The Kinective Pulse

The document provides examples of risk management practices for a financial institution’s safe and sound use of cloud computing services and safeguards to protect its customers’ sensitive information from risks that pose potential consumer harm.

The purpose of this article is to briefly review some of the key points of the Private Flood Insurance Rules.

With all the recent flooding incidents in the country, it may be useful to review some of the steps to determine the amount of flood insurance for each collateral improved piece of real estate located in a special flood hazard area (INCLUDING ABUNDANCE OF CAUTION OR INCIDENTAL COLLATERAL) or for a LOAN SECURED BY A MOBILE HOME located in a special flood hazard area (whether or not loan is secured by the real estate).

COVID or not, things continue to roll along in the financial services industry. As a result, perhaps a review of some of the most common lending area compliance questions or potential pitfalls is in order. The goal of this article is to focus on just a few on the consumer side of lending.

With so much focus on Consumer Compliance documentation, on occasion it can be useful to step back and take a look at some of the most common commercial compliance documentation questions/potential pitfalls. Here are just a few documentation items for consideration.

Mark your calendars: all remaining financial institutions will adopt CECL, and they will reserve day-one exposure on January 1, 2023.

NXTsoft is offering our Compliance Education courses – perfect for financial institutions. The training library includes video-based compliance courses that are animated to maximize retention.

When you go to a financial institution to open a checking or savings account, a representative may obtain a consumer report from companies that track checking account related information.