Regulatory Compliance Services

 

Service Overview

Financial institutions require a specialized approach to managing regulatory compliance in the shift toward a more risk-based focus.  At Campbell & Associates, Inc., we specialize in providing compliance solutions to help ensure that regulatory processes are followed while risks are managed and mitigated at every opportunity.

Benefits to you?

  • Anticipate emerging trends in key regulatory “hot buttons”
  • Identify and minimize regulatory compliance risk applicable specifically to your institution’s structure
  • Comprehensive resources with specialized expertise
  • Provides best practices and operational efficiency recommendations

Compliance Review/Management

The Regulatory Compliance Services provide for the periodic review, monitoring, and determination of the financial institution’s compliance with the various state and federal consumer protection, and other laws and regulations subject to regulatory scrutiny.  The program also provides consultation and staff training in those areas in which compliance may not be considered satisfactory.  In addition, we ensure that the institution has established appropriate procedures and controls for ongoing compliance with those regulations.

Our review services can be performed on either an outsourcing or partnership basis, that works best for the client.  Campbell & Associates, Inc. staff may be utilized as a resource throughout the year to review any proposed advertising, program disclosures for new deposit or loan products to be offered by this institution, Regulation Z disclosures for any unique transactions, etc.  Many of our clients utilize Campbell & Associates, Inc. extensively as a resource for ongoing compliance responsibilities.

In addition to the scope of the Regulatory Compliance Services, Campbell & Associates, Inc. is available to consult with and to provide Management any materials relating to specific policy statements such as CRA Statements, Bank Secrecy Act Policy Statements, Funds Availability disclosures, Customer Identification Policies, etc.  Periodic staff training can be performed to help ensure continued compliance with those regulations requiring documented training, and to address any deficiencies noted.

Following each regulatory compliance review, a detailed report is issued to the Audit Committee of the Board of Directors and Senior Management detailing the scope of the review and specific findings and recommendations resulting from the review procedures performed.  Additionally, a follow up review of previous audit comments and Management’s responses to determine if corrective action has been taken and the results of such review will be reported to the Audit Committee and Senior Management.

The specific related laws and regulations as part of the Regulatory Compliance Services include:

Deposit Regulations:

  • Expedited Funds Availability Act
  • Electronic Funds Transfers Act
  • Interest on Deposits, Eligibility for NOW accounts and MMDA restrictions
  • Truth in Savings Act
  • Bank Protection Act/Minimum Security Devices and Practices
  • Right to Financial Privacy
  • Fair Credit Reporting Act

Lending Regulations:

  • Truth in Lending Act
  • Real Estate Settlement Procedures Act
  • Flood Disaster Protection Action
  • Equal Credit Opportunity Act
  • Home Mortgage Disclosure Act
  • Fair Credit Reporting Act
  • Fair Lending (FFIEC Interagency Guidelines)
  • Fair Debt Collection Practices Act
  • Fair Housing Act
  • Unfair or Deceptive Practices Act
  • Credit Practices Rule
  • Homeowners Protection Act
  • Interest on Loans (OCC-regulated banks)
  • Community Reinvestment Act

Operations:

  • Bank Secrecy Act/Financial Recordkeeping
  • Anti-Money Laundering
  • USA Patriot Act/Customer Identification Program
  • OFAC
  • Privacy
  • Required Lobby Notices
  • Advertising
  • Loans to Insiders (Regulation O)
  • Preservation of Consumers’ Claims and Defenses

Campbell & Associates, Inc. provides clients with expertise that spans all regulatory agencies, a balanced perspective unique among internal and external compliance sources, and a reputation for consistency and reliability over the long term. Our compliance team brings a wealth of knowledge and experience to complement and enhance your existing risk management program.

Benefits to you?

  • Anticipate emerging trends in key regulatory “hot buttons”
  • Identify and minimize regulatory compliance risk applicable specifically to your institution’s structure
  • Comprehensive resources with specialized expertise
  • Provides best practices and operational efficiency recommendations

 
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