Blog
List of articles
ComplianceTech will present at the CUNA Lending eSchool 2023
Event Date: November 20-December 14, 2023 Registration Link CUNA Lending eSchool 2023Event Date: November 20 - December 14, 2023 Recorded Available Until: October 31, 2024 One of the important ways credit unions serve their members is through offering critical and...
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...
Mortgage Lending to Black Americans
Maurice Jourdain-Earl, Managing Director of ComplianceTech, recently released a 10-Year Trend Analysis detailing mortgage lending to Black Americas from 2012-2021. The full report is available for download using the link below. There...
The Latest DOJ Redlining Settlement: Lessons Learned
The US Department of Justice (DOJ) announced its Combatting Redlining Initiative in the fall of 2021. Each redlining settlement provides a roadmap for lenders to follow to ensure that lending activity is adequately monitored. Of utmost importance is ensuring that if...
Addressing Appraisal Disparities: Leveraging HMDA Data for Fair Lending Practices
Since the release of a Freddie Mac study in September 2021, numerous articles and studies have further explored the issue of appraisal disparities. These reports and articles highlighted significant gaps in property valuations by tract majority race and applicant...
ComplianceTech will attend ABA RCC Conference
ComplianceTech is excited to announce its participation in the upcoming American Bankers Association (ABA) Regulatory Compliance Conference from June 13-16, 2023. This conference is a premier event for regulatory compliance professionals in the banking industry, and...
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...
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...
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...
Key Questions to Ask about CRA Submission Software
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...
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...
8 Key HMDA, Fair Lending, & CRA Developments in 2022
Let’s recap what has happened in 2022 on three different fronts: HMDA, fair lending, and CRA (the Community Reinvestment Act). I count eight important developments. These are listed in no particular order below: 1. In 2022, the FFIEC released new census tract...
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...
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...
Practical Guidance on How to Monitor and Assess Redlining Risk
This article will highlight a few recent high profile redlining cases and their settlements. Then, we will explain how fair lending software and consulting can help mortgage lenders evaluate their redlining risk. Our tools are guided by the following settlements...