Loan and Credit Risk Process Review
A credit union experiencing rapid growth in its member business loan portfolio requested an independent review of its business lending portfolio and related loan policies and procedures to ensure adherence to safety and soundness expectations. While overall policies and procedures were satisfactory, CrossCheck recommended enhancements to loan review procedures and compliance with the Flood Disaster Protection Act and implementing regulations. Our review helped strengthen the institution’s business loan risk management process and related flood compliance procedures, reducing exposure to potential monetary penalties.
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