It has been more than a few years since the Reg Z Loan Originator rules came about, and even longer since the SAFE Act requirements began. When rules and regs start to age, the rationale behind their policies and procedures are forgotten.
Banking compliance touches several aspects of banking – ALL of them in fact! Whether you work on the deposit side or the loan side of the bank, you have many rules to follow. Do you ever wonder why?
The short answer is that banks are special.
Internal fraud can cost financial institutions unrecoverable money and time. When the embezzler hasn’t been identified, emotions run high! Investigations launched in panic with the wrong leaders may cause unexpected complications.
Insights PS is an innovative discussion of compliance hot topics. The “PS” stands for Problems and Solutions, and that we have more PostScript discussion to add to the topic.