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Avoid Costly HMDA Data Submission Issues
The Consumer Financial Protection Bureau (CFPB) released the 2022 Modified LAR on March 20, 2023. We are already finding data integrity issues in publicly released HMDA data. Now is a great time to be sure your HMDA preparation and submission tool can help you identify data integrity issues before submission. Unfortunately, there are tools out…
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Understanding the New Small Business Lending Rule
The Consumer Financial Protection Bureau (CFPB) recently introduced a new rule regulating small business lending practices. The rule addresses concerns over predatory lending and ensures that small businesses have access to fair and transparent financing options. This blog post will discuss the critical elements of the new small business lending rule and what it means…
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2022 NCUA Annual Report: A Guide for Credit Unions on Fair Lending Compliance
The National Credit Union Administration (NCUA) recently released its 2022 Annual Report, which highlights its ongoing commitment to fair lending practices. The report discusses the agency’s efforts to strengthen consumer financial protection and fair lending examination programs, including the addition of two new fair lending specialist positions. The report emphasizes the importance of reviewing compliance…
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Fair Lending Workshop to Present at CUNA Consumer & Residential Mortgage Lending School
Event Date: April 02 – April 06, 2023 ComplianceTech will present at the CUNA Fair Lending Pre-Conference Workshop in San Diego, CA The mortgage lending market is a wide and ever-evolving field that requires access to up-to-date, reliable information on a variety of topics to remain competitive. Join us to stay abreast of the most…
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Webinar: Building Prevention into Your Fair Lending Program
Join us for this Free Webinar on Tuesday, February 15th at 2:00 PM Eastern. This is a fair lending training webinar for compliance professionals. Tory Haggerty from Tuscan Club University will review building prevention into your fair lending program. The training will include a review of the loan life cycle and the fair lending risks…
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ComplianceTech’s Dana Ginsburg – Guest Speaker CRA Hub
ComplianceTech’s Dana Ginsburg will be a guest speaker at the February 16th CRA Hub workshop for members. The topic presented will be Fair Lending Fundamentals for CRA Officers. For more information about joining CRA Hub, visit https://cratoday.com/hub/. The CRA Hub membership was created exclusively for bankers to connect, get exam ready, and master the art…
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Section 1071: Small Business Data Collection & Reporting Webinar
ComplianceTech will host a free webinar on February 9, 2023, at 3:30 PM Eastern. Join us for a conversation about Section 1071 including expert guidance related to small business data collection and reporting. Topics will include: A. Understanding the 1071 proposed rule and the data elements B. High-level Comparison of 1071 to HMDA C. Conducting…
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How to Perform a Redlining Analysis and Why: Free 60 Minute Webinar
Do you struggle with how to assess redlining risk for your company? Did you know there are multiple ways to analyze redlining? Do you know how policies impact redlining outcomes? Did you know that redlining analysis can go back several years? With ComplianceTech’s proven software, LendingPatterns™, you can easily monitor potential redlining risks. Here are…
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CRA (Community Reinvestment Act) State Laws
We all know the Community Reinvestment Act (CRA) was enacted in 1977. It requires banks to meet the needs of communities in which they do business with a specific emphasis on lending to low- and moderate-income borrowers and/or in low- and moderate-income census tracts. Many mortgage companies (non-bank lenders) assume they do not have to…
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Section 1071 Small Business Lending Fair Lending Analysis
Recently, there has been a lot of buzz surrounding the implementation of Section 1071 for Small Business Lending and its impact on the financial services industry. What we do know is that the CFPB is in the process of writing regulations to implement Section 1071 of the Dodd-Frank Act. ComplianceTech will be ready when it…