Our Blog
Elements of a Complaints Management Program
You’re a new Compliance Officer and you run the Consumer Regulatory Compliance department of a small-to-midsized financial institution in the U.S. You’ve recently inherited some findings about the institution’s Complaints Management Program. This came about because...
Regulatory Environment for Fair Lending
At M & M Consulting’s most recent compliance school, our President/CEO spoke at length about the regulatory environment for Fair Lending and specifically redlining risk. The announcement from Department of Justice is further evidence of stepped up enforcement....
FDIC Chairman Addresses Climate Change
Great article by FDIC Acting Chairman Martin Gruenberg. He addresses climate related risk factors for community banks but cautions folks they are early in the process and the issue continues to evolve. A vast majority of information from regulatory bodies to date...
2022 CRA NPR: A 5‐Alarm Fire in the Making for Banks
Dear Banker, Readers and reviewers of the 2022 joint CRA NPR issued by the bank regulators on May 5 may be overwhelmed by the long (679 pages) and complex proposed rule-making document. Just trying to grasp the proposal is a daunting task. For sure, the NPR does...
Prohibited Transaction Exemption 2020–02 Improving Investment Advice for Workers & Retirees
A client recently approached M&M inquiring how M&M will review for compliance with PTE 2020-02 within our wealth management audit program. The below outlines some significant provisions of PTE 2020-02 and how M&M will address this topic in upcoming...
Climate Risk
Overview Climate change poses serious and systemic risks to the U.S. economy and financial system. Financial institutions play a critical role in our economy. They are the front line in managing all financial risks, including those posed by climate change. With the...