CSI Resources

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What Community Banks Can Learn from FinCEN’s $4.5M Penalty

  • by Michael Barnes
  • Jul 15, 2015

On June 15, 2015, FinCEN—an arm of the U.S. Treasury—penalized Bank of Mingo (Williamson, West Virginia) $4.5 million for willfully violating the Bank Secrecy Act (BSA). And for a small bank like Mingo—one that’s under $100 million in assets—getting hit with a $4.5 million fine is huge.

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Mobile Adoption Spurs Rapidly Changing World of Payments

  • by Derrick Bretz
  • Jul 13, 2015

None of us are strangers to remote controls. We’ve long used them to channel surf, open our garage doors, sometimes even re-set our thermostats before arriving home. They’re a major convenience we can’t imagine living without. In that same way, many consumers have come to think of their smartphone as the remote control for their world.

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Regulatory Priorities: the Next 6 Months and Beyond

  • by Amber Goodrich
  • Jul 08, 2015

In January, CSI published a list of top compliance rules and issues expected to be proposed, finalized, implemented or addressed in 2015. As planned, the Basel III capital rules for smaller institutions went into effect that same month, and the FDIC has since published a centralized toolkit to help community banks understand how to comply with them. In addition, the effective date for the TRID Final Rule is less than three months away, and the CFPB recently weighed in on the rule’s so-called pre-approval loophole.

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Understanding the New FFIEC Cybersecurity Assessment Tool

  • by Steve Sanders
  • Jul 07, 2015

The long-awaited Federal Financial Institutions Examination Council (FFIEC) Cybersecurity Assessment Tool has arrived. Cybersecurity has been at the forefront of the minds of bankers nationwide for many months now, with no end to the epidemic in sight. Organized crime and even nation-states are targeting financial institutions of all sizes, and all indications seem to point to an increase in attacks targeting even smaller financial institutions.


8 Answers to Your .bank Questions

  • by Andy Shever
  • Jul 01, 2015

There’s a new buzz in the domain game, and you’ve probably heard of it‒.bank. Like most industry leaders, you’re probably still weighing the pros and cons, trying to determine what your strategy should be. Check out the following FAQ to break through the clutter and decide if .bank is right for your financial institution.

stack of paper

Online Data Storage: Shred your Relationship with Paper Storage

  • by Eric Butterbaugh
  • Jun 24, 2015

Not only is paper expensive, it takes up a lot of space at your financial institution. Did you know that the comprehensive cost to print one piece of paper could be as high as $0.13 per page? That’s not sustainable.

man paying for gasoline at the pump

Understanding EMV: Preparing for the Great Mag-Stripe Migration

  • by Derrick Bretz
  • Jun 17, 2015

The road to EMV migration in the U.S. has been a rocky one. With complications stemming from federal regulations and ATM compatibility issues, migrating from the mag-stripe cards we rely on today to new chip card-based technology is proving a complex and costly undertaking.

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Is Cuba Open for Business?

  • by Ronnie Wylie
  • Jun 10, 2015

For those of you wondering if Cuba’s now open for business, the answer is “well … not quite yet.” While there has been some ease of the restrictions placed on Cuba, travel is not permitted without a general or specific license from the U.S. Department of the Treasury.

hall of justice columns

What the USA PATRIOT Act Expiration and the USA Freedom Act Mean to Your Financial Institution

  • by Amber Goodrich
  • Jun 03, 2015

Unless you’ve been hiding under a rock or otherwise detached from the news during the past week, you’ve probably heard that the USA PATRIOT Act has expired. The story has been dominating headlines since midnight on Sunday, May 31, when the expiration officially took effect.

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Appendix J and Your BCP: Are They Aligned?

  • by Computer Services, Inc.
  • Jun 01, 2015

Feb. 6 through today—that’s just over a four-month span, but consider what has happened in that relative blink of an eye. Record-breaking snowfall crippled sections of New England. Multiple twisters ravaged parts of tornado alley. A U.S. hospital treated the 11th healthcare worker suffering from Ebola. The worst measles epidemic in years sparked fierce debates about vaccines. And an ISIS fringe group threatened the U.S. with a cyberattack.