How to Maintain Fair and Responsible Servicing Practices

The cover story of the July-August issue of ABA Bank Compliance magazine, How to Maintain Fair and Responsible Servicing Practices, was co-authored by Liza Warner and Karen Cullen. In this article, the authors address how compliance officers can guide their organizations in successfully navigating an evolving compliance landscape by identifying and mitigating compliance risk in all aspects of account servicing, including fair lending and UDAAP. Weaving regulatory requirements throughout the servicing process will enhance service quality and make sure the organization exceeds customer expectations, differentiates itself in the marketplace and avoids regulatory land mines.