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Regulatory Compliance

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AI Regulations for Financial Services: US Treasury Department

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility. The economic risks of AI to the financial systems include everything […]

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FDIC Extends Timeline to Comply with New Digital Signage Requirements

The Federal Deposit Insurance Corporation (“FDIC”) recently announced that it is providing financial institutions additional time to get new process and systems in place by extending the compliance date for the new FDIC signage and advertising rule (Part 328, subpart A) from January 1, 2025, to May 1, 2025. The final rule established a new […]

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AI Regulations for Financial Services: FinCEN

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility. The economic risks of AI to the financial systems include everything […]

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AI Regulations for Financial Services: CFPB

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility. The economic risks of AI to the financial systems include everything […]

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AI Regulations for Financial Services: OCC

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility. The economic risks of AI to the financial systems include everything […]

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FDIC Digital Sign Requirement Deadline Fast Approaching – Part 2 of 2

Introduction A quick summary of the new official digital sign requirement of the FDIC is that effective January 1, 2025, this logo:   must be replaced by this logo: For readers who missed part 1 of this series or want to reread the original blog can find it here. However, the new lengthy regulation raised […]

Woman Hands Debit Card To Unrecognizable Bank Teller

FDIC Digital Sign Requirement Deadline Fast Approaching – Part 1 of 2

FDIC Digital Sign Requirement Just before Christmas on December 23, 2023, to be precise, the Federal Deposit Insurance Corporation (“FDIC”) Board of Directors gave a Christmas gift that was the equivalent of coal in their stocking. Since the 1930s, when the FDIC was founded as part of the New Deal, the black and gold official […]

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Environmental, Social and Governance (ESG) and Climate Risk Investing – You must be kidding me?!

“As if there weren’t enough jargons and complex terms to remember for an investor, you are telling me I need to now know about ESG and Climate Risk – You must be kidding me!!” – These are the exact words (with a couple of expletives, that I cannot quote here) – a senior fund administrator […]

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3 Key Takeaways from XLoD 2024

Our risk and regulatory compliance experts, Carl Aridas and Chandni Patel, have just returned from XLoD 2024 in New York. The event brought together the world’s top financial institutions and regulators to discuss the future of non-financial risk and control. With over 500 industry professionals in attendance, it showcased the unwavering commitment to practical innovation […]

All Set For Productivity

The FDIC’s New Rule Claims “Five is Enough”

Starting April 1, 2024, the Federal Deposit Insurance Corporation (FDIC) has implemented a new rule for trust account insurance coverage. This rule, originally passed in January 2022, consolidates insurance coverage for different types of trust accounts into a single category called “Trust Accounts.”   Key Changes to Trust Account Coverage  Consolidation of Trust Categories  The FDIC […]

Compliance To Standards, Regulations, And Requirements To Pass Audit And Manage Quality Control. Concept About Conformity With Manager Or Auditor Pressing Buttons With Icons.

Exploring Industry Shifts in Banking Compliance at XLoD

Our banking risk and regulatory experts are excited to attend the upcoming XLoD Global event in New York on June 11th.   What is XLoD Global?  The world’s leading financial institutions and regulators come together at XLoD to discuss the future of non-financial risk and control. Representatives from all three lines of defense—operational management, risk […]

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A Review of Capital Ratio Requirements of Credit Unions

How are Federal Credit Unions Regulated?  Banking professionals are aware that the Federal Reserve Bank (Fed), the Office of the Comptroller of the Currency (OCC), or for state-chartered banks, the Federal Deposit Insurance Corporation (FDIC) serves as their primary federal regulator. For those whose deposits are insured, the FDIC acts as a secondary federal regulator, […]

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