The Compliance 911 Show

Dean Stockford - Len Suzio
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The Compliance 911 Show

Welcome to Compliance 911, a no-nonsense, cut to the point, style show for today’s busy bank and credit union compliance professionals. With this series of bi-weekly shows our goal is to boil down some of today’s hottest regulatory compliance topics in quick and easy to digest 5-10 minute episodes so you can get the information you want and get on with your day. We’ll be discussing topics like CRA, HMDA, Fair Lending, Anti Money Laundering, and so much more. Don’t forget to subscribe and tell a friend about us! Follow M&M Consulting and GeoDataVision us on LinkedIn to get the latest updates.

  1. HÁ 6 DIAS

    Regulatory environment after the historic election and what we learned from the recent TD Bank penalty.

    The discussion highlights the potential for regulatory shifts, particularly around CRA and Dodd-Frank 1071, though changes may take 18-24 months. The conversation shifts to the unprecedented $3 billion penalty against TD Bank. In a press release from the  Department of Justice, Attorney General Merrick Garland said, "By making its services convenient for criminals, TD Bank became one."  The press release also said the TD Bank plea marked "the first instance of a U.S. bank pleading guilty to conspiracy to commit money laundering" and describes a situation in which "TD Bank faced systemic compliance failures, including inadequate internal controls, deficient transaction monitoring, and neglect of suspicious activity reporting, leading to extensive violations of BSA/AML regulations". The podcast underscores the importance of well-resourced and up-to-date compliance programs, as TD Bank's deficiencies highlight the consequences of prioritizing other objectives over regulatory obligations. As stated in the DOJ press release, Deputy Attorney General Lisa Monaco said, "Every bank compliance official in America should be reviewing today's charges as a case study of what not to do. And every bank CEO and board member should be doing the same. Because if the business case for compliance wasn't clear before - it should be now". Brought to you by GeoDataVision and M&M Consulting

    18min

  2. 04/12/2024

    Navigating the New Compliance Landscape: CRA and Section 1071

    Welcome to another insightful episode of the Compliance 911 Show! In this episode, hosts Dean Stockford and Len Suzio dive deep into the challenges and impacts of the simultaneous implementation of the new CRA 2023 rule and the Section 1071 rule set to unfold over the next few years. Our discussion focuses on how compliance officers can prepare for these significant changes, including understanding the phased rollout plan, identifying covered lenders, and the implications of reporting requirements under Section 1071. As litigation continues to pose potential delays, our hosts emphasize the importance of getting a head start on compliance efforts. Listen as they unpack the various complexities and crossovers between CRA and Section 1071, helping you to strategize your compliance approach effectively while highlighting the possible pitfalls and the significance of maintaining proper data collection systems.Brought to you by GeoDataVision and M&M Consulting

    17min

  3. 04/12/2024

    FDIC Advertising & Signage rule changes

    In this podcast, Dean Stockford and Len Suzio discuss the recent FDIC Advertising and Signage rule changes, which took effect on April 1, 2024, and aim to modernize compliance requirements to align with digital banking practices. Dean highlights the importance of these updates, which include modernized signage rules for branches, digital platforms, and ATMs, disclosures distinguishing insured deposits from non-deposit products, and mandatory written policies for compliance. The rule also addresses misrepresentations about FDIC insurance by IDIs and non-bank entities, clarifying disclosure requirements to prevent consumer confusion. With a mandatory compliance date of May 1, 2025, Dean urges institutions to act promptly to ensure compliance. Brought to you by GeoDataVision and M&M Consulting

    16min

  4. 14/11/2024

    Teaching about the New Community Reinvestment Act with Linda Ezuka

    In this episode of the Compliance 911 Show, hosts Dean Stockford and Len Suzio are joined by special guest Linda Ezuka for the second part of their series on the Community Reinvestment Act (CRA). Linda, the founder of CRA Today and the CRA Hub, shares her extensive expertise on CRA compliance, community development finance, and the new CRA rules introduced in 2023. The discussion delves into the complexities and challenges posed by the new CRA regulations, including the concerns expressed by bankers about adapting to these changes. Linda provides valuable insights into how financial institutions can prepare for the transition, balancing the legacy CRA rules with the new requirements. Linda also highlights the potential opportunities offered by the new CRA, such as partnerships with minority depository institutions and community development financial institutions. The conversation explores how these collaborations can enhance service to disadvantaged communities and improve financial literacy. Additionally, the episode touches on the introduction of calibrated benchmarks for assessing bank performance, and the importance of understanding community context when evaluating CRA activities. Join us for this informative session as we explore the evolving landscape of the Community Reinvestment Act and learn how banks and community groups can work together to better serve their communities. CRAtoday: cratoday.com CRAhub: cratoday.com/hub Linda: linda@cratoday.com   Brought to you by GeoDataVision and M&M Consulting

    20min

  5. 17/10/2024

    Mastering the Community Reinvestment Act with Linda Ezuka

    Welcome to the Compliance 911 Show, where hosts Dean Stockford and Len Suzio dive into the intricacies of the Community Reinvestment Act (CRA) with special guest Linda Ezuka. Linda, the founder of CRAtoday and the CRAhub, shares her extensive experience and insights on how to master CRA compliance, stay exam-ready, and leverage capital for community development. In this episode, Linda discusses the most common questions from bankers, the importance of performance context, and the challenges of identifying community development loans. She also emphasizes the need for CRA professionals to engage with their communities to truly understand and meet local credit needs. Join us for an enlightening conversation that will equip you with the knowledge to navigate the complexities of the CRA and drive impactful community development initiatives. CRAtoday: cratoday.com CRAhub: cratoday.com/hub   Brought to you by GeoDataVision and M&M Consulting

    19min

  6. 05/09/2024

    Red Warning on Redlining: Looking Ahead

    In Episode 81 of the podcast series "Red Warning on Redlining," Len and Dean continue their discussion with fair lending expert Lori Sommerfield, a partner at Troutman Pepper. They explore the future of redlining enforcement by DOJ and federal agencies through 2024 and beyond. Lori explains the Combatting Redlining Initiative's impact to date and coordination among the federal agencies, as well as advises financial institutions on best practices to monitor and manage redlining risks. Implications of the U.S. Supreme Court's recent Loper Bright decision for redlining cases is also discussed. The episode emphasizes preparation and fair lending compliance for financial institutions. Brought to you by GeoDataVision and M&M Consulting

    19min

  7. 14/08/2024

    Red Warning on Redlining: Looking Back

    In Episode 80 of the podcast series on regulatory compliance, Len and Dean discuss the topic of redlining with Lori Sommerfield, a partner at Troutman Pepper, in a new two-part series “Red Warning on Redlining.” Lori, a seasoned fair lending attorney, explains the traditional and modern definitions of redlining, emphasizing how regulators now primarily use Home Mortgage Disclosure Act (HMDA) data to identify potential redlining activity without other evidence to support such claims. She also discusses the DOJ's "Combatting Redlining Initiative," which is a “whole of government” approach leveraging federal agencies, U.S. attorneys, and state attorneys general to eradicate redlining practices. The episode highlights the challenges financial institutions face under aggressive enforcement and the importance of monitoring for redlining risks. Brought to you by GeoDataVision and M&M Consulting

    17min

  8. 31/07/2024

    Redlining Isn’t What it Used To Be

    In a recent podcast, Len and Dean discuss the June 10 article "Manufacturing Fair Lending" from National Mortgage Professional, which delves into the "Modern Theory of Redlining" introduced by  bank regulators after AG Merrick Garland's 2021 Combatting Redlining Initiative was announced. The article includes insights from notable figures like Paul Hancock former chief of the Housing and Civil Enforcement at the DOJ  and Brian Montgomery, former deputy secretary of HUD highlighting concerns about the government's push for racial balance in loan originations. Len also mentions his follow-up article, "Redlining Isn’t What it Used to Be," which criticizes regulators' use of statistics to allege redlining. They discuss the complexity of redlining enforcement, the legal battles, and the importance of banks proactively assessing their risk of redlining accusations. Len advises banks to conduct internal risk assessments and seek expert legal and consulting help if unfairly accused, while emphasizing the need for industry unity in opposing regulatory overreach. Brought to you by GeoDataVision and M&M Consulting

    12min
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Classificações e avaliações

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Sobre

Welcome to Compliance 911, a no-nonsense, cut to the point, style show for today’s busy bank and credit union compliance professionals. With this series of bi-weekly shows our goal is to boil down some of today’s hottest regulatory compliance topics in quick and easy to digest 5-10 minute episodes so you can get the information you want and get on with your day. We’ll be discussing topics like CRA, HMDA, Fair Lending, Anti Money Laundering, and so much more. Don’t forget to subscribe and tell a friend about us! Follow M&M Consulting and GeoDataVision us on LinkedIn to get the latest updates.

Informações

  • Criado por
    Dean Stockford - Len Suzio
  • Anos de atividade
    2021 - 2025
  • Episódios
    86
  • Classificação
    Livre
  • Copyright
    © Copyright 2021 All rights reserved.
  • Site do podcast
    The Compliance 911 Show

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