Compliance Clips

The National Automated Clearing House Association (Nacha) announced changes to rules which establish a base-level of ACH payment monitoring on all parties in the ACH network.  The purpose of the…

On Aug. 26, Judge Randy Crane of the U.S. District Court for the Southern District of Texas ruled in favor of the Consumer Financial Protection Bureau (CFPB) related to the…

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced it is transitioning to a single, online platform to receive questions from the public with the goal…

On July 26th, the Financial Crimes Enforcement Network (FinCEN) issued a two-page customer reference guide regarding the beneficial ownership reporting requirements under the Corporate Transparency Act (CTA). FinCEN encourages financial…

The Federal Deposit Insurance Corporation (FDIC) has published a list of frequently asked questions related to its final rule regarding Part 328. The rule, with a mandatory compliance date of…

The Iowa Real Estate Transparency Act, passed in response to the National Association of Realtor’s litigation settlement, became effective on July 1, 2024. While there are several changes to real…

On June 16, 2024 (and continuing) a series of severe storms, flooding, straight-line winds, and tornadoes caused significant property damage in several Iowa communities. On June 24, the Federal Emergency…

On June 21, the Internal Revenue Service issued Notice 2024-55, as required by the SECURE 2.0 Act of 2022, providing guidance on exceptions to the 10% additional tax (early…

On May 20-21 a series of severe storms caused significant property damage in several Iowa communities. On May 24, the Federal Emergency Management Agency (FEMA) declared four additional counties to…

On June 9, 2023, the Office of Foreign Assets Control (OFAC) announced its plans to retire the FTP server on or about June 10, 2024.  The FTP server is the…