Risk

  • January 4, 2021
    Dear Acting Comptroller Brooks, On behalf of the Consumer Bankers Association (“CBA”), I write in response to the Office of the Comptroller of the Currency’s (“OCC”) Notice of Proposed Rulemaking (“Proposal”) to ensure that national banks and Federal savings association offer and provide fair access to financial services. CBA believes the OCC should reconsider the Proposal and pursue a more...
  • December 15, 2020
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  • November 9, 2020
    Among the greatest challenges faced by banks, broker-dealers and other financial services firms is the ability to readily identify potential risk among the firm's employee and registered population, before it causes reputational harm. RegEd is pleased to share the following report, authored by Neil Katkov, PhD, Head of Risk and Compliance at Celent, which provides an overview of the current...
  • October 29, 2020
    Many financial institutions (FIs) are considering artificial intelligence (AI) beyond the abstract and are discovering the practical and profitable use cases for emerging cognitive technologies. As AI becomes demystified and valuable use cases emerge, FIs are coming around to the idea of adopting these technologies across a wide range of key business functions. But what does it look like to...
  • October 27, 2020
    The crisis stemming from the Covid-19 pandemic has created significant volatility and uncertainty in the real estate market. At least 30% of Americans with home loans — about 15 million households — could stop paying if the U.S. economy remains closed through the summer of 2020 and beyond. To effectively mitigate this risk, lenders should proactively evaluate processes and technology and...
  • October 6, 2020
    Regulators, such as FINRA, the Office of the Comptroller of the Currency (OCC), and the Consumer Financial Protection Bureau (CFPB), expect banks and other financial services firms to manage existing risks at every level—and to be equally prepared to detect and control new and emerging risks. Poor fraud detection and unethical sales practices in the branch network create high-risk situations and...
  • September 24, 2020
    Re: Request for Information (“RFI”) on Standard Setting and Voluntary Certification for Models and Third-Party Providers of Technology and Other Services The Consumer Bankers Association (“CBA”) applauds the FDIC’s efforts to promote the efficient and effective adoption of technology at FDIC-supervised banks and to facilitate the supervision of technology usage at these institutions without...
  • August 3, 2020
    August 3, 2020 The Honorable Mike Crapo The Honorable Sherrod Brown Chairman, Committee on Ranking Member, Committee on Banking, Housing and Urban Affairs Banking, Housing and Urban Affairs United States Senate United States Senate Washington, DC 20510 Washington, DC 20510 Dear Chairman Crapo and Ranking Member Brown: As you consider potential financial services provisions for the COVID-19...
  • May 11, 2020
    As consumers increasingly desire faster banking, more convenient access to their accounts and quicker decisions on their loan requests, financial institutions are hamstrung by a rising wave of new financial regulations. The burden includes new and existing regulatory requirements including the CECL accounting standard, KYC/AML, customer disclosures and fair lending laws, while risks of default,...
  • May 7, 2020
    COVID-19 has disrupted banking for good. The depth of change, and the speed at which it has occurred, has ratcheted up risk levels. The result? An environment ripe for financial crime – especially fraud, cybercrime, and money laundering. Banks can combat financial crime by using advanced digital technologies, revisiting their business continuity planning, adjusting their risk models, and...

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