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Record Cryptocurrency Seizure

If you’ve been paying attention, crypto/virtual currency has been coming up more and more.  Not only are financial institutions starting to see their customers take part in this but banks will also likely be faced with whether they want to get involved in...

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Truth in Savings: Change in Terms

Be sure to JOIN US for our webinar, “Truth in Savings Act”.  There are times when you need to (or just want to) change the terms of your deposit accounts.  Maybe you want to implement a new fee or change some of the other terms required to be disclosed in the Truth in...

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TRID Loan Estimate: Absorbed vs. Offset Costs

When it comes to itemizing charges on the Loan Estimate, the TRID Guidelines indicate there is a difference in how you disclose charges that are absorbed by the bank versus charges that are offset by the bank.  Your bank may even do both depending on the...

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CFPB Requests Information on “Junk Fees”

CFPB Requests Information on "Junk Fees" The CFPB recently requested comment from the public on what it deems to be “exploitative junk fees” and their impact.  It then followed up with a blog on “The hidden cost of junk fees” which further encourages people to...

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BSA/AML & Customer Risk Profiles

Tellers and Customer Service Representatives play a crucial role when it comes to developing a customer’s risk profile.  They are on the frontline working directly with the customer which gives them the ability to ask questions.  Knowing what to ask and when are vital...

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Escrow Account Annual Statements

JOIN US for our webinar, “All About Escrowing & Escrow Accounts”. Escrow Training If you maintain escrow accounts subject to Section 1024.17 of RESPA, you are probably aware that you are required to provide an annual escrow statement to borrowers.  Some banks...

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CFPB Calls Out Religious Discrimination

In December, the CFPB issued its Fall 2021 Supervisory Highlights which gives us a glimpse at noteworthy items identified in exams from January - June 2021.  One area that caught our attention was regarding religious discrimination. CFPB Calls Out Religious...

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Your BSA/AML Program & Crypto/Virtual Currency

With the rapid growth of cryptocurrencies and other virtual assets, regulators are working to update the requirements for financial institutions to help mitigate the associated risks.  Your BSA/AML Program will need to evolve with these changes, and we can help...

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