Mystery shopping is a form of internal self-testing—and a technique that banks may be subjected to by external organizations. Raise your fair lending IQ with compliance-focused aspects of mystery shopping.
Browsing: Compliance and Risk
The Consumer Financial Protection Bureau today issued a consumer complaint bulletin that focused on complaints related to certain COVID-19 relief efforts.
The Federal Housing Finance Agency issued a policy statement today stating its position on fair lending laws with respect to the entities it regulates: Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
With pandemic-related rental protections set to expire over the coming months, the Consumer Financial Protection Bureau today issued a compliance bulletin and policy guidance regarding consumer reporting of rental information.
As banks move to responsibly integrate artificial intelligence and machine learning capabilities into their business processes, the American Bankers Association this week urged regulators to focus on providing greater clarity around the use of AI and ensuring that there is a consistent regulatory standard for its use across all financial services providers.
Adopting multiple solutions, or “cloud bandwagoning,” is bound to create friction within a bank’s systems—resulting in unpredictable consequences.
The Financial Crimes Enforcement Network today signaled that it intends to move ahead with a rulemaking to establish a no-action letter process.
The Federal Financial Institutions Examination Council today issued a new booklet providing guidance to help examiners assess the risk profile and adequacy of an entity’s information technology architecture, infrastructure, and operations.
As part of its ongoing work on non-bank financial intermediation and following significant volatility in short-term funding markets early in the pandemic, the Financial Stability Board is seeking comments on various policy proposals aimed at enhancing the resilience of money market funds.
The Consumer Financial Protection Bureau today issued a “Supervisory Highlights” report focusing on recent examiner observations of several financial products. Among other things, examiners flagged issues related to consumer reporting, debt collection and payday lending.