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On January 20, 2021 President-elect Joe Biden is scheduled to be sworn in as President of the United States. Financial institutions are accustomed to the ebb and flow of politics on banking regulations; most notably, the last Democratic administration oversaw the implementation of the most substantial changes to bank regulations in recent history. With the recent Trump administration regulatory enforcement and issuance of new rules significantly declined. As we enter a new era with President-Elect Biden the pendulum is expected to swing again. Perhaps contributing to the swing, the Democratic Party already controls the House of Representatives. Depending on the outcome of two run-off elections in Georgia, the Democrats have the chance to complete the Blue Wave by taking control of the Senate. What do these political changes have to do with bank compliance? Changes will result from new leadership in the White House. Democratic control of both houses of Congress would ensure even more significant changes.
As the New Year unfolds there may be changes in:
- The leadership in and legislation coming from Congress; and
- The leadership and the supervisory and enforcement practices of the regulatory agencies.
This discussion provides projections from industry experts on the direction of bank compliance issues under the new presidential administration.
You will receive presentation slides outlining key points during the program, which serve as a reference tool after the program.
Upon completion of this recording you’ll understand:
- Who will likely control leadership positions in the House and Senate;
- Who will likely hold leadership positions in the:
- Comptroller of the Currency;
- Federal Reserve Board;
- Federal Deposit Insurance Corporation;
- Consumer Financial Protection Bureau;
- Federal Trade Commission;
- The projected legislative and regulatory agenda for
- Lending compliance issues;
- Dodd-Frank Section 1071 – women- owned and minority-owned business reporting
- Payday Lending
- Fair Credit Reporting Act;
- Fair Debt Collections Practices Act;
- Fair Housing;
- Community Reinvestment;
- Rate caps;
- Affordable mortgages
- Deposit compliance issues
- Overdraft rules;
- Bank Secrecy Act and Anti Money Laundering;
- Other banking issues
- COVID issues;
- True Lender;
- Postal Banking;
- Credit bureaus – enforcement and creation of public credit bureaus;
- FinTech Charters;
- Rent-a-bank issues;
- Lending compliance issues;
- How supervisory and enforcement polices in the agencies might shift.
The recording is designed for senior management, lending management, operations management; risk management, the compliance officer and compliance department personnel, and audit staff.
Deborah L Crawford is the President of Gettechnical Inc. a Louisiana based training company. She has been an instructor and a banker for over 30 years. She obtained her bachelors and master’s degrees from Louisiana State University. Her specialty is the deposit side of the financial institution including BSA, IRAs and deposit regulations. Over the years she has been an instructor for many state associations and leagues.
Jack Holzknecht is the CEO of Compliance Resource, LLC. He has been delivering the word on lending compliance for 45 years. In 40 years as a trainer over 150,000 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.
Matthew (Matt) Stone is a partner at Chapman and Cutler LLP. He was formerly an associate general counsel for a $34 billion primarily Internet bank that is part of a Fortune 100 financial services organization, where he supported the deposit products and operations functions of the bank, including the review and negotiation of agreements with key vendors.
Matt began his banking career in 1993 as an examiner with the Iowa Division of Banking. Prior to attending law school, he held audit and compliance officer roles with two Iowa community banks and was a regional marketing officer for the Federal Home Loan Bank of Des Moines. After law school, Matt was an associate counsel for Chapman and Cutler LLP and Barack Ferrazzano Kirschbaum & Nagelberg LLP, each in Chicago, Illinois, where his practice focused on advising regional and community banks regarding regulatory and compliance matters.
Matt obtained his Juris Doctor degree from the University of Iowa College of Law. Matt also holds an MBA from the University of Iowa, a Master of Science degree from Western Illinois University, and a Bachelor of Arts degree in Finance from the University of Northern Iowa.