Risk & Compliance Roundup: Regulatory Findings, 1071 Update
- August 30, 2024
- Quantivate
Welcome to your weekly roundup of risk and compliance management resources, brought to you by Ncontracts.
This edition covers topics including:
- The consequences of repeat regulatory findings
- The latest on Section 1071
- Exam management best practices & FAQs
New from the Nsight Blog
The High Costs of Repeat Findings — and How to Avoid Them
The cost of ignoring regulatory findings can be steep. This article examines recent cases where financial institutions faced penalties for failing to address previously identified issues in areas like BSA/AML compliance, mortgage lending, and enterprise risk management. Learn from these examples and explore how a comprehensive findings management program can help your institution avoid the consequences of repeat violations.
Related Reading | 2024 Compliance Exam Findings: The Impact of Poor Risk Management →
1071 Update – August 2024
Our latest update on the status of Section 1071 covers new compliance deadlines, recent court rulings, and what small business lenders should be doing now to prepare. Learn about the CFPB’s beta platform, ongoing legal challenges, and how Ncontracts is gearing up to help financial institutions navigate this significant regulatory change.
Top Picks from the Archive: Findings & Exam Management
For more on findings management, explore some of our most popular articles covering best practices and frequently asked questions.
6 Findings Management Practices Examiners are Looking for at Financial Institutions
Want to impress examiners with your institution’s approach to findings management? This article outlines six key practices regulators are looking for, from timely corrective action and root cause analysis to follow-up and monitoring. Discover how to build a proactive findings management program that not only meets regulatory expectations but also enhances your institution’s overall risk management and compliance efforts.
Ask the Examiner: Your Exam Questions Answered by a Former OCC Examiner
Get insider insights from two former OCC examiners in this comprehensive Q&A on common exam challenges and misconceptions. From handling missed deadlines to navigating difficult conversations, learn practical tips for building strong relationships with examiners and improving your institution’s exam readiness.