Financial Institution Compliance Services

Through our professionals and our international networks, Mauldin & Jenkins has over a century of experience serving a wide range of industries.  Using our deep industry-specific knowledge, we help clients understand and navigate rules, regulations, and stakeholder expectations to provide manageable solutions for complex problems.

While many institutions are similar, no two institutions are the same. Our experienced team of compliance professionals can customize our services to fit your institution’s needs.

services we can provide include, but are not limited to, the following:

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consumer lending compliance

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Consumer deposit compliance

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Other Compliance Areas

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Bank Secrecy Act (BSA), Anti-Money Laundering and OFAC

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Fair Lending

Consumer Lending Compliance

Consumer lending compliance reviews cover disclosures and terms within the consumer compliance regulations. Subsequent disclosures and servicing of consumer loans are also included. Monitoring and training will be analyzed as part of this review.

The Consumer Loan Compliance Review engagements generally cover the following:

• Truth in Lending Act (Regulation Z)

• Real Estate Settlement Procedures Act (Regulation X)

• Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act)

• Flood Disaster Protection Act

• Homeowners Protection Act

• Equal Credit Opportunity Act (Regulation B)

• Fair Credit Reporting Act (Regulation V)

• Community Reinvestment Act (Regulation BB)

• Home Mortgage Disclosure Act (Regulation C)

• Fair Housing Act

• Credit for the Purpose of Purchasing or Carrying Margin Stocks (Regulation U)

• Fair and Accurate Credit Transactions Act (FACT Act)

• Loans to Insiders (Regulation O)

• Servicemembers Civil Relief Act

Consumer Deposit Compliance

This review will cover the primary consumer deposit compliance regulations. We will test disclosures, periodic statements, advertising, website, and specific products and services. Written policies and procedures are assessed for adequacy and compliance with the regulations.

The Consumer Deposit Compliance Review engagements generally cover the following:

• Regulation D

• Electronic Funds Transfer Act (Regulation E)

• Expedited Funds Availability Act (Regulation CC)

• Truth in Savings Act (Regulation DD)

Other Compliance Areas

General Regulations related to financial institutions' customers are covered in this area. This review will focus on evaluating the financial institution's policies, procedures, and practices. Testing is performed where applicable on specific transactions.

Some compliance regulations are not specific to lending or deposit areas. Generally, these regulations are added to our Consumer Deposit Compliance Services.

• Privacy of Consumer Information (Regulation P)

• Prohibition of Funding Unlawful Internet Gambling (Regulation GG)

• Unfair, Deceptive or Abusive Acts or Practices

• Right to Financial Privacy Act

• Fair Debt Collection Practices Act

• Advertising

• Website Compliance

• Red Flags (Identity Theft)

• Military Lending Act (MLA)

• E-SIGN Act

• CAN SPAM Act

Bank Secrecy Act (BSA), Anti-Money Laundering and OFAC

Whether your institution’s BSA/AML activities are considered low or high risk, with clients from rural communities throughout the southeast, our professionals have the knowledge to and expertise to meet your needs.

Our program for compliance with the BSA, OFAC, and related regulations is based on procedures published in the FFIEC Bank Secrecy Act/Anti-Money Laundering Examination Manual.

The program contains core procedures that address

  • the content of approved policies and procedures, risk assessments, recordkeeping, employee and supervisory committee training, customer identification, suspicious activity monitoring and reporting, customer due diligence, and internal controls.
  • the qualifications, training, and authority of the BSA Officer and level of staffing devoted to BSA/AML compliance.
  • management responses to any significant findings from previous audits or examinations.
  • Expanded coverage for Marijuana-Related Businesses (MRB) and other higher-risk persons and entities, products and services, and geographic areas. The scope of any expanded procedures will be determined by review of the institution’s risk assessments and our own observations.
  • procedures for reviewing the institution’s compliance with applicable requirements of OFAC, including policies and procedures, risk assessments, record keeping, reporting of rejected transactions, employee training, and procedures for resolving potential matches with lists published by OFAC
  • procedures for managing blocked funds will are evaluated.
  • Maintenance procedures for current OFAC lists and awareness of current OFAC sanction programs is also reviewed.

Fair Lending

From time to time, institutions need a detailed review of their lending programs to ensure they are compliant with the fair lending practices.

Our Fair Lending procedures include

  • A review of a sample of accepted and denied applications requested from management. One portion of each sample is the Control Group and another portion is the Prohibited Basis Group. Sample sizes are determined by applying guidelines for sample sizes found in interagency procedures from the federal regulators.
  • Transactions in the sample are tested for compliance with applicable provisions of the Equal Credit Opportunity Act (Regulation B, 12 CFR Part 1002).
  • M&J professionals determine whether any marginal transactions exist in the sample and develop profiles of the marginal applicants, then compare the prohibited basis group to similarly qualified control group applicants to determine whether a disparity exists regarding either the credit decision or the quality of assistance provided.
  • Lending policies and procedures are obtained and reviewed to determine whether any evidence of illegal discrimination may exist. This review includes pricing policies and the level of discretion that may be exercised by lenders over terms and conditions.
  • We will inquire compensation for lenders, including any compensation that is based on loan production or pricing. If there is a relationship with a subprime mortgage lender or finance company, we will determine how and when consumers are referred to such lenders.
  • We will request the records of loan exceptions or overrides and how the exceptions or overrides are monitored and reported to the Board of Directors or its committee. We will also inquire as to whether any recent fair lending-related deficiencies have been identified either by regulatory authorities or independent reviewers and how any deficiencies were addressed. If there have been any complaints from consumers regarding discrimination, we will request records on how the complaints were resolved, along with the related loan and application files. We will request training records for applicable employees with lending responsibilities and training for the Board of Directors. We will also request the Bank’s written compliance policies and procedures for applicable regulations. Additionally, we will request marketing materials regarding loan products, including the Bank’s marketing program.