Bankers Alliance Compliance Corner

Editor's Note: The following was submitted by Bankers Alliance. LBA, through its subsidiary Louisiana Bankers Service Corporation, has partnered with Bankers Alliance to give banks access to three compliance-related programs. Click here for more information.


Q: Is an opt-out option required for fraud alert calls and texts?

A: The FCC does now require an opt out mechanism for fraud alert calls and text messages, as well as imposing limits to the frequency of these fraud alert calls and messages. Under the TCPA, "messages" are included within the definition of a "call.” Click here for the TCPA Cheat Sheet that offers an overview of these rules.


Compliance Alliance offers a comprehensive suite of compliance management solutions. To learn how to put them to work for your bank, call (888) 353-3933 or email and ask for the membership team. 


Do you know the types of transactions that are considered Electronic Funds Transfers? These include but are not limited to: 

  • Point-of-sale transactions 
  • Automated teller machine transactions 
  • Direct deposits or direct withdrawals 
  • Telephone transfers 
  • Debit card transactions 

Click here to see the Consumer Financial Protection Bureau reference.  

Review Alliance is an independent group of compliance specialists offering banks deep-dive audits of their existing transactions, recommendations about program enhancements or guidance on future safety and soundness. Virtual Compliance Officer was added in 2020—a new shared service-model using bank-dedicated compliance officers; perfect for monitoring and guiding your bank remotely. To learn how to put them to work for your bank, call (833)-683-0701or email and ask for the membership team.

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