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CFPB and Justice Department Issue Joint Statement Cautioning that Financial Institutions May Not Use Immigration Status to Illegally Discriminate Against Credit Applicants

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) and Justice Department today issued a joint statement that reminds financial institutions that all credit applicants are protected from discrimination on the basis of their national origin, race, and other characteristics covered by the Equal Credit Opportunity Act, regardless of their immigration status. (..)

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Practical Lessons Learned Regarding the Bank Secrecy Act and Anti-Money Laundering for Financial Institutions

Troutman Sanders

Join Troutman Pepper Partner Chris Willis and fellow Partner Matthew Orso as they discuss the Bank Secrecy Act, anti-money laundering, and countering the financing of terrorism rules, as they pertain to financial institutions defined by FinCEN.

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CFPB Explores AI’s Impact on Consumers’ Relationships With Financial Institutions

Collection Industry News

A key pillar of the relationship between consumers and their financial institutions is effective customer service. We consumers expect that the financial institutions we trust to hold our money will provide us with prompt and responsive assistance when we ask for it.

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FTC Amends “Safeguards Rule” for Covered Financial Institutions

Troutman Sanders

On October 27, the Federal Trade Commission (FTC) announced a final rule (Final Rule), amending the Standards for Safeguarding Customer Information (Safeguards Rule) under the Gramm-Leach-Bliley Act (GLBA) as it applies to covered financial institutions. Expanded Definition of “Financial Institution”.

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How to Attract Multiple Generations to Open New Accounts and Apply for Loans

This entertaining and informative eBook will help your financial institution uncover the best practices when it comes to appealing to mass audiences. Understanding these attitudes and using them to inform marketing messages enables community banks, regional banks and credit unions to better serve their customers.

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FinCEN Deputizes Financial Institutions in Hunt for Environmental Crimes

Burr Forman

The Financial Crimes Enforcement Network (“FinCEN”) unit of the U.S. Department of the Treasury called this week for the nation’s financial institutions to be on the lookout for money flows indicative of environmental crimes. Earlier in the week, FinCEN convened a virtual exchange on the issue.

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What Financial Institutions Should Know about a Tax Levy on a Customers Bank Account

Jimerson Firm

Financial institutions are often required to make tough decisions when they receive the daunting Form 668–A, “Notice of Levy” from the IRS concerning a delinquent taxpayer’s bank account. Financial Institutions Tax Levy Obligations and Liability Exposure. By Austin Calhoun, Esq. and Joseph Luna, Esq. What is a Tax Levy?

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When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes. With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Case Study Franklin Mint)

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The Anti-Money Laundering Act of 2020: Initial Catalysts, Current Implications, and Future Impacts

Speaker: Elizabeth "Paige" Baumann, Founder and CEO of Paige Baumann Advisory, LLC

Treasury’s Financial Crimes Enforcement Network (FinCEN) pursuant to the AMLA so far Anticipated impacts of the AMLA to financial institutions required to have AML programs and other entities Save your seat and register today! March 22nd, 2023 at 9:30 am PDT, 12:30 pm EDT, 4:30 pm GMT