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Daniel P. Stipano extensively quoted in American Bankers Association Risk and Compliance article, “Avoiding a risky customer conundrum”

American Bankers Association Risk and Compliance

Daniel P. Stipano

Daniel P. Stipano was extensively quoted on October 10, 2019 in an American Bankers Association Risk and Compliance article, “Avoiding a risky customer conundrum,” which discussed several key principles for higher-risk banking customers. The article stated, “Imagine a consultant based in Puerto Rico. She deposits mostly checks from her different clients, and she wants to open an account at a Great Lakes area bank. Would the bank consider her risky as a customer, and if so — how risky? It all depends on how the consultant and her business fits into the bank’s broader customer risk framework.”

Stipano noted, “None of this is written down anywhere. There’s nowhere you can go to get an answer because it’s not that prescriptive. And yet you’re subject to pretty intense scrutiny by your examiners.”

Click here to read the full article.