Risk and Compliance Roundup
360factors, Inc.
Accelerate profitability, innovation and productivity by predicting risks and streamlining compliance
?? In the News
Risk and Compliance Stories We're Following
Banking Sector, Regulators Announce Joint Effort to Address AI Risks
Source:?ABA
Banking industry and Treasury Department representatives came together today at the American Bankers Association’s headquarters in Washington, D.C., to announce the next steps in a public-private collaboration to combat artificial intelligence-related fraud and cybersecurity threats to the financial system.
OCC Interest Rate Risk Statistic Report Released
Source:?Bankers Online
The report presents interest rate risk data gathered during examinations of OCC-supervised midsize and community banks and federal savings associations.?
U.S. Treasury’s Financial Crimes Network Warns of Elder Exploitation
Source:?Housingwire
The Financial Crimes Enforcement Network (FinCEN), a division of the U.S. Department of the Treasury, is sounding the alarm over challenges faced by elder financial exploitation (EFE).
Investment Banking Bounceback Powers Big U.S. Lenders
Source:?The Wall Street Journal
A Top banks post better-than-expected results, helped by strong consumer spending and flurry of Wall Street activity.
?? FinTech Updates
Latest Financial Technology (FinTech) Trends
15 Questions Fintechs Should Ask Potential Bank Partners in Due Diligence
Source:?JD Supra
Out of recent banking agency focus on fintech-bank partnership arrangements, we’ve had a number of fintech clients inquire about the questions they should ask potential bank partners in due diligence. This Fintech Flash features a number of questions we recommend.
US, Europe Lock Arms on Payments Regulation
Source:?Banking Dive
U.S. and European regulators have joined forces to monitor digital payment concerns, including those related to buy now, pay later financing and big tech market participation.
US States Lead the Charge on AI Regulation Amid Industry Pushback
Source:?FinTech Global
State lawmakers from across the US, including Colorado, Connecticut, and Texas, are spearheading major legislative efforts to regulate AI.
???? Executive Moves
Key Risk and Compliance Hires
Berkshire Hills Bancorp Promotes Ashlee Flores to Executive Vice President, Chief Compliance Officer
Source:?The Globe and Mail
Berkshire Hills Bancorp is excited to announce that Ashlee Flores, an experienced industry and Berkshire veteran was promoted to EVP, Chief Compliance Officer.
Financial Gravity Welcomes Kaili Winters back to Financial Gravity as our Chief Compliance Officer and Strategy Implementation Lead
Source:?Yahoo Finance
Kaili Winters brings a wealth of experience in the financial services industry to Financial Gravity. She specializes in helping ensure regulatory adherence and risk management.?
领英推荐
Patriot National Bancorp Names Acting Risk, Compliance Chief
Source:?Compliance Week
Patriot National Bancorp disclosed Joshua Oliver will be acting chief risk and compliance officer upon the resignation of Judith Corprew.
?? What's Trending
Best of Social Media
Acting Comptroller Discusses Digital Assets
Source:?OCC (Twitter)
Acting Comptroller Michael J. Hsu will participate in a keynote discussion on digital assets, including the tokenization of real-world assets and liabilities, as well as consumer protection, compliance and supervision at the Financial Times' Crypto and Digital Assets Summit.?
CFPB Updates Supervision Designation Procedures
Source:?CFPB (Twitter)
The Consumer Financial Protection Bureau (CFPB) issued a procedural rule to update how the agency designates a nonbank for supervision. The updates will streamline the designation proceedings for both the CFPB and nonbanks.
NCUA Board Approves Advance Notice of Proposed Rulemaking on Records Retention
Source:?NCUA (Twitter)
NCUA Board held its third open meeting of 2024 and unanimously approved an advance notice of proposed rulemaking (Opens new window) that solicits stakeholder comments on ways the agency can improve and update its records preservation program regulations and accompanying guidelines in Part 749 and other parts of the NCUA’s rules and regulations.
4 Critical Practices to Enhance Compliance Risk Management Framework in the Insurance Sector
Source:?360factors (LinkedIn)
This blog aims to explore these facets, offering insights into how insurance companies can build an effective compliance risk management framework with efficacy and foresight.
If you would like to submit an article or tip for the risk and compliance community, you can email?[email protected] ?with your article for consideration.?
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