Compliance Pathways

Navigating the complex world of legal and regulatory compliance can be challenging and time-consuming for your bank. The Compliance Pathways team is here to provide resources to help your team focus on the day-to-day tasks that require their attention. For information on Compliance Pathways, or to schedule a live demonstration with our team, please contact [email protected].

Our next Compliance Conversation is just around the corner! Join our Compliance Pathways and Compliance Select (CS) teams at 12 pm on November 21st as we discuss the latest regulatory hot topics. If you haven't registered yet and would like to, please e-mail [email protected].

Compliance Pathways will be closed today as we honor the brave men and women who have served to protect our nation and our freedom. We are forever grateful for your service. #veteransday #thankaveteran #landofthefree #freedomisnotfree

Last call! The comment period on the CFPB's proposed amendment to certain remittance transfer disclosure requirements and model forms under the Electronic Funds Act and Regulation E closes today, November 4, 2024. The CFPB is seeking information on whether the proposed amendment would provide helpful information to remittance senders, and any potential impacts the changes may have on consumers, remittance transfer providers, and state licensing agencies. Don't miss your opportunity to weigh in!

Wishing you all a happy and safe Halloween!

Don't miss it! The comment period for information on bank-fintech arrangements involving banking products and services distributed to consumers and businesses is closing soon. This request solicits input on the nature of bank-fintech arrangements, effective risk management practices regarding bank-fintech arrangements and the implications of such arrangements, including whether enhancements to existing supervisory guidance may be helpful in addressing risks associated with these arrangements. Comments can be directed to the OCC, FDIC, or Board and must be received by October 30, 2024.

This morning, the CFPB issued the final rule to implement Section 1033 of the Dodd-Frank Act regarding personal financial data rights. The final rule requires banks, credit unions, and other financial service providers to make consumers’ data available upon request to consumers and authorized third parties in a secure and reliable manner, and defines obligations for third parties accessing consumers’ data, including important privacy protections. Stay tuned to Compliance Pathways for resources and additional information.

The FDIC extended the compliance date for amendments to Part 328, Subpart A of its regulations to modernize the rules governing the use of the official FDIC sign and insured depository institutions' advertising statements.?The initial compliance date set forth in the final rule issued last December was January 1, 2025, but has been pushed back to May 1, 2025. The compliance date for amendments to Part 328, Subpart B, relating to misrepresentations of deposit insurance, is still set for January 1, 2025.

Happy Boss's Day to Christopher Williston VI, CAE, Apryl Salazar CRCM, CAFP, CCBCO, CBAP, and Kelly Goulart! Your leadership is the driving force behind our team's success and we can't thank you enough for your guidance and support.

Compliance Pathways will be closed today in observance of Columbus Day and Indigenous Peoples' Day. Our team will be back tomorrow morning to resume normal hours. Enjoy your day!