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The agency found a 40% error rate in the 2016 data submitted by the Seattle bank. In addition to the fine, the institution is required to improve its compliance systems.October 27
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The agencies are still at odds over how to reform the scoring system in Community Reinvestment Act exams, but experts say the central bank’s recent draft proposal suggests a deal could be struck.October 1
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Periods of significant loan defaults are tough on banks and force unpleasant choices. Here are steps to evaluate collateral in such uncertain times.June 1
Founder and CEOPromontory Financial Group
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Facebook and other social media platforms are a powerful way to connect members and loan officers, but lenders must ensure they first have a culture of compliance.March 13
CEOGremlin Social
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The National Credit Union's ACET tool will have a big impact on the industry, but passing the exam with flying colors could be a challenge for smaller shops.December 18
Director of North American Sales and Business DevelopmentCygilant
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Service would help with compliance; JPM CEO sees more short-term lending rate spikes if no long-term solution implemented.November 6
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The National Credit Union Administration board member is requesting comment on a proposal to create new consumer compliance measures for "large, complex credit unions."October 30
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New tech can help banks with less cumbersome systems track suspicious activity more effectively.October 16
Executive Managing DirectorK2 Intelligence
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The deal expands the number of compliance tools owned by credit union leagues and other industry groups.September 23
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Banks need to ensure those building new business are driven to look for evidence of illegal activity.April 24
PresidentKYC Solutions Inc.
