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Compliance

With a nod to pop music, veteran John Byrne’s blog scans the anti-laundering and anti-terrorism world. John pierces silliness and inconsistency, and strongly believes in private-public partnership.

De-risking debate: new momentum toward inclusion?

“You don’t need a weatherman to know which way the wind blows”*
The rule begs this question—which is answered: "If someone is a criminal or even a terrorist, why would they have any qualms about lying when they certify? Is a drug kingpin going to lose sleep over the form that his minion executed fraudulently?"

Know your (real) customer

Don’t put off complying with new customer due diligence rules
S&P Global Market Intelligence, formerly S&P Capital IQ and SNL, is the premier provider of breaking news, financial data, and expert analysis on business sectors critical to the global economy. This article originally appeared on the SNL subscriber side of S&P Global's website.

Valley of consumer gripes

Looking for Wells Fargo-like risks in CFPB's complaint database
Wells Fargo hit on military lending

Wells Fargo hit on military lending

Must pay restitution and penalties for violating Servicemembers Civil Relief Act.
With a nod to pop music, veteran John Byrne’s blog scans the anti-laundering and anti-terrorism world. John pierces silliness and inconsistency, and strongly believes in private-public partnership.

“No One Listen(s)”*

Cooperation still spotty, but industry keeps sharing ideas
LendUp says its early mistakes weren't matter of dishonesty, but more being newbies at lending. Now the lender has a ten-member compliance team.

Fintech lender charged with “failure to deliver”

In consent order, CFPB alleges LendUp didn’t keep its promises to consumers
Bank boards must close up the gaps to oversee compliance appropriately.

Compliance risk rises to top of board agenda

In wake of Wells affair, directors must reconsider what “risk appetite” really means
Bureau sues five Arizona auto title lenders in the wake of state's banning of payday lending, and resulting boom in auto title credit.

CFPB sues car title lenders

Arizona-centered case part of bureau’s push against alleged predatory lenders
No matter which candidate you'll be voting for, if you're a community banker you'll want to read Jeff's take on your future—maybe even forward it to your candidate.

Community banking’s “Dear Donald and Hillary”

What would you tell the candidates? Jeff Gerrish sends 5 key messages
Based on a long compliance career, expert Nancy Derr-Castiglione assesses the latest wrinkles on consumer protection.

Seeking common sense compensation

Return to the basics to make sure your program doesn’t allow staff to cross the line
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