Laudably, many banks are responding to the current economic situation by working with borrowers to restructure mortgages, avoid defaults, stem foreclosures, and keep people in their homes.

As they do so, credit risks are doubtless at the forefront of their attention, but banks should be wary of compliance risks, too. The good news is that compliance risks fall into four categories, and the steps for mitigating these risks are manageable.

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