Mar 28

Mar 28 VIDEO: Wrapping the FDIC Digital Sign on Mobile

In this Compliance Clip (video), Adam discusses the essential guidelines for displaying the FDIC digital sign on mobile applications. He explores the challenges faced by financial institutions in ensuring clear and compliant visibility of the FDIC sign on devices with varying screen resolutions. A transcript of this video is now available.

Mar 28
Mar 28 Board Training Programs Available

Adam Witmer

If you are considering an alternative approach to compliance training for your board or senior management team, we may have a solution for you. The seven programs below are specifically designed for directors, as we use a bottom-line, executive summary-type approach. These virtual training programs for directors can all be completed in 30 minutes or less. Just click on the title of the program to learn more.

Mar 27
Mar 27 CFPB Seeks to Overturn Case Against Townstone

Adam Witmer

Fair Lending, Regulatory Update

On March 26, 2025, the CFPB announced that it is seeking to vacate the settlement the CFPB extracted from Townstone back in 2024 after suing the nonbank retail-mortgage creditor for discriminatory lending practices and redlining. In its press release, the CFPB stated that after a thorough review, the Bureau is seeking to “make Townstone whole by returning the six-figure penalty they were forced to pay.”

Mar 25
Mar 25 FinCEN Publishes FAQs on the Southwest Border GTO

Adam Witmer

Regulatory Update, BSA

On March 24, 2025, FinCEN issued a set of Frequently Asked Questions for the Geographic Targeting Order involving certain money services businesses in California and Texas on the Southwest Border. This is in relation to the March 11 GTO requiring all money services businesses located in 30 ZIP Codes across California and Texas to file additional Currency Transaction Reports (CTRs) with FinCEN for transactions above $200 but not more than $10,000.

Mar 24
Mar 24 FinCEN Removes BOI Reporting Requirements for U.S. Entities

Adam Witmer

BSA, Regulatory Update

On March 21, 2025, FinCEN issued an interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act. Foreign entities that meet the new definition of a “reporting company” and do not qualify for an exemption must report their BOI to FinCEN under new deadlines.

Mar 23
Mar 23 ON SALE: Appraisal Compliance Requirements Class

Adam Witmer

Our Appraisal Compliance Requirements class is currently on sale in our store. This program is designed to cover the key compliance elements related to appraisals and evaluations. Our Appraisal Compliance Requirements program includes a quick review of the appraisal requirements found in Regulation B & Regulation Z, a review of the key elements of the interagency guidance on appraisal standards focusing on the compliance elements, and a full section on appraisal bias. The last section also includes a quick discussion on fair lending and provides a list of best practices financial institutions can take to mitigate fair lending risk as it relates to appraisals and evaluations. To enroll in our Appraisal Compliance Requirements class, go to www.compliancecohort.com/appraisal-compliance-requirements.

Mar 21

Mar 21 VIDEO: Authorized but Fraudulent Debit Card Transactions

Adam Witmer

Regulation E

In this Compliance Clip (video), Adam explains the nuances of authorized but fraudulent debit card transactions. He discusses the distinctions in liability for consumers when a scammer initiates a transaction versus when the consumer unknowingly authorizes it.

Mar 21
Mar 21 WEBINAR: Appraisal Compliance Requirements

Adam Witmer

Our Appraisal Compliance Requirements class is currently on sale in our store. This program is designed to cover the key compliance elements related to appraisals and evaluations. Our Appraisal Compliance Requirements program includes a quick review of the appraisal requirements found in Regulation B & Regulation Z, a review of the key elements of the interagency guidance on appraisal standards focusing on the compliance elements, and a full section on appraisal bias. The last section also includes a quick discussion on fair lending and provides a list of best practices financial institutions can take to mitigate fair lending risk as it relates to appraisals and evaluations. To enroll in our Appraisal Compliance Requirements class, go to www.compliancecohort.com/appraisal-compliance-requirements.

Mar 18
Mar 18 FinCEN Issues GTO Imposing Additional Reporting Requirements Along the Southwest Border

Adam Witmer

Regulatory Update, BSA

On March 11, 2025, FinCEN issued a notice of a Geographic Targeting Order requiring certain money services businesses along the southwest border of the United States to report and retain records of transactions in currency of more than $200 but not more than $10,000, and to verify the identity of persons presenting such transactions. The order will take effect starting April 14, 2025 and ends on September 9, 2025.

Mar 17
Mar 17 OCC Reaffirms That Certain Crypto-Asset Activities Are Permissible

Adam Witmer

Regulatory Update

On March 7, 2025, the OCC issued a letter to reaffirm that a range of cryptocurrency activities are permissible in the federal banking system. Through Interpretive Letter 1183, the OCC confirmed that crypto-asset custody, certain stablecoin activities, and participation in independent node verification networks such as distributed ledger are permissible for national banks and federal savings associations.