2020 Fall Compliance Virtual Conference
MONDAY, NOVEMBER 16, 2020, 1:00 P.M.- 4:00 P.M.
Kenneth “Kenny” C. Douglas, CPA, CAMS, CRCM, ACTS
WIPFLI, Atlanta, GA
2020 has definitely been a year of change and adjustment within the banking industry, and the requirements for BSA have
followed suit. During this conference we will cover multiple topics including Cannabis Banking, PEPs, Cybercrime and recent
guidance regarding enforcement of BSA. We will also cover recent fraud schemes that have been perpetuated due to
Since being enacted in the 80s, this year has brought a substantial change to Reg D. During this session we’ll cover this
change in detail, how you should be handling it and how institutions are handing this change from a fee perspective.
With many people working remotely now, including your auditors and examiners, we’ll discuss what works well during these
reviews to make the process easier for everyone. We’ll also discuss how to leverage technology to meet compliance
requirements and how this can impact vendor management. Finally, as Social Media is being utilized more to advertise
and drive business, we’ll look at the pitfalls to be aware of and specifically discuss topics like giveaways and sharing
- CBD/Hemp update – Enhanced Due Diligence – How are other banks handling?
- Reg. D changes – best practices – Are banks treating fee structures differently?
- Fraud update – COVID
- BSA/AML Update:
• Joint Agency Statement on PEPs
• FinCEN Advisory on Cybercrime
• Joint Statement on Enforcement of BSA/AML Requirements
• FinCEN Statement on Enforcement of BSA
- Offsite Regulatory Examinations
- Compliance Technology – tips/tricks; risk-based vendor management
- Social Media Do’s and Don’ts – Giveaways? Sharing realtor information?
TUESDAY, NOVEMBER 17, 2020, 9:00 A.M.- NOON
W. Brad Washburn
Steve H. Powell and Company, Statesboro, GA
- Recent supervisory observations and guidance. The CFPB is responsible for the administration of many of the critical consumer protection rules required to be implemented by all financial institutions. This session will cover an array of current regulatory hot topics based upon recent publications, CFPB Summer and Winter 2020 Supervisory Highlights.
This session will include information and guidance related to:
• Consumer reporting, debt collection, fair lending, and mortgage servicing
• COVID-19 Related Information and Guidance
• Recent public enforcement actions and settlements
- HUD’s Final Rule on FHA’s Disparate Impact Standard. On September 4, 2020, HUD issued a final rule revising its 2013 Fair Housing Act disparate impact standards to reflect the U.S. Supreme Court’s decision which held that disparate impact claims are within the jurisdiction of the courts under the FHA. The final rule establishes a uniform standard for determining when a housing policy or practice with a discriminatory effect violates the FHA and clarifies that application of the disparate impact standard is not intended to affect state laws governing insurance. This session will include an analysis of the final HUD rule and address how it could affect your institution’s fair lending risk and compliance programs.
- SBA PPP Loan Compliance Issues. Many financial institutions have been busy originating loans under the SBA’s Protection Payment Program to provide greatly needed assistance to borrowers during the COVID-19 pandemic. This session will provide a quick review of the potential compliance issues that may arise when originating or denying a PPP
loan, and discuss best practices to consider avoiding potential compliance pit falls for this special loan program.
- CRA Modernization Update. Each of the regulatory agencies agree the CRA rules and regulations need to be modernized, but thus far no consensus on exactly how to accomplish this goal has been reached. Numerous proposals have been issued by the regulatory agencies in the past few years to address CRA modernization. The OCC published a
final rule to modernize its CRA regulations on June 5, 2020; however, the FDIC did not join the OCC in issuing a final rule at that time, although the OCC and FDIC had jointly issued an earlier proposal. On September 21, 2020, the Federal Reserve issued an advanced notice of proposed rule-making that invites public comment on an approach to modernize the CRA regulations to reflect the current banking landscape and better meet the core purpose of the CRA. This session will provide a timely update on the status of CRA modernization efforts and what we can expect moving forward in this critical compliance area.
- CFPB Small Business Lending Data proposals and update (1071 Rulemaking). On September 15, 2020 the CFPB issued an outline of the proposals it is considering for its rulemaking to implement Section 1071 of the Dodd-Frank Act, which concerns the collection of credit application data for women-owned, minority-owned and small businesses. This session will provide an overview of the proposals being considered and insight into what we might expect for future rules regarding collection of small business lending data as well as fair lending impacts.
- Regulation B / ECOA Requests for Information. On August 2, 2020 the CFPB announced a notice seeking comments and information to identify opportunities to prevent credit discrimination, encourage responsible innovation, promote fair, equitable, and nondiscriminatory access to credit, address potential regulatory uncertainty, and develop viable solutions to regulatory compliance challenges under the Equal Credit Opportunity Act (ECOA) and Regulation B. This session will provide an overview of current rules regarding requests for information as well as a look at what we may expect to see in future proposed rules addressing this timely issue.
- TRID update: CFPB FAQs. TRID continues to be a high-risk compliance issue for most financial institutions. This session will review recent guidance issued by the CFPB through its recent FAQs to make sure your financial institution is on top of the latest guidance used by examiners and auditors in reviewing TRID covered loan files.
- Proposed updates to Flood Insurance agency FAQs. The Interagency Questions and Answers, which provide information addressing technical flood insurance-related compliance issues, were last updated in 2011. On June 26, 2020 the joint federal agencies requested public comment on proposed new and revised Interagency Questions and Answers Regarding Flood Insurance in light of recent changes to flood insurance requirements under the agencies’ joint rule regarding loans in special flood hazard areas. The proposal incorporates new questions and answers in several areas,
and also revises existing questions and answers to improve clarity. This session will provide a quick analysis of the changed and revised FAQs so a financial institution can ensure its flood insurance compliance processes and procedures are up to date with the current regulatory guidance.
- Proposed ATR/QM (Seasoned QM) and HPML escrow rules. On July 2, 2020 the CFPB issued a notice of proposed rulemaking that would amend Regulation Z to provide a new exemption available to certain financial
institutions from the requirement to establish escrow accounts for certain higher-priced mortgage loans (HPMLs). In addition, on August 18, 2020, the CPPB issued a notice of proposed rulemaking inviting the public to comment on potential amendments to the Ability to Repay/Qualified Mortgage Rule to add a new category of qualified mortgages, the Seasoned QM. This session will provide a quick review of these proposals and what impacts we might expect to see in the final rules when issued.
For Executive risk-management teams and regulatory compliance officers.
ABOUT OUR SPEAKERS
Kenneth “Kenny” C Douglas, CPA, CAMS, CRCM, ACT Specialist is a graduate of Georgia Southern University with a Bachelor of Business Administration degree in Accounting and Finance and a Masters of Business Administration. After graduating, he joined a public accounting firm where he gained experience in external and internal auditing of banks. He also gained a foundational knowledge of deposit and lending compliance, fair lending and BSA/AML by working side by side with a prior OCC examiner. Kenny later joined Regions Bank, a top 20 bank
in the U.S., to work in their Internal Audit department as a Senior Regulatory Compliance Auditor on their compliance and BSA team. While at Regions, Kenny served as the Flood and HMDA subject matter expert for the department. Aside from auditing, Kenny has gained extensive experience in Risk Assessment review and development, conducting training for bankers and banking associations, policy development, and enhancing processes to be as efficient as possible with limited resources. Kenny has also been involved with unique projects related to virtual currency, marijuana banking and international correspondent banking.
W. Brad Washburn is a financial institution specialist for Steve H. Powell and Company, which is headquartered in Statesboro, Georgia. Brad has been with the company since 2002 and serves as the managing director of the compliance division as well as the managing editor of the regulatory compliance newsletter, The Compliance Pipeline. As a financial institution specialist, he provides risk-based regulatory compliance review, consultation, audit, and training services for financial institutions of various asset sizes located throughout the Southeastern United States. Brad has served as a featured speaker and panel member for numerous seminars and events related to regulatory compliance matters, and has been quoted in a national banking news publication as a compliance subject matter expert. In addition, he has served as an instructor for the Georgia Banking School at the University of Georgia and has participated in banking programs with the Center for Banking at Georgia Southern University. Brad has a BBA in Finance from Georgia Southern University, Statesboro, Georgia, is a Certified Anti-Money Laundering Specialist (CAMS), and is a Certified Regulatory Compliance Manager (CRCM). Brad is originally from Macon, Georgia and currently resides in Statesboro, Georgia with his wife, son, and two daughters.