At the Compliance Cohort, we understand that keeping up with regulatory changes is one of the most challenging aspects for you as a compliance professional. On one hand, you have hundreds of daily tasks that must get done and you really don’t even have time to do them all. On the other hand, changing rules are somewhat difficult to keep up on and can take considerable amounts of time to both comprehend and then understand how a rule applies to your specific organization.

To assist you and your financial institution with “regulatory change management,” we have created our Quarterly Compliance Update program. The way this program works is that each quarter, we release a new training class that covers all of the regulatory activity from the prior quarter of the year. For example, our 2Q 2019 Quarterly Compliance Update covers all of the regulatory changes that took place during the months of April, May, and June - and boy was there quite a bit of activity. (The full curriculum for the program can be viewed at the link below.)

Using our “virtual classroom approach,” we deliver each Quarterly Compliance Update class with you in mind, answering these two questions: what has happened and what do you need to know? Our goal is to save you considerable amounts of time sifting through regulatory updates and provide you with the need-to-know information so that you can take quick and efficient action. We want to make your job easier, and we try to focus everything in this program around this focus. We’ve been told that our program not only helps you understand new rules, but also helps you understand what needs to be done - helping you to form a game-plan to tackle regulatory change.

If you think that our Quarterly Compliance Update might be beneficial for you, be sure to check out our new 2Q 2019 class as it available at a pretty nice discounted price now through Thursday August 1, 2019.

https://www.compliancecohort.com/video-webinar-2q2019-quarterly-compliance-update

On July 18, 2019, the NCUA released a rule that amends their policy requiring appraisals for certain transactions, including increasing the threshold below which appraisals are not required for commercial real estate transactions from $250,000 to $1,000,000. In addition to this, the rule does three other things: (1) it restructurs the rule to enhance clarity; (2) it exempts from the rule certain federally related transactions involving real estate in a rural area; and (3) is makes conforming amendments to the definitions section. The rule is not yet final, but will be so 90 days after publication in the federal register.

On 7/2/19, the FDIC announced updates to their Consumer Compliance Examination Manual (CEM) which examiners utilize when conducting compliance examinations. The manual contains exam procedures for consumer compliance regulations, the Community Reinvestment Act rules, and other supervisory requirements and helps to provide consistency among examiners when conducting examinations.

On June 28, 2019, the CFPB updated their small entity compliance guide which summarizes the Payday Lending Rule’s payment-related requirements. On their website, the CFPB explains that the guide was updated to incorporate the changes that the Delay Final Rule made to the 2017 Payday Lending Rule.