Heartland Bank and Trust Company’s Post

How I spent my last summer vacation. And the one before that. And every other holiday, for that matter. This a landmark case for the State of California that I believe will open a new chapter in U.S. domestic anti-money laundering supervision at the state level. It is also a textbook case for why financial institutions must understand and apply the Risk-Based Approach and foster a true culture of compliance within their respective institutions. Compliance professionals should carefully study the DFPI, Federal Reserve, and SEC actions. See: 1. The SEC's 64-page complaint: https://lnkd.in/gNiN_NdY 2. The Federal Reserve's consent order: https://lnkd.in/gx5Zm86i

Very good reminder from the regulators on the importance of Trust Contact Persons and how to protect against elder abuse. Ensure that this is in place for your vulnerable clients. #nbin #risk #regulatory #protectseniors

Here are the latest Weekly Talking Points from this week's Policy and Capital Markets Briefing: 1. Basel Endgame Update 2. SEC Releases Final Climate Rule 3. CRE Concerns at Powell Hearings 4. State of the Union Highlights Catch these and other stories at www.crefc.org/News #CREFinance #CommercialRealEstate #CREFC #CRENews #Banking #SEC #BaselProposal

The Dodd-Frank Wall Street Reform and Consumer Protection Act was passed in 2010 in response to the financial crisis of 2008. It aimed to prevent another economic meltdown by implementing regulations on the financial industry. The act created new agencies, such as the Consumer Financial Protection Bureau, to oversee financial institutions and protect consumers from predatory practices. It also established new rules for banks, requiring them to hold more capital and undergo stress tests to ensure their stability. Additionally, the act banned risky trading practices and created a whistleblower program to encourage individuals to report financial misconduct. While some critics argue that Dodd-Frank stifles economic growth and imposes unnecessary burdens on businesses, supporters believe that it is necessary to prevent another financial crisis. Overall, the Dodd-Frank Act represents a significant effort to reform the financial industry and protect consumers from exploitation.

The Federal Reserve Board and the Office of the Comptroller of the Currency fined Citigroup a combined $135.6 million in financial penalties for violating enforcement requirements. Read more on InvestmentNews 🔗 https://lnkd.in/eMDikjMM #Citigroup #FinancialPenalties #FederalReserve #OCC #RiskManagement #BankingRegulations #CorporateGovernance #Compliance #BankingIndustry #BusinessNews

The second half of September is historically the worst two-week trading period for the S&P, and some investors are already positioning for this challenging technical setup. That’s according to Scott Rubner, Global Banking and Markets, who notes that the US Election in November could become a clearing event for risk assets. Clients can access the full note here: http://ms.spr.ly/6044mGej2

9.00am - 9.45am Regulation Sean Tuffy moderates a panel of experts including Jonathan Lee of Kaizen, Farrah Mahmood of International Securities Lending Association (ISLA), Kevin McNulty of EquiLend, Ed Oliver of eSecLending and Jonathan T. of Cappitech from S&P Global Market Intelligence In this session, panellists will take an in-depth look at the ever-shifting regulatory landscape, considering some of the key changes over the past year and how the industry will tackle the future. From the SFTR to the SEC’s 10c-1a SLATE, the line up of experts will consider the ramifications — both current and potential — on the securities finance sector. Coming just a week after the US election, the political backdrop looks set to add yet another dimension after a campaign which brought Basel Endgame and capitalisation requirements to the mainstream. Register here... https://lnkd.in/en97EJKJ

Law360 covers banks lobbyists gloating about standing in the way of common sense financial protect rules. Dennis Kelleher explains "The banks' real problem with the rules now is that they just don't like rules that require more protections for investors, customers, consumers, markets and financial stability rather than rules that increase banks' revenues, profits and compensation." Read more at: https://lnkd.in/ejghG6JD

Will the SCOTUS decision in Cantero v. Bank of America reshape the compliance landscape for national banks? Join Alan Kaplinsky for a roundtable webinar with attorneys who filed amicus briefs on each side. The Court’s decision will determine the extent to which national banks must comply with state consumer protection statutes. Hear reactions to the oral argument, insights into the thinking of the justices, predictions for how they’ll rule, and more. For the full slate of panelists and to register, please follow this link: https://bit.ly/4a0wYI1 #NationalBanks #Webinar #BallardBusinessandTransactions

US Regulators Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board and Office of the Comptroller of the Currency have published a framework that outlines how financial institutions should manage and plan for potential climate-related financial risk. While this framework is focused on financial institutions with more than $100 billion in assets, all financial institutions should consider aligning their organizations to it and make the changes necessary to ensure they are well-positioned to manage climate-related risk. Learn more: https://lnkd.in/gW6Jsjgj #governance #climaterisk #datareporting