Are You Prepared to Defend Your PPP Lending?
While the Department of Justice has been actively pursuing borrowers who made fraudulent claims when applying for loans from the Paycheck Protection Program (PPP), a recent report from Reuters suggests...
View Article3 Top Takeaways from the 2020 Fair Lending Interagency Webinar
The end of the year is almost upon us and so is the 2020 Fair Lending Interagency Webinar. Once again, the Federal Reserve hosted representatives from the regulatory agencies to share the top Fair...
View ArticleTop 10 Lending Compliance Blogs of 2020
As 2020 draws to a close, we’re taking a moment to look back on an unprecedented year. Responding to the COVID-19 pandemic, Congress passed the CARES Act, creating the Paycheck Protection Program (PPP)...
View ArticleNcontracts Acquires QuestSoft
Happy new year, everyone! I can’t think of a better way to ring in 2021 than with the announcement that Ncontracts has acquired QuestSoft, a leading provider of comprehensive compliance software and...
View ArticleCommon Credit Union Fair Lending Mistakes & How the NCUA Decides Which...
What are the most common fair lending findings at credit unions? How does the National Credit Union Association (NCUA) decide which credit unions will be examined for fair lending? What type of fair...
View ArticleLending Compliance 2021 Outlook: What to Expect from the Biden Administration
The past four years of the Trump administration has been relatively light on regulatory enforcement actions in the financial services area. Under Director Kathy Kraninger, the Consumer Financial...
View ArticleMortgage Company Sued by CFPB After Ignoring Compliance, Audit Warnings & a...
Here is a news story to file under “why you should listen when your compliance officer and auditors are concerned.”
View ArticleLending Compliance & Non-English Speakers: What You Need to Know
For years, regulators, community groups, and others have been encouraging financial institutions to do more to reach unbanked and underbanked populations, especially those with limited English...
View Article3 Ways to Mitigate Redlining Risk
Last month Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio shared his vision for the bureau’s Supervision, Enforcement, Fair Lending (SEFL) division, emphasizing a focus on...
View ArticleHow Robust Is Your Lending Compliance Program?
Lending compliance is always evolving—and financial institutions need to be prepared to grow as well. The best way to accomplish this goal is with a strong lending compliance program that can quickly...
View ArticleA Guide to 2020’s Top Fair Lending Enforcement Actions, Fines, and Lawsuits
With a new presidential administration taking office in January, many lenders are concerned about what it may mean for lending compliance and fair lending enforcement. Our advice is do not...
View ArticleThe HMDA Submittal Deadline is Almost Here: 4 Questions You Should Not Be Asking
This blog post goes out to all the HMDA procrastinators out there. HMDA data is due in less than a week, three business days to be exact. With that being said, a few of you may be in scramble mode.
View Article4 Ways to Relieve the Stress of Being a Compliance Officer
Compliance can feel like a race with no finish line. As soon as one task is completed, another priority requires attention, leaving little time to catch your breath.
View ArticleLending in NY State? Make Sure Your Fair Lending CMS Is Strong
The lending industry is buzzing about how the Biden administration may influence fair lending enforcement at the Consumer Financial Protection Bureau (CFPB), but that’s not the only hot spot on the...
View ArticleWhat’s An “Abusive” Practice? CFPB Reverts to 2019 Definition
The Consumer Finance Protection Bureau (CFPB) has telegraphed its intention to return to broad enforcement of the “abusive acts and practices” element of UDAAP, rescinding a January 2020 policy...
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