The latest America’s Credit Unions’ Compliance Blog posts on take a closer look at two supervisory/regulatory agencies: the CFPB and Financial Crimes Enforcement Network (FinCEN).

Specifically, the blog entries examine FinCEN’s deepfake fraud alert, a discussion on FinCEN’s enforcement authority, and a breakdown of CFPB findings on auto-finance in its 35th edition of Supervisory Highlights.

• “FinCEN: Deepfake Fraud Schemes Target Financial Institutions” looks at the recent alert issued by FinCEN to help financial institutions identify fraud schemes using deepfakes and outlines FinCEN’s red-flag indicators of the use of deepfakes.
• “Factoring in FinCEN's Enforcement Factors” examines FinCEN’s enforcement authority over credit unions, specifically, examining patterns in previous enforcement actions to advise BSA professionals on the best practices to take to management to remain in compliance.
• “CFPB’s Supervisory Highlights: Special Edition Auto Finance” discusses the CFPB’s findings on the current state of the auto-finance market. It also addresses several predatory practices identified by the bureau.

The Compliance Team provides new blog entries every Tuesday and Thursday. Subscribe to receive email updates from the Compliance Blog.