2021—What a year! As expected, the Biden-Harris administration’s views influenced agency leadership and policies starting on Inauguration Day, January 20. Crypto-assets were in the headlines. At the beginning of the year, the OCC (under the previous administration) clarified that OCC-supervised banks and savings associations could participated in independent node verification networks of crypto-assets and use stablecoins to conduct payment activities. Near the end of the year, the OCC issued further clarification on those and other crypto-asset issues, focusing on risk-management and safety-and-soundness concerns.
The Corporate Transparency Act and Anti-Money Laundering Act of 2020 became effective on New Year's Day, 2021, and FinCEN has begun gearing up to review their provisions and make appropriate changes.
Treasury Department and IRS were challenged when issuing EIP distributions, and banks managed direct deposits to closed accounts and deceased individuals.
The FDIC sponsored a series of “Tech Sprints” to foster innovation.
The OCC issued—and later suspended—its “Fair Access Rule.”
The Reserve Banks struggled with coin orders during the Pandemic.
And the list goes on!
We’ll hit all the highlights during this fast review of the year’s operations compliance issues and tell you where to find more information on developments you may have missed during the year.
What's different that you need to be watching?
What do you now need to focus your attention on this year?
Find out about the changes that may have slipped through the cracks, or relax a bit, knowing that you've covered all the bases and are prepared to take on the coming year's inevitable challenges as the compliance environment continues to change.
Here are some of the things we'll cover in this fast-paced 90-minute presentation:
- Operations area significant enforcement actions
- The latest on faster payments
- Same-day ACH settlement update
- BSA/AML developments
- Our annual “crystal ball” forecast
- and more
Questions and Answers