Consumer Protection and Compliance2018-08-29T13:44:24+00:00

Project Description

Consumer Protection and Compliance

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LogicManager Consumer Compliance Regulatory Guidelines PluginThe Federal Reserve has made consumer protection a priority. All banks and their subsidiaries, especially those with assets of $10 billion or less, are now expected to exhibit strong compliance risk management practices. Moreover, their compliance programs have been explicitly directed to demonstrate a “risk-focused” approach. The Federal Reserve’s Community Bank Risk-Focused Consumer Compliance Supervision Program describes a risk-focused approach as “identifying, measuring, monitoring, and controlling risks and practices regarding the treatment of consumers, the potential for consumer harm, and compliance with consumer protection laws and regulations.”

Other aspects of the Federal Reserve’s framework include expectations for both collaboration and scalability. As your bank evolves, so too must its compliance risk management practices, which includes engaging other functional disciplines like vendor management, IT risk management, and business continuity

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Learn how LogicManager’s compliance software safeguards thousands of organizations from harmful pitfalls here!

In order to demonstrate successful implementation of a risk-based program, LogicManager’s ERM point solution for Regulatory Guidance for Consumer Compliance Regulations generates actionable checklists and best practices from agencies like the FDIC, OCC, and Federal Reserve System. By assigning responsibility for compliance activities and controls, your bank can create accountability and centralize its regulatory compliance management process, while conducting risk assessments of business processes to identify emerging concerns.

Implementation guidance is provided for the vast majority of consumer compliance regulations, and updated as critical changes and new procedures are implemented by regulatory agencies.

  • Reg A – Loans to Banks
  • Reg B – Equal Credit Opportunity Act (ECOA)
  • Reg C – Home Mortgage Disclosure Act (HMDA)
  • Reg D – Reserve Requirements of Depository Institutions
  • Reg E – Electronic Funds Transfer Act (EFTA)
  • Reg F – Limitations on Interbank Liabilities
  • Reg G – Disclosure and Reporting of CRA Related Agreements
  • Reg H – Membership of State Banking Institutions in the Federal Reserve System
  • Reg I – Issue and Cancellation of Federal Reserve Bank Capital Stock
  • Reg J- Collection of Checks and Funds Transfer
  • Reg L – Management Official Interlocks
  • Reg O – Insider Lending
  • Reg P – Privacy of Consumer Financial Information
  • Reg R – Exceptions for Banks from the Definition of Broker in the Securities Exchange Act of 1934
  • Reg S – Reimbursement to Financial Institutions for Providing Financial Records
  • Reg T – Credit by Brokers and Dealers
  • Reg U – Credit by Banks and Persons other than Brokers or Dealers for the Purpose of Purchasing or Carrying Margin Stock
  • Reg V – Fair Credit Reporting Act (FCRA)
  • Reg W – Transactions between Member Banks and Their Affiliates
  • Reg X – Real Estate Settlement Procedures Act (RESPA)
  • Reg Y – Bank Holding Companies and Change in Bank Control
  • Reg Z – Truth in Lending Act (TILA)
  • Reg AA – Unfair, Deceptive, or Abusive Acts or Practices (UDAAP)
  • Reg BB – Community Reinvestment Act (CRA)
  • Reg CC – Availability of Funds and Collection of Checks
  • Reg DD – Truth in Savings Act
  • Reg FF – Obtaining and Using Medical Information in Connection with Credit
  • Reg GG – Prohibition on Funding of Unlawful Internet Gambling
  • Americans with Disabilities Act
  • Bank Bribery Act
  • Bank Secrecy Act (BSA)
  • Branch Signage
  • Children’s Online Privacy Protection Act (COPPA)
  • Comprehensive Environment Response, Compensation, and Liability Act (CERCLA)
  • Controlling the assault of Non-Solicited Pornography and Marketing Act (CAN-SPAM)
  • Electronic Signatures in Global and National Commercial Act (ESIGN Act)
  • Fair Housing Act of 1968 (FHA)
  • Fair Lending Act
  • FDIC Improvement Act
  • Federal Deposit Insurance Act
  • Flood Disaster Protection Act
  • Foreign Account Tax Compliance Act (FATCA)
  • Foreign Corrupt Practices Act (FCPA)
  • Health Insurance Portability and Accountability Act (HIPAA risk assessment checklist)
  • Homeowners Protection Act (HOPA)
  • Identity Theft and Assumption Deterrence Act
  • Office of Foreign Assets Controls (OFAC)
  • Prohibited Banking Activities – Lottery, etc.
  • Remote Deposit Capture
  • Right to Financial Privacy Act
  • The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act)
  • Social Media/Website
  • Telemarketing and Consumer Fraud and Abuse Prevention Act
  • USA Patriot Act
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