Annual Operations Compliance Recap


Presented by: John Burnett
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Even in a “quiet” year with relatively few legal or regulatory developments, there are always some operations compliance changes. The Prepaid Accounts rule became effective April 1. There were revisions to the Call Report. Some significant BSA/AML penalties were imposed, and OFAC made its usual collection of announcements of sanctions program and SDN List changes, OFAC violations and settlements. There was guidance from FinCEN and a Fed proposal for a new service to provide faster payments. Funds availability policies will be affected next year by amendments to Reg CC. The IRS proposed changes to the life expectancy and distribution tables affecting minimum distributions from IRAs and other retirement accounts.

The NCUA changed its rule on public unit and nonmember shares. There was increased encouragement of innovation in the provision of financial services and in products, services and approaches to enhance anti-money laundering and countering the financing of terrorism efforts. Treasury renewed its effort to convert all federal government payments (except tax refunds) to electronic delivery, and FinCEN made a surprise change in its instructions for filing CTRs.

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 new?
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 sit back in comfort, 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 two-hour presentation:
  • UDAP and UDAAP in the operations area – significant enforcement actions
  • Overdraft programs – what’s going on?
  • Latest info on banking marijuana-related businesses
  • Promises of faster payments around the corner
  • Changes to Reg CC
  • Same-day ACH settlement update
  • BSA/AML developments
  • Our annual “crystal ball” forecast
  • and more
About the Speaker: John Burnett joined Glia Group, Inc., and BankersOnline in 2004, and currently serves as Executive Editor. He is a 1990 honors graduate of the Stonier Graduate School of Banking and is an alumnus of the ABA National Compliance School, where he served on the faculty for several years.

John began his banking career in high school when he started as a teller at a $15 million bank that didn't have account numbers for its checking accounts (he says they actually filed by signature!) He joined Cape Cod Bank and Trust Company in 1971 and assumed the position of Compliance Officer in 1976. He also served as corporate secretary and secretary of CCBT's Board of Directors, as well as Clerk of the bank's holding company.

He was a member and Chair of the Massachusetts Bankers Association Legal and Regulatory Compliance Committee, and a member of the American Bankers Association Compliance Executive Committee and NCS/NGCS Advisory Board. He is a regular presenter of BOL Learning Connect webinars and a presenter at BOL Conferences events. As a BOL Guru, John assists bankers handle common and uncommon compliance challenges on the site and its paid subscription service,

This program was recorded in its entirety in January 2020. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_oprecap0120
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Wednesday 29 November, 2006.

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