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Preparing for Fair Lending Examinations
Doug Jackson, Chief Compliance Officer for AmSouth Bank, just emerged from a compliance examination. His experience was that the examiners paid close attention to the accuracy and integrity of their monitoring data. HMDA accuracy is of sufficient concern to regulators that his bank now expects an annual data integrity check. Since the examiners care this much, the bank should take the necessary steps to get it right in the first place - and then check it.
Copyright © 2000 Compliance Action. Originally appeared in Compliance Action, Vol. 5, No. 12, 11/00
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