June 2016: Issue 46
Compliance 2016
Compliance is Critical
Protecting consumer interests should be a critical, strategic component of any financial services company. If not taken seriously, the ramifications could be costly.

Take for example the recent lawsuit from the CFPB against Intercept Corporation. The CFPB "alleges that Intercept turned a blind eye to blatant warning signs of potential fraud or lawbreaking by its clients."

Or consider the fines levied against start-up , Dwolla. In March, the CFPB applied a $100K fine against the online payment platform provider.

Point being: Large or small, well-established or emerging start-up, consumer protection and compliance is all over the news and should be at the front of strategic decisions from financial services companies.

Stay smart and safe.

Top Regulatory Issues for 2016
You've certainly heard of the CFPB. Dodd-Frank? Probably.
But are you aware of the EGRPRA? Maybe not. From data compiled by the Office of  Information and Regulatory Affairs, here are 10 Regulatory Issues the Financial Industry is Watching in 2016.  Whether you work directly in Compliance or know someone that does, this list is a must-read.

News You Can Use
Not everyone has time to study up on the latest PCI Compliance Policy. Often, snippets of information can be useful. So quickly, here are some places to read up on all things Compliance:

Daily, cbsi monitors activities by the CFPB and posts any relevant news to our dedicated CFPB page on our website. You will find the cbsi Quarterly CFPB Report and the CFPB Monthly Complaint report HERE. To learn more about the CFPB, go HERE.

YouTube: cbsi Conversations
cbsi's Ken Kraetzer recently met with Rita Gurevich, President and CEO of Sphere Technology Solutions, where she discussed Compliance issues affecting several industries.

To watch the entire presentation, visit the cbsi YouTube Page on our website: cbsi Conversations

cbsi will be in attendance at the fall Money 20/20 Conference in Las Vegas. Considered to be the premier conference for the Financial Services industry, Money 20/20 covers every topic imaginable, including Compliance. cbsi's very own, Peter Alter will be there so please be sure to contact Peter if you plan to attend the event.

Follow our employees attendance at conferences where they continually post updates and information directly to our Twitter account: @cbsiservices.

To learn more, click HERE.