Product Updates for January 2017
The Product Updates for January 2017 from BankPolicies.com feature the following new and revised policy template products:
These new and revised products were developed in response to client requests and OCC Bulletin 2016-42 that announced a revised “Bank Premises and Equipment” booklet which provides updated guidance regarding risks and best practices associated with bank premises and equipment.
The complete contents of the new Bank Premises and Equipment Risk Management Policy Template are included within the Fixed Asset Policy Template as Topic 5.
The update to these products is in response to the CFPB’s Compliance Bulletin 2016-03 entitled “Detecting and Preventing Consumer Harm from Production Incentives“ dated 11/28/16 that compiles guidance that has previously been given by the CFPB in other contexts and highlights examples from the CFPB’s supervisory and enforcement experience in which incentives contributed to substantial consumer harm. In addition, it describes compliance management steps supervised entities should take to mitigate risks posed by incentives.
As a reminder, the complete contents of the new Human Resources Incentive Compensation Policy Template are included within the Human Resources Salary Administration Policy Template as Topic 4.
The update to these products is in response to OCC Bulletin 2016-44 that announced a revised “Consigned Items and Other Customer Services” booklet which provides updated guidance regarding risks and best practices associated with consigned items and other customer services.
Keeping You Informed
We provide this Product Update Blog as a courtesy to all clients regarding new and revised products released by BankPolicies.com. We feel that it is important to keep our clients well informed of changes to the financial institution industry, including keeping on top of federal regulatory changes, and industry recommended best practices. In this regard, we encourage you to subscribe to our Product Update Notification List in which these types of announcements are made including any special offers that can save you time and money. Just send an e-mail to our [email protected] address in order to be added to our distribution list.