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Navigating GMI Compliance: Avoiding Penalties in HMDA Reporting
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 software empowers lenders to take proactive steps toward compliance and avoid similar pitfalls. The Significance of Government Monitoring Information…
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Mitigating Redlining Risk: A Bankers’ Guide
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 community, without discrimination. The good news is that for many of these…
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Webinar: Navigating Fair Lending for Credit Unions
Welcome to the webinar: Navigating Fair Lending: Insights into Risk Assessments and Monitoring for Credit Unions! You can access the recording: Webinar Recording Link We will address the following topics during the July 18, 2023, webinar at 1:30 PM Eastern Standard Time. Fair Lending Hot Topics for CUs In today’s regulatory environment, credit unions face…
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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 ComplianceTech is thrilled to participate in it. As a leading provider of cloud-based fair lending compliance solutions, ComplianceTech will…
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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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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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First Redlining Settlement Against Mortgage Company; Second Largest Redlining Settlement in Justice Department History
The Department of Justice, the Consumer Financial Protection Bureau (CFPB), and the Attorneys General of Pennsylvania, New Jersey, and Delaware announced today agreements to resolve allegations that Trident Mortgage Company (Trident), which is owned by Berkshire Hathaway Inc., engaged in a pattern or practice of lending discrimination by “redlining” in the Philadelphia metropolitan area, including…