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Compliance

A collection of 2 posts
A Guide to 1071 Voluntary Reporting
Risk Management

A Guide to 1071 Voluntary Reporting

One of the many complex aspects of the Consumer Financial Protection Bureau (CFPB)’s rule implementing section 1071 of the Dodd Frank Act is the option for voluntary reporting. What does this option look like for covered financial institutions? Why might a lender want to participate? What are the pros
31 Oct 2024 5 min read
Is There a New Pillar of BSA Compliance on The Horizon?
Risk Management

Is There a New Pillar of BSA Compliance on The Horizon?

Back in 1970, Congress passed the Bank Secrecy Act (BSA), a law which required financial institutions to work with the government to eliminate money laundering and fraud. Now, over 50 years later, BSA has endured multiple rules and regulations changes, which have resulted in what is called the “five pillars”
24 Oct 2024 4 min read
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