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#37491 - 10/17/02 03:12 PM nys consumer compliance exam
Anonymous
Unregistered

anyone with recent experience with the nys consumer compliance examination format? ours is upcoming, just wondering about their current "hot buttons" (areas they are "emphasizing"). thanks.

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#37492 - 10/21/02 05:39 PM Re: nys consumer compliance exam
Anonymous
Unregistered

I recently went through a consumer compliance exam. They were very interested in fair lending issues. They pulled over 150 real estate (mortgage / HELOC) loan files. Looking at terms and conditions. Had to explain all issues they found with the files. Other than the time involved the exam went well.
I completed a 20 page control work book that requested information about the banks general compliance with all the regulations.
Background: Asset size: 175 million, 7 Branch offices, Stock Savings Bank.

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#37493 - 11/10/02 06:34 PM Re: nys consumer compliance exam
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,182
Toano, VA
How long did the exam last & how many examiners participated?
_________________________
...gone fishing.

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#37494 - 01/07/03 04:49 PM Re: nys consumer compliance exam
Anonymous
Unregistered

OCSB compliance exam had 1 examiner for about 1 month. The CRA exam was offsite and completed by 2 examiners in 6 weeks.

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