Quantivate Blog

While most fair lending requirements are geared toward consumer loans, a financial institution’s commercial products and services may also be subject to certain federal and even state consumer protection laws and regulations. This guide offers a high-level review and summary of consumer compliance requirements related to fair lending, credit reporting, and other regulatory topics, along with how they can pertain to commercial lending. This information is not intended to be comprehensive or constitute legal…

As news of the collapse of Silicon Valley Bank (SVB) and the subsequent shutdown of Signature Bank of New York circulated over the past week—marking two of the three biggest failures in U.S. banking history—the banks’ risk management practices have come under the microscope. In SVB’s case, missteps in managing concentration risk, interest rate risk, liquidity risk, and stress testing resulted in a “risk management nightmare” for the bank. “Compounding SVB’s problems was an apparent…

March 5–11 is National Consumer Protection Week. Learn about how your organization can play its part in fighting fraud and cybercrime through effective governance, risk, and compliance (GRC) management. Cybersecurity continues to be a top concern in the financial services industry, as organizations address issues such as consumer protection and fraud prevention, data privacy, and cybercrime. In the FBI’s most recent Internet Crime Report, cybercrime accounted for nearly $7 billion in…

Risk management is a central concern for the financial services industry, spanning compliance, environmental, third-party, and anti-money laundering risks, among other categories. An effective risk management program should simultaneously support agility and resilience. Agility allows organizations to proactively identify and predict potential risks, while resilience strengthens the ability to efficiently respond to threats or disruptions. However, gaps in risk management strategies and processes often prevent teams from building a framework that supports a mature…

The February Regulatory Compliance Briefing includes an upcoming final ruling from the Federal Reserve Board, plus other advisories and pending actions and alerts to be aware of this month. (more…)