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5 Regulatory Compliance Priorities for 2012 & Beyond

1 min read
Jan 6, 2012

Our friends at Treliant have done a good job trying to narrow down five areas of focus for 2012 in their just-published article “Compliance Needs to Start with the CEO.” 

In it, they outline not only why it's important for CEOs to lead compliance efforts, but which areas to prioritize. We couldn’t agree more with the following statement: “Narrowing down bank regulatory issues to five priorities is inherently difficult in these extraordinary regulatory times, but if these five are in good shape, the bank has a good chance of having a quiet 2012 on the compliance front.”

  1. UDAAP (Unfair, Deceptive, or Abusive Acts or Practices)
  2. Comprehensive Fair Lending Check Up (Mortgage and beyond)
  3. Proactive Redlining Review (Know where the dollars are going)
  4. Small Business Lending (Data collection)
  5. BSA/AML Programs Working Effectively

We think this guidance list is right on the money, but we would like to add one other simple reminder for 2012:  Data that is reported and associated with activity from 2012 must use new census tract definitions. 2012 HMDA and CRA data collection require the use of new 2010 census tracts. 

TRUPOINT Viewpoint: Compliance really does start with the CEO. With the right tone from the top, the rest of the institution will be able to truly embrace and understand compliance essentials.

Please note that these five areas (plus one) can become less of a burden with the right analytics partner that will analyze your Fair Lending / HMDA data and help you identify risks. At TRUPOINT Partners, we are here to help. Contact us today to learn more!

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