Lessons Learned – Recent Deposit Compliance Enforcement Actions

April 5, 2022



Register by March 11th and take advantage of our Early Bird Pricing!

All registrations to Compliance Resource webinars include five live connections AND the recording of the webinar (guaranteed for one year).

Lessons Learned – Recent Deposit Compliance Enforcement Actions has been submitted to ABA Professional Certifications for CE credit review and is pending approval. Once we receive notification of the credit approval, we will notify attendees.


Every month the federal financial institution regulatory agencies publish lists of enforcement actions taken against financial institutions. Enforcement actions can include civil monetary penalties, consent decrees and cease and desist orders, to name a few.

Every enforcement action tells a story of a failure to comply and the actions required to remedy the situation. Every enforcement action is a lesson to be learned by others financial institutions. The actions required to cure the problems in one institutions are the actions required in other institutions to avoid the same problem.

Rarely are the identified problems unique. The stories are repeated month in and month out. Don’t be the next institution to fall into the same trap. Become aware of the problem and then look around to determine if the same problem exists in your institution. If the problem is present self-detection and prompt corrective action generally results in less severe penalties. If the problem does not exist take a few simple steps (policies, procedures and training) to assure the problem doesn’t occur in your institution.


This two-hour webinar is designed to make attendees aware of recent enforcement actions, the actions required in response to the action and the penalties or costs imposed with the hope that armed with such knowledge attendees can avoid similar problems.


Recent enforcement actions, common violations, and/or potential errors, related to:

  • Electronic Funds Transfer
  • Unfair, Deceptive, and Abusive Practices
  • Bank Secrecy Act
  • OFAC
  • Marijuana-related business

The list will continue to grow between now and the program date as new enforcement actions and trends are released.


The program is designed for Deposit Operations, Compliance Officers, Auditors, Management, and others with responsibilities related to opening, maintaining, and servicing deposit related accounts and products.


Heather Schaefer

Heather C. Schaefer is Chief Compliance Officer and Vice President of First Financial Corporation in Terre Haute, Indiana, where she oversees the enterprise-wide compliance management program for The Morris Plan of Terre Haute and First Financial Bank, N.A.  Her main responsibilities include collaborating with the internal lines of business that Compliance supports to create, execute and sustain a program that can not only withstand rigorous examiner scrutiny, but also balances the need for regulatory compliance and risk mitigation with growth and income-generating initiatives.  Heather is active in the Indiana Bankers Association, where she regularly serves as moderator for the Compliance Roundtable and is a member of the American Bankers Association Regulatory Compliance Conference Advisory Board.  She received a Bachelor of Arts in International Studies from Hanover College, her Juris Doctorate from Valparaiso University School of Law and holds the Certified Regulatory Compliance Manager (CRCM) designation.

Drew McGarvey

Drew McGarvey is the Director of Risk Management and Compliance at Park Community Credit Union in Louisville, KY.  Drew obtained his undergraduate degree from the Kelley School of Business at Indiana University Bloomington. His main responsibilities include all of Compliance, BSA, Fraud, and Enterprise Risk Management Systems. He has been in the world of Risk and Compliance for over a decade.  During his banking career, he has obtained the Certified Regulatory Compliance Manager, NAFCU Certified Risk Manager, and Credit Union Compliance Expert designations while working with institutions ranging from $150 million to $1.5 billion.

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Price: $0.00
Start Time: 2:00 pm EDT
End Time: 4:00 pm EDT

April 5, 2022

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