{"id":1134,"date":"2021-01-19T14:48:58","date_gmt":"2021-01-19T21:48:58","guid":{"rendered":"https:\/\/avalaunchsites.com\/bma\/?p=1134"},"modified":"2021-11-01T09:19:51","modified_gmt":"2021-11-01T15:19:51","slug":"compliance-update-january-2021","status":"publish","type":"post","link":"https:\/\/avalaunchsites.com\/bma\/2021\/01\/compliance-update-january-2021\/","title":{"rendered":"Compliance Update \u2013 January 2021"},"content":{"rendered":"[vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; overlay_strength=&#8221;0.3&#8243; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_position=&#8221;all&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_link_target=&#8221;_self&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; overlay_strength=&#8221;0.3&#8243; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; bg_image_animation=&#8221;none&#8221;][vc_row_inner column_margin=&#8221;default&#8221; text_align=&#8221;left&#8221;][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_position=&#8221;all&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; overlay_strength=&#8221;0.3&#8243; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; bg_image_animation=&#8221;none&#8221;][nectar_gradient_text heading_tag=&#8221;h2&#8243; color=&#8221;extra-color-gradient-2&#8243; gradient_direction=&#8221;diagonal&#8221; text=&#8221;Important Regulatory Topic&#8221;][vc_column_text css=&#8221;.vc_custom_1611091784794{padding-bottom: 0px !important;}&#8221;]\n<h3 class=\"p1\">Regulation D \u2013 Annual Adjustments<\/h3>\n<p class=\"p1\">The Federal Reserve Board (FRB) has amended Regulation D (Reserve Requirements of Depository Institutions) to reflect the annual adjustment of two key dollar amounts that are used by financial institutions to determine their required reserves.<\/p>\n<h5><strong>Adjustments<\/strong><\/h5>\n<p class=\"p1\"><strong>Reserve Requirement Exemption Amount<\/strong> \u2013 the amount of the total reservable liabilities that is subject to a 0% reserve requirement has increased from $16.9 million to $21.1 million.<\/p>\n<p class=\"p1\"><strong>Low Reserve Tranche<\/strong> \u2013 the amount of new transaction accounts that could be subject to a reserve requirement ratio of new more that 3% has been increased from $127.5 million to $182.9 million.<\/p>\n[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner column_margin=&#8221;default&#8221; text_align=&#8221;left&#8221;][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_position=&#8221;all&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; overlay_strength=&#8221;0.3&#8243; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; bg_image_animation=&#8221;none&#8221;][vc_column_text]\n<h5><strong>New Reserves<\/strong><\/h5>\n<h4 class=\"p1\">New Reserve Requirements [\u00a7204.4]<\/h4>\n[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner column_margin=&#8221;default&#8221; text_align=&#8221;left&#8221;][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_position=&#8221;all&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; width=&#8221;1\/2&#8243; tablet_width_inherit=&#8221;default&#8221; overlay_strength=&#8221;0.3&#8243; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; bg_image_animation=&#8221;none&#8221;][vc_column_text]\n<p class=\"p1\"><strong>Account Category<\/strong><\/p>\n<p class=\"p1\">Net Transaction Accounts<\/p>\n<p class=\"p1\">\u2022 $0 \u2013 $21.1 million<\/p>\n<p class=\"p1\">\u2022 &gt; $21.1 \u2013 $182.9 million<\/p>\n<p class=\"p1\">\u2022 &gt; $182.9 million<\/p>\n<p class=\"p1\">Nonpersonal Time Deposits<\/p>\n<p class=\"p1\">Eurocurrency Liabilities<\/p>\n[\/vc_column_text][\/vc_column_inner][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_position=&#8221;all&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; width=&#8221;1\/2&#8243; tablet_width_inherit=&#8221;default&#8221; overlay_strength=&#8221;0.3&#8243; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; bg_image_animation=&#8221;none&#8221;][vc_column_text]\n<p class=\"p1\"><strong>Reserve Requirement<\/strong><\/p>\n<p class=\"p1\">0%<\/p>\n<p class=\"p1\">0%<\/p>\n<p class=\"p1\">0%<\/p>\n<p>&nbsp;<\/p>\n<p class=\"p1\">0%<\/p>\n<p class=\"p1\">0%<\/p>\n[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner column_margin=&#8221;default&#8221; text_align=&#8221;left&#8221;][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_position=&#8221;all&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; overlay_strength=&#8221;0.3&#8243; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; bg_image_animation=&#8221;none&#8221;][vc_column_text css=&#8221;.vc_custom_1611091731323{padding-bottom: 0px !important;}&#8221;]\n<h5 class=\"p1\"><strong>Effective Dates<\/strong><\/h5>\n<p class=\"p1\"><strong>Weekly Reporters<\/strong> \u2013 these changes are effective for the 14-day computation period that begins 12\/15\/20 and for the 14-day reserve maintenance period that begins 01\/14\/21.<\/p>\n<p class=\"p1\"><strong>Quarterly Reporters<\/strong> \u2013 these changes are effective for the 7-day computation period that begins 12\/15\/20 and for the 12-day reserve maintenance period that begins 01\/14\/21.<\/p>\n[\/vc_column_text][divider line_type=&#8221;No Line&#8221; custom_height=&#8221;10&#8243;][vc_column_text]\n<p class=\"p1\"><em>Reference: Federal Register; December 11, 2020; pp. 79811 &#8211; 79823<\/em><\/p>\n[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner column_margin=&#8221;default&#8221; text_align=&#8221;left&#8221;][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_position=&#8221;all&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; overlay_strength=&#8221;0.3&#8243; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; bg_image_animation=&#8221;none&#8221;][nectar_gradient_text heading_tag=&#8221;h2&#8243; color=&#8221;extra-color-gradient-2&#8243; gradient_direction=&#8221;diagonal&#8221; text=&#8221;Regulatory Questions and Answers&#8221;][vc_column_text]\n<h6><strong><span class=\"Apple-converted-space\">Question:<\/span><\/strong><\/h6>\n<p class=\"p1\">For time accounts with maturity longer than one year that do not renew automatically, is the bank required to provide disclosures?<\/p>\n<h6><strong>Answer:<\/strong><\/h6>\n<p class=\"p1\">For time accounts with a maturity longer than one year that do not renew automatically at maturity, institutions must disclose to consumers the maturity date and whether interest will be paid after maturity. The disclosures must be mailed or delivered at least 10 calendar days before maturity of the existing account.<\/p>\n<p class=\"p1\"><em>Reference: 12 CFR 1030.5(c) and Official Staff Interpretation 1030.5(c).<\/em><\/p>\n<h6><strong><span class=\"Apple-converted-space\">Question:<\/span><\/strong><\/h6>\n<p class=\"p1\">If a consumer voluntarily closes an account, does the bank need to report it to the Consumer Reporting Agency?<\/p>\n<h6><strong>Answer:<\/strong><\/h6>\n<p class=\"p1\">If the bank furnishes information, when a consumer voluntarily closes an account, the bank must notify the (Consumer Reporting Agency) CRA the next time the bank reports information that would have contained information about that account.<\/p>\n<p class=\"p1\"><em>Reference: Fair Credit Reporting Act, 15 USC 1681; section 623(a)(4).<\/em><\/p>\n[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"<p>[vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; overlay_strength=&#8221;0.3&#8243; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_position=&#8221;all&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_link_target=&#8221;_self&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; overlay_strength=&#8221;0.3&#8243; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; bg_image_animation=&#8221;none&#8221;][vc_row_inner column_margin=&#8221;default&#8221; text_align=&#8221;left&#8221;][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_position=&#8221;all&#8221; background_color_opacity=&#8221;1&#8243;&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1136,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[103],"tags":[],"class_list":{"0":"post-1134","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-compliance-security-updates"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Compliance Update \u2013 January 2021 - BMA<\/title>\n<meta name=\"description\" content=\"The FFIEC Examination Manual does not dictate the individual responsible for day to day compliance with OFAC.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Emerging Financial Technology Trends of 2020 - BMA\" \/>\n<meta property=\"og:description\" content=\"People are investing in fintech for its time and cost-saving benefits and ability to improve a financial institution\u2019s service offerings\" \/>\n<meta property=\"og:url\" content=\"https:\/\/avalaunchsites.com\/bma\/2021\/01\/compliance-update-january-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"BMA\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-19T21:48:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-01T15:19:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2021\/01\/shutterstock_1028220826.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1444\" \/>\n\t<meta property=\"og:image:height\" content=\"754\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Avalaunch Media\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Emerging Financial Technology Trends of 2020 - BMA\" \/>\n<meta name=\"twitter:description\" content=\"People are investing in fintech for its time and cost-saving benefits and ability to improve a financial institution\u2019s service offerings\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Avalaunch Media\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/2021\\\/01\\\/compliance-update-january-2021\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/2021\\\/01\\\/compliance-update-january-2021\\\/\"},\"author\":{\"name\":\"Avalaunch Media\",\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/#\\\/schema\\\/person\\\/eb0166d7b5f4f7c6c92626a825a6bf4a\"},\"headline\":\"Compliance Update \u2013 January 2021\",\"datePublished\":\"2021-01-19T21:48:58+00:00\",\"dateModified\":\"2021-11-01T15:19:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/2021\\\/01\\\/compliance-update-january-2021\\\/\"},\"wordCount\":859,\"publisher\":{\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/2021\\\/01\\\/compliance-update-january-2021\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/wp-content\\\/uploads\\\/2021\\\/01\\\/shutterstock_1028220826.jpg\",\"articleSection\":[\"Compliance &amp; Security Updates\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/2021\\\/01\\\/compliance-update-january-2021\\\/\",\"url\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/2021\\\/01\\\/compliance-update-january-2021\\\/\",\"name\":\"Compliance Update \u2013 January 2021 - BMA\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/2021\\\/01\\\/compliance-update-january-2021\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/2021\\\/01\\\/compliance-update-january-2021\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/wp-content\\\/uploads\\\/2021\\\/01\\\/shutterstock_1028220826.jpg\",\"datePublished\":\"2021-01-19T21:48:58+00:00\",\"dateModified\":\"2021-11-01T15:19:51+00:00\",\"description\":\"The FFIEC Examination Manual does not dictate the individual responsible for day to day compliance with OFAC.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/2021\\\/01\\\/compliance-update-january-2021\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/2021\\\/01\\\/compliance-update-january-2021\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/2021\\\/01\\\/compliance-update-january-2021\\\/#primaryimage\",\"url\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/wp-content\\\/uploads\\\/2021\\\/01\\\/shutterstock_1028220826.jpg\",\"contentUrl\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/wp-content\\\/uploads\\\/2021\\\/01\\\/shutterstock_1028220826.jpg\",\"width\":1444,\"height\":754,\"caption\":\"Man Using Mobile Phone\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/2021\\\/01\\\/compliance-update-january-2021\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Compliance Update \u2013 January 2021\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/#website\",\"url\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/\",\"name\":\"BMA\",\"description\":\"Serving Local Communities and Building Lasting Partnerships\",\"publisher\":{\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/#organization\",\"name\":\"BMA\",\"url\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/wp-content\\\/uploads\\\/2020\\\/01\\\/bma-logo-color-retina.png\",\"contentUrl\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/wp-content\\\/uploads\\\/2020\\\/01\\\/bma-logo-color-retina.png\",\"width\":271,\"height\":80,\"caption\":\"BMA\"},\"image\":{\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/#\\\/schema\\\/person\\\/eb0166d7b5f4f7c6c92626a825a6bf4a\",\"name\":\"Avalaunch Media\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6109c6b7fd97208b1442ff064dd026cc9e8fa5be2369a2b58b100aefaa446c60?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6109c6b7fd97208b1442ff064dd026cc9e8fa5be2369a2b58b100aefaa446c60?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6109c6b7fd97208b1442ff064dd026cc9e8fa5be2369a2b58b100aefaa446c60?s=96&d=mm&r=g\",\"caption\":\"Avalaunch Media\"},\"sameAs\":[\"https:\\\/\\\/avalaunchmedia.com\\\/\"],\"url\":\"https:\\\/\\\/avalaunchsites.com\\\/bma\\\/author\\\/avalaunch\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Compliance Update \u2013 January 2021 - BMA","description":"The FFIEC Examination Manual does not dictate the individual responsible for day to day compliance with OFAC.","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"Emerging Financial Technology Trends of 2020 - BMA","og_description":"People are investing in fintech for its time and cost-saving benefits and ability to improve a financial institution\u2019s service offerings","og_url":"https:\/\/avalaunchsites.com\/bma\/2021\/01\/compliance-update-january-2021\/","og_site_name":"BMA","article_published_time":"2021-01-19T21:48:58+00:00","article_modified_time":"2021-11-01T15:19:51+00:00","og_image":[{"width":1444,"height":754,"url":"https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2021\/01\/shutterstock_1028220826.jpg","type":"image\/jpeg"}],"author":"Avalaunch Media","twitter_card":"summary_large_image","twitter_title":"Emerging Financial Technology Trends of 2020 - BMA","twitter_description":"People are investing in fintech for its time and cost-saving benefits and ability to improve a financial institution\u2019s service offerings","twitter_misc":{"Written by":"Avalaunch Media","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/avalaunchsites.com\/bma\/2021\/01\/compliance-update-january-2021\/#article","isPartOf":{"@id":"https:\/\/avalaunchsites.com\/bma\/2021\/01\/compliance-update-january-2021\/"},"author":{"name":"Avalaunch Media","@id":"https:\/\/avalaunchsites.com\/bma\/#\/schema\/person\/eb0166d7b5f4f7c6c92626a825a6bf4a"},"headline":"Compliance Update \u2013 January 2021","datePublished":"2021-01-19T21:48:58+00:00","dateModified":"2021-11-01T15:19:51+00:00","mainEntityOfPage":{"@id":"https:\/\/avalaunchsites.com\/bma\/2021\/01\/compliance-update-january-2021\/"},"wordCount":859,"publisher":{"@id":"https:\/\/avalaunchsites.com\/bma\/#organization"},"image":{"@id":"https:\/\/avalaunchsites.com\/bma\/2021\/01\/compliance-update-january-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2021\/01\/shutterstock_1028220826.jpg","articleSection":["Compliance &amp; Security Updates"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/avalaunchsites.com\/bma\/2021\/01\/compliance-update-january-2021\/","url":"https:\/\/avalaunchsites.com\/bma\/2021\/01\/compliance-update-january-2021\/","name":"Compliance Update \u2013 January 2021 - BMA","isPartOf":{"@id":"https:\/\/avalaunchsites.com\/bma\/#website"},"primaryImageOfPage":{"@id":"https:\/\/avalaunchsites.com\/bma\/2021\/01\/compliance-update-january-2021\/#primaryimage"},"image":{"@id":"https:\/\/avalaunchsites.com\/bma\/2021\/01\/compliance-update-january-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2021\/01\/shutterstock_1028220826.jpg","datePublished":"2021-01-19T21:48:58+00:00","dateModified":"2021-11-01T15:19:51+00:00","description":"The FFIEC Examination Manual does not dictate the individual responsible for day to day compliance with OFAC.","breadcrumb":{"@id":"https:\/\/avalaunchsites.com\/bma\/2021\/01\/compliance-update-january-2021\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/avalaunchsites.com\/bma\/2021\/01\/compliance-update-january-2021\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/avalaunchsites.com\/bma\/2021\/01\/compliance-update-january-2021\/#primaryimage","url":"https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2021\/01\/shutterstock_1028220826.jpg","contentUrl":"https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2021\/01\/shutterstock_1028220826.jpg","width":1444,"height":754,"caption":"Man Using Mobile Phone"},{"@type":"BreadcrumbList","@id":"https:\/\/avalaunchsites.com\/bma\/2021\/01\/compliance-update-january-2021\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/avalaunchsites.com\/bma\/"},{"@type":"ListItem","position":2,"name":"Compliance Update \u2013 January 2021"}]},{"@type":"WebSite","@id":"https:\/\/avalaunchsites.com\/bma\/#website","url":"https:\/\/avalaunchsites.com\/bma\/","name":"BMA","description":"Serving Local Communities and Building Lasting Partnerships","publisher":{"@id":"https:\/\/avalaunchsites.com\/bma\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/avalaunchsites.com\/bma\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/avalaunchsites.com\/bma\/#organization","name":"BMA","url":"https:\/\/avalaunchsites.com\/bma\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/avalaunchsites.com\/bma\/#\/schema\/logo\/image\/","url":"https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2020\/01\/bma-logo-color-retina.png","contentUrl":"https:\/\/avalaunchsites.com\/bma\/wp-content\/uploads\/2020\/01\/bma-logo-color-retina.png","width":271,"height":80,"caption":"BMA"},"image":{"@id":"https:\/\/avalaunchsites.com\/bma\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/avalaunchsites.com\/bma\/#\/schema\/person\/eb0166d7b5f4f7c6c92626a825a6bf4a","name":"Avalaunch Media","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/6109c6b7fd97208b1442ff064dd026cc9e8fa5be2369a2b58b100aefaa446c60?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6109c6b7fd97208b1442ff064dd026cc9e8fa5be2369a2b58b100aefaa446c60?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6109c6b7fd97208b1442ff064dd026cc9e8fa5be2369a2b58b100aefaa446c60?s=96&d=mm&r=g","caption":"Avalaunch Media"},"sameAs":["https:\/\/avalaunchmedia.com\/"],"url":"https:\/\/avalaunchsites.com\/bma\/author\/avalaunch\/"}]}},"_links":{"self":[{"href":"https:\/\/avalaunchsites.com\/bma\/wp-json\/wp\/v2\/posts\/1134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/avalaunchsites.com\/bma\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/avalaunchsites.com\/bma\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/avalaunchsites.com\/bma\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/avalaunchsites.com\/bma\/wp-json\/wp\/v2\/comments?post=1134"}],"version-history":[{"count":0,"href":"https:\/\/avalaunchsites.com\/bma\/wp-json\/wp\/v2\/posts\/1134\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/avalaunchsites.com\/bma\/wp-json\/wp\/v2\/media\/1136"}],"wp:attachment":[{"href":"https:\/\/avalaunchsites.com\/bma\/wp-json\/wp\/v2\/media?parent=1134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/avalaunchsites.com\/bma\/wp-json\/wp\/v2\/categories?post=1134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/avalaunchsites.com\/bma\/wp-json\/wp\/v2\/tags?post=1134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}