ABA Banking Journal - November/December 2015 - (Page 12)
ABA Foundation Introduces New Campaign
to Promote Safe Banking for Seniors
The ABA Foundation has announced
a new campaign-Safe Banking
for Seniors-to provide America's
seniors and their caregivers with
tools to prevent financial fraud.
Similar to the foundation's popular
financial literacy campaigns for
children and teens, Safe Banking
for Seniors will mobilize bankers
across the country to educate older
Americans and their caregivers
about elder financial abuse.
"Our goal with this campaign is to
arm bankers and their customers with
the tools they need to fight fraud,"
says Corey Carlisle, executive director
of the ABA Foundation. "We will be
encouraging bankers to team up with
other organizations and agencies in
their communities to reach the greatest
number of consumers possible."
Coming in January, the foundation
will provide bankers with event
materials, lesson plans, media
outreach tools and best practices.
Bankers will be encouraged to
bolster their outreach to seniors
and financial caregivers in their
communities throughout the year. For
the remainder of 2015, the foundation
aims to highlight best practices and
urges the banking community to
become a part of the initiative.
To receive new materials and program
updates as they are released, bankers
can sign up at aba.com/seniors.
Survey Finds Reg Burden Limits
Growing regulatory compliance
burdens have led nearly half of
banks to reduce their offerings of
financial products and services,
according to ABA's biannual Survey
of Bank Chief Compliance Officers.
A combined 46.3 percent said their
banks had cut offerings for loan
accounts, deposit accounts, both, or
for other services-up slightly from
2011 and 2013 and up substantially
from the 21.9 percent who reported
exiting a product line or channel
due to regulatory burdens in 2009.
Meanwhile, nearly 46 percent
of chief compliance officers said
their banks had either decided not
to launch a product, open a new
channel, or hold off on entering a
new market or had held off while
determining the regulatory effect.
The survey report, available
for free on aba.com for ABA
members, also covers trends
in compliance outsourcing
ABA BANKING JOURNAL | NOVEMBER/DECEMBER 2015
Nearly half of all banks outsource at least one compliance
function. Of those that do, audit is the most-outsourced.
and third-party systems, as well as the budgets and the number
of full time employees devoted to the compliance function.
Table of Contents for the Digital Edition of ABA Banking Journal - November/December 2015
A Conversation With the Comptroller
Cover Story Doing the Right Thing
Big Data and Predictive Analytics: A Big Deal, Indeed
Stress Testing: Feeling the Pressure?
ABA Compliance Center Inbox
Cybersecurity Self-Assessment Tool Helps Combat Risk
Real Estate Lending
Banker Recommended Reading
From the States
Corporate Social Responsibility
Index of Advertisers
ABA Banking Journal - November/December 2015
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