Welcome to the Compliance Cohort. We are a group of compliance professionals working to make compliance easier. Our goal is to take complex compliance concepts and put them in simple terms that apply to the real world. We are glad you have found us and look forward to collaborating in the future.
If you haven't done so already, make sure you sign up for our free membership where you get access to many member-only videos, articles, and other resources.
In this Compliance Clip (video), Adam provides an overview of Reconsideration of Value (ROV) in the context of residential real estate transactions. Drawing on recently released interagency guidance from key financial regulatory bodies, Adam explains the significance of an ROV and the importance of addressing appraisal bias and fair lending concerns.
Our 2024 FDIC Official Signs & Advertising Final Rule is currently on sale in our store. Our FDIC Advertising Rules class is designed to equip financial professionals with an understanding of the final rule of the new FDIC advertising and how it will affect their banks. The program includes an introduction and background of the FDIC’s official signs and advertising of membership rules, a review of Subpart A of the FDIC final rule in detail, and the elements of Subpart B that changed in the final rule. This new FDIC rule is going to be extremely important for banks to pay attention to as the rule saw several significant updates for current technology and electronic delivery channels. To learn more and register for our 2024 FDIC Official Signs & Advertising Final Rule, go to www.compliancecohort.com/2024-fdic-final-rule.
On February 12, 2025, the NPR reported that dozens of probationary employees at the CFPB had their jobs terminated. CFPB's union has identified approximately 73 "bargaining-unit" employees in their probationary period who were terminated, and believes non-union employees were also fired.
On February 5, 2025, the FDIC released 175 documents related to its supervision of banks that engaged in, or sought to engage in, crypto-related activities. FDIC Acting Chairman Travis Hill said that the release of the documents reflects the Agency’s commitment to enhance transparency.
On February 7, 2025, FDIC Acting Chairman Travis Hill wrote to FinCEN Ddirecto Andrea Gacki expressing his support for updating the Customer Identification Program (CIP) requirements to better align with modern financial services practices. Hill thanked FinCEN and the Department of the Treasury for their collaborative efforts on the issue.
On January 30, 2025, the CFPB released its annual list of consumer reporting companies which identifies specialty reporting companies that collect and sell access to people’s data. The list helps consumers request credit reporting data, dispute inaccuracies, block access through security freezes, and understand the types of personal financial information collected for reports.
On January 24, 2025, the CFPB published a report about financial outcomes for cash-out refinance mortgage borrowers. Home equity is a key financial asset for families, allowing homeowners to use a cash-out refinance to access funds for debt repayment or home repairs, but this can also elevate the risk of foreclosure.
The enrollment period for our three premium membership options is happening right now and this includes our Premium Pro option. Premium Pro is our "all access" plan where members have access to every training program in our store, as well as every new training program we release throughout the year. In other words, it includes all of our training programs for one bundled price. Just like our Premium Silver and Premium Gold memberships, there is a limited enrollment period to sign up, so don't wait too long to decide if Premium Pro is a fit for you. To sign up for our Premium Pro membership or to learn more about the three membership options, go to www.compliancecohort.com/premim-membership.
In this Compliance Clip, Adam discusses the importance of integrating FinCEN's national priorities into financial institutions' BSA/AML/CFT risk assessments, highlighting recent proposals from FinCEN and regulatory agencies aimed at updating compliance requirements. Adam provides ways on how financial institutions can proactively incorporate these priorities into their risk assessments. A transcript of this video is now available.
Our UDAAP Bootcamp is currently on sale in our store. Our UDAAP Bootcamp program provides you with foundational training about Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) as well as helps you know what to look for in your organization. This class covers two main areas. The program starts with a history and overview of UDAAP guidance while it concludes by covering a good number of known UDAAP violations - which attendees can essentially use as a checklist to make sure their organizations are free from many known UDAAP issues that have been cited as violations in other organizations. To register for our UDAAP Bootcamp program, go to www.compliancecohort.com/udaap-bootcamp.
