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

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

Knowledge Center

Does Your CRA Assessment Area Present Redlining Risk?

Posted: January 10, 2019

In May 2018, the Department of Justice (DOJ) reached a settlement with KleinBank regarding a Redlining-related lawsuit filed by the DOJ against the bank in January 2017.  In the lawsuit, the DOJ alleged the bank “engaged in unlawful redlining of majority-minority neighborhoods in the Minneapolis-St. Paul metropolitan area” from 2010 through 2015. The DOJ found […]

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The Modern CRA Service Test: 6 Trends That Banks Need To Know

Posted: December 18, 2018

Download This Article While banks have operated under the Community Reinvestment Act (CRA) for 40 years, the range of CRA Services they provide to meet the Service Test has grown.  Over this period, banks have responded in many creative and impactful ways to meet the needs of their communities, particularly in services. The Service Test […]

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The Investment Test: What Banks Need to Know

Posted: August 13, 2018

Banks have operated under the Community Reinvestment Act (CRA) for 31 years.  The CRA requires banks to help meet the needs of low- and moderate-income (LMI) persons and distressed geographies through lending, investment, and service.   Over this period, banks have responded in many creative and impactful ways to the needs of their communities, particularly in […]

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News

Former U.S. Bank Risk Officer Fined $450K for AML Compliance Failures

Posted: March 16, 2020

The Financial Crimes Enforcement Network (FinCEN) has assessed a $450,000 civil money penalty against Michael LaFontaine, former chief operational risk officer at U.S. Bank, for his failure to prevent violations of the Bank Secrecy Act (BSA) during his tenure. According to the FinCEN order, Michael LaFontaine at various times had responsibility for overseeing U.S. Bank’s anti-money laundering […]

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2018 HMDA Data Now Available

Posted: September 3, 2019

On Friday, August 30, 2019, the Federal Financial Institutions Examination Council (FFIEC) announced the availability of data reported under the Home Mortgage Disclosure Act (HMDA) for 2018 lending activity. The newly released datasets follow the release of the modified HMDA data in March 2019, which provided lender-level datasets. The newly released data includes a static […]

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OneWest Bank reaches settlement on redlining allegation

Posted: August 2, 2019

On July 29, 2019 the U.S. Department of Housing and Urban Development (HUD) announced its approval of an agreement between the California Reinvestment Coalition (CRC) and OneWest Bank. This complaint settles allegations by CRC that the bank discriminated against minority communities in the Los Angeles metropolitan area. The complaint filed with the HUD in 2017 […]

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