About a year and a half ago I started a Compliance Masters Group after hearing many of my seminar attendees say, “I wish I could take you back to the bank with me.” My goal was to develop a more hands on approach to help walk people through what’s going on in the crazy compliance world, and to develop tools to help them prepare and comply with all the laws and regulations. Our Compliance Masters […]
Category: Uncategorized
CFPB What’s Happening & When It’s Happening
The Consumer Financial Protection Bureau (CFPB) has proposed thousands of pages of new rules during 2012. Everyone knows that final rules are expected soon, but it is generally not clear exactly what is going to happen and when is it going to happen. The following table summarizes what is expected from the CFPB and when the next action is expected. The information is largely based on the Spring 2012 Semiannual Regulatory Agenda published by the […]
UDAAP – LIST OF VIOLATIONS
The emphasis on Unfair, Deceptive and Abusive Acts or Practices (UDAAP) is increasing. Violations are being cited with increasing frequency. The civil monetary penalties being imposed are substantial. While all of the federal regulatory agencies focus on the issue, the most intense focus seems to come from the Federal Deposit Insurance Corporation (FDIC). While all of the FDIC’s regions appear to be focusing on the issue, the most intense focus appears to be coming from […]
HAPPY THANKSGIVING!
The Roman philosopher Seneca is credited with stating, “Nothing is more honorable than a grateful heart.” Since I always seek to be honorable, let me express my gratitude for all of you who have helped make this blog a success. You have provided us with over 20,000 visits to our blog in 2012. Thank you. If you need a dinner toast for today you may impress your friends and family with, “Here’s to the turkey […]
DOES THE CFPB REALLY WANT COMMENTS FROM COMMUNITY BANKERS?
The Consumer Financial Protection Bureau (CFPB) has cranked out more than 2,400 pages of new proposed regulations since July 9th. That is a lot to review in a short period of time. Let’s put this into context. The CFPB had two hours to draft each page starting from the date the Dodd-Frank Act became law. If you give the CFPB the benefit of the doubt and don’t start counting days until July 21, 2011, when […]