Monthly Archives: February 2016

Redesigning a Bank’s BSA/AML Customer Risk Scoring Model and Enhanced Due Diligence Strategy

ADI was engaged by a community bank to overhaul its BSA/AML customer risk-scoring model and provide tools so that it could more effectively manage its Enhanced Due Diligence (EDD) program for high-risk customers. Assessing the Challenge BSA/AML risk is dynamic and must be continuously managed. It is critical that risk ratings accurately reflect current risks, [...]

February 22nd, 2016|

CFPB announces HMDA file specifications for 2017 and 2018

The Home Mortgage Disclosure Act (HMDA) file specifications for 2017 and 2018 are now available for download  on the Resources for HMDA Filers page on the CFPB's website Of note, the file format is being changed from a fixed field file to a delimited file format beginning with files submitted for 2017.  The 2018 file [...]

February 19th, 2016|

CFPB and DOJ Reach Settlement with Toyota for Fair Lending Violations

On February 2, the Consumer Financial Protection Agency and the Department of Justice announced a $21.9 million dollar settlement with the Toyota Motor Credit Corporation. According to the CFPB and the DOJ, Toyota Motor Credit policy, which gives auto dealerships discretion in how much interest rate markup they pass along to consumers, resulted in higher rates [...]

February 4th, 2016|