Making the Case for MSB's
James DeFrantz Overview:
Money Service Businesses - Provide services to people who are otherwise not part of the financial system. These entries present an opportunity for good return while involving minimal capital.
Why you should Attend:
MSBs present an opportunity for significant profit while serving the community of the unbanked and underbanked.
Areas Covered in the Session:
- The types of MSBs
- Risks associated with MSBs
- The regulatory environment and compliance
Who Will Benefit:
- BSA Compliance and the Business Development Staff
Speaker Profile
James DeFrantz CRCM, CAMS, J.D. has 30 years of experience in financial service regulatory compliance. He has worked with money service businesses in the United States and internationally, including consulting with money remitters, fintech lenders, and foreign exchange firms. He is a specialist in compliance in consumer and real estate lending; BSA; CRA; Fair Lending; Consumer Operations; Non- Non-Deposit Investment Products; Note Department Operations; Assessment of ALL and Credit Approval Processes. He has served as a Senior Compliance Examiner at the Federal Reserve Bank in San Francisco; as an Analytical Manager at the Office of Thrift Supervision; and as a Commissioned National Bank Examiner at the Office of the Comptroller of the Currency (OCC). He has a Certificate from the Pacific Coast Banking School of Bank Management, a Juris Doctor from the University of San Francisco with a concentration in banking and finance, and a BA from Dartmouth College. He is a Certified Regulatory Compliance Management and Certified Anti-Money Laundering Specialist.