There’s less than a week until our August webinar, Time for a Modern Compliance Program. On 8/23 at 11am Pacific (2pm Eastern), we’ll host an hour-long presentation about creating a compliance program flexible enough to survive today’s changing regulatory environment.
The latest financial services compliance news, tools, and insights to keep you cool, calm and compliant.
Right now probably isn’t the best time to start a small-dollar lending business. On levels both state and federal, financial regulators are setting their sights on operations that offer consumers payday loans and other kinds of of short-term credit with high annual percentage rates.
On Monday, the RAND Corporation released the first-ever American Working Conditions Survey (AWCS), and the results reveal a bleak state of affairs for those employed in the United States.
Next Monday, people throughout North America will be able to experience an extraordinary, once-in-a-lifetime event. No, I’m not referring to National Spumoni Day. Around 9am PDT, the moon will appear to cover the sun, forming a total solar eclipse viewable along a path that stretches from Oregon to South Carolina.
The Consumer Financial Protection Bureau’s contentious final rule on arbitration agreements is scheduled to go into effect soon, and it looks like Congress won’t be able to stop it. According to American Banker, “[t]he [finance] industry has been counting on a Republican-controlled Congress to strike down the CFPB’s rule using the Congressional Review Act, but […]
Last week, we showed you the difference between a compliance management system and a “management system”—i.e. overhead masquerading as compliance. This week, we’re going to teach you how to develop the former, through 3 fundamental questions. Ready, set, go!
If it doesn’t make you happy, let it go. You’ve heard this advice in books, articles, and podcasts. Maybe you have a therapist or friend or parent or spouse who’s told it to you. Or maybe it came to you in a moment of clarity: Why do I need all this stuff? Why am I holding […]
Your business doesn’t stop. Neither should your compliance program. Motivated by a regulatory update, new area of risk, or recent industry scandal, a financial services company may decide it’s time to prioritize and overhaul its Fair Lending compliance processes. Your organization may invest in new technology, bring in legal experts, and conduct intensive training for a […]
Without compliance, a compliance management system is, well, a “management system”—which means nothing but overhead. Certainly, a CMS should encompass more than just workforce processes, training modules, and activities, but make no mistake: these elements are fundamental, and shouldn’t be treated as an afterthought.
On July 12th, with help from our friends at Hudson Cook, we posted about the 12 Steps to Start a Compliance Program. Today we have a follow up post from Tom Hudson and Erik Johnson about how to take your compliance program to the next level. In Step 2 of that article, they recommended you appoint […]