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5 Hot Compliance Topics to Explore at the Upcoming Compliance Conference

author Andy Barksdale
2 min read
Jun 9, 2015

This weekend, several TRUPOINT Partners’ team members are headed to Washington DC for the ABA’s Regulatory Compliance Conference. From UDAAP to TRID, here are some of the hot topics we're looking forward to discussing. 

The ABA's annual Regulatory Compliance Conference kicks off on June 14 in Washington DC. This is one of the best national compliance conferences, and we're excited to be attending again this year.

If you'll be there, please let us know and visit us at Booth 409 for fun games and giveaways!

In anticipation of this great conference, here are five of the hot topics we look forward to exploring in our nation’s capital:

  1. UDAAP: UDAAP continues to surface in the regulatory world on many fronts. The issue is so massive that it generally lacks clarity. The best way to proactively manage UDAAP compliance is to start with a risk assessment. Here's a quick refresher: Inherent Risk - Controls = Residual Risk. We look forward to comparing notes on best practices.
    • Here is a sample UDAAP Risk Matrix from the ABA that may help you identify the areas of inherent risk and evaluate controls.
    • As you may know, we offer a UDAAP-specific version of our online risk assessment tool. Get a free info kit and/or demo.  
  2. HMDA Plus: The estimated dates for the new HMDA rule release is late summer (think August). The new data set will bring both opportunity and concern for HMDA filers. Similar to TRID (TILA/RESPA Integrated Disclosures), HMDA Plus will require new strategies and execution plans.
  3. Fair Lending: The Equal Credit Opportunity Act makes it unlawful for “any creditor to discriminate against any applicant with respect to any aspect of a credit transaction” on the basis of a prohibited basis factor (e.g., race, gender, ethnicity, etc.). “Any aspect” covers the extension of credit from cradle to grave (e.g., marketing, underwriting, servicing, loss mitigation). Financial institutions should be reviewing and monitoring fair lending risk both qualitatively and quantitatively.
  4. BSA / AML Compliance: Regulators continue to focus on BSA/AML, as evidenced by recent enforcement actions. The ABA has identified BSA/AML requirements as the most costly regulatory burden. There are a few sessions related to BSA/AML that will explore the issues currently attracting the most attention.
  5. Complaint Management: The regulators consider complaints as the “canary in the coal mine” for financial institutions, providing advance warning of danger or areas of concern. Best practices continue to evolve and include policies, tracking and reporting. Some industry pundits suggest that financial institutions should be actively managing complaints in order to effectively manage the client concern before they go public.
    • The CFPB gives you insight into complaints through their database here 

In addition the five topics above, there will be other sessions focusing on Compliance Management Programs, Enterprise Risk Management, Third-Party Management, and Data Analytics (to name a few).

TRUPOINT Viewpoint: One great aspect of the ABA’s Regulatory Compliance Conference is that it allows us to have interactive discussions with the industry’s best practioners.  In a regulatory compliance world where there is little black and white, the conference allows us to openly debate approaches and seek operating efficiency.  This conference always allows our team to take the evolving best practices and incorporate the appropriate elements into our day-to-day consulting.  

Most importantly, the conference will allow us to catch up with old friends and meet new ones.  If you are attending, please come by Booth 409 and say hello to me, Justin Smith and Kimberly Boatwright. 

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