The Federal Reserve Bank (“FRB”) and the Federal Deposit Insurance Corporation (“FDIC”) have recently released the Consumer Compliance Outlook and the Supervisory Insights, respectively.
The FRB s Consumer Compliance Outlook addresses the following topics:
- Vendor risk management focuses on the types of risks to be considered, examples of compliance deficiencies, and best practices for vendor risk management programs.
- Error resolution procedures and consumer liability limits for unauthorized electronic fund transfers reviews the provisions of the Electronic Funds Transfer Act.
- Home Mortgage Disclosure Act (“HMDA”) Data Collection and Reporting answers frequently asked questions posed to examiners by financial institutions related to HMDA.
The FDIC s Supervisory Insights addresses the following topics:
- Mobile payments describes the trends in mobile payments and best practices in managing risks associated with this technology.
- High-Yield Checking Accounts discusses how the promotion of these types of accounts can be deceptive.
To discuss your institution s compliance management function or the compliance topics mentioned above, contact Mike Shamblin at (800) 270-9629.
Learn more about PYA’s Financial Institutions Advisory Services and Financial Institutions Audits & Accounting Services
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