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ADI Compliance Consulting
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Knowledge Center

Borrower Experience in the Loss Mitigation Process

Posted: June 24, 2020

Note: This is a cross-post from Person to Person Quality, a division of ADI Consulting. The era of COVID-19 has created unprecedented short-term disruption in the lives of millions of individuals and families. Record-high unemployment, reduced work hours, and rising costs have affected millions of people. For many households, these events create difficulties in making […]

Compliance in the Era of COVID-19: Managing Risk While Meeting Consumer Needs

Posted: June 1, 2020

Lending institutions play a unique and vital role in helping consumers and businesses recover from heavy economic hardships during the COVID-19 pandemic. Businesses are affected by the pandemic in differing ways:  for some it means a slight reprieve in activity and possible opportunity to implement system improvements. For lenders, however, it often necessitates rapidly processing […]

Compliance in the Era of COVID-19: The CRA

Posted: May 21, 2020

The current crisis caused by the COVID-19 pandemic has dramatically changed American society.  The tragic loss of life and unparalleled social and economic disruption make it difficult to imagine any community and industry that will not face long-term effects. More than a decade removed from the housing crisis and the resulting Great Recession, banks once […]

News

OCC Releases Semiannual Risk Perspective – Warns of Covid-19 Related Increased Risk

Posted: July 2, 2020

On June 29th, the Office of the Comptroller of the Currency (OCC) released its Semiannual Risk Perspective report, finding that due to the current COVID-19 pandemic will stress institutions’ financial performance this year. The report also said that compliance risk is on the rise, in part because of federal programs related to the CARES Act and […]

CFPB Issues Interpretive Rule on Method for Determining Underserved Areas

Posted: June 25, 2020

On June 23rd, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule to provide guidance to creditors and other persons involved in the mortgage origination process about the way in which the Bureau determines which counties qualify as “underserved” for a given calendar year. issued Tuesday.  The guidance is necessary, the CFPB said, because […]

Santander Agrees to Pay $550M to Settle Auto-Lending Lawsuit

Posted: May 26, 2020

Last week, Santander Consumer USA Holdings, which is part of Santander Bank, settled with 33 states and the District of Columbia through payments of $550 million. The settlement was the culmination of its long-standing effort to resolve compliance problems that arose six to ten years ago, from 2010 to 2014.  Broadly, the accusation was that […]

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