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.
Nobody wants compliance mistakes but when they are tolerable and in moderation, you learn from them and that’s an improvement. Mistakes can be great when you learn from someone else’s because you don’t suffer the consequences.
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.
On May 17, 2022, the FDIC announced a final rule to expand its Advertisement of Membership rule to include the process by which the FDIC will identify and investigate conduct that may violate section 18(a)(4) of the Federal Deposit Insurance Act thro
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
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.
Everything old, is new again. In January 2020, the CFPB issued a policy statement on how it was interpreting and enforcing UDAAP. In March 2021 the new acting director of the CFPB announced a reversal of that position.
Mistakes are bad, except when you learn from them. Mistakes are great when you learn from someone else’s. Join me as we look at what examiners and auditors are finding wrong in banks so they do not find these in your bank.