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Proper Use of Compliance Management Systems to Protect Against Consumer Risk


A robust Compliance Management System (CMS) is necessary to protect your institution against regulatory, reputational and limitation risks. The CFPB, FDIC, FED and OCC continue their focus on consumer risk, and in turn, are looking at how well your company's CMS manages that risk.

With no legally defined "correct" approach to drafting and implementing a proper CMS, there are plenty of challenges for banks, non-bank lenders and some other consumer financial services organizations. Please join us as we discuss the proper elements of a CMS that can withstand regulatory scrutiny, including (i) board management and oversight; (ii) policies and procedures; (iii) training; (iv) audits; (v) use of consumer complaints; (vi) remediation; and (vii) vendor oversight.

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