Special Release

fraud being stopped

FinCEN Guidance on Medical Scams and COVID-19

As we continue to adjust with the evolving pandemic, FinCEN published two documents to keep awareness high. The May 18, 2020 Notice provides a current update to meet the various BSA reporting, recordkeeping and monitoring requirements.  Here are a few of the key points: BSA Reporting Requirements – As noted in TCA’s earlier article BSA

FinCEN Guidance on Medical Scams and COVID-19 Read More »

bank, wire transfer, online

Big Increase to Foreign Remittance Transfer Threshold

The CFPB released a Regulation E Update regarding remittance transfers and increasing the safe harbor threshold from 100 to 500 transactions per calendar year, effective July 21, 2020. Regulation E requires remittance transfer providers to provide customers with certain disclosures and establishes cancellation and error resolution procedures for these foreign transactions. Also, the update memorialized

Big Increase to Foreign Remittance Transfer Threshold Read More »

handshake deal

HMDA Reporting Threshold Changes for 2020 and Beyond

On April 16, 2020, the CFPB released a final rule affecting the thresholds for HMDA reporting. To assist with understanding the transition, the Bureau has published new resources and updated some existing ones: Unofficial, informal redline to reflect changes to Regulation C Executive Summary HMDA Rule Key Dates Timeline 2020-2022 HMDA institutional coverage chart, effective

HMDA Reporting Threshold Changes for 2020 and Beyond Read More »

house under magnifying glass

Agencies Release Interim Final Rule on Deferral of Appraisals/Evaluations

On April 14, 2020 the OCC, FRB and FDIC issued an interim final rule effective April 17, 2020 until December 31, 2020 (comments due June 1, 2020) which will amend the agencies’ regulations requiring appraisals of real estate for certain transactions. (NOTE: This rule was finalized on October 16, 2020.) Under the interim final rule,

Agencies Release Interim Final Rule on Deferral of Appraisals/Evaluations Read More »

Do You Need Compliance Help?

We’re here to review your current compliance strategy and help you find A Better Way to manage risk.

Phone

800-934-REGS

Email for Non-Confidential Information Only

[email protected]

Office Location

2021 Midwest Road, Suite 200,
Oak Brook, IL 60523

Endorsed By