Risk & Compliance Roundup: June Regulatory Brief, TPRM Guide for Community Banks

  • June 14, 2024
  • Quantivate

Welcome to your weekly roundup of risk and compliance management resources, brought to you by Ncontracts.

This edition covers topics including:

New from the Nsight Blog

Regulatory Brief for June 2024: 1071, CFPB News and Enforcement Actions

Explore the latest compliance news and analysis from Ncontracts’ team of regulatory experts. This month’s overview covers:

  • CFPB news: Section 1071 deadlines, fintech lawsuits
  • HUD announcements
  • Enforcement actions for consumer protection and BSA/AML violations
  • More compliance news and developments from the NCUA, OFAC, and other agencies

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What Does the New Third-Party Risk Management Supplement Mean for Your Community Bank?

Following the finalization of the Interagency Guidance on Third-Party Relationships: Risk Management in June 2023, federal banking agencies published a 24-page booklet titled “Third-Party Risk Management: A Guide for Community Banks.”

The resource, released last month, supplements last year’s interagency guidance with context and examples, but it does not contain new guidance or regulations. Review reminders and takeaways from the guide in this overview for community banks.

Bonus Resource

How Credit Unions Can Build a Culture of Compliance

Stephanie Lyon, Ncontracts’ VP of Regulatory Compliance, weighs in on the current regulatory landscape for Credit Union Management’s June issue. Get insights on the role that credit union board members play in meeting governance and compliance responsibilities and explore topics to watch in 2024, including fair lending, Bank Secrecy Act enforcement, and more.

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