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Announcing: BSA News Forum
March 28, 2012

Greetings!

 

My firm has created a website, BSA News Forum, for Residential Mortgage Lenders and Originators (RMLOs) that are mandated to comply with the Bank Secrecy Act (BSA) guidelines pertaining to the Anti-Money Laundering Program required by the Financial Crimes Enforcement Network (FinCEN).

As you know, for the first time FinCEN will require nonbank RMLOs to implement an Anti-Money Laundering program (AML Program) and file Suspicious Activity Reports (SARs) for certain loan transactions.  FinCEN is establishing this AML program in accordance with the Bank Secrecy Act ("BSA"). The guidelines relating to the AML requirement become effective on April 16, 2012, and the AML Program's effective compliance date is August 13, 2012.

 

 

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Jonathan Foxx - Portrait
Jonathan Foxx
President and
Managing Director

Lenders
Compliance
Group





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BSA NEWS FORUM

The BSA News Forum website has interactive, discussion facilities and is shared through LinkedIn, Facebook, and Twitter.
 
Articles and interactive discussions will be regularly posted on BSA News Forum, as well as LinkedIn, Facebook, and Twitter in order to keep viewers and participants informed.

We welcome proposals for news and articles to be posted on the BSA News Forum.

Lenders Compliance Group is pleased to make this commitment to administer, monitor, maintain, and continually update the BSA News Forum.

  

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LENDERS COMPLIANCE GROUP is the first full-service, mortgage risk management firm in the United States specializing exclusively in outsourced mortgage compliance and offering a full suite of services in residential mortgage banking for banks and non-banks. We are pioneers in outsourcing solutions for residential mortgage compliance. We offer our clients real-world, practical solutions to mortgage compliance issues, with an emphasis focused on operational assessment and improvement, benchmarking methodologies, Best Practices, regulatory compliance, and mortgage risk management. We are pioneers in outsourcing solutions for mortgage compliance.

 

This communication is sent to our valued clients and colleagues, who regularly receive our Mortgage Compliance Updates, Compliance ALERTS, and Commentaries. These publications are free to subscribers.

 

Information contained in this email is not intended to be and is not a source of legal advice. The views expressed are those of the contributing author, as well as news services and websites linked hereto, and do not necessarily reflect the views or policies of Lenders Compliance Group (LCG), any governmental agency, business entity, organization, or institution. LCG makes no representation concerning and does not guarantee the source, originality, accuracy, completeness, or reliability of any statement, information, data, finding, interpretation, advice, opinion, or view presented herein.

 

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