Instructor Profile

Privately owned ATMs have become a preferred choice for people who need quick cash, but their use can also increase the risk of money laundering and other financial crimes. As a result, the Financial Crimes Enforcement Network (FinCEN) has imposed certain regulations that are specific to privately owned ATMs. 

Financial institutions are required to be compliant with BSA rules and regulations. Such compliance needs to be well documented and consistent to ensure financial institutions are adequately identifying POATM customers and mitigating those risks. 

On June 22, 2022, the Financial Crimes Enforcement Network (FinCEN) issued a Statement on Bank Secrecy Act Due Diligence for independent ATM owners and operators. The purpose of the statement is to “provide clarity to banks on how to apply a risk-based approach to conducting customer due diligence (CDD) on independent Automated Teller Machine (ATM) owners or operators, consistent with the requirements set out in FinCEN’s 2016 CDD Rule.” Financial institutions’ BSA POATM program must be included in the bank’s policies and procedures, comprehensive risk assessments, and monitoring programs. 

Attending this webinar will help you stay ahead of the curve and ensure that your business is fully compliant with AML/BSA requirements. Learn all about the specific regulations that apply to privately owned ATMs and safeguard your business against financial crimes.

Due to ever changing regulatory landscape for financial institutions, rules & regulations keep changing or new ones are added, that address back-office functionality. Nacha operating rules describe and outline the path to follow. 

This payments webinar is intended to provide ODFI, RDFI, ACH Originators, and Operators with network requirements for returning ACH transactions. Participants will learn the appropriate return reason codes based on their role in the transaction and the event that results in the return (e.g., system return or consumer/business-initiated return).

On January 26, 2022, the CFPB announced a new initiative to solicit public feedback on "junk fees," which included NSF and overdraft fees. Fee oversight and regulation remain a priority for Congress and regulators.

Overdraft and late fees continue to dominate headlines in the banking industry and regulator announcements. Many financial institutions and FINTECHS have made proactive changes to their fee policies and procedures in response to competitive pressure from new industry participants and the evolving regulatory environment. Several financial institutions have revised, reduced, or eliminated their fee assessment practices in the last year.

This webinar will go over the latest CFPB announcement and discuss how financial institutions are working to mitigate these risks, as well as go over previous years of potential fee violations.

An AML model is a collection of processes that collaborate to detect potential money laundering operations and reduce overall risk. AML models now incorporate both qualitative and quantitative metrics to provide a comprehensive picture of the risk and compliance landscape.

In practice, this means that an AML model is a collection of processes and procedures that include software solutions, human expertise, and emerging technologies like artificial intelligence (AI) and machine learning (ML) to detect the telltale signs of money laundering before fraudulent transactions are completed.

This training program will discuss the history and origin of a model validation. It will also discuss the requirements by the OCC for a model validation, and what exactly a model validation should include. The session will also analyze the elements of a model validation to know what to look for in an RFP, and detail the requirements included in Final Rule 504.

This webinar will go through the revised FFIEC Bank Secrecy Act/Anti-Money Laundering Examination Manual to highlight changes and areas where banks should review their internal policies, processes and procedures for compliance. Understanding these changes will keep you prepared and updated for your next BSA/AML examination.

The Bank Secrecy Act (BSA) is a US law that fights money laundering and other financial crimes. The BSA requires businesses to keep records and file reports that are determined to have a high degree of usefulness in criminal, tax, and regulatory matters. 

Individuals and financial institutions who fail to comply with BSA requirements may face severe penalties ranging from tens of thousands to hundreds of millions or billions of dollars. For more serious offenses, prison sentences can range from 5 to 20 years.

This BSA audit training will explain how BSA audit best practices have evolved over time. It will cover the major components of an effective BSA program that the audit will focus on, as well as the specifics of each area as they relate to BSA audits.

Banking has come a long way from just opening business accounts in person. Banking today offers a plethora of business account types with diverse methods of conducting transactions. As a result, determining the authorized person to open, close, and transact business with different business entities can be daunting. 

Running a successful business isn't easy, especially in the world of banking where there are countless different types of business accounts. It can be a real challenge to figure out who has the power to open, close, and transact business on behalf of any given organization. 

Are you running your own business as a sole proprietor or steering a corporation toward success? Financial institutions should know how to open and document business bank accounts for both sole proprietorships and corporations. They must adhere to customer identification procedures, gather relevant information on signing privileges, and acquire necessary documentation for these clients.

Electronic Fund Transfers Act provides consumers with rights, liabilities, and responsibilities that offer electronic fund transfer services. Since regulation E came into existence, there have been a lot of changes due to technology, consumers, businesses and more.
 
On December 13, the Consumer Financial Protection Bureau updated its FAQs on electronic fund transfers. You must incorporate this guidance as you set your 2022 policies and procedures. We will explore all aspects of regulation E, plus discuss how this rule impacts your day-to-day responsibilities. You will learn how to comply with the Electronic Fund Transfers Act In 2022.

It is important to stay informed on the ACH payment requirements and remain in compliance with all the changes in 2022.  ACH Rules Compliance enables financial institutions to report and resolve alleged Nacha Operating Rules and Guidelines violations. During this webinar, we will review recent changes to the ACH rules and also discuss upcoming changes that might impact your organization or specifically, your role.

Understand common furnishing challenges and issues in the accuracy and integrity of credit reporting.

Frequent updates to regulatory requirements and the necessary format for providing account- and consumer-level information to the credit reporting agencies require a constant review of the changes by data furnishers. 

Whether you report to one or all four National Credit Reporting Agencies (NCRA), you must follow the Fair Credit Reporting Act (FCRA), the Fair & Accurate Credit Transaction Act (FACTA) amendment, and the new Consumer Financial Protection Bureau (CFPB) standards. It's not so much what you know as it is re-polluting the consumer's file with some key points that can cost your Financial Institution a lot of money!

This 60-minute webinar on "Metro 2, e-OSCAR, and the New FCRA/CFPB Compliance Requirements" will be useful in developing proper credit policies and procedures to ensure compliance with Federal regulations. The expert will go over E-OSCAR (Electronic-Online Solution for Complete and Accurate Reporting), a CFPB requirement, as well as the advantages and disadvantages of using the METRO or METRO-2 format and any federal requirements.

We will also discuss whether you should report to more than one NCRA and why you should run quality checks on any data you report to ensure that your trade lines appear correctly on consumer reports and that you are in compliance.

Accounts Receivable can be a tremendous drain on a company’s finances. Many times, companies rely on recovering money owed to them to pay their own existing obligations. Traditionally, consumer debt collection has been highly-regulated and many times, difficult to comply with legally. Business-to-business collection activity is far less regulated, but the best practices within consumer collections can often be very effective. 

Your company's ability to successfully collect unpaid debts can make or break your business. However, navigating the laws intended to protect those clients and customers can be challenging. If the FDCPA is violated, the debtor can sue the debt collection company as well as the individual debt collector for damages and attorney fees. 

This webinar will cover, in depth, the Fair Debt Collections Practices Act (FDCPA) and the three major areas that even “veteran” debt collectors can have trouble with. We will also cover issues surrounding collection letters, training of staff and techniques to get the debtor to “open up” to you. The goal of the webinar is to give the attendee ways to increase collection of overdue money without violating the law.