July 26 - As Web presence becomes an even greater necessity for financial institutions to remain competitive, maintaining full compliance with government rules and regulations for online content is of the utmost importance. In addition to regulations connected with the Dodd-Frank Act, the Consumer Financial Protection Bureau has ramped up compliance regulations surrounding unfair, deceptive or abusive acts and practices, requiring further compliance adjustments by financial institutions. As a result of the UDAAP standards, now is the time for financial institutions to re-evaluate their online presence to ensure full compliance.
ATTUS Technologies Inc., a division of Computer Services Inc. and a leading regulatory compliance solutions provider, has introduced new enhancements to its Website Comply service, incorporating the new CFPB standards into its review process to ensure financial institutions’ websites are fully compliant. Adjusting to meet regulatory changes, Website Comply now not only reviews the overall website for UDAAP violations, but also evaluates specific products and services featured on the site for any violations, which the CFPB has strongly encouraged since introducing the new regulations.
Odessa, Texas-based Security Bank has been leveraging Website Comply to ensure each aspect of its website is in full compliance with all mandated regulations applicable to its online presence.
“We’ve used ATTUS for the last two years for our Web reviews and have found the Website Comply team to be extremely knowledgeable in all aspects of compliance, from such general regulations as third-party Web linking, to the most detailed components of BSA, deposit, lending, GLBA and UDAAP,” said Rick Leatherman, vice president of Security Bank. “As the standards for website compliance become more stringent and require a deeper review of Web content, we are confident that the ATTUS team will continue to provide us with the needed guidance to maintain full compliance and remain a trusted advisor for our institution.”
Website Comply also checks for compliance with the FFIEC Guidance on Electronic Financial Services and Consumer Compliance and consults best practices from federal regulators and industry experts to ensure full site compliance.
“Regulators are beginning to place greater emphasis on financial institutions’ Web presence, so banks and credit unions need a reliable method for effectively managing online compliance,” said Lori Moore, director of compliance for ATTUS Technologies. “With the introduction of the new UDAAP requirements from the CFPB, we remain dedicated to managing our customers’ website compliance and continue to actively monitor the industry for new rules and regulations that require further updates to maintain the value and efficiency of our solutions.”
Learn more about ATTUS’ Website Comply at www.attustech.com.
About ATTUS Technologies Inc.
ATTUS Technologies Inc. is an industry leader in software and services for regulatory compliance, homeland security and fraud prevention. ATTUS serves more than 5,000 clients comprised of Financial Services, Insurance, Software, Healthcare, Pharmaceuticals, Energy & Utilities, Wholesale Goods, Travel & Leisure, Real Estate, Non-profit, Retail and more. ATTUS’ solutions provide compliance with the requirements of the Gramm-Leach-Bliley Act, the USA PATRIOT Act, the Office of Foreign Assets Control, the Financial Crimes Enforcement Network, the Bureau of Industry and Security, anti-money laundering regulations, the Bank Secrecy Act, Regulation CC and Regulation E. ATTUS, a wholly owned subsidiary of Computer Services Inc., is based in Charlotte, N.C. For more information about ATTUS, visit www.attustech.com.
About Computer Services Inc.
Computer Services Inc. delivers core banking, payments processing, Internet, card services, risk assessment, fraud prevention, network management, regulatory compliance and document delivery solutions to financial institutions and corporate entities across the nation. Technology planning, personal account management and world-class customer service explain why CSI is known as one of the nation’s premier providers of technology solutions for the financial services industry. CSI’s stock is traded on the OTCQX under the symbol CSVI. CSI is based in Paducah, Ky. For more information about CSI, visit www.csiweb.com.