1 / 8

Large Bank Compliance Huddle

Stay informed on recent exams, HMDA phases, enforcement actions, and key concerns in bank compliance. Prepare for regulatory changes and ensure your institution's readiness.

bobbiggs
Download Presentation

Large Bank Compliance Huddle

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Large BankCompliance Huddle January 2017

  2. Recent Exams • Does anyone currently have examiners on-site? • Is there still a continuing increase in request information? • What is the focus of the on-site? • Has anyone just been through an exam or recently received their ROE? • Has examiner “tone” changed from the last on-site? • Are the reports giving credit where credit is due, or if there were concerns, are the reports written in such a way that the regulators are seemingly sympathetic or more demanding? • What are some of the areas of focus?

  3. HMDA Phases In • First Phase: 1/1/17 • Primarily affects low volume institutions, not much change for larger institutions • Second Phase: 1/1/18 • Effective date for most provisions • New data collection fields required • Third Phase: 1/1/19 • Enforcement changes and some additional reporting amendments • Last Phase: 1/1/20 • Quarterly reporting

  4. HMDA • How is your bank preparing for the new data submissions? • Do you have the resources to handle the expanded reporting requirements? • Are you working with software providers? • Any indication if providers will be ready? • Budget: how much is this going to cost? • Any other concerns?

  5. Enforcement Actions • By far the most we see are UDAAP • Overdrafts • Debt collection • Credit cards and credit products • Mortgage servicing/foreclosure • SCRA

  6. Some Recent Enforcement Actions • Wells Fargo • Mortgage Servicing: $70 million • Sales culture and fake accounts: $35 million • JP Morgan • Mortgage Servicing: $48 million • HSBC • Add on credit protection product: $35 million • Mortgage Servicing: $32.5 million • FNB Omaha • Marketing ID protection: $3.5 million and a C&D Order • First Niagara Bank • Overdraft disclosures: $2 million • Sun National • Mortgage Banking Activities: $25,000

  7. Anything Else on Your Mind…

  8. Questions? Thank you for your participation and input into the conversation! If you have any additional questions, contact Compliance Alliance at hotline@compliancealliance.com or 888-353-3933.

More Related