Compligo for Consumer Lending
As a lender, you need to demonstrate to both your bank and the Consumer Financial Protection Bureau that your company is compliant with fair lending regulations. Developing a compliance management system is the safest way to do this.
The Backbone of Your
Compliance Management System
Compligo helps finance companies like yours stay in compliance with fair lending regulations, and stay out of both regulator’s and auditor’s crosshairs. The cloud-based system is easy-to-use and mobile-enabled. Compligo provides a turn-key way to:
- Manage your compliance program
- Track consumer complaints
- Monitor & report on all activities
All so you remain audit-ready to CFPB examiners, your bank’s compliance team, and your internal stakeholders.
Build Your Compliance Program with Compligo
Compligo consolidates your assigned fair lending policies, online training, and forms activities into a single view. And our experienced implementation team helps make sure your compliance program has the right content. Compli’s policies and training are developed and continuously updated by Hudson Cook, an industry leader in consumer financial services law, to ensure you stay on top of the latest regulations.
Consumer Finance for Lenders Policy Pack
To keep out of the CFPB’s crosshairs, your compliance program needs the right content – developed by industry experts who understand your exposure. Compli partners with financial services experts to develop industry-specific content to keep you cool, calm and compliant. Take advantage of these turn-key policies, forms and assessments built specifically for lenders:
- Adverse Action Policy
- Adverse Action Periodic Audit Form
- Electronic Fund Transfer (ETF) Act and Regulation E
- Equal Credit Opportunity Act (ECOA) and Regulation B
- Fair Credit Reporting Act and Regulation (FCRA) V Adverse Action Notices
- Fair Credit Reporting Disposal Rule
- Fair Credit Reporting Furnisher and Dispute Rule
- Fair Credit Reporting Permissible Purpose
- Fair Credit Reporting Red Flags Rule
- Fair Credit Reporting Risk Based Pricing Rule I
- Fair Debt Collection Practices Act
- Gramm-Leach-Bliley Act (GLBA) and Regulation P
- Introduction to Non-Mortgage Consumer Lending
- Office of Foreign Assets Control (OFAC) Compliance
- Servicemembers Civil Relief Act (SCRA)
- Suspected Misconduct Report Form
- Telephone Consumer Protection Act (TCPA)
- Third Party/Dealer Application Form
- Truth in Lending Act/Regulation Z (TILA)
- Unfair, Deceptive and Abusive Practices Policy (UDAAP)
Consumer Complaint Tracking
Part of an effective compliance management system includes policies and procedures for the responsive and responsible handling of consumer complaints and inquiries. Compligo supports the procedures and policies to manage consumer complaints. The platform helps you organize, and retain the resulting findings so you can analyze results and make required changes in products, procedures, and/or training.
Reporting, Feedback, & Process Improvement
A key pillar of the CFPB Compliance Management System guidelines recommends you have comprehensive reporting capabilities to produce documentation necessary for an audit by either your lender or the CFPB. In Compligo, every activity is time-stamped and easily reportable. With this insight you are able to uncover deficiencies, and remediate problems giving you an ongoing feedback loop to help you improve your processes and procedures.
How Our Customers Use Compligo as the Backbone of Their CMS
Compli offers a turnkey Compliance Management Solution for small lenders that provides the backbone for your Compliance Management System.
Included in the solution:
- Compligo Platform
- Consumer Finance for Lenders Policy Pack
- Consumer Complaint Tracking
Special pricing available for lenders with fewer than 30 employees.
Lenders are under unprecedented scrutiny when it comes to complying with fair lending regulations. If you are found out of compliance, you could get fined, incur damage to your reputation, lose access to capital. That’s where an automated CMS comes in.