Commercial lenders have a reputation for thinking they don’t need to worry about compliance and fair lending. A commercial lender’s bottom line is the bottom line. They don’t want to “waste” time on anything that doesn’t generate revenue.
The battle over Consumer Reinvestment Act (CRA) modernization is heating up as the Federal Reserve shared its plans for CRA reform and the House Financial Services Committee held a hearing assessing the potential winners and losers the OCC/FDIC CRA modernization proposal. Spoiler alert: The OCC/FDIC plan was subject to a lot of criticism.
Any time a regulator shares its observations of where violations are occurring and what you can do to prevent them, it’s worth taking note. This includes the Fed’s December 2019 Consumer Compliance Supervision Bulletin. The publication’s goal is to increase transparency into what the Fed is seeing in the consumer compliance arena and offer practical advice for reducing risk—and this month fair lending risk related to internet-based marketing takes a front seat.
After months of speculation about modernizing the Community Reinvestment Act (CRA), the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp (FDIC) finally released their notice of proposed rulemaking for the regulation’s first overhaul in 25 years.
(An update on Dodd-Frank’s Section 1071) Ever since Dodd-Frank was enacted in 2010, we’ve been waiting on the Consumer Financial Protection Bureau (CFPB) to implement Section 1071, which amended the Equal Opportunity Act to require financial institutions to collect and report information about credit applications submitted by small businesses and women-owned or minority-owned businesses.
The requirements of a compliance management system (CMS) seem relatively simple. The primary functional regulators agree that there are three crucial elements of a good CMS: Board and management oversight of change management, risk management and corrective actions A formal compliance program with policies, procedures, training, monitoring and complaint responses An audit function
Why do Home Mortgage Disclosure Act (HMDA) Loan Application Register (LAR) violations happen? Weaknesses in compliance management systems (CMSs), according to Matthew Nixon, program officer in the National Credit Union Administration’s (NCUA) Office of Consumer Financial Protection.
Your institution might be using compliance analytics software and services for Fair Lending, HMDA, CRA, or Redlining so that it can recognize risks, increase transparency and grow smartly. But are you making the most of that data from a risk management perspective? Not if that data is only used by the lending, credit, or compliance departments. While compliance and lending are the most closely linked to Fair Lending risk, the truth is that Fair Lending extends into many operational areas. From marketing to the location of new branches to M&A, Fair Lending risk has a role to play in decision making.
While those tracking the mortgage industry have been digging through the new, expanded Home Mortgage Disclosure Act (HMDA) data, other types of Fair Lending data have been making news. This time instead of race or geographic location, it’s an issue of gender. The New York State Department of Financial Services is investigating whether the Apple Card discriminates against female applicants, offering them substantially less credit than male applicants.
According to FDIC Chairman Jelena McWilliams, there is a chance that the agencies will end up not reaching an agreement on CRA modernization. We catch you up on what she means and what could end up happening.
2019 has been a big year for Fair Lending news. In this post, we catch you up on the latest.
The NCUA defines a compliance management system as a credit union’s overall approach to managing compliance risk. What does that mean for you?
After a summer spent visiting communities to see where the Community Reinvestment Act (CRA) has succeeded, and understanding where it can be improved, Comptroller of the Currency Joseph Otting said he is hopeful that a joint CRA modernization proposal will be issued on an interagency basis this fall.
One of the buzzwords in business these days is “agile.” If you’re looking to learn more about what an agile approach is, and how it can be used in compliance, this post is for you.
In case you missed it, September 26th was National Compliance Officer Day. We're thankful for the important work compliance officers do every day, and here's why! [Read: 9 Reasons Why We Are Thankful For Compliance Officers] Are you still analyzing your Fair Lending data manually? If so, it’s time to consider a different approach. Here are the benefits of replacing a manual process with a software solution.
September 26th was National Compliance Officer Day! The important work compliance officers do never stops, and should be celebrated every day, not just once a year. Here are 9 reasons why we are thankful for compliance officers, and why your coworkers should be too!
We are entering the last quarter of 2019, and now is a perfect time for compliance professionals to reflect on the changes we’ve seen so far. Here are five fair lending lessons learned this year.
Last week, on August 30, the FFIEC released the 2018 HMDA data, aggregated into one file. This HMDA data is a powerful and essential resource for the industry. Here are 7 fast facts your financial institution need to know.
Vacation time is over - at least for now - and school is back in session! For many of us, that means work is also back in full-swing. Here are three essential, timeless tips for you to remember to ensure that you ace your compliance goals in 2019 and beyond.
The CFPB released their annual Fair Lending Report to Congress earlier this summer. Here is the second part of our two-part blog about the regulatory insights gained from the 2018 Fair Lending Report.
The CFPB released their annual Fair Lending Report to Congress earlier this summer. Here is the first of our two-part blog about the regulatory insights you may have missed from this important compliance update.
The next time you sit down to relax with a good movie or show, consider one of these! Each of these 13 movies and TV shows relates to banking compliance, and will bring a new perspective on your job as a compliance professional.
Interested in learning how to implement three lines of defense into your compliance management system? If you're like most compliance officers, it can be a real challenge. That's why we spoke with one accomplished compliance professional, Melissa Komarnitzky, CRCM, CAMS, about her experiences and insights. Read on to learn a few best practices for how to create three strong lines of defense in your CMS.
Interested in learning more about how to define a strong compliance management system, and details on those three lines of defense? This post is for you.
Building a strong compliance management system is one of the top priorities for any compliance officer. In this post, you'll learn the essential elements for any successful CMS.
Earlier this week, the CFPB announced a $25 million in fines and restitution with the nation's largest debt-settlement services provider. This recent CMP highlights the potential changes to the Fair Debt Collection Practices Act, one of the centerpieces of Fair Lending compliance. Learn more about the CMP - and what it means for your debt collection practices - today!
The Independence Day holiday is coming up! As we prepare to celebrate the U-S-of-A tomorrow, we wanted to have a little fun with compliance today. In this post, you'll learn what is sparking fireworks in Fair Lending compliance this year. This is the future of Fair Lending compliance and enforcement! Especially after the recent enforcement action, this is news you'll want to know.
June brought banking compliance professionals two Fair Lending actions, the first of such regulatory updates in months. Do these two regulatory actions signal a changing approach to Fair Lending compliance enforcement? Read on to find out.
Learn three essential trends shaping the compliance industry we've discovered after speaking with industry pros, compliance officers, lobbyists and regulators! These three key takeaways are important for every banking compliance professional to consider as they move forward in a rapidly changing regulatory environment.
There are more than 50 sessions at next week's ABA Regulatory Compliance Conference, plus countless more events. To make sure you don't miss a thing, here are 10 sessions we're looking forward to most to consider adding to your schedule! Prep for success with this handy guide.
There are big changes coming to TRUPOINT Partners over the next few weeks and months. Here’s what all those changes might mean for you.
Every year, the American Bankers Association hosts the Regulatory Compliance Conference. This is one of the premier events for compliance professionals in the country, and this year, it’s happening in New Orleans! From what to pack, to where to eat, this is the complete guide to how to have a successful ABA RCC.
The banking sector has undergone major changes over the last few years, and is set for many more. The result? You guessed it: changing risk exposure. Here’s what the OCC has to say about the biggest risks facing the banking industry.
Although the compliance landscape has been relatively stable lately, it remains essential for compliance pros to keep their wits sharp. In this article, you'll gain five valuable, and free compliance resources that you can download and share with your colleagues. One of them is even a brand-new Fair Lending training module that you can use at your financial institution!
Here are 10 best practice tips to help you make the most of your next banking industry event! Plus, you'll learn valuable ways to make sure the rest of your financial institution can also benefit from these events. From packing to networking, these experience-tested guidelines will ensure your next conferences is a success.
The most frequently asked question we receive about HMDA and CRA submission is not how to do it, but whether you need a software solution to do it. If you're wondering why you might need a HMDA or CRA transmittal tool, this post is written just for you! You'll learn all the basics of the HMDA and CRA transmittal process, what tools are on the market, and the benefits of them all.
Financial institutions around the country are anticipating the release of additional HMDA data in early May. New data is coming; it will be different and have more depth. This blog will cover what will be included, what you need to know, and how to prepare for the May 2019 HMDA data release.
Learn these 9 important changes to the compliance landscape that may impact your bank, credit union, or mortgage company. You can't afford to miss these banking compliance headlines! Read on to learn the details, and take the right steps to prepare.
Fair Lending is a key area of regulatory scrutiny, and one that garners a lot of public attention. In this regulatory environment, it really pays to know your risk. One of the best ways to gain a clear and objective understanding of your Fair Lending compliance risk is through a Fair Lending risk assessment. Learn everything you need to know about them and get a free Fair Lending risk assessment matrix here!
Some areas of banking compliance are consistently seen as more difficult, more complex, more confusing, or more vague than others. While individual compliance pros may have a personal list of the most challenging areas, here are 7 compliance topics that are widely regarded as complex - with tips and tricks to help make them easier for you!
If you’re reading this, chances are you’re aware that partnering with a vendor can deliver valuable efficiencies, but also presents risks. In this post, you’ll learn some of the top risks that third-party vendors can pose to your FI.
Since the Final HMDA Rule was released in 2015, the banking sector has undergone dramatic changes. In this article, you’ll learn how the extended HMDA data, sometimes referred to as HMDA Plus data, impacts Fair Lending monitoring and analysis. Navigating this rapidly evolving compliance landscape is a challenge; this post will also show you a few ways that best practice institutions are responding.
Bitcoin. Watson. Millennials. These are just a few of the buzzwords that have come to embody the important changes facing the financial industry. Here are 5 banking trends to watch.
If you're responsible for HMDA LAR submission, you know how stressful and challenging it can be. If you're researching your options for HMDA submission software, here are four of the top choices.
If you're like most financial institutions, the March 1 HMDA filing deadline is a source of stress! Now that the deadline has passed and your HMDA LAR has been submitted to the federal government, here are 10 steps you need to take. These steps will help you reduce your risk, improve compliance, and even help to foster growth.
In this post, you'll learn more about Fair Lending and discrimination. In addition, you'll see five examples of potential Fair Lending discrimination. How many of them can you correctly identify?
If you heard the news that TRUPOINT and Ncontracts have joined forces and wanted to learn more, this post is for you! In it, we'll be answering a few of your top questions and providing additional details about the partnership.
UDAAPs, also known as "unfair, deceptive, or abusive acts or practices," are a key aspect of consumer compliance and continue to be a regulatory focal point. This post will help you learn how to reduce your UDAAP compliance risk, and avoid potential violations. Learn three tips for reducing your risk, and even get access to valuable UDAAP resources!
UDAAP is an important area of focus for compliance officers and financial institutions, and continues to make headlines. One of the most challenging areas is how to define unfair, deceptive, and abusive acts and practices for UDAAP compliance. If that's a challenge you're facing, this post is for you! In this post, you'll learn how to define UDAAP, and a few best practices for managing your UDAAP compliance risk.
Tomorrow is Valentine's Day! In the spirit of the holiday, we're excited to share five real reasons to love your HMDA data. Since HMDA submission is just around the corner, now is an extra-important time to show that data some love.
If you're responsible for CRA compliance, it's likely you've wondered whether a loan might qualify as a CRA small business loan. It can be a bit confusing, but this blog post can help. Read on to figure out what can be considered a small business loan for CRA compliance purposes.
Learn the four phases that all HMDA data goes through in its yearly lifecycle, plus best practice strategies to make each stage a success. You'll also get a free infographic illustrating the HMDA data timeline that you can print and share with your team.
It seems like there is a regulatory update to the Home Mortgage Disclosure Act every minute! Just last month, the CFPB released updated information about the HMDA data that will be disclosed in 2019. If you're a HMDA reporter, this post is for you. Plus, you'll also get access to a new-and-improved version of our insanely popular Guide to the HMDA Changes! Don't miss it.
New year, new growth, new challenges, and maybe even new vendors. If you're in compliance, you've heard of other companies that claim they can help, and you may have seen their software before. In fact, you may even be a subscriber of one of those softwares today. In this post, you'll learn some key questions to consider as you are researching solutions.
As 2019 heats up, we're focused on making sure that you have the resources you need to be successful. Here are 11 valuable compliance resources you'll want to bookmark. Make sure that you check back periodically. As time passes, we'll be updating this post with new content!
As compliance professionals kick off the new year, it's a perfect time to consider some of the major trends that are changing the industry. In this post, you'll learn five of them, and what they might mean for your bank, mortgage company, or credit union.
It's the holidays! We hope that this compliance-themed holiday poem brings you joy and good cheer this season. Merry Christmas, Happy Belated Hannukah, Happy Kwanzaa, and warm wishes for the new year to all of our customers, friends, colleagues and partners. You have helped make this year incredible. Now, '"twas the Monday before Christmas, when all through the bank..."
In this free industry report, you will learn key statistics that reflect the state of compliance in 2018! Get this free Compliance Pulse report today.
Do you know your UDAAP compliance risk? For all types of financial service providers, UDAAP risk management remains a focal point. In this blog, you will learn about a recent UDAAP settlement, and how to prepare for compliance success in 2019.
As the banking industry changes, one generation finds itself at the center of these debates: millennials. In this post, you will pinpoint 15 of the unique challenges of banking millennial customers and learn how to address those challenges at your financial institution. Plus, you'll get a chance to win $150 by a completing survey about the state of compliance in 2018!
If you're a financial professional, this is your chance to provide your feedback and enter to win $150. Just take this 12-minute survey and tell us about your experience in 2018. Click here to take the survey!
With this free 2018 Edition of the HMDA Fair Lending report, you will learn 7 powerful data-driven insights. From gaining a clearer understanding of your risk to finding opportunities for good PR, this report can deliver real benefits. Learn all seven of them here, and get the free HMDA Benchmark report today!
Social media is bigger and more important than ever, but for many financial institutions, it’s never been harder to keep up. In this post, we’ll provide you with tips on how to better manage your social media presence, whether you’re one person with a million other things to do or a full-time marketer at a financial institution.
Your bank's branch network is a serious investment. How do you make sure that the investment is the right one, and in the right scale? Intelligent branch planning can provide the answer, and save your institution millions of dollars in the process. Here are five ways, backed by the numbers, that branch planning can help you save money and prepare to grow.
It's Halloween, and you know what that means! The compliance ghouls, ghosts, and goblins are out to play. In this article, we will be sharing 5 recent stories that are guaranteed to give you the compliance creeps! You'll learn about a recent settlement, another community group's lawsuit against a bank, and a Fair Lending issue that is rising from the grave. Whether you're a compliance professional or a leader of a financial institution, these stories will give you a helpful survey of the compliance landscape. Get ready for tricks - and a treat!
This year, the Community Reinvestment Act has been a headline-grabber. From changing guidelines to full-scale CRA modernization, it's been all over the news. Here are a few recent headlines that help illustrate the future of CRA compliance. Banks of all sizes should make sure that they're prepared for what's to come. Based on the news, credit unions and mortgage companies will want to pay attention, too.
Having third-party vendors has lots of benefits, but it's not always easy to manage those relationships. In this post, we'll be talking about how to have the most successful relationships with outside vendors or partners. From negotiations to risk management, here are a few tips we've learned along the way.
If you've ever wondered what we really do here at TRUPOINT Partners, or if you've wondered whether we can help you, then this is the post for you. In it, you'll learn exactly how TRUPOINT helps financial institutions comply and grow.
It's October, which means that budgeting season at your financial institution is probably in full swing. In this post, you'll learn 7 tips for creating a better budget for you bank or department. Get ready to learn how to make the most of the budget you have, and get the budget you really want.
It's back-to-school season! In that spirit, we're excited to release this Ultimate Compliance Glossary. In this post, you'll learn the 200+ compliance key terms, plus how to get the glossary!
In this season, as kids go back to school and adults begin to prepare for the close of another year, we're going back to compliance basics for a few quick refreshers. On our list: Regression Analysis. In this post, you'll learn everything you need to know about Fair Lending Regression Analysis. In it, you'll learn who Regression Analysis is a good fit for, when and why to consider it, and much more. In keeping with the back-to-school theme, you'll also have a chance to get a refreshed, updated Fair Lending Regression Analysis Primer.
The CFPB just released the details on the much-anticipated HMDA small filer exemption. Do you qualify? Read on to learn the basics of the updated HMDA rule that will guide your HMDA Submission in 2019, and learn what it means for you.
It's "Back to School" season, so this month, we'll be covering the Compliance Basics. One of the most fundamental regulations to today's compliance landscape is the Fair Housing Act. As this landmark legislation turns 50, here are a few ways you can celebrate.
Yesterday, the OCC released an Advanced Notice of Proposed Rulemaking that outlines their efforts to modernize the Community Reinvestment Act. Since the OCC regulates slightly more than a fifth of all active banks in the US, this change has big implications for the industry. In this article, you'll learn all about what the ANPR says, and what it might mean for your bank - even if the OCC isn't your regulator.
Yesterday, the OCC released their hotly anticipated Advanced Notice of Proposed Rulemaking. In this post, you'll read all 31 questions the OCC is asking the industry and the public.
Last week, the Department of Housing and Urban Development announced a formal complaint against Facebook for alleged "digital redlining." This story has valuable insights to offer financial institution leaders - even if they aren't immediately evident. Learn the three lessons we've learned from this formal complaint.
In the most recent bulletin from the Office of the Comptroller of the Currency, the regulator explains how and when CRA ratings can be downgraded. In this blog, we'll get into this breaking news.
Last month, the Federal Reserve Board released a brand-new compliance bulletin. If you've been following the news, you won't be surprised to learn that Redlining risk was the headliner. In this article, you'll learn what the regulators had to say about managing your Redlining risk, and a few warnings about what they're looking for.
In the compliance world, Redlining remains a primary area of focus. Regulatory agencies, no matter their politics or priorities, agree that Redlining hurts communities and stifles growth. We have heard through the grapevine that some examiners are looking hard at Redlining exposure. In this article, you'll read 11 headlines that illustrate the multiple facets of Redlining - and the media's focus - today.
In this post, you'll learn how to tell if your regulatory compliance program is reactionary or proactive! You'll also learn why compliance is still critically important, and ways to improve your lending risk management.
Earlier this month, news hit of a Fair Lending settlement with a financial institution in New York. This one is interesting for a few reasons. In this post, you'll learn all about the settlement, and what it might mean for you.
In this era of rapid regulatory updates, intense politicization, and changing requirements, you may feel like you're not sure who the major players are, and what we can expect in the future. If that's the case, this blog post will help.
The phrase on every compliance officer's lips is "CRA modernization." In this post, we'll share a few important news items, and outline what you can expect - and when.
One of the biggest stories in the banking and compliance industry over the last few months and arguably over the last couple of years was TRUPOINT’s introduction of its Branch Strategy Solutions...just kidding! Jokes aside, on May 24th of this year, President Donald Trump signed into law bill S. 2155, commonly known as “Economic Growth, Regulatory Relief and Consumer Protection Act.” This law will roll back certain portions of the Dodd-Frank Act, which was passed earlier this decade. This is important because the new law is NOT an entire repeal, and in fact, has sparked a couple of myths that we'll be busting here.
The American Bankers Association's Annual Regulatory Compliance Conference kicks off this weekend in Nashville. If you'll be attending, this is the post you need to read to make sure you get the most out of the conference. In it, you'll learn the sessions to attend, local restaurants to try, and anticipated highlights of the conference! Of course, that includes visiting TRUPOINT at Booth 610 - but we'll tell you more about that later.
Women in male-dominated industries tend to share the same kinds of challenges: lack of wage equality, glass ceiling, limited number of role models, and even outright sexism. In post four of our "Beyond Banking" series, you'll learn some of the unusual advantages to being a woman in the banking workforce, and how you can leverage those to help solve other gender-based problems.
Here are the top 7 most buzzworthy headlines about compliance, banking, and personal development that from May 2018. Take a look, and stay up-to-date on the breaking news.
For many bankers, no matter their role, making a big presentation at the Board of Directors meeting can be exciting at best and stressful at worst. In this post, the second in our "Beyond Banking" series, we'll be talking about new ideas to help you grow in your role and expand your skill-set beyond banking into leadership, negotiations, personal success, and more! In particular, this post will focus on practical tips you can use to ace your next Board meeting.
In this post, the first in our "Beyond Banking" series, we'll be talking about some of the more personal aspects of banking. We will talk about things like leadership, culture, diversity, conflict-resolution, and in this post, negotiation. Whether you're a natural negotiator or are working to improve your skills, you'll learn some new tips to help you walk away from the next conversation in a better position.
In compliance, there's usually some grey area that might not be precisely "on the map" - and some of those areas are more risky than others. In this post, you'll learn about a tricky area of compliance that exists between REMAs, Redlining, and CRA - and how to navigate it.
The OCC and other regulators have made it clear that Community Reinvestment Act (CRA) compliance is a top priority in 2018. Specifically, regulators are looking to implement big changes to the decades-old regulation. Have you heard the latest?
The 2017 Home Mortgage Disclosure Act Loan Application Register is public - four months earlier than usual! Do you know what the public HMDA LAR data says about you? Here are 3 mortgage lending trends to watch in 2018.
Complaint management is an important part of your financial institution's efforts to comply and grow. There are many potential benefits of consumer complaint management, such as more quickly identifying potential issues, building better relationships with consumers, and proactively managing risks. Here are 5 factors that your consumer complaint program needs to succeed.
Experts put the likelihood of Community Reinvestment Act modernization somewhere between "possible" and "likely." That means it's time to make sure you understand the changes on the table, and what they might mean for you. In this post, we will outline the four CRA recommendations made by the Treasury Department, and how they could impact your CRA compliance program.
Mergers and acquisitions are an important reality of the banking landscape today, and we're expecting to see a renewed wave of activity over the coming months driven by a rising SIFI threshold. If your bank is considering a merger or acquisition, you owe it to yourself to read this post and learn why compliance really matters to the success of the deal.
File this under: News You've Been Waiting For... Last week, FinCEN published the "Frequently Asked Questions Regarding Customer Due Diligence Requirements for Financial Institutions." As we approach the implementation deadline for the Customer Due Diligence/Beneficial Ownership next month, it's good news that the FAQs are finally out. Learn more about what's included and where to find them in this post.
As a financial institution, it's essential that you know your Redlining risk. In fact, Redlining remains one of the top areas attracting attention right now. In this post, learn how to understand your Redlining risk in just three simple steps.
If you're a banker, or you work in finance, then you've probably heard at least half of these buzzwords. But do you know what they mean? Learn the meanings of these common and not-so-common keywords that banking and finance professionals need to know.
The public HMDA LAR could be released as soon as next week. Are you prepared for Fair Lending and HMDA compliance with this accelerated timeline? Here are 7 videos to help you learn and prepare.
If you have a pulse and work in compliance, chances are you spent the beginning of March working to get your HMDA LAR data submitted. Knowing that, we can’t blame you if some of the major headlines in the banking and compliance world slipped past your radar!
Now that your HMDA data has been filed, you can relax a little bit. Or can you? In this post, you'll find out what's on the compliance horizon, and what you need to do about it. In addition, you'll also get access to a free post-HMDA submission Fair Lending compliance checklist.
Your bank or credit union's growth plans in 2018 and beyond absolutely depend on your branch strategy. That said, the future of branch banking is more complex and the function of branches is changing. In this post, you'll see into the future of bank branches, and learn what it means for your financial institution's growth strategy.
When it comes to CRA compliance, your so-called "performance context" could be a source of uncertainty. What is it exactly? What does it mean for my bank? How should I create it? In this post, we will demystify this key compliance concept, and share links to 10 helpful resources to help you understand it better.
The Community Reinvestment Act (CRA) is a big part of consumer compliance today - and has been since the late 70s. As you work towards compliance success, it's important to keep an eye on your CRA performance and redlining risk. After all, your CRA exam ratings are public!
One incredibly creative and clever compliance professional posted this helpful, fun rap about CDD requirements online. Read her training rap, and learn more about Customer Due Diligence requirements here.
Now is the time to consider your growth goals and risk exposure, and develop strategies that will lead to your success. As we all know, good compliance is good business. But it's also true that good business can be good for compliance! Here, you'll learn five common growth and compliance related problems, and how a better branch strategy can help you solve them.
It's the start of 2018 and you're busy. That's why we've pulled together 5 trends in finance and banking that you may have missed. From CFPB updates to branch strategy, we'll share some great articles and tell you what it means for you.
Yesterday, TRUPOINT hosted a quick webinar to cover the 5 most frequently asked questions we're receiving about the final HMDA rule. We get these questions almost every day, and even though they're basic, we're sure that you'll find them helpful.
HMDA Plus, or 2017 Final HMDA Rule, changes will have a distinct impact on Fair Lending exams in the future. In this post, we will discuss how updates to the Home Mortgage Disclosure Act are likely to change Fair Lending exams in 2018 and beyond, and how you can prepare.
In this blog post, you'll learn a few of the most important steps of implementing the new HMDA rules, and see links to all of the most important HMDA resources. Use these steps as guidelines to help ensure your success with implementing the new HMDA rules.
In this post, you'll find at least 20 regulatory compliance resources designed to reduce the burden of compliance risk management. It is by no means comprehensive, but we're confident that you'll find it valuable and learn at least one new tool to make your life a little easier.
As 2017 comes to a close, let's take a few minutes to review some of the most popular blog articles of this year. You'll learn about CRA, Community Development, UDAAP, and of course, Fair Lending and Redlining.
Do you have a strategy for Community Reinvestment Act compliance? You should. It's an important indicator to examiners that you are serious about CRA compliance. Learn more about the 8 elements of a strong CRA strategy here!
The regulatory agencies have released amendments to the Community Reinvestment Act that will more closely align that regulation's requirements with the new HMDA rule. Here are the basics of what you need to know.
Whether you're a Compliance Manager, Loan Officer, or Bank President, here are 5 free technologies you should be using to increase productivity, solve problems faster, and reduce stress. Best of all? They're all free.
Last month, the regulators hosted the annual Interagency Fair Lending Hot Topics webinar. In it, they talked about HMDA, Fair Lending analysis, consumer lending, and more. Read on to learn pro tips from the webinar.
A strong tone from the top is essential for compliance success. In this post, you'll learn 5 ways to show your CEO and Senior Management why compliance is important, and help improve your financial institution's culture of compliance.
The cost of compliance is rising steadily for financial institutions nationwide. Since it's budgeting season, now is the time to learn a little more about rising compliance costs, what's driving them, and how the best banks are responding.
The word on every compliance officer's lips these days is "HMDA." Here are 5 tips to help you prepare to navigate the challenges of the upcoming HMDA compliance changes.
From facing the upcoming HMDA changes to trying to get a bigger compliance budget, there are plenty of potential frights in your risk management. This Halloween, make sure that these 5 ghouls, ghosts, and goblins aren't haunting your consumer compliance program. If any of these problems are plaguing your program, you'll learn how to get rid of them - with just a little practical magic.
Expanded regulations and heightened scrutiny have urged financial institutions country-wide to prioritize compliance efforts. Given the complex nature of consumer compliance and risk management, compliance officers are challenged to build multi-faceted programs that ensure Fair Lending across the organization. But developing an effective compliance program is tough -- and the stakes are high. There’s not a lot of room for failure, and you’re already pressed for time.
When your compliance budget is limited, it’s natural to assume that the cost of purchasing a Fair Lending software is simply too expensive for your institution. You’re already shelling out for training programs, resources and other tools to ensure that your Fair Lending strategies are on track, and quite frankly, getting leadership buy-in for another expense can be challenging. But do you know the potential cost of not using a Fair Lending analysis software?
Earlier this year, we conducted a quantitative Customer Happiness Survey wherein we asked every TRUPOINT Analytics user to tell us how they used the software, and if they liked it. The results were astounding. If you're a current customer, you may learn a new way to leverage the platform. If you're in the market for compliance software, you're probably looking for product reviews from others in the industry. See what real TRUPOINT Analytics customers say about partnering with us on Fair Lending, HMDA, CRA and Redlining compliance analysis.
Deadlines, meetings, coordination, analytics, reporting, regulation updates -- the list of responsibilities for compliance professionals in financial institutions today seems endless. Not to mention the fact that you’re operating in a high-risk and highly complicated industry, which makes accuracy and attention to detail paramount.
In September, the DOJ released an annual Fair Lending report. The report showcased some of the Department's priorities for the past 12-18 months. Here are those priorities, plus some additional data points you need to know. The top takeaway: Redlining compliance is still a primary area of scrutiny.
Contrary to what you might think about LinkedIn, this popular social media site is not just for job seekers and recruiters. It’s a valuable platform for many different types of businesses and professionals. Of course, that’s IF you know how to use it appropriately and effectively. As a compliance professional, there’s much to be gained by leveraging LinkedIn for your financial institution.
Last Thursday, Sept. 28, the regulators released last year's public HMDA LAR. When the public HMDA LAR is released, it sparks a lot of Fair Lending compliance activities. But which activities are the right ones - and why are they so important?
Welcome to part two of the top 13 benefits of using a HMDA analysis software to improve your Fair Lending compliance! You already know why data analysis is important. Now learn six more ways that HMDA software can help.
Leveraging a HMDA software for your data analysis and risk management can yield surprising benefits for your Fair Lending compliance program, and institution as a whole! Read on to learn how today.
The CFPB is expected to release their HMDA data submission tool in the upcoming months. In this post, we'll discuss some key facts and features about the new HMDA Platform, and what it might mean for you.
Fair Lending and Redlining compliance remain key regulatory priorities in 2017 and 2018. As you work to build a strong Fair Lending and Redlining compliance management system, there are a few things to keep in mind. In this article, you'll learn how to build a strong Fair Lending and Redlining compliance management system to help reduce risk exposure.
As the summer comes to a close, you may be among the many compliance officers nationwide returning from vacation and settling back into the office. Here are 9 fresh compliance articles published this summer that you may have missed, and what they mean for your financial institution.
In September, the regulators will release the public HMDA data. For many institutions, this will mean analyzing your HMDA data and comparing to peers and benchmarks to identify potential risks. While we're not naming any names, this time of year also means we hear a lot of excuses for why financial institutions aren't analyzing their HMDA data. Here are the top 10 worst excuses for not analyzing HMDA data regularly - and why they're risky. Not only will you learn why data analysis is important, you'll learn some key data points to consider.
Redlining compliance remains a priority for regulators, and Redlining risk management remains a key responsibility for financial institutions nationwide. As we've reported, data analysis is central to Redlining compliance risk management. In this post, you'll see proof that the regulators are focusing on Redlining, reasons why Redlining data analysisis essential, and most importantly, 7 ways to analyze your data for Redlining compliance risk. Let's jump right in.