Risk and Compliance Roundup
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Accelerate profitability, innovation and productivity by predicting risks and streamlining compliance
?? In the News
Risk and Compliance Stories We're Following
Gartner Says Enterprise Risk Management Leaders are Challenged with a Lack of Pricing Transparency in GRC Tools
Source:?Gartner
Due to widely varying government, risk, and compliance (GRC) tool pricing, enterprise risk management (ERM) leaders must understand four different pricing-tier categories of GRC solutions and apply a scoping framework to further estimate likely costs ahead of vendor selection, according to Gartner Inc.
ABA Urges Regulator to Require More Transparency in Bank Acquisitions by Credit Unions
Source:?ABA
Before credit unions acquire banks, they should be required to receive membership approval, disclose financial terms, and demonstrate how bank acquisitions affect consumers, communities, and taxpayers.
CFPB Issues 2025 Beta Platform for HMDA Data
Source:?Bankers Online
The CFPB has posted its beta release of the HMDA Platform for data that will be collected in 2025.?
Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Milton
Source:?NCUA
The agencies encourage institutions operating in the affected areas to meet the financial services needs of their communities.
???FinTech Updates
Latest Financial Technology (FinTech) Trends
FinTech in Brief: Win Some, Lose Some: Recent Developments in the Regulation of Private Funds
Source:?JD Supra
The new rules would have significantly increased regulation of private funds and private fund advisers.
New York DFS Unveils AI Cybersecurity Guidance to Protect Financial Sector
Source:?FinTech Global
The New York State DFS has announced a fresh set of guidelines intended to bolster cybersecurity measures against threats posed by AI.?
Navigating the Fintech Frontier: Essential Risk Metrics Every Fintech Leader Must Know
Source:?The FinTech Times
As digital financial services continue to disrupt traditional banking models, fintech companies are increasingly operating across borders, facing complex regional regulations and diverse market conditions.
???Executive Moves
Key Risk and Compliance Hires
Maine State Credit Union Appoints Neal Blake as Chief Financial Officer to Drive Future Growth
Source:?Maine State CU
Maine State Credit Union is excited to announce the appointment of Neal Blake as Senior Vice President and Chief Financial Officer (CFO).
Hills Bank Appoints Lisa Shileny as President and CEO
Source:?Corridor Business
The Board of Directors of Hills Bancorporation and Hills Bank and Trust Company have appointed Lisa Shileny as president and CEO of both organizations.
Savers Bank Appoints New CFO
Source:?WB Journal
Savers Bank has named Gregory Vilardo as the Southbridge-based financial institution’s new vice president and chief financial officer.
???What's Trending
Best of Social Media
FDIC Board of Directors Releases Semiannual Update on Deposit Insurance Fund Restoration Plan
Source:?FDIC (Twitter)
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today released the latest semiannual update on the Restoration Plan for the agency’s Deposit Insurance Fund (DIF). FDIC staff projects that the reserve ratio remains on track to reach the statutory minimum of 1.35 percent ahead of the statutory deadline of September 30, 2028.
Department of Labor and Consumer Financial Protection Bureau Joint Field Hearing
Source:?CFPB (Twitter)
On October 24, 2024, the U.S. Department of Labor (USDOL) and the Consumer Financial Protection Bureau (CFPB) invite you to attend a joint hearing in Okemos, MI.
How Banks Can Measure and Support Customer Financial Health Outcomes
Source:?OCC (Twitter)
The OCC encourages national banks and federal savings associations to support consumers' financial health in a safe, sound, and fair manner.
Predict360 Enterprise Risk Management Software
Source:?360factors (LinkedIn)
Predict360 Risk Management is a robust software solution that empowers financial industry stakeholders to manage and analyze risk data efficiently.
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.?
SourceForge Podcast
Introducing Lumify360: SourceForge Podcast #11 with Carl McCauley, CEO of 360factors
Watch SourceForge’s podcast, where 360factors CEO Carl McCauley introduces Lumify360, an innovative AI-powered platform that enriches KPIs and KRIs for mid-market organizations.
Complimentary Webinar
How Generative AI Can Be Used in Banking Risk and Compliance
The webinar touches on areas where Generative AI can be used within banks and discusses areas that may be more problematic in using Generative AI currently due to regulatory concerns or modeling requirements.