AL ACAMS Chapter Presentation

Jay Postma, CAMS, CFCS, President and John Schmarkey, CAMS, CFE, BSA/AML Specialist were honored to attend and present before the Alabama ACAMS Chapter on Thursday, August 8, 2019 from 11:30am -to 1pm.

“MSB Compliance Risks and Red Flags”

Persistent fear and the resulting “de-risking” by banks has resulted in significant pain and anxiety for operators of lawful, compliant MSBs. Recognition of the market pain and resulting fee based revenue opportunities has some Community Banks reconsidering whether they might safely and profitably serve the MSB market.  "Fintech" MSB opportunities are also of significant interest.

Mr. Jay Postma, CAMS, CFCS and Mr. John Schmarkey, CAMS, CFE will explain: why consumers and businesses do business with MSBs rather than and in addition to banks; revenue potential in banking MSBs; how to evaluate, approve/disapprove, onboard, and monitor MSB relationships. Key risks and red flags related to MSB relationships will be identified as well as typical concerns during regulatory oversight. Time will be provided for your questions and interesting discussion of the compliance and regulatory issues related to MSBs.