Regulatory Recap is now available here. Let us know if we can help in any way. Please be advised that CSG provides financial services compliance audit and consulting services to our clients. The services that we provide include certain tasks that may be characterized as “law-related services” under Rule 5.7 of the Rules of… Read More »
In February, the CFPB released its 21st Supervisory Highlights Report. This report covered findings identified in examinations conducted by the CFPB between April 2019 and August 2019. Areas included in the report include mortgage servicing, payday lending (including general Regulation Z requirements), debt collection, and student loan servicing. Mortgage Servicing Highlights Regulation X violations discussed… Read More »
January’s Regulatory Recap is now available here. Let us know if you have questions, or if we can be of any service. Law-Related Services Disclaimer. Please be advised, CSG provides financial services compliance audit and consulting services to our clients. The services that we provide include certain tasks that may be characterized as “law-related services”… Read More »
The NCUA released Letter to Credit Unions 20-CU-01, which highlights their supervisory and examination focus for 2020. Included in the supervisory priorities are: Bank Secrecy Act / Anti-Money Laundering (BSA/AML) This is not a new priority and is focused on every year. Emphasis for 2020 will be on customer due diligence and beneficial ownership requirements,… Read More »
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