Due to the growth of class action TCPA litigation and settlements, the client engaged CrossCheck to perform a targeted review of its debt collection practices with a focus on compliance with TCPA requirements. Our engagement covered the client’s practices as well as the client’s third-party loan servicer and collection agents and included a review of… Read more »
Website Compliance Review
Continued growth and the ensuing regulatory scrutiny led a large credit union to request a compliance review of its extensive website. CrossCheck focused the review on the advertising provisions of all applicable regulations, including those specific to credit unions, as well as potential UDAAP pitfalls. The review encompassed all pages and all links on the… Read more »
Auto Finance Review
Review of the auto finance program covering the various elements of the auto loan life cycle, including origination and servicing processes. Such reviews include assessment of the quality of the credit union’s CMS for detecting and preventing violations of Federal regulations applicable to auto loan origination or servicing and identification of credit union practices that… Read more »
Audit Co-Source
Continued growth and increased regulatory scrutiny prompted a client to have CrossCheck assist them with the implementation of an internal audit function. After developing an audit charter, performing an audit risk assessment, and providing a multi-year internal audit plan, we assigned experienced internal audit consultants to complete the audit plan. The goal of an internal… Read more »
Loan and Credit Risk Process Review
A credit union experiencing rapid growth of its member business loan portfolio requested an independent review of its business loan portfolio and related loan policies and procedures to ensure adherence to safety and soundness expectations. While overall policies and procedures were satisfactory, recommendations were made to enhance loan review procedures and compliance with the Flood… Read more »
Anti-Money Laundering/Countering the Financing of Terrorism
CrossCheck performs Anti-Money Laundering/Countering the Financing of Terrorism independent audits for the various client segments it serves. Our approach is based on the examination guidelines published by the Federal Financial Institutions Examination Council (FFIEC) and FinCEN requirements. An independent audit provides management with an unbiased assessment of compliance with the anti-money laundering requirements and raises… Read more »
