ABA 33rd Edition of the Reference Guide to Regulatory Compliance
The CrossCheck Compliance team was honored once again to collaborate with the ABA in authoring the 33rd edition of the Reference Guide to Regulatory Compliance. This Guide is updated annually and is the ideal resource for compliance managers, department staff, product managers, retail branch banking managers and anyone who is preparing to take the Certified […]
Mortgage Bankers Association (MBA) – 2023 Compliance and Risk Management Conference
On September 10, 2023 Monika McCarthy co-moderated a panel on the topic of Fair Lending. Monika and Feder Kamensky, Partner at Weiner Brodsky Kider PC, discussed serving Limited English Proficiency (LEP) consumers and the when, what, and hows of disclosures, translation requirements, charging LEP borrowers for translation, and much more.
American Bar Association (ABA) – 2023 Business Law Section Fall Meeting
On September 8, 2023 Monika McCarthy moderated a panel – See Her, Hear Her: Historical Evolution, Advocacy, and the Path Ahead. This panel discussed the history of women in the legal profession, highlighted the importance of advocacy and activism for advancing the rights and opportunities of women in the field, and explored the future of the legal profession and the role women would play in shaping it. The other panelists included Danielle Hall, Litigation Associate at Bilzin Sumberg, Valerie L. Hletko, Partner at Covington, Lynette Hotchkiss, Partner at McGlinchey Stafford, and Jonice Gray Tucker, Partner at Paul Hastings.
Mortgage Bankers Association (MBA) – 2023 Compliance and Risk Management Conference
On Monday, September 11th, Mike Forester spoke on a panel on the topic of mortgage fraud – Fraud Prevention Track: Strategies for Detecting and Preventing Fraud Panel. Through case studies and examples from real fraud reviews, industry practitioners recommended strategies to better detect, prevent, and manage suspicious activities. Attendees received tips on how to use QC and LOS reports to monitor fraud. They learned about emerging fraud risks and gained insight into meeting the expectations of federal and state regulators on fraud prevention practices, including SARs and self-reporting.
Dodd-Frank Section 1071 – Objects in Mirror are Closer than they Appear
In Issue 2 of Utah Banker, CrossCheck Compliance LLC Manager John Pace, CRCM authored an article titled Dodd-Frank Section 1071: Objects in Mirror Are Closer Than They Appear. This article explores the compliance impacts for financial institutions since the passage of Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which requires small business loan data collection. Learn more about the key considerations to help your institution prepare for a smooth implementation.
Chicagoland Compliance Association (CCA) – 2023 Fair Lending and CRA Symposium
On July 27th, 2023, Ryan Addabbo presented during the CCA Fair Lending and CRA Symposium on the topic of Fair Lending Analysis. This session covered fair lending analysis institutions should consider conducting to identify and mitigate risks.
Building a Strong Compliance Culture – Strategies for Influencing and Directing Behaviors
A strong compliance culture creates a work environment where employees understand how and why they do what they do. It also helps banks and other organizations maintain the trust of customers and stakeholders and avoid regulatory, legal, and reputational risks. Heidi Wier authored a new article in the July/August issue of ABA Risk and Compliance, Building a Strong Compliance Culture: Strategies for Influencing and Directing Behaviors, that describes the keys to successfully building a strong compliance culture.
Understanding the Complexities of Enterprise Risk Management – A Guide for Compliance Professionals
In the inaugural issue of ABA Risk and Compliance, formerly known as ABA Bank Compliance, Sara McGinnis authored a new article, Understanding the Complexities of Enterprise Risk Management, A Guide for Compliance Professionals. This article reflects the industry transformation taking place as banks break down the silos between risk management and compliance functions due to increasing complexity in the financial sector and the importance of a holistic approach to risk management.
Building Your Defenses: Compliance Management for First-Line Operations
Tracey Levandoski is the author of this new white paper, Building Your Defenses: Compliance Management for First-Line Operations. Many banks have moved to three lines of defense (3LOD) governance model, even if they are not yet required to because of their asset size ($50 billion or more). In the 3LOD model, the business lines (1LOD), which comprise the frontline and back-office operational groups that sell and service the bank’s products, are responsible for developing and maintaining an effective compliance management system (CMS) for the respective business line. This allows the Compliance Department to serve a true second line of defense (2LOD). Whether your bank is in the process of building out a compliance function in the business lines or just starting to make a case for one to management, this white paper will provide the information you need.
We are Change Leaders – Adapting and Advancing in the Evolving Financial Services Landscape
With the release of regulations implementing Section 1071 of the Dodd-Frank Act, compliance officers are gearing up for this monumental change in the small business lending process. This updated article, We Are Change Leaders: Adapting and Advancing in the Evolving Financial Services Landscape, originally published in ABA Bank Compliance, details the compliance officer’s role in managing change. The author, Liza Warner, also addresses change management’s key success factors and provides an example of a compliance evaluation of a business change. We hope you find it helpful!
California Mortgage Bankers Association (California MBA) Mortgage Quality and Compliance Committee (MQAC) – 2023 How to Harness Your HMDA Data Webinar
On April 27th, 2023 Heidi Wier and Ryan Addabbo were presenters on a California MBA Mortgage Quality and Compliance Committee (MQAC) webinar about using HMDA data to benefit a lender’s business beyond customary performance analytics for compliance and regulatory risks. During this webinar, the attendees learned all the prospective opportunities with what you can do with your HMDA data compared to a few years ago.
MBA Course – Managing Consumer Complaints for Compliance Professionals
If you’re seeking guidance on implementing an effective consumer complaint response process, the MBA provides a comprehensive resource through its Certified Mortgage Compliance Professional (CMCP) program. Managing Consumer Complaints for Compliance Professionals is a key course within the CMCP Certification and Designation program, the only credential exclusively designed for compliance professionals in the mortgage finance […]
MBA HMDA Courses Available – MBA’s CMCP Curriculum
CrossCheck Compliance is honored that its managing director, Heidi Wier, worked with the MBA on two HMDA related courses which are part of the MBA’s Certified Mortgage Compliance Professional Certificate and Designation (CMCP) program, HMDA Compliance Basics and Mastering HMDA Data for Compliance Professionals. We would also like to acknowledge Jenni Smith, Manager, for her work […]
How Healthy is your Fair Lending Program?
How prepared is your credit union for a fair lending examination? NCUA’s 2023 Supervisory Priorities make it clear that examiners will review policies and practices for steering or loan pricing discrimination risk factors. Examiners will also assess a credit union’s policies and practices related to residential real estate appraisals. Now is a good time to do a “health check” of your fair lending program. This article, written by Liza Warner, addresses key areas of consideration including marketing and advertising, underwriting, pricing, servicing, third-party partners, complaint management, monitoring and testing, and board/management oversight.
Central Florida Compliance Association (CFCA) – 2023 Flood Insurance Webinar
On March 22nd, 2023 Sara McGinnis, CRCM, CAMS, CAFP, and Wendy McMillan, CIA, CRMA, presented a webinar on flood insurance compliance and a summary of the Interagency Flood Q&As for the Central Florida Compliance Association (CFCA). Other resources on flood insurance include an article authored by Sara on this topic, published in ABA Bank Compliance, and the ABA’s Reference Guide to Flood Compliance, First Edition.
ABA Reference Guide to Flood Compliance – 1st Edition
CrossCheck Compliance would like to acknowledge our colleague, Sara McGinnis, CRCM, CAMS, CAFP for her work writing the American Bankers Association (ABA) Reference Guide to Flood Compliance, First Edition. Thank you to numerous industry bankers and ABA colleagues for their time and expertise in bringing this guide to completion. The 2022 ABA Flood Compliance Guide is […]
Closing the Gap – Advancing the Next Generation of Compliance Leaders
In the March/April issue of ABA Bank Compliance, Jim Jorgensen authored this article entitled Closing the Gap – Advancing the next Generation of Compliance Leaders. This is a topic of discussion in many organizations. How can you prepare the junior staff to be ready to take on the responsibilities expected by the board and senior management to meet regulator expectations? To address this issue we spoke with several compliance officers from community banks to large regional banks to get their insights on how they advance the next generation of compliance executives. The insights in this article will help prepare you for enhancing your own organization’s succession planning.
Buckle Up! Indirect Automotive Fair Lending Risks Ahead – Fuel Up your Compliance Program for the Journey Ahead
In the January/February issue of ABA Bank Compliance, Liza Warner authored the article, Buckle Up! Indirect Automotive Fair Lending Risks Ahead. Both bank and non-bank lenders face regulatory scrutiny surrounding the indirect automotive lending sector. In the article, Liza discusses how to spot the red flags or risk indicators in this type of lending and how to stay clear of ‘accidents’. She also discusses credit risk management and data integrity. For safe navigation, follow the ‘rules of the road’.
Risk Management of Third-Party Relationships
In the Utah Banker Magazine, Tracey Levandoski authored an article entitled, Risk Management of Third-Party Relationships. Third-party risk management continues to be an increasing regulatory focus as indicated by the proposed Interagency Guidance on Third-Party Relationships: Risk Management. Understanding the details of sound risk management outlined in the proposed guidance and enhancing your third-party risk management program commensurate with the risk level of your third-party service provider relationships will place your organization in a more favorable position for the next regulatory examination.
California Mortgage Bankers Association (California MBA) – 2022 Legal Issues and Regulatory Compliance Conference
CrossCheck Compliance was, once again, a sponsor of the California MBA’s Legal Issues and Regulatory Compliance Conference which took place in December 2022. This conference focused on the trends and hot issues in litigation & regulatory compliance for the residential lending community. The panels featured some of the nation’s leading industry experts including Todd Krell and Monika L. McCarthy. Todd moderated and spoke on the Non-QM Compliance panel which discussed how the loan origination and due diligence processes differ from Agency requirements. Monika moderated the General Counsel Roundtable.
