June 23, 2022
The U.S. Department of the Treasury, in consultation with the Inter-Agency Working Group on Treasury Market Surveillance (IAWG), has taken the next step in its work to bolster Treasury market resilience by publishing a request for information (RFI) to solicit public feedback on additional post-trade data transparency in the Treasury securities market.
Financial Action Task Force Identifies Jurisdictions with Anti-Money Laundering and Combating the Financing of Terrorism and Counter-Proliferation Deficiencies
June 23, 2022
The Financial Crimes Enforcement Network (FinCEN) is informing U.S. financial institutions that the Financial Action Task Force (FATF), an intergovernmental body that establishes international standards for anti-money laundering, countering the financing of terrorism, and countering the financing of proliferation of weapons of mass destruction (AML/CFT/CPF), has issued public statements updating its lists of jurisdictions with strategic AML/CFT/CPF deficiencies following its plenary meeting this month. U.S. financial institutions should consider the FATF’s stance toward these jurisdictions when reviewing their obligations and risk-based policies, procedures, and practices.
September 16, 2022
A new Nacha Rule defining and standardizing Micro-Entry formatting and practices has been passed to improve the effectiveness of Micro-Entries as a means of account validation; to better enable Financial Institutions and other parties to identify and monitor Micro-Entries; to improve ACH Network quality. Effective in two phases, though Nacha encourages all ACH Network participants…
November 01, 2022
An MLO must renew his or her registration during the annual renewal period by confirming and updating his or her registration records. A covered financial institution must update the information it submitted to the Registry during the annual registration renewal period and must confirm the registration information provided by MLO employees during this period.
Member Success Stories
Denise D. Lane
We engaged Compliance Alliance nearly four years ago to assist in managing the many new regulations and continuous changes to existing regulations. The tools C/A offered at that time were excellent and just continue to get better! We find the policy templates easy to customize, which is a tremendous help. Several employees at our bank utilize the online chat feature which is a GREAT tool! C/A’s representatives are experts, and will immediately respond to our request for information. If they are in chat with another client, they will even let you know, so you are not left wondering if they have received your request to chat. I have absolutely nothing negative to say about Compliance Alliance … GREAT resource in all areas of regulatory compliance!”
Bank of Ocean City, Berlin, MD
Compliance Alliance is a great fit for Farmers State Bank, a 70M bank in mid-Michigan. As the Chief Marketing Officer, I’m constantly developing new marketing pieces for the bank and Compliance Alliance is always right there with me keeping my promotional concepts up-to-date with the latest regulatory requirements. I can email my ideas directly to Compliance Alliance knowing that I’ll have a response the next day! This gives me the peace of mind I need to focus on our campaigns and other programs while not getting bogged down with regulatory worries. highly recommend a partnership with Compliance Alliance.”
Farmers State Bank, Munith, MI
The chat feature’s quick turn-around time is what separates C/A from other compliance professionals. Not only is the response quick, in our experience, it is very detailed. And to have the transcript from the chat emailed for future reference—that has been very beneficial on many occasion. My compliance officers love the chat. Personally, I recall a time when in a meeting, our president had a question I could not answer. I logged into a chat session while the meeting was happening, got an answer, and was able to respond in minutes. I couldn’t do that with any other service.”
Heritage Bank, Hopkinsville, KY