Fair Lending and Servicing Practices Face Deeper Scrutiny Under New Administration | Monthly Compliance Insights Newsletter

Compliance-Insights-January-2021
Fair Lending and Servicing Practices Face Deeper Scrutiny Under New Administration | Monthly Compliance Insights Newsletter

"“Our regulatory environment in 2021 wasted no time in prioritising a renewed focus on fair lending and consumer protection from the selection of presumed new CFPB Director Rohit Chopra, to extending the protections of the Equal Credit Opportunity Act (ECOA) to cover LGBTQ+ Americans, all financial services institutions, FinTechs included, should scrutinise current practices to determine and mitigate their fair lending risk profile.”

- Kat Sanchez, Director at Protiviti

Welcome to Protiviti's Compliance Insights Newsletter, your monthly compliance news roundup that highlights changes in consumer compliance, anti-money laundering issues, and other regulatory updates.


ADDITIONAL INSIGHTS


GameStop Saga Exposes Trading Flaws, Reveals Huge Opportunity for a “Disruptor”

The January 2021 trading frenzy surrounding GameStop and other meme stocks was driven by the collective mob mentality of people on a social media channel – not by Wall Street-aligned firms or a substantive news event.

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Trends in Credit Reserves Reflect Economic Optimism

Many financial institutions reacted quickly in March 2020 to bolster credit loss reserves and incorporate anticipated near-term and longer-term impacts of the COVID-19 pandemic on loss reserve estimates.

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On Risky Women “Radio”: Robots, Resilience and Risk Management

Passionate about connecting and inspiring women to be bold, to extend and take risks, Pearman is the new host of the Risky Women Transformation podcast. The podcast is a series of interviews that will highlight innovation in governance, risk and compliance through conversations with female leaders in key transformation and risk roles.

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Protiviti Advisory Board on Pandemic Lessons Learned and the Path to a “Better Normal” – A Virtual Event Recap

Despite all that we have endured, the Protiviti Advisory Board members had a positive message for the future: We’ve survived an unimaginable year of stress but we are emerging with a tremendous number of learnings about what we can do as leaders for our companies, our employees and the larger communities.

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COMING SOON: Future of Operational Risk Podcast

In this episode of Protiviti’s Powerful Insight’s “Future of Risk and Compliance” podcast series, Protiviti Risk and Compliance Director Bygie Dixon interviews Patrick Dillon, Executive Vice President and Head of Independent Testing and Validation at Wells Fargo. Bygie and Patrick share insights on successfully applying emerging technologies and leveraging an innovative mindset to reduce risks and strengthen controls.

 

Click here to access all series

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