Due to recent federal legislative changes, Consumer Compliance and Protection regulations are at the forefront of regulatory agencies minds. As such, community banks must have a sound Compliance Management System with adequate policies and procedures. Our Compliance Audit Services will help assist in this process.
Compliance audits are performed for loans, deposits, Privacy, CRA and other areas. The reviews are conducted in accordance with regulatory guidelines and include all aspects of loan and deposit compliance, including Community Reinvestment Act (CRA). All disclosable loan types will be sampled including disclosures and all deposit products will be reviewed.
We also provide fair lending reviews to assist institutions in assessing their compliance with these regulations. Regulators have never placed more emphasis on fair lending then they are now.
Here is a sample of the various consumer protection regulations we review during a typical compliance audit:
- Dodd-Frank Provisions, including TRID
- Reg. Z – Truth in Lending Act
- Reg. X – RESPA
- Reg. B – ECOA
- Reg. C – HMDA
- Fair Credit Reporting Act / FACT Act
- Flood Disaster Protection Act
- Reg. AA – Unfair Practices
- Consumer Protection in Sales of Insurance
- Servicemembers Civil Relief Act
- Reg. DD – Truth in Savings Act
- Reg. CC – Expedited Funds Availability Act
- Reg. D – Reserve Requirements
- Reg. E – Electronic Funds Transfer Act
- Reg. P – Privacy
- Non-Deposit Investment Products (NDIP’s)
- Overdraft Protection (ODP)
- Repurchase Agreements
- Community Reinvestment Act (CRA)
