On January 24, 2024, the OCC issued a Consent Order to Blue Ridge Bank, finding that the bank failed to establish and maintain a reasonably designed BSA/AML Program. Deficiencies include systemic internal controls breakdowns, weak independent testing, and insufficient BSA staffing, stemming from risk management challenges related to third-party
On August 8, 2023, the Fed announced its new Novel Activities Supervision Program. Bank-fintech relationships were targeted as a key area of increased supervisory focus. We recently hosted a webinar featuring leaders from Grasshopper Bank, Midland States Bank, and Coastal Community Bank, who broke down the Fed’s announcement and
Bank-fintech relationships and the Banking-as-a-Service (BaaS) landscape have become major regulatory focuses in the last two years and it's essential to follow the latest compliance developments. We’re tracking and updating this page for key regulatory guidance, events, and discussions on bank-fintech oversight expectations. Subscribe to our newsletter
Cable, the all-in-one financial crime effectiveness testing platform, today announced that Candace Sjogren has joined the company as Chief Revenue Officer. Sjogren is a proven leader with significant experience in GTM strategy, sales, business development, and public relations in the financial services industry. She joins Cable as the company is
Your compliance team isn’t reaching its full potential. That may sound like a bold statement. But after listening to many compliance teams’ pain points, frustrations, and desires, we’re convinced most teams aren’t operating as effectively as they could. If you’re a compliance leader, you’ve seen
We're pleased to announce Cable's membership in The Banking-as-a-Service (BaaS) Association, the unified voice for banks and fintechs in the business of Banking-as-a-Service. With growing regulatory scrutiny of BaaS banking, Cable provides innovative technologies tailored for critical oversight, testing, and assurance challenges in the BaaS industry.
We’re pleased to announce that Grasshopper Bank has joined with Cable to deploy automated financial crime assurance, testing, and oversight across the bank’s clients and BaaS platform! Grasshopper, the client-first digital bank built for the business and innovation economy, and Cable, the all-in-one financial crime effectiveness testing platform,