In the complex and heavily regulated banking sector, achieving and maintaining compliance, while also effectively mitigating risks, demands a deeply collaborative strategy that permeates every area of the bank. With regulations that are now so wide-reaching, it is no longer enough to relegate regulatory compliance to the compliance arm of the bank. In short – […]
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In the current regulatory landscape, financial institutions are subject to ongoing scrutiny concerning fair lending practices. This scrutiny may arise from routine examinations by regulatory bodies or be prompted by customer complaints. Although larger banks tend to be held to higher standards in these matters, industry experts stress the importance of comprehensively understanding and mitigating […]
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Lending institutions play a critical role in the economic health of the communities they serve. The bank regulations and regulators understand this and emphasize policies that promote meeting the needs of the entire com munities. As much of this emphasis is on housing, to effectively meet the needs of those communities and ensure equitable lending […]
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Acting Chairman Travis Hill of the Federal Deposit Insurance Corporation (FDIC) delivered a speech at the American Bankers Association Washington Summit on April 8, 2025, providing an update on key policy issues the agency is currently focusing on. His remarks highlighted a commitment to fostering a vibrant and resilient banking system by addressing challenges in […]
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The Section 1071 Small Business Lending Data Collection Rule has been a significant topic in the financial industry, and recent developments indicate a dynamic and evolving situation. As of April 8, 2025, the landscape surrounding this rule is far from settled. What is Section 1071? For those unfamiliar, the Consumer Financial Protection Bureau (CFPB) issued […]
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The banking industry operates within a complex web of regulations, and ensuring compliance is paramount. However, achieving this compliance isn’t always straightforward. One of the most significant hurdles is the human element: the interpretation of regulations. Regulations are open to interpretation, which is a critical challenge for regulatory compliance in the banking sector. The Challenge […]
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Preparing for a fair lending examination can feel daunting, but with a proactive approach and a deep understanding of your institution’s practices, you can navigate the process with confidence. Drawing from our experience and regulatory guidance, here are 10 key areas your bank must be aware of and/or have analyzed about its past performance to […]
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In today’s dynamic business environment, collaborative business relationships are more important than ever. A “must-have” business relationship is one that proves its worth over time. The benefits of such a relationship extend to all parties involved and are especially valuable given the current operating environment. It is critical to have the best service provider you […]
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A comprehensive product analysis of Home Mortgage Disclosure Act (HMDA) lending and housing credit needs can be a crucial component of a bank’s compliance and fair lending risk management program. Such an analysis can address redlining concerns related to minority geographies and the race and ethnicity of borrowers, as well as Community Reinvestment Act (CRA) […]
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In the late 1990’s and early 2000s, fair lending regulatory examinations experienced a dramatic change. This shift was marked by the introduction of statistical approaches to fair lending analysis by regulatory agencies. Prior to this, fair lending reviews involved manual data file reviews, which were imprecise and labor-intensive. The agencies started using regression and statistics […]
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