Compliance

Compliance Events

IBA Compliance Conference

Friday, May 23, 2024

Virtual

Whether you are a full-time compliance officer or an internal auditor, or if compliance is one of your many hats, this conference will help you identify and manage cutting-edge issues that are central to a successful compliance or audit program.

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Compliance Peer Group

Friday, July 12, 2024

IBA Center for Banking Excellence, Springfield, or Live Streamed

The IBA’s Compliance Peer Groups provide an opportunity for bankers to meet in person and examine pressing issues constructively, exchange ideas, and share solutions among colleagues in a comfortable and professional environment. We will provide timely updates on a variety of topics for you to take back to your bank.

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Compliance Peer Group

Friday, October 11, 2024

The Regency Conference Center, O'Fallon, or Live Streamed

The IBA’s Compliance Peer Groups provide an opportunity for bankers to meet in person and examine pressing issues constructively, exchange ideas, and share solutions among colleagues in a comfortable and professional environment. We will provide timely updates on a variety of topics for you to take back to your bank.

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IBA Compliance Connection

Illinois bankers are constantly challenged with new laws, regulations, enforcement trends, and other pressing compliance concerns. The IBA is here to help! Your IBA membership includes access to members-only compliance resources, guidance on compliance inquiries, outstanding educational events and networking opportunities, a weekly compliance newsletter, and more!

Daily Coffee

DOL Raises Overtime Salary Thresholds. The Department of Labor has issued a final rule raising the “standard salary level” used to determine whether employees are classified as exempt from overtime pay. The rule initially raises the threshold to $43,888 per year (from $35,568) on July 1, 2024, with another increase to $58,656 per year on January 1, 2025. The rule also increases the pay threshold for the “highly compensated employee” test, and both the standard salary and highly compensated employee thresholds will automatically increase on July 1, 2027, and every three years thereafter.  View the announcement, final rule, FAQs, and more resources.

April 24, 2024

DOL Expands Fiduciary Standards to Cover 401(k) Advice. The Department of Labor has issued a final rule updating the definition of an investment advice fiduciary that owes a fiduciary duty to retirement plan participants, individual retirement account owners, and others. Among other changes, the rule extends fiduciary status to those providing one-time advice on rollovers made from a 401(k) to an IRA and investments in fixed annuities. The rule provides for staggered compliance dates through September 2025. View the announcement, final rule, fact sheet, and more information.

April 24, 2024

More Compliance News

Compliance Q&A

When does the 30-day deadline for sending notice of an altered check start to run, and how long does a depository bank have to respond?

Find Out the Answer!

IBA Compliance Connection – A Valuable Resource for IBA Members

4000+

Original IBA Q&As, together with relevant articles, court decisions, and more!

200+

Topic pages covering a broad spectrum of compliance matters, indexed by bank process and function, together with all relevant Illinois laws and federal regulations

1100+

IBA members have an exciting resource to help them — IBA Compliance Connection at GoToIBA.com — a free website for all employees of IBA member banks that will quickly become your “go to” source for Illinois banking compliance information, guidance and support — each and every day! Request access today!

Compliance Feed