NBA meets virtually and in DC for visits with Nevada's Senate and House delegates.
Join NBA on our Next Visit: September 25-28, 2023 Western States Capitol Hill Visit (Registration & Details)
NBA works with state legislators during session years and with interim committees in off years. In additional to supporting efforts to promote financial literacy, affordable housing and economic development, we work to ensure Nevada is an environment where banks can provide the best products and services to customers.
Thank you to our GR Committee members for all of your work during session. NBA will be working closely with interim Nevada's legislative committees throughout the second half of 2023 and during 2024.
Scroll down for a copy of the End of Session Report.
Nevada Bankers engage with State and federal regulators regularly. Member feedback is a critical piece of helping regulators with their job of providing effective, safe and meaningful oversight. In addition lt irregular meetings with our State FID, NBA works closely with federal regulataors and also offers members a chance to engage in person during the Fall DC visit.
Q: For OFAC purposes, are both rejected and blocked transactions placed in interest-bearing accounts?
A: A rejected transaction would not go into an interest-bearing account and would instead go back to the sender. A blocked transaction would need to go into an interest-bearing account. See: https://ofac.treasury.gov/faqs/topic/1601
Generally, if a transaction is with a prohibited party (for example, the government of Iran), it would be a blocked transaction that would go into an interest-bearing account. On the other hand, if it is with a party who is not a blocked person, but it is still not a permitted transaction, then it is a rejected transaction and it would go back to the sender. See the following FAQ for additional details and examples: https://ofac.treasury.gov/faqs/36
We have a useful OFAC summary available here: https://compliancealliance.com/find-a-tool/tool/office-of-foreign-asset-control-ofac-summary/
Compliance Alliance offers a BSA / AML / OFAC Toolkit with a number of additional resources: https://compliancealliance.com/find-a-tool/by-toolkit/bsa-aml-ofac/
Also offers a comprehensive suite of compliance management solutions. To learn how to put them to work for your bank, call (888) 353-3933 or email info@compliancealliance.com and ask for our Membership Team.
Sign Up for a live Compliance Hub demo:
Trust Tools for Compliance is a stand-alone program designed specifically to assist and support wealth management divisions and brick-and-mortar money managers with their regulatory compliance needs. To learn more, call (888) 353-3933 or email info@compliancealliance.com and ask for our Membership Team.
Sign Up for a live Compliance Hub Trust Demo.
Compliance Hub for Mortgage
Bankers Alliance now gives you easy access to Mortgage Tools—a collection of proprietary regulatory compliance tools with more than 200 worksheets, checklists, trainings and more & a live hotline chat feature connecting you to attorneys and compliance experts—all designed to safeguard internal operations, strengthen business practices, and develop exam-ready organizations. To learn more, call (888) 353-3933 or email info@compliancealliance.com and ask for our Membership Team.
Sign up for a live Mortgage Demo
Review Alliance – DID YOU KNOW?
Did you know the only business loans that are HMDA reportable are for the purchase, refinance, or improvement of a dwelling?
Review Alliance, an independent group of compliance specialists offering banks deep-dive audits of their existing transactions, recommendations about program enhancements or guidance on future safety and soundness. In 2020, we added Virtual Compliance Officer - a new shared service-model using bank-dedicated compliance officers; perfect for monitoring and guiding your bank remotely. To learn how to put them to work for your bank, call (833)-683-0701or email info@bankersalliance.org and ask for our Membership Team.
For timely compliance updates and resources, subscribe to Compliance Alliance’s email newsletters.
Nevada Bankers Association
Nevada Bankers Association 1001 E Sunset Road #96513 Las Vegas, NV 89193 US
Copyright © 2022 Nevada Bankers Association - All Rights Reserved.
Powered by GoDaddy