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Posts in category "Regulatory Compliance"

07/25/2019

Reference rates and the LIBOR sunset: Cause for concern?

In June 2017, the Alternative Reference Rates Committee (ARRC) selected the Secured Overnight Financing Rate (SOFR) as the replacement for USD LIBOR. SOFR is based on the overnight interest rate received for lending cash against Treasury securities. These debts are backed by the collateral of US Treasuries, making SOFR a secured rate. Futures and overnight…

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12/19/2018

What the 2018 elections mean to Financial Institutions

No matter which side of the political aisle you’re on, one thing is for certain: The 2018 midterm elections took us all on a wild ride. Now that the dust has settled, recounts have been completed and the newly elected politicos — a more diverse group than ever before, with more women, people of color,…

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11/20/2018

What are the benefits of a records management program?

In a world where phishing attacks and data breaches are constant threats, a steadfast hero of data privacy is a strong records management program. For this month’s blog, I sat down with Deluxe’s Records Management Program Manager to learn about Deluxe’s approach. What is records management? Records management is the control of all business records…

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10/15/2018

Trust, But Verify: System and Organization Controls (SOC) Reports

What is a SOC report and why do service providers pay to have one completed? Financial institutions (FIs) are regulated by the Federal Financial Institutions Examination Council (FFIEC). The FFIEC is composed of five banking regulators responsible for establishing consistent guidelines and uniform practices and principals for FIs. Simply stated, the FFIEC wants to ensure…

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09/24/2018

Social Media Policies: Four Steps to Effectiveness

  Note: Nothing in this post is legal advice and should not be construed as such. As of March 2018, there are more than 3 billion social media users worldwide. It’s a certainty that at least some of those users work for your organization. These users, and all your employees, need to know the rules…

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08/21/2018

Ethics and Compliance Training: It’s Getting Better All the Time

For those of us who work in Corporate America, whether it be at a financial institution or any other company, ethics and compliance training is a familiar, and often mundane, part of our job responsibilities.  Training historically has been designed to ‘check the boxes’ and provide the required information but rarely does it engage the…

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07/30/2018

Financial Services: Where in the World Does GDPR Apply?

The General Data Protection Regulation (GDPR) is a new European privacy law with a global impact. The regulation became effective on May 25, 2018, and regulates how organizations use and treat the personal data of individuals residing in the EU, regardless of whether the organization responsible for the data collection or processing is physically located…

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