Saturday Links

The Federal Agencies jointly released the revised Bank Secrecy Act / Anti-Money Laundering Examination Manual.  Changes include a discussion regarding remote deposit capture, clarified responsibilities regarding ACH transactions, and an enhanced section on suspicious activity reports.  Click here for a brief summary of the changes.  The linked release also has a link to the actual manual.

In a report published in July, Celent reports that fewer than 2% of financial institutions currently offer online account opening and estimates that by 2010 that figure will increase to 18-20%.  Celent's full report must be purchased, but the summary provides some basic information on online bank account opening.  [if you have any question on the legal implication of online bank account opening, contact Jeffrey J. Andersen]. 

Both the Federal Reserve  and the FDIC released valuable resources to consumers.  The Federal Reserve has a site collecting relevant online resources for consumers faced with foreclosure.  Click here for the link.  The FDIC released a report entitled "51 Ways to Save Hundreds on Loans and Credit Cards" containing information and tips on a variety of issues, including student loans, mortages, auto loans, and payday loans.