Risk and Compliance Roundup
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???In the News
Risk and compliance stories we're following
ABA, Associations: Regulate Stablecoins Like Banks, Credit Unions
Source: ABA
In a joint letter to the leaders of the House Financial Services Committee, the associations raised concerns about proposed legislation from Chairman Patrick McHenry (R-N.C.) to regulate stablecoin issuers.
Banks’ Restatements of Uninsured Deposits Jump Fourfold?
Source: Banking Dive
The Federal Deposit Insurance Corp. warned Monday that it is aware some financial institutions are not correctly reporting their estimated uninsured deposits.
Central Bancshares to Acquire SENB
Source: Muscatine Journal
Central Bancshares Inc. of Muscatine recently announced an agreement to acquire McLaughlin Holding Company and merge CBI Bank and Trust with Southeast National Bank (SENB).
California Privacy Reg Delay Offers Little More Than Short Reprieve
Source: Compliance Week
Many businesses are breathing a sigh of relief following a court ruling that delayed enforcement of certain provisions of the California Privacy Rights Act (CPRA), but companies should not rest on their laurels, according to experts.
???FinTech Updates
Latest Financial Technology (FinTech) trends
Senate Bill Would Rein in SBA's FinTech Lending Plan
Source:?Banking Dive
The legislation, which heads to the full Senate, is in response to the agency’s decision to end a 40-year moratorium on admitting new nonbank entrants to its 7(a) loan program.
Federal Reserve Announces That Its New System for Instant Payments, The FedNow Service, Is Now Live
Source: Federal Reserve
The Federal Reserve on Thursday announced that its new system for instant payments, the FedNow Service, is now live. Banks and credit unions of all sizes can sign up and use this tool to instantly transfer money for their customers, any time of the day, on any day of the year.
Stanford Federal Credit Union Overhauls Digital Engagement Through Agent IQ Partnership
Source: FinTech Futures
Silicon Valley's Stanford Federal Credit Union has partnered with digital customer engagement solutions provider Agent IQ as it looks to cultivate a "more digitally consistent" banking experience for its members.
???Executive Moves
Key risk and compliance hires
Citizens Bank Promotes Karen Shaw
Source:?Arkansas Money and Politics
Batesville-based Citizens Bank has announced the promotion of Karen Shaw to the position of chief risk officer. Formerly serving as Chief Financial Officer for the past ten years, Shaw brings a wealth of experience and audit expertise to the new role.
Bramshill Names Nicolas Amato Chief Risk Officer
Source: PR Newswire
Bramshill Investments, an award-winning alternative asset management firm, has named Nicolas ("Nico") Amato, CFA, CAIA as Chief Risk Officer.
领英推荐
RenaissanceRe Names Robin Lang as Permanent Group Chief Risk Officer
Source: Reinsurance News
RenaissanceRe Holdings Ltd. has announced the appointment of Robin Lang as the Group’s Chief Risk Officer on a permanent basis starting September 1, 2023.
???What's Trending
Best of?social media
New Senate Crypto Bill Would Limit SEC Regulatory Role in Favor of CFTC?
Source: JD Supra (Twitter)
A bipartisan bill introduced in the U.S. Senate last week seeks "to bring crypto assets within the regulatory perimeter" by granting oversight responsibility to the Commodity Futures Trading Commission (CFTC) for most forms of cryptocurrency.
Senior Deputy Comptroller for Large Bank Supervision Testifies on Climate-Related Financial Risks
Source: OCC (LinkedIn)
OCC Senior Deputy Comptroller for Large Bank Supervision Greg Coleman today testified before the U.S. House of Representatives' Committee on Financial Services' Subcommittee on Financial Institutions and Monetary Policy on the agency's supervision of climate-related financial risks.
Estimated Uninsured Deposits Reporting Expectations
Source: FDIC (Twitter)
The FDIC observed that some insured depository institutions (IDIs) are not reporting estimated uninsured deposits in accordance with the instructions to the Consolidated Reports of Condition and Income (Call Report).
Get to Know The Six Leading Enterprise Risk Management Trends in 2023
Source: 360factors (LinkedIn)
Read the blog post to discover why organizations progressively employ integrated GRC software-based risk management solutions to ease risk management activities.
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