No Matter Who Wins the Election, Here’s What Will Impact You

New Regulations

Regulatory bodies come and go. Although it may be hard for those of us aligned with the financial services industry to remember a time before the Consumer Financial Protection Bureau, the agency has only been around since 2011. And as we wrote in a recent blog post, the CFPB is still undergoing significant changes as businesses and lawmakers grapple over its structure and the scope of its authority.

The only real constant is change. Regulations may become more restrictive or less restrictive depending on which party holds more power in Washington. For more perspective on each candidate and party’s attitudes toward regulatory actions, read “Clinton vs. Trump vs. the CFPB.”

An Evolving Workforce

Immigration has been one of the issues at the forefront of this presidential race, and not for no reason: it’s one of the primary forces shaping the next generation of American workers. Here’s a cool fact: immigrants and their children have founded more than 40% of Fortune 500 companies.

To top that off, the American workforce also holds the largest generational spread it’s ever seen. And as workers push their retirement ages back further and further, that’s a trend that’s not fading away any time soon.

So, here’s your challenge: Different generations and ethnicities bring different values, communication styles and ways of learning to the workforce and to business as a whole. How are you building your compliance program to accommodate this?

Smarter Technology

Across industries, technology has formed the backbone of modern business. Cloud services, mobile devices, data analytics and the internet of things have all streamlined inefficient processes and provided more people with greater access to all kinds of information. As a result, the world is now producing an unprecedented amount of data every day.

How will you harness that data? What can you do to continually secure sensitive information about your organization and its customers? And how do you stay on top of the latest advancements in technology?

Lack of technical knowledge shouldn’t get in the way of following the law or maintaining best practices. If your technology is keeping you out of compliance, watch our recent webinar on the subject to learn what you’re missing and see how easy it is to stay up-to-date.