Last week the Federal Reserve Bank of Boston released the written agreement between Santander Holdings USA, Inc. and the Federal Reserve Bank. There are at least two things about this document that are noteworthy: (1) the level of detailed requirements and (2) the fact that the Boston Fed Bank made this level of detail public. […]
The Consumer Finance Protection Bureau prides itself on being a data driven organization when it comes to fair lending compliance. What does that mean for a compliance officer? More importantly, what does it mean for your next fair lending compliance exam? Does it mean more number crunching? In part, yes, but it also means much […]
This week the Department of Justice published its Equal Credit Opportunity Act or ECOA annual report to Congress. Some of the data in the report makes for interesting reading. A Look at the Numbers For 2014 DOJ received 18 referrals from the various agencies (CFPB, FDIC, FRB, OCC NCUA, HUD and the FTC). Twelve of […]