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    3 OCC Assesses $75 Million Civil Money Penalty Against U.S. Bank National Association


    The Office of the Comptroller of the Currency (OCC) today announced a $75 million civil money penalty against U.S. Bank National Association of Cincinnati, Ohio, for deficiencies in the bank’s Bank Secrecy Act (BSA) and anti-money laundering (AML) compliance program. These deficiencies were the subject of the OCC’s 2015 consent order against the bank.

    3 Scam Buster: The Grandparents Scam

    Elderly Accountholders/Members are especially vulnerable to fraudulent schemes. One current scam takes the form of a late-night telephone call from the customer's alleged grandchild, who is in desperate need of money. Rayleen Pirnie, AAP provides instructions for you to pass along to your senior customers to help protect their cash. 

    3 Topline Growth Strategy: Digital Innovation for Small Businesses

    “We need a systematic and structured approach to designing, pricing and selling mobile banking solutions,” said David Chung, a director at Simon-Kucher & Partners. “When these steps are managed separately, we find sub-optimal products that fail to meet revenue and profit goals and fall short of addressing customer needs.”

    Attend David's "Small Business Mobile Banking Solutions: Monetizing Digital Products" Webinar on Thursday, the 8th of March at 11AM ET to discover how to implement a systematic and structured approach to designing, pricing and selling mobile banking solutions.

    We're Proud to Announce a New Member of the iTod Team
    3 We're Proud to Announce a New Member of the iTod Team

    iTrain OnDemand (iTod), a leading provider of online financial training, is pleased to announce that celebrated IT specialist Abraham Westfall has taken the position of Director of Technology and Business Development effective as of late January.

    3 Mulvaney Pulls Fair Lending's Teeth: Enforcement Power Removed

    What does this mean for your community bank or credit union? To begin with, you can breathe a bit easier when it comes to extending or denying lines of credit to customers. So long as you're not engage in blatant discriminatory practices, such as overcharging minorities or low-income borrowers for credit, you probably won't be bullied by the Bureau for questionable or vague violations of the Equal Credit Opportunity Act.

    iVIDEO Intro to Business Writing for Financial Professionals
    0 iVIDEO Intro to Business Writing for Financial Professionals

    International Writing Consultant Philip Vassallo will be presenting an iTod webinar on the 30th of April 2018 at 2PM ET. This webinar provides a systematic, top-down approach to business-writing situations that includes the key principles of focused, thorough, organized, and articulate financial documents.


    3 "To Everybody from the Acting Director:" CFPB to Prioritize Debt Collection Rulemaking

    The Acting Director of the CFPB asserted on Wednesday that the Bureau will be "prioritizing" rulemaking and enforcement actions based on consumer complaints. In 2016, nearly one-third of all consumer complaints reported to the CFPB related to debt collection. Although the prospect of new debt collections rules sounds irritating, it may in fact be a blessing in bureaucratic disguise. The Fair Debt Collections Practices Act (FDCPA) is antiquated and unfit for modernity – there wasn't an internet for you to even read this post when the FDCPA went into effect! In other words, the rules on debt collection need to be rewritten to reflect society as it exists today. And, if we're going to get new rules, which would you prefer: (1) a set of potentially prohibited practices cobbled together from facts outlined in enforcement actions; or, (2) clear guidance derived from a rulemaking process?


    3 Serving Limited English Proficiency (LEP) Consumers: An Overview of Challenges, Benefits, & Regulatory Guidance for Community Banks & Credit Unions

    Catering to non-English speakers not only highlights a community FI's commitment to quality customer service, but is also, quite simply, good for business. By opening your services up to non-English speakers, especially those who speak and read Spanish, you expand your market of customers. Capitalize on this opportunity, and increase your Institution's profitability.

    3 Dumbledore's Army: Bureaucrats Mistake CFPB for Hogwarts

    In Tuesday's vlog, iTod offers a quick breakdown of the ongoing shenanigans at the Consumer Financial Protection Bureau. 

    Many mid-level CFPB bureaucrats are furious a federal judge ruled that Mick Mulvaney is the Agency's Acting Director.  These employees have formed a resistance group dubbed "Dumbledore's Army."

    The group's name is, of course, an homage to the secret resistance force in the Harry Potter series. Listen to our 7-minute vlog to learn more about the latest political movement inspired by a children's story. 

    What the Heck is Happening at the CFPB?

    This week iTod breaks down the current CFPB leadership. We also cover other news items, such as: ANOTHER Equifax lawsuit; a new House Bill to kill the CFPB's Payday Loan Rule; Trump's Pick for the FDIC; and, Mortgage Lenders Tax Fix.

    Plus, your iTod iSkim Quickies: News on the Go.