Category: Exam/Audit

Has Fair Lending Been Neutered?

By: Tammy Butler, Master CMB Fair Lending Perspectives-The CFPB’s Latest Decision If you have anything to do with Fair Lending in your company, you have no doubt heard the news about the recent change at the CFPB with regard to Mulvaney’s decision to strip the Fair Lending Office of enforcement duties and move those duties […]

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CFPB- It’s Just Compliance Training-Who Cares?

Rule Synopsis: “It’s Just Compliance Training, who cares? We just have to show our examiners that we checked off a box and that people were trained to satisfy regulatory requirements.” Without retaining the source, I write down interesting statements like the one above, when I am shocked or perplexed by the view. Sadly, I hear […]

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CFPB Warns Financial Institutions about Potential Mortgage Lending Reporting Failures

Rule Synopsis: On October 27, 2016 Richard Cordray, the Director of the CFPB, issued a stark warning to lenders who did not file their HMDA data. Many smaller lenders were the ones who were warned, and we have attached a sample letter below for your reference. Interpretive CommentsTo help our subscribers decide if they are […]

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