Chicagoland Compliance Association (CCA) – 2021 Bank/Fintech Webinar
On June 9, 2021 Tracey Levandoski presented a webinar for the Chicagoland Compliance Association (CCA). Her presentation focused on the factors bank management should consider in selecting a fintech lending partner, and then after making the selection, how the bank can help their fintech strategic partners develop a compliance roadmap and compliance infrastructure that meets the regulator’s requirements as well as the bank’s expectations under its third-party risk management program. Tracey described the areas of caution, potential detours, roadwork ahead and speed bumps to reinforce the concepts that the development of a compliance roadmap is a journey that needs to be mapped out and at times adjusted for changes in conditions and unforeseen events.
American Bankers Association (ABA) – 2021 Compliance/Audit Partnership Webinar
On May 20, 2021, Heidi Wier and Jim Treacy presented The Compliance/Audit Partnership webinar for the American Bankers Association (ABA). During this webinar, The Compliance-Audit Partnership, participants learned how auditors can collaborate with compliance officers to fully understand the bank’s compliance risk and develop an audit plan to best address that risk while maintaining independence as the third line of defense. CERP 1.25, CRCM 1.25 was available. The recording of this webinar can be purchased through the ABA.
Avoiding UDAAP Pitfalls: Recognizing and Addressing Risks in Marketing and Advertising
Tracey Levandoski authored this informative article published in the May/June 2021 issues of ABA Bank Compliance. Enforcement actions for UDAAP violations are likely to increase, and UDAAP risk should be on the minds of every bank’s marketing manager. Supervisory highlights from the CFPB include references to misleading advertisements of bonus offers on deposit accounts, misleading representation about the ability to apply for a loan online, and false representations that no credit check will be conducted on loan applicants. When examiners review the bank’s UDAAP risk as part of compliance examinations, you will need to explain to examiners, with supporting documentation, how UDAAP risk has been mitigated. Now is the time to review the bank’s marketing and advertising plans, including policies and procedures, with an eye to potential UDAAP pitfalls.
Wisconsin Bankers Association (WBA) – 2021 Real Estate Compliance School
In March 2021, Jim Treacy taught TRID and ATR/QM for the Wisconsin Bankers Association’s Real Estate Compliance School.
Wisconsin Mortgage Bankers Association – 2021 Compliance Bootcamp
In March 2021 Heidi Wier presented a Compliance Bootcamp for the Wisconsin Mortgage Bankers Association.
Wisconsin Bankers Association (WBA) – 2021 Real Estate Compliance School
In March 2021, Heidi Wier taught HMDA for the Wisconsin Bankers Association’s (WBA) Real Estate Compliance School. Heidi has been a long-standing teacher for the WBA.
Promotion of Tracey Levandoski to Managing Director
CrossCheck Compliance LLC announced today that the firm has promoted Tracey Levandoski to managing director in its regulatory compliance and internal audit practice. In her expanded role Levandoski will be responsible for a portfolio of clients, leading strategic partner engagements, and engagement teams.
Chicagoland Compliance Association (CCA) – 2021 HMDA Webinar
On January 20, 2021 Heidi Wier presented a webinar for the Chicagoland Compliance Association (CCA) – HMDA: Submit with Confidence, Keys to Successful Data Integrity. Heidi discussed strategies for validating HMDA data prior to submission and ways to keep your HMDA data accurate going forward. The agenda included the following topics: verifying your data, performing final reviews, understanding key data fields, regulatory expectations, building a process with sustainable integrity, data integrity testing, and understanding outliers, red flags analyses, and performance analyses.
Analyzing Complaints – How to Understand Your Bank’s Complaint Data
In the January/February 2021 issue of ABA Bank Compliance, Liza Warner provides insight into how a bank can use the results of the March 2020 Consumer Financial Protection Bureau (CFPB) Consumer Response Annual Report as a reference point to analyze its own complaints. In 2019, the period covered by this report, there were over 350,000 complaints received. By comparing the CFPB complaint data with its own data, the bank can start to identify patterns, trends, and findings that warrant reporting to key stakeholders including business line management, risk management, compliance, senior management, and the Board of Directors. Gain insight into the top five complaint areas in this informative article.
California Mortgage Bankers Association (California MBA) – 2021 Virtual Legal Issues and Regulatory Compliance Conference
On January 12, 2021 at the California Mortgage Bankers Association’s Legal Issues and Regulatory Compliance Conference, Monika McCarthy moderated a General Counsel Roundtable. The other general counsel panelists included Ann Savage-Davis, Mountain West Financial, Inc., Lauren Ingersoll, Inspire Home Loans, Inc., Marc Ely, Paramount Residential Mortgage Group, Inc. and Philip Schild, Homebridge Financial Services, Inc. This year’s event included remarks from some of the top policy makers, including Manual P. Alvarez, Commissioner, California Department of Financial Protection & Innovation; Brian P. Brooks, Acting Comptroller of the Currency, and Kyle Thomas, VP, State Examination Systems (SES), Conference of State Bank Supervisors (CSBS).
Managing Consumer Complaints for Compliance Professionals – New MBA Resource
If you are looking for more information about implementing a consumer complaint response process, there is a new resource available through the MBA’s education program. Managing Consumer Complaints for Compliance Professionals, is a new course that Heidi Wier worked on with the MBA. This course presents foundational concepts to help companies improve their consumer complaint […]
Combating Current Legal Threats – Tips for Mortgage Lenders and Servicers
In the Fall 2020 issue of California Mortgage Finance News, Monika McCarthy authored an article entitled, Combating Current Legal Threats, Tips for Mortgage Lenders and Servicers. She addresses three key threats that have emerged since the pandemic that impact California mortgage lenders and servicers: 1) fair servicing issues, 2) fair lending issues, and 3) the unknown effect of the revamped Department of Business Oversight, now the Department of Financial Protection and Innovation.
Mortgage Bankers Association (MBA) – 2020 Virtual Regulatory Compliance Conference
At the MBA’s 2020 Regulatory Compliance Conference, Monika McCarthy co-presented with Laura LaRaia, Chief Legal Officer and General Counsel of First Guaranty Mortgage Corporation. Their presentation, Reviewing Processes for Compliance Professionals, was part of the CMCP Track and provided guidance on advertising and marketing compliance.
CrossCheck Compliance LLC Added to S&P Global Ratings List of Third-Party Due Diligence Firms
CrossCheck Compliance LLC, a leading provider of regulatory compliance and due diligence services, announced today that the firm has been added to the S&P Global Ratings’ (S&P) list of reviewed firms that conduct third-party due diligence for U.S. residential mortgage-backed securities (RMBS).
Mitigating Risks of Banking Money Service Businesses – Building an Appropriate BSA/AML/OFAC Compliance Program
In the November/December issue of ABA Bank Compliance, Jim Treacy addresses how banks can build an appropriate BSA/AML/OFAC Compliance Program. Jim covers performing an enterprise-wide BSA/AML/OFAC risk assessment, as well as developing a customer risk profile for each individual money service business (MSB). He also describes ongoing monitoring of MSB customers and MSB red flags that raise potential concerns. Although banking MSB customers comes with BSA/AML risks, these risks can be managed through a strong and effective BSA/AML/OFAC Program.
Best Practices for Choosing a Fintech Lending Partner
In this article, published in the Utah Banker, Tracey Levandoski discusses the risks to consider and the decisions to be made as banks accelerate their digital strategies through partnerships with fintech lenders. In addition to reviewing the regulatory guidance for managing third-party risk, she addresses the evaluation process in terms of lending experience and expertise as well as regulatory compliance considerations such as the fintech’s CMS. Other topics include evaluation of the fintech’s credit model, the use of alternative data, and considerations for marketing and advertising.
Utah Bankers Association (UBA) – 2020 Virtual Compliance Conference
At the Utah Bankers Virtual Compliance Conference, Liza Warner moderated the Compliance Officers Roundtable. The panel discussed hot topics that compliance officers are facing. Overall the conference offered a mixture of general and breakout sessions designed to help compliance professionals stay current with and function confidently in the rapidly changing regulatory environment.
Utah Bankers Association (UBA) – 2020 Virtual Compliance Conference
Tracey Levandoski presented at the Utah Bankers Compliance virtual conference at one of the breakout sessions on Tuesday October 27, 2020. Tracey’s topic was Developing a Fintech Compliance Roadmap. Her presentation focused on the factors bank management should consider in selecting a fintech lending partner, and then after making the selection, how the bank can help their fintech strategic partners develop a compliance roadmap and compliance infrastructure that meets the regulators’ requirements as well as the bank’s expectations under its third-party risk management program.
American Credit Union Mortgage Association (ACUMA) – 2020 Virtual Annual Conference
On September 22nd, 2020 Todd Krell participated on a quality control panel for ACUMA’s Annual Conference. The theme, “Celebrating Credit Union Mortgage Heroes”, was dedicated to all the front-line financial workers who play a vital role in making it possible to put people in homes every day, especially during the pandemic. Panelists included Todd Krell, Managing Director at Cross Check Compliance, Duane Gilkison, Director of Credit Risk at Fannie Mae, and Michael Christians, attorney and VP of Risk Management at myCU Mortgage in Dayton OH, a mortgage CUSO serving credit unions across the nation. The panel was moderated by Russell Francom, the Mortgage Compliance and QC Manager at Mountain America Credit Union in Salt Lake City, UT.
ABA 30th Edition of the Reference Guide to Regulatory Compliance
CrossCheck Compliance was honored to work with the American Bankers Association (ABA) as the author of the 30th edition updates to the Reference Guide to Regulatory Compliance. This guide is a comprehensive and detailed resource for compliance professionals and those preparing for the CRCM exam. This latest edition is available at https://www.aba.com/news-research/references-guides/reference-guide-regulatory-compliance.
