FCRA Fundamentals – Disclosure of Credit Scores and Risk-Based Pricing
The January/February 2025 issue of ABA Risk and Compliance includes a column by Tracey Levandoski titled “Disclosure of Credit Scores and Risk-Based Pricing”, part of the Fair Credit Reporting Act (FCRA) Fundamentals series. Tracey delves into FCRA requirements for financial institutions that use credit scores in mortgage loan evaluations or set consumer credit terms based on consumer reports. Tracey also covers exceptions to risk-based pricing notices, alternative disclosures options, and key compliance considerations to ensure adherence to FCRA requirements.
California MBA – 2024 MBA Legal Issues and Regulatory Compliance Conference
Monika McCarthy moderated a panel at the California MBA Legal Issues and Regulatory Compliance Conference in December 2024, in Irvine, CA. The panel focused on Enforcement, Litigation, and Fair Lending Trends, providing valuable insights into critical issues shaping the mortgage industry.
Chicagoland Compliance Association (CCA) – Let’s See Now, an Update on Reg C and Reg CC – a Primer on HMDA and Expedited Funds Availability Webinar
In December 2024, Heidi Wier and Rebecca Escario presented a webinar in collaboration with the CCA: Let’s See Now, an Update on Reg C and Reg CC – a Primer on HMDA and Expedited Funds Availability. This double-feature session explored key updates on HMDA compliance and the Expedited Funds Availability Act (Regulation CC), providing practical tips and best practices to enhance compliance efforts.
American Bankers Association (ABA) – Section 1071 Webinar
November 12, 2024 Rebecca Escario presented a webinar for the American Bankers Association (ABA) Fair Lending and UDAAP Working Group on the topic of Small Banks and Section 1071: Preparing for Small Business Data Collection and Reporting. Rebecca shared insights and strategies to help small banks navigate the small business data collection and reporting requirements under Section 1071 of the Dodd-Frank Act.
Tri State League of Financial Institutions – 2024 Annual Training Meeting
Rebecca Escario shared her insights on Fair Lending at the Tri-State League of Financial Institutions Annual Training Meeting on October 30th, 2024 at Union Savings Bank in Cincinnati, OH.
Utah Bankers Association – 2024 Fall Compliance Conference
Monika McCarthy and John Pace spoke at the Utah Bankers Association Fall Compliance Conference at Zermatt Utah Resort, October 28-30, 2024. Monika covered “Hot Topics in Fair Lending” and “Doing More with Less: Selecting and Working with Outside Counsel,” while John discussed “Dodd-Frank Section 1071: Objects in Mirror are Closer than They Appear,” focusing on the CFPB’s Small Business Lending Rule and its impact on small business lenders. CrossCheck Compliance was proud to sponsor the event.
FCRA Fundamentals – Adverse Action Disclosures and the Intersection with ECOA
The November/December 2024 issue of ABA Risk and Compliance includes a column by Jim Treacy titled “Adverse Action Disclosures and the Intersection with ECOA.” Jim highlights Fair Credit Reporting Act (FCRA) and the Equal Credit Opportunity Act (ECOA) requirements for adverse action notices in credit decisions, as both regulations are often applied together. The column also notes CFPB guidance on using AI for credit decisions. Read on to learn practical steps for aligning your adverse action notices with FCRA and ECOA requirements.
Chicagoland Compliance Association (CCA) – 2024 Annual Conference
At the CCA’s Annual Conference on October 3rd, 2024 Sara McGinnis, CRCM, CAMS, CAFP and Tracey Levandoski, CRCM spoke on the topic of Compliance Risk Management for the Future, offering insights into compliance management system tips and reminders for addressing evolving risks and increased regulatory expectations.
FCRA Fundamentals – Consumer Alerts and Identity Theft
This column by John Pace, CRCM in the ABA Risk and Compliance September/October 2024 issue covers the fundamentals of the Fair Credit Reporting Act (FCRA) focusing on identity theft presenting an escalating threat to both consumers and financial institutions (FIs). The FCRA requires FIs to establish a robust Identity Theft Prevention Program (ITPP) to identify, detect, and respond to red flags, such as unusual account activity or alerts from credit reporting agencies. Proactive measures like placing fraud alerts or credit freezes can help consumers safeguard their credit information and mitigate the risks of identity theft. Read the article to learn more about how to protect your institution and customers.
Mortgage Bankers Association (MBA) – 2024 Compliance and Risk Management Conference
Monika McCarthy’s session on Sunday, September 22nd, 2024 at the Mortgage Bankers Association Compliance and Risk Management Conference in Washington, DC, titled “Compliance Conversations: Fair Lending, LEP, and SPCPs,” featured a facilitated discussion where attendees asked questions and exchanged information on how peers were addressing compliance challenges related to Fair Lending, Limited English Proficiency (LEP), and Special Purpose Credit Programs (SPCP). Monika facilitated this session alongside Daniella Casseres and Joshua Weinberg.
America’s Credit Unions – 2024 Compliance & Risk Council Conference
Heidi Wier spoke at the America’s Credit Unions’ Compliance & Risk Council Conference in Chicago on Wednesday, September 25, 2024. Heidi presented “Fair Lending for Credit Unions Approaching $10 Billion,” focusing on the DOJ’s Combatting Redlining Initiative and strategies for effective fair lending programs. Attendees learned what to include in their fair lending programs, what types of data analytics to perform, and how to assess risk related to underwriting, pricing, levels of service, and redlining.
ABA 34th Edition of the Reference Guide to Regulatory Compliance
The CrossCheck team was honored once again to collaborate with the American Bankers Association in authoring the 34th edition of the Reference Guide to Regulatory Compliance. The guide is updated annually to provide the most up-to-date guidance for compliance professionals and those preparing to take the Certified Regulatory Compliance Manager (CRCM) exam. The guide is […]
Central Florida Compliance Association (CFCA) – 2024 Fair Lending Analysis Webinar
Ryan Addabbo conducted a CFCA webinar on Fair Lending Analysis: How to Use Data Analysis as Part of a Strong Fair Lending Compliance Program on July 17th, 2024. Ryan covered essential topics such as building a robust fair lending compliance program, strategies for data monitoring to assess fair lending risk, understanding HMDA data, identifying disparities and outliers, and reviewing for redlining risk.
FCRA Fundamentals – Obtaining Information and Sharing Among Affiliates
The July/August 2024 issue of ABA Risk and Compliance features the insightful column titled Obtaining Information and Sharing Among Affiliates by Tracey Levandoski. This column delves into FCRA fundamentals, offering guidance on how financial institutions can navigate complex information-sharing requirements. Tracey breaks down exceptions and compliance strategies, making this a must-read for compliance professionals. Ensure your institution stays ahead of regulatory requirements by exploring this resource for mastering FCRA and Regulation P intersections.
ActiveComply – 2024 Compliance and Coffee Webinar
On April 24th, 2024 Monika was featured on the Compliance and Coffee Webinar hosted by Melissa Grindel for ActiveComply. The theme of the discussion was “Spring Compliance Cleaning,” offering insights and actionable tips on ensuring marketing and website compliance.
FCRA Fundamentals – Permissible Purpose and Use of Prescreened Solicitations
Jim Treacy’s column titled Permissible Purpose and Use of Prescreened Solicitations is published in the May/June 2024 issue of ABA Risk and Compliance. FCRA remains a key focus for bank regulators; in this column, Jim focuses on FCRA rules on permissible purpose for obtaining consumer reports, use of prescreened lists for delivering firm offers of credit/insurance to consumers, and managing consumer responses.
Mortgage Bankers Association (MBA) – 2024 Legal Issues and Regulatory Compliance Conference
On Monday, May 6th, 2024, Monika joined a panel at the Mortgage Bankers Association Legal Issues and Regulatory Compliance Conference to discuss how to select and work with outside counsel. Other participants included Michael Briggs, John Grissom, and Carlos Pelayo.
Mortgage Bankers Association (MBA) – 2024 Legal Issues and Regulatory Compliance Conference
Todd Krell spoke on trends in mortgage fraud at the Mortgage Bankers Association Legal Issues and Regulatory Compliance Conference in San Diego on May 5th, 2024. Todd, Katherine Hollister, and Bridget A. Berg discussed the latest fraud schemes and trends impacting the industry and how companies can be safeguarded.
CrossCheck General Counsel Appointed as Co-Chair of the Corporate Counsel Committee of American Bar Association’s Business Law Section
CrossCheck Compliance is thrilled to announce that Monika McCarthy, its General Counsel, has been appointed as Co-Chair of the Corporate Counsel Committee of American Bar Association’s Business Law Section. This Committee, which also includes Dredeir Roberts as Co-Chair, is comprised of in house counsel, outside counsel and representatives of agencies that regulate corporate activity. It […]
Chicagoland Compliance Association (CCA) – 2024 Breakfast Meeting
Sara McGinnis spoke at the Chicagoland Compliance Association’s Breakfast Meeting on April 12, 2024. Sara discussed Marketing Compliance, covering deposit and lending compliance, digital marketing, social media, regulatory ad requirements, diversity representation, AI use, and fair banking risks.
