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ADI Compliance Consulting
2750 Prosperity Ave., Ste. 500
Fairfax, Virginia 22031

P: 703-836-1517
E: info@adiconsulting.com

Compliance Consulting Services

Fair Lending
Bank Secrecy Act/Anti-Money Laundering (BSA/AML)
Home Mortgage Disclosure Act (HMDA)
Community Reinvestment Act (CRA)

Knowledge Center

Aligning Fair Lending Testing with Why Consumers Withdraw their Mortgage Applications

Posted: February 18, 2021

Download This Article Withdrawn applications reflect an increasing proportion of non-approved first-lien mortgage applications as denials have become relatively less numerous. A decade ago, based on 2009 HMDA data, denials comprised just over one-half (53 percent) of non-approved first-lien applications. Denials fell to less than one-third (31 percent) of non-approvals a decade later. Over the […]

AML Act of 2020 – 5 Key Takeaways

Posted: February 3, 2021

On January 1, 2021, Congress passed the National Defense Authorization Act (NDAA), addressing a variety of defense and national security matters, including the most substantial and sweeping legislative reforms to US anti-money laundering (AML) and counter-terrorism financing (CFT) laws since the USA Patriot Act of 2001. The NDAA introduces these AML/CFT amendments and enhancements in […]

Updated Census Bureau Data May Create New Compliance Risk for Lenders in 2022

Posted: January 25, 2021

Download This Article With the transition between presidential administrations, new regulations, and the ongoing effects from the pandemic and corresponding economic crisis, lenders are facing a dynamic environment in 2021 with respect to managing compliance risk under Fair Lending laws and the Community Reinvestment Act (CRA). There is another factor, however, receiving less attention but […]

News

CFPB Signals Discrimination Based on Sexual Orientation or Gender Identity is Illegal

Posted: March 10, 2021

On March 9, 2021, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an Interpretive Rule that the prohibitions against sex discrimination in the Equal Credit Opportunity Act (ECOA) and Regulation B encompass sexual orientation discrimination and gender identity discrimination. When published, the rule will have immediate effect. The new interpretive rule follows a landmark Supreme Court […]

NYDFS Calls For Nonbank Community Lending Requirements, Cites Hunt Mortgage

Posted: February 8, 2021

On February 4th, State financial regulators cited Buffalo-based Hunt Mortgage Corp. (Hunt) for weakness in lending to minorities and minority neighborhoods, as they released a report finding an overall lack of lending by nonbank mortgage companies in Buffalo, despite laws banning the practice of redlining. Hunt is a subsidiary of Hunt Real Estate Corp., the […]

FinCEN Answers FAQs and Offers Guidance on SAR Reporting

Posted: January 28, 2021

On January 21, 2021, the Financial Crimes Enforcement Network (FinCEN), along with federal financial institution regulators, issued responses to frequently asked questions on suspicious activity reports (SARs) and other anti-money laundering (AML) requirements. The stated goal of this release is to clarify regulatory requirements and assist financial institutions with compliance obligations, particularly SAR filing, while […]