Compliance

IBA Compliance Connection

Illinois bankers are constantly challenged with new laws, regulations, enforcement trends, and other pressing compliance concerns. The IBA is here to help! Your IBA membership includes access to members-only compliance resources, guidance on compliance inquiries, outstanding educational events and networking opportunities, a weekly compliance newsletter, and more!

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First–Citizens Bank & Trust Company to Assume Silicon Valley Bank’s Deposits and Loans. First–Citizens Bank & Trust Company of North Carolina has agreed to purchase and assume all of Silicon Valley Bank’s deposits and loans from the FDIC’s bridge bank for the institution. The estimated cost to the Deposit Insurance Fund of is approximately $20 billion. Read the announcement. 

March 27, 2023

FinCEN Releases Guidance for Businesses Reporting Their Beneficial Ownership Information. FinCEN has released guidance for covered business entities that must begin reporting information about their beneficial owners to FinCEN by January 1, 2025. Additional guidance will be published on FinCEN’s website in the coming months. View the announcement, FAQs, key filing dates, key questions, introductory video, and informational video.

March 24, 2023

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Compliance Q&A

Can loan officers notarize borrowers’ signatures on mortgages?

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IBA Compliance Connection – A Valuable Resource for IBA Members

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Original IBA Q&As, together with relevant articles, court decisions, and more!

200+

Topic pages covering a broad spectrum of compliance matters, indexed by bank process and function, together with all relevant Illinois laws and federal regulations

1100+

IBA members have an exciting resource to help them — IBA Compliance Connection at GoToIBA.com — a free website for all employees of IBA member banks that will quickly become your “go to” source for Illinois banking compliance information, guidance and support — each and every day! Request access today!

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