Regulatory Compliance
Services Offered Include the Following:
All reviews are customizable to the audit scope established by your organization. Please
contact us to further discuss services offered.
Consumer Compliance Review
Our consumer compliance review services provide a targeted assessment of your institution’s compliance with a range of federal consumer protection regulations. This review is designed to generally simulate the consumer compliance exam performed by your institution’s primary federal regulatory and can be an excellent tool to assist management in monitoring the status of the bank’s consumer compliance program. Due to the normal frequency of consumer compliance exams, this review service can also provide an excellent mechanism for monitoring compliance with ever-evolving regulations during interim periods between examinations. Regulations that may be included in the scope of this review include the following:
Lending Regulations:
- Truth-In-Lending (Regulation Z) and the Homeowners and Equity Protection Act
- Real Estate Settlement Procedures (Regulation X)
- Equal Credit Opportunity (Regulation B)
- Fair Housing Act
- Flood Disaster Protection Act
- Consumer Protection for Depository Institution Sales of Insurance
- Unfair or Deceptive Acts or Practices (Regulation AA)
- Preservation of Consumer Claims and Defenses
- Fair Credit Reporting Act and Fair and Accurate Credit Transactions Act
Deposit & Other Regulations:
- Interest on Deposits (Regulation Q)
- Electronic Fund Transfer Act (Regulation E)
- Expedited Funds Availability Act (Regulation CC)
- Truth in Savings (Regulation DD)
- Privacy of Consumer Financial Information
- Right to Financial Privacy Act
- Advertising regulations and Web site review, as applicable
Bank Secrecy Act Review
Our Bank Secrecy Act (BSA) review services provide a detailed assessment of your institution’s compliance with the extensive requirements of the BSA. Our BSA review services include review of a range of pertinent BSA concerns, including the following:
- BSA Policies and Risk Assessment;
- Training Processes;
- Customer Due Diligence Program; including:
- Government Monitoring Lists;
- CIP Compliance Program;
- High-risk Account Management;
- Currency Transaction Reporting;
- Suspicious Activity Reporting; and
- Financial Recordkeeting Requirements.
Home Mortgage Disclosure Act Review & Consulting
Our Home Mortgage Disclosure Act (HMDA) review services range from limited transaction testing designed to assess the overall accuracy of your institution’s HMDA Loan Application Register (LAR) to comprehensive “HMDA Scrubs” in which all LAR entries are reviewed for a given time period. We also offer an array of consulting services for institutions that are new HMDA reporters or that have experienced difficulty in managing their HMDA compliance program.
Fair Lending Review
Fair lending reviews provide an assessment of your instituion’s compliance with a range of federal regulations regarding the “fair” treatment of classes of individuals that possess a “prohibited basis” characteristic as defined by regulatory guidance such as the Interagency Fair Lending Examination Procedures. These reviews are fully customizable to the regulatory requirements, asset size, and complexity of your institution and generally consist of transaction testing of a representative sample of loan products throughout the bank to assess compliance with fair lending regulations. Depending on the scope of your review, we also generally perform extensive interviews and comparative analysis in order to detect any adverse fair lending trends or relationships.
Community Reinvestment Act Review
Superior Consulting’s Community Reinvestment Act (CRA) review services also range from limited review of your bank’s CRA public file and lobby disclosures to a comprehensive assessment of the status of your CRA compliance program. We have assisted a wide array of institutions meet their small, intermediate, or large bank CRA requirements.
Policy Development
In addition to review services, we also offer policy development services to assist bank’s in the implementation of comprehensive BSA and compliance programs. Our development services include policy creation and implementation assistance, review of forms and disclosures, and review of advertising and website content. Through this service offering, we have been able to provide expert development and consulting services to a substantial number of de novo and “problem” institutions.
Training
In addition to the review and policy development services discussed above, we also offer a suite of fully customizable compliance and BSA training services. Our training solutions range from two hour general BSA training sessions designed to meet your annual BSA training requirements for all bank personnel to full day consumer compliance training seminars. We also offer training programs designed to assist new compliance and BSA officers learn the responsibilities and applicable regulations for their assigned positions.
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