Risk and Compliance Roundup
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???In the News
Risk and compliance stories we're following
Regulators Stress Importance of Third-Party Due Diligence
Source: ABA
FDIC has issued a request for information on the 2008 guidance, and while Arquette did not signal when updated guidance would be issued, she flagged several things that banks should be thinking about in the meantime.
Agencies Announce Dollar Thresholds in Regulation Z and Regulation M for Exempt Consumer Credit and Lease Transactions?
Source: Compliance Alliance
The Federal Reserve Board and the CFPB announced the dollar thresholds used to determine whether certain consumer credit and lease transactions in 2023 are exempt from Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing).
Acting Comptroller Discusses Identifying Crypto Risks
Source: OCC
Acting Comptroller of the Currency Michael J. Hsu discussed the importance of identifying and monitoring crypto risks to protect consumers and the financial system in remarks at DC Fintech Week 2022.
FinCen Publishes Final Rule on Beneficial Ownership Requirements - a Critical Step Towards Heightened Transparency in U.S. Financial System
Source: JD Supra
On January 1, 2021, Congress passed the Corporate Transparency Act (“CTA” or the “Act”) to “better enable critical national security, intelligence and law enforcement efforts to counter money laundering, financing of terrorism, and other illicit activity.”
???FinTech Updates
Latest Financial Technology (FinTech) trends
BankiFi Partners with Axiom Bank for Improved SMB Offering
Source:?FinTech Futures
The bank will offer improved business finance tracking and management to its SMB customers via BankiFi’s embedding banking services while attracting more SMBs across the country.
White House Releases First-Ever Comprehensive Framework for Responsible Development of Digital Assets
Source: JD Supra
On Sept. 16, 2022, the White House released a comprehensive framework for responsible digital asset development and, in particular, cryptocurrency.
FSB Bids for Greater Convergence in Cyber Incident Reporting
Source: Finextra
The Financial Stability Board (FSB) has set out proposals to ensure greater convergence in cyber incident reporting.
???Executive Moves
Key risk and compliance hires
Space Coast Credit Union Has Appointed Hilary Eisbrenner as Chief Financial Officer
Source:?FICPA
Space Coast Credit Union recently announced the appointment of Hilary Eisbrenner as the chief financial officer and senior vice president.
领英推荐
AXA XL names Florian Richard as Chief Risk Officer, Americas
Source: Reinsurance News
AXA XL has announced the appointment of Florian Richard as Chief Risk Officer for the Americas and as Head of Underwriting Risk.
State Street Appoints New Global Chief Compliance Officer
Source: Business Wire
State Street Corporation announced that Yvette Hollingsworth Clark has been appointed as executive vice president and global chief compliance officer.
???What's Trending
Best of?social media
OCC Announces Conditional Approval of U.S. Bank, National Association – MUFG Union Bank, National Association Merger?
Source: OCC (Twitter)
The Office of the Comptroller of the Currency (OCC) today conditionally approved the merger of MUFG Union Bank, National Association, San Francisco, California, into U.S. Bank, National Association (U.S. Bank).
Treasury Doubles Up Enforcement Efforts Against Noncompliant Crypto Platforms
Source: JD Supra (Twitter)
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) announced yesterday that they had reached settlements for over $24 million and $29 million, respectively.
FTC Extends Comment Deadline on Commercial Surveillance, Lax Data Security Practices Initiative Exploring Possible Rules
Source: FTC (Twitter)
In August, the FTC launched the ANPR to seek public comment on whether new rules are needed to address potential harms stemming from commercial surveillance and lax data security practices.
See You at Money 20/20 USA - Be Part of FinTech's Future
Source: 360factors (LinkedIn)
We are excited to announce that our Vice President of Partnerships and Channels, Janine Kasper, MBA, will represent 360factors, Inc. at #Money2020.
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