by Debbie Malzahn | Apr 17, 2024 | blog
Compliance with the Community Reinvestment Act (CRA) is essential for financial institutions that want to remain in good standing with regulators and the communities they serve. The CRA requires banks and other lenders to meet the credit needs of the communities in...
by Debbie Malzahn | Nov 29, 2023 | blog, CFPB, HMDA, Uncategorized
In light of recent news regarding Bank of America’s penalties for inaccurate reporting under the Home Mortgage Disclosure Act (HMDA), it’s evident that precise reporting and adherence to HMDA regulations are paramount. Leveraging advanced HMDA analytical...
by Debbie Malzahn | Nov 9, 2023 | blog
In life it’s a common adage that “an ounce of prevention is worth a pound of cure.” Nowhere is this wisdom more evident than in the realm of fair lending compliance practices. For banks and financial institutions, compliance with fair lending laws is...
by Debbie Malzahn | Oct 30, 2023 | blog, Uncategorized
In light of recent Department of Justice (DOJ) complaints, banks can draw valuable lessons from the list below on how to avoid redlining and promote fair lending practices. These lessons are essential for ensuring that banks serve the credit needs of the entire...
by Debbie Malzahn | Jun 14, 2023 | blog
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...
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