COMPLIANCE MANAGEMENT SYSTEM - TUNE-UP

RETHINK COMPLIANCE ADMINISTRATION

PRESENTATION

Our professionals have the unique expertise to provide a comprehensive compliance administration review, including a policy and procedures review of the Compliance Management System.

We prepare banks and nonbanks for the requirements set forth by the Consumer Financial Protection Bureau (CFPB).

ADVERTISING & MARKETING

APPRAISER INDEPENDENCE

CLOSING PROCEDURES

FAIR CREDIT REPORTING ACT

FAIR DEBT COLLECTION PRACTICES ACT

FAIR LENDING PROCEDURES

HOME MORTGAGE DISCLOSURE ACT

HOMEOWNERS PROTECTION ACT

LOAN ORIGINATION PROCESS

LOAN ORIGINATOR COMPENSATION

MANAGEMENT ACCOUNTABILITY

PRIVACY AND INTERNET SECURITY

RESPA COMPLIANCE

SAFE ACT AND LICENSING COMPLIANCE

TILA COMPLIANCE

TRAINING POLICIES AND PROCEDURES

UNFAIR AND DECEPTIVE OR ABUSIVE ACTS OR PRACTICES

VENDOR MANAGEMENT COMPLIANCE

Whether a particular company needs policies in a specific area depends on the business model, products and services offered, and other similar circumstances. In addition, a particular issue may be covered by more than one potential policy, and two policies covering the same topic may not be necessary.

A Compliance Management System should reflect the size, complexity, and risk profile of the financial institution.

Summary Report and Rating Value
provide
level of compliance implementation
and readiness for a CFPB examination.

A Compliance Management System is how an institution:

• learns about its compliance responsibilities;
• ensures that employees understand these responsibilities;
• ensures that requirements are incorporated into business processes;
• reviews operations to ensure responsibilities are carried out and requirements are met; and,
• takes corrective action and updates materials as necessary.

An effective Compliance Management System is commonly comprised of three interdependent elements:

1. Board and/or Management oversight
2. Compliance Program
3. Compliance Audit

When all elements are strong and working together, an institution will be successful at managing its compliance responsibilities and risks now and in the future.