Oct. 2, 2013
BankNews e-Digest header
Money Laundering on the Front Burner
By Harold P. Reichwald 

With the bulk of the banking industry's credit problems resolved or at least more manageable than in the recent past, the regulators appear to be on a new warpath. Over the last year, they have sent strong signals to the banking community that Bank Secrecy Act and anti-money laundering issues have been moved to the forefront of regulatory concerns. Read more>> 

ICBA: Hold Wall Street Bad Actors Personally Accountable
"Unlike community bankers, who are held publicly and personally accountable by their regulators when things go wrong, not one senior Wall Street executive or board member has been held personally responsible for the 2008-10 financial collapse and the repeated scandals that have followed," said Independent Community Bankers of America President Cam Fine in a statement.  Read more>>
FDIC Announces Supervisory Approach to Payment Processing Relationships With Merchant Customers That Engage in Higher-Risk Activities
The FDIC is clarifying its policy and supervisory approach related to facilitating payment processing services directly, or indirectly through a third party, for merchant customers engaged in higher-risk activities. Read more>>
Tier 1-Mo. Bank

OCC Assesses Penalty Against Saddle River Valley Bank for BSA Violations
The Office of the Comptroller of the Currency has announced a $4.1 million civil money penalty against Saddle River Valley Bank, Montclair, N.J., for violations of the Bank Secrecy Act. Read more>>
CFPB to Focus on the Four Ds
In a speech given at the American Banker Regulatory Symposium on Sept. 24, 2013, Consumer Financial Protection Bureau Director Richard Cordray said going forward the organization will address what he has come to call the "Four Ds" that plague consumers: deception, debt traps, dead ends and discrimination. Read more>>
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Innovative Ideas for Small Business Loans
null Date: Oct. 9
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Does your borrower's number of Facebook friends indicate anything about his or her repayment risk? Who underwrites business loans using Yelp? How much data can be accessed that provides evidence of whether a small business can successfully manage growth capital?

Developing a Risk-based Compliance Audit Program
Date: Oct. 10
Click here for more information or to register.

This fast-paced seminar provides practical guidance to develop and maintain a risk-based compliance audit program. The CFPB has issued a "Readiness Questionnaire" for the sweeping mortgage changes in 2014. Whether your bank is a small community bank or a large regional institution, this seminar will review the components of an effective audit program.

Click here for other featured webinars and audio conferences. 

ABA's Credit Card Market Monitor: Cardholders Paying Less to Use Credit Cards
he amount cardholders are paying to use credit cards is falling as consumers change their behaviors and the risk profile of credit lines shifts away from higher-risk accounts, according to the first edition of the ABA Credit Card Market Monitor, a new quarterly report that highlights key credit card market trends and economic factors affecting consumers. Read more>>
OCC: Community Banks in Nine Southern States Show Improving Performance
Loan growth remains mixed across the Southern District. The western region of the district is reporting the strongest loan growth rate at 5 percent but the remainder of the district is reporting little or no loan growth. Loan activity in the western region is fueled by banks located in areas experiencing economic growth resulting from increased oil and gas activity. Read more>>

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