Lessons Learned – Recent Lending Compliance Enforcement Actions
April 12, 2023REGISTER NOW
Every month the federal financial institution regulatory agencies publish lists of enforcement actions taken against financial institutions. Enforcement actions can include civil monetary penalties, consent decrees and cease and desist orders, to name a few.
Every enforcement action tells a story of a failure to comply and the actions required to remedy the situation. Every enforcement action is a lesson to be learned by other financial institutions. The actions required to cure the problems in one institutions are the actions required in other institutions to avoid the same problem.
Rarely are the identified problems unique. The stories are repeated month in and month out. Don’t be the next institution to fall into the same trap. Become aware of the problem and then look around to determine if the same problem exists in your institution. If the problem is present, self-detection and prompt corrective action generally results in less severe penalties. If the problem does not exist, take a few simple steps (policies, procedures and training) to assure the problem doesn’t occur in your institution.
This two-hour webinar is designed to make attendees aware of recent enforcement actions, the actions required in response to the action and the penalties or costs imposed. It is the hope and intent of Compliance Resource that armed with this knowledge attendees can avoid similar problems.
Recent enforcement actions include, but are not limited to:
- Flood penalties (Multiple cases every month.);
- Truth in Lending reimbursement (A regular on the list.);
- Equal Credit Opportunity Act;
- Fair Housing Act
- Redlining cases (These cases have risen rapidly in recent years. What is the current status?);
- Collection practices in violation of the Fair Debt Collection Practices Act (FDCPA) and the UDAAP (Just when you thought you were safe. FDCPA does not apply to a financial institution collecting its own debt, but UDAAP does apply to an institution collecting its own debt.);
- Loans to insiders in violation of the provisions of Regulation O (Basic procedures help eliminate most Regulation O violations, but never underestimate the deceptive nature of certain insiders.);
- Fair Credit Reporting Act
- UDDAP/UDAP issues related to interest-rate-lock process, forced-placed insurance, deceptive advertising, and more; and
- The list will continue to grow between now and the program date.
The program is designed for Loan Department management, Compliance Officers, Loan Officers, Loan Processors, Auditors, and others with responsibilities related to the origination and servicing of loans.
Register by December 30th and take advantage of our Early Bird Pricing!
All webinar registrations include a recording of the session that can be reviewed as needed.
Lessons Learned – Recent Lending Compliance Enforcement Actions has been submitted to ABA Professional Certifications for CE credit review and is pending approval. Once we receive notification of the credit approval, we will notify attendees.
Jack Holzknecht is the Founder of and the Senior Consultant at Compliance Resource, LLC. He has been delivering the word on lending compliance for 47 years. In 42 years as a trainer over 160,000 bankers (and many examiners) have participated in Jack’s live seminars and webinars. Jack’s career began in 1976 as a federal bank examiner. He later headed the product and education divisions of a regional consulting company. There he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by a number of state bankers associations. As a contractor he developed and delivered compliance training for the FDIC for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association.
April 12, 2023