Archive for February, 2009
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Feb 24, 2009
No CommentsReg Z and Reg C Changes Take Effect October 1: Banks Prepare Now for Operational Impact
By Amy Downey Banks are acting now to ready systems and update policies and procedures in advance of the October 1, 2009 effective date. October 1 will mark a significant change in the Regulation C reportable rate spread and the addition of a new lower predatory lending threshold under Regulation Z (Higher Priced mortgages). In...
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Feb 17, 2009
1 CommentOutsourcing BSA/AML Compliance
By Kevin Byrne I read a recent article last week in which the Satyam Computer Services LTD scandal was discussed. All in all, this story speaks to the very root of BSA/AML outsourcing: Know Your Customer (or Know Your Vendor in this instance). Financial Institutions (FIs) are burdened more and more everyday with increasing BSA/AML...
