Description
Financial institutions greatly benefit from keeping an eye on the consumer compliance enforcement actions and examination findings reported by regulators. After all, the issues facing one institution are highly likely to be a universal challenge facing others.
Learning about the “hot buttons” pushed by examiners helps compliance officers understand the focus of regulator oversight to better prepare for their own exams, which is all the more important in our current uncertain “deregulatory(?)” environment. Regardless of supervisory shifts, most consumer compliance themes have remain unchanged, and the repetitive pain points plaguing financial institutions continue to exist.
So what’s hot right now? Plenty! Here’s what’s making news and being reported by examiners:
- FinTech partnerships / BaaS / Third Party Management
- FDIC Insurance misrepresentations
- TRID errors – reimbursable! – related to ToP and TiP
- RESPA Section 8
- Fair Lending
- Flood
- Credit Card lending
- HMDA
- Military Service Members
- Truth in Savings disclosure errors
- Reg CC hold errors
- Reg E dispute errors
- Compliance Management System deficiencies:
- Risk management (Board and Senior Management)
- Monitoring
- Training (often due to turnover)
- Root Cause Analysis
Tune in to learn what Rebekah is seeing through regulatory agency reports, as well as what she is hearing straight from the examiners, and anecdotally from other financial institutions.
WHO:
Compliance staff, bank managers, risk managers, policy makers, loan managers, operations managers, and audit staff.
* Please note that the recording links will be delivered to you via a downloadable PDF in your confirmation e-mail. The PowerPoint that corresponds with the recording will be automatically delivered upon purchasing via email from the website.
