2022 Lending Compliance Triage Conference
 9:30am - 6:00pm Eastern Time
  8:30am - 5:00pm Central Time
     7:30am - 4:00pm Mountain Time
   6:30am - 3:00pm Pacific Time

Conference begins each day at the specified time which is dependent on which time-zone you reside in.
Session times below are for Central Time. Adjust them to your time zone.
Day 1
8:30 - 9:30 Welcome and The Compliance Landscape
9:30 - 10:30Common Lending Violations
10:30 - 10:45 BREAK
10:45 - 11:45 Reimbursements for Reg Z Violations
11:45 - 12:30 LUNCH
12:30 - 1:30 Fair Lending Update
1:30 - 1:40 BREAK
1:40 - 2:10 ARM Updates and Rate Changes
2:10 - 3:30 Sect. 1071 - Small Business LAR
3:30 - 3:45 BREAK
3:45 - 4:00 Crypto, Look Before You Leap
4:00 - 5:00 Panel Discussion - Q and A
Adjourn - See you tomorrow!
Day 2
8:30 - 9:30UDAAP Update
9:30 - 10:00 What the Flood FAQs Mean (Pt1)
10:30 - 10:45 BREAK
10:45 - 11:15 What the Flood FAQs Mean (Pt2)
11:15 - 11:45 FCRA Update
11:45 - 12:30 LUNCH
12:30 - 1:30 Qualified Mortgage Changes and Updates
1:30 - 1:40 BREAK
1:40 - 2:30 Lending and BSA Interaction
  2:30 - 3:30 CRA, Interagency Makeover
3:30 - 3:45 BREAK
3:45- 5:00 Panel Discussion - Q and A
Adjourn - Thank you for attending!

Welcome and the Compliance Landscape
In this first hour we'll address a few housekeeping items so you know a little about the agenda and can both plan who listens to which sessions and how to ensure you get answers to your questions. Then we'll set a foundation of where we are in the world of regulatory compliance.
  • What are the examining agencies up to?
  • Is each agency acting alone, or is there a consolidated front?
  • What are the hot topics banks need to plan the close out of 2022 and 2023?
Common Lending Violations
Exams can be teaching moments. But the best teaching moments come from exams at other banks. When you know what examiners are finding from various agencies at other banks, you have a good idea of items they will focus in on first when your bank's next exam comes. Forewarned is forearmed.
  • Should TRID reviews be my priority, flood or HMDA?
  • What are the top violations being seen across compliance?
  • What small things have bankers been caught on?
Reimbursements for Reg Z Violations
Mistakes happen. Even strong compliance programs have situations that go wrong, and you may find yourself giving restitution to a borrower for an APR or Finance Charge inaccuracy. It is imperative to get it right - after all, APR and Finance Charge accuracy is the central theme of the Truth In Lending Act, which officially made it a law for creditors to honor what they disclose! Indeed, it is no understatement that APR and FC understatements are to be taken seriously... civil liability is like that. This one-hour session will help you figure out why, when, and how to determine the right amount of reimbursement, by understanding the Agency's Statement of Policy on Restitution and the FFIEC APR calculator. Walking step-by-step through a case study, you'll come away with a better understanding of a subject that need not be intimidating.
  • Why do I have to reimburse? It was an unintentional error - can't I just re-disclose?
  • Is the FFIEC APR calculator the same as the old APRWin? How do I use it?
  • Do I have to cut a reimburse check for the borrower, or can I just credit the loan?

Fair Lending Update
The Biden Administration has made it abundantly clear that Fair Lending issues have a high priority. Key issues include gender identity and sexual orientation, redlining, Limited English Proficiency, the foreclosure surge, discrimination in appraisals, targeted marketing, and the arrival of the Section 1071 rules.
  • What is the status of the 2021 Interpretative Rule regarding gender identity and sexual orientation?
  • What lessons are there to learn based on recent redlining cases?
  • How should we respond to issues related to limited English proficiency?
  • Recent reports show evidence of discrimination in appraisals. Isn't that the appraiser's
  • problem? What steps, if any should we take?
ARM Updates and Rate Changes
With the fluctuations in the current interest rate environment and the possibility that the Federal Reserve may continue to raise target interest rates, questions have been asked as to the potential impact these events may have as it relates to variable rate transactions subject to TRID disclosures. This presentation provides a brief recap of potential implications.
  • How do rate changes impact:
    • The Loan Estimate (LE)?
    • The Closing Disclosure (CD)?
  • Are the LE and CD affected by rate locks?
Sect. 1071 - Small Business LAR
This monstrous storm is expected in March 2023. The final revisions will require most financial institutions to build a data collection and reporting system for small business loans. While the details of the final rule are unknown, a very clear picture of actions needed now has emerged.
  • Which financial institutions are impacted by the new rule?
  • Are we required to develop applications for business and farm loans?
  • Must we develop or acquire a system to handle the data collection and reporting?
  • What should we explain to our employees and customers at this time?
Crypto - Look Before You Leap
Your customers either are involved with or are considering getting involved with cryptocurrency. Most banks are sitting on the sidelines deciding whether to get in the game or not. Before deciding how to proceed you need to understand crypto, how banks can get involved and what steps to take if you get involved.
  • What is crypto?
  • How does it work?
  • What crypto services are banks offering?
  • Can a bank accept crypto deposits or crypto loan payments?
  • What regulatory restrictions exist?
UDAAP Updates
As we developed this agenda, UDAAP has a lot of teeth and it's being used in many enforcement actions. The CFPB has added UDAAP violations to fair lending. Like it or not, it's there for now. Banking groups and others are contesting the CFPB's authority to do this. And remember, the Fair Debt Collections Practices Act defines things using UDAAP terms. Add to that the regular repossession and fee issues that are "UDAAP-able" and we have a serious regulatory requirement to address.
  • The CFPB has UDAAP, we're not CFPB, is it still a concern?
  • What is the status of the UDAAP rules being far-reaching, not as intended?
  • What can I learn from recent unfair and deceptive enforcement actions?

What the Flood FAQs Mean - Pt. 1 & Pt. 2
We've all been waiting for the Agencies' updated flood insurance FAQs and they are finally here! The last time the flood insurance regulations were updated was back in 2019 with the implementation of the Biggert-Waters Act related to private flood insurance. Prior to that, the last time we received any substantive FAQs was back in 2009 with an additional handful of proposed FAQs in 2011 that never made it into final versions. Did they make our lives easier or do some answers now cause new headaches that we didn't expect? In this series, we will review the new FAQs that give us clarification and guidance on major amendments to the Federal Flood insurance laws including the Homeowner Flood Insurance Affordability Act and the Biggert-Waters Flood Insurance Reform Act.
  • Do these new FAQs carry the same weight and force of the flood regulations as previous versions have?
  • Which FAQs are considered "guidance" and which ones are considered "regulatory clarification"?
  • What proposed FAQs didn't make the cut to the final version?
  • What new areas and what clarification from previous areas do we have?

FCRA Update
The CFPB has issued some recent updates to the FCRA regarding permissible purpose for accessing consumer credit reports, an area that has not been addressed in many years. There has also been additional guidance related to the impact on content related to the awful personal effects from human trafficking that the Debt Bondage Repair Act addresses. We will discuss what your policy and procedures should address.
  • What is the liability for pulling a credit report when entering incorrect consumer information?
  • Could there be criminal liability for inadvertent errors?
  • What do consumers need to do if they have been victims and what do bankers need to be aware of?

Qualified Mortgage Changes and Updates
After plenty of proposals, delays and extensions, the revised General QM rule will be mandatory on October 1, 2022. Are you ready? Do you fully understand the difference between the "old / legacy" General QM and the "new / revised" General QM? What about a "Seasoned QM" - how do you get one of those?! While some things have certainly changed (ahem, 43% DTI cap, I'm looking at you), plenty of things remain the same - like the types of legal protection (well, mostly), loan feature limitations and restrictions, and some of the underwriting requirements. Plus, the Small Creditor QM is still alive and well, along with the EGRRCPA QM, the Balloon QM, and the good old baseline ATR "non-QM". This session will help you keep it all straight!
  • Can we just keep making 43% max DTI mortgages and get QM safe harbor?
  • With rates going up, we are seeing increasing demand for ARM loans. How do they fit into the new QM puzzle?
  • My bank has grown and is losing small creditor status - what options are still available for QMs?

Lending & BSA Interaction
Lenders often think of BSA/AML rules as concerns for the folks on the "operations side" of the bank, and it's true that much of the focus of BSA/AML is on the movement of cash and other forms of value, which are traditionally operational concerns. This session focuses on what the lending side of the bank needs to know about BSA/AML rules in the current environment. We'll look at FinCEN's well-established use of Geographic Targeting Orders to focus on non-financed purchases of real estate in key U.S. metro markets by shell entities that often hide the identity of the true purchasers. We will also discuss ongoing changes to how FinCEN will address Beneficial Ownership challenges, and what those changes may mean for lenders. And we'll look at the CIP requirements that apply regardless of whether a customer is a depositor, a borrower, or has some other account relationship with a bank.
  • When will lenders be able to stop collecting Beneficial Ownership certifications now that entities have to register their ownership with FinCEN?
  • Do real estate brokers have to have BSA/AML compliance programs?
  • What are some borrower actions that lenders should consider "red flags" of possible suspicious activity?

CRA, Interagency Makeover
Long overdue revisions to CRA are making their way through the system. Proposed regulations were published in May. Final regulations are expected next year. This session provides an overview of the proposal and outlines certain areas of concern.
  • When are final rules expected?
  • What are the new institution size categories?
  • How do examination work for small, intermediate, and large institutions?
  • Which institutions are required to collect and report CRA data?
  • What CRA data is collected, maintained and reported?
  • What are the expectations for ratings under the new rules?

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