The Compliance Resource team sends you greetings from sunny St. Petersburg, Florida! We’ve flown south to warmer temperatures to enjoy a few days of team building, meeting with our Board of Advisors to decide what we can offer you this year and beyond, and also to present a couple of important training sessions. We’re having a blast taking in the sights of beautiful St. Pete, from the stunning views, world-renowned art, and lovely beaches to […]
Category: Lending Compliance Update
WHICH WAY IS THE WIND BLOWING TODAY?
Some days the wind blows hot, other days it is cold. Some days the wind is hurricane force, others it s gentle breeze. Some days it blows out of the north, others days it blows from another point of the compass. Recently the FDIC announced the hiring of additional key leadership staff for the Division of Depositor and Consumer Protection (DCP). The FDIC Board of Directors approved the establishment of the new organizations in August, […]
Dodd-Frank Wall Street Reform and Consumer Protection Act
Congress has completed the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Next, the 2,300 page bill moves to the White House for the President’s signature, which is expected by July 21st. Then the real action begins: • An entire bureaucracy must be built for the new Bureau of Financial Protection and the new Financial Stability Oversight Counsel; and • Thousands of pages of regulations will be written. An area of particular concern […]
July 12, 2010 Lending Compliance Update
In a recent blog I reported my belief that work on the financial reform bill would be completed by the July 4 holiday. But obviously I was wrong. Congress did get some work done before the holiday. They renamed the bill the Dodd-Frank Wall Street Reform and Consumer Protection Act. They also fought a battle over funding. The bill would have resulted in $18 billion in new fees on large banks. Some in the Senate […]