Nobody wants compliance mistakes but when they are tolerable and in moderation, you grow, you learn from them and that leads to improvement and survival in a tough world of compliance and banking.
Mistakes happen. Even strong compliance programs can have a slip-up, and you may find your bank has wrongfully disclosed the Annual Percentage Rate (on a loan) or the Annual Percentage Yield (for a deposit product).
On-Demand Webinars about Audit and Internal Controls
Third Time’s the Charm! On May 11, 2022, after issuing prior proposals in July 2020 and March 2021, the regulatory agencies released their final updated Flood Q&As. It is invaluable Guidance, and you will want to know what it says!
Who banks on smart phones? Your bank’s customers. Who uses P2P payments with vendor apps like Zelle and CashApp? Your bank’s customers. Who is paying more and more and more claims from these transactions? Your bank.
Sweeps, contests and lotteries are really part of advertising, right? Yes – these are typically used to promote various bank products and services but they are a special subset of the broader “advertising” requirements.
That is what the CFPB fined nine mortgage lenders in in less than a four-month span in 2020 for false advertising. If one of your hats means you produce, audit, review, or answer to the advertisements your bank uses, this webinar is for
Recorded on June 02, 2022
Flood 101 – Facts to Keep You Afloat in Deep Waters
Flood compliance is intimidating. So many rules, so many details, so many fines! Examiners always pay great attention to flood compliance, because more often than not, they find violations… and one problem can sink into several penalties.
In March 2022 the CFPB announced it would be targeting unfair discrimination in consumer finance. You have likely heard and may have even said, “there is no fair lending equivalent for deposits.” Well – now there is.
Is fair lending an important issue? When President Biden took office, he emphasized fair and equal treatment and that included many fields, mortgage lending included. The OCC’s Acting Comptroller Michael Hsu has echoed these same sentiments.