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Fair Lending/Responsible Banking
Fair lending principles are embraced by CBA members. Regulatory enforcement, however, is an increasingly complex area of compliance, and has become even more challenging with the intense search at the state and federal levels for 'predatory lending' practices. To encourage self-evaluation, CBA helped establish a privilege for self-testing for fair lending compliance. CBA also is responding to new fair lending guidelines and protecting banks from unnecessary and burdensome small business data collection.
- April 5, 2018 - 2:00PMPastApril 4, 2018 - 2:00PMPastMarch 28, 2018On Wednesday, March 28, 2018, the FDIC announced settlements with Cross River Bank , and its institution-affiliated party, Freedom Financial Asset Management, LLC for unfair and deceptive practices in violation of the FTC Act related to the marketing and origination of Consolidation Plus Loans. The FDIC also found the bank and its institution violated TILA and EFTA. The settlement will require...March 27, 2018Effective compliance metrics support compliance efforts by providing a window into an organization’s compliance risks and controls. It is vital that organizations evaluate, integrate, and (when valuable) automate metrics that provide insights into their compliance efforts in order to more effectively prevent, detect, and respond to current and future compliance risks. Such metrics can help...March 22, 2018 - 2:00PMPastFebruary 24, 2018Is alternative credit data the missing link between underestimated consumers and access to credit? Consumers with poor traditional credit scores can often be misclassified as marginal or subprime, and many consumers who lack an established credit history are considered ‘unscorable’. By providing the additional insight needed to more predictively evaluate the risk of these consumers, alternative...February 13, 2018 - 3:00PMPastFebruary 7, 2018 - 2:00PMPastJanuary 18, 2018Millennial consumers check their phones on average 150 times throughout the day. The majority of millennials have gone completely digital for content consumption and one-fifth rely on their phones to consume any digital content. Make sure your marketing content is ready for your most digital savvy consumers by downloading the EVERFI guide. Learn the 4 tips you should follow to optimize your...January 3, 2018This report from KPMG LLP (KPMG) offers a high-level look at ten key regulatory challenges we believe will influence and impact the financial service industry in the coming year. The report also highlights the drivers behind these challenges and serves as a guide to actions financial services companies can take to address them. Click here to access the report: Ten Key Regulatory Challenges for...