Are You Ready?

The CFPB has issued a Dodd-Frank Mortgage Rules Readiness Guide to help institutions of all sizes with recent and upcoming rule changes.  The Guide is intended to assist you in your compliance efforts, as well as draw attention to some potential areas of exam focus.

The Guide contains a brief summary of each of the Rules; a Readiness Questionnaire; some general Frequently Asked Questions; and links to other CFPB tools.

The Readiness Questionnaire is to be used as a self-assessment to help you analyze how the rules will impact your institution and determine to what extent your preparation is in line with the CFPB’s recommendations.  It may also be helpful in exam preparation.  If you have an upcoming exam, you will likely be asked how you are preparing for these changes.

Not only should the Guide help give you an idea of where you’re at, it can also give you a glimpse of the CFPB’s expectations.  It’s worth a read.

Published
2013/07/11
Diane Dean
Diane Dean

Diane Dean

Diane joined Banker’s Compliance Consulting with over 10 years of compliance experience and over 15 years of experience within the financial industry. Diane is a Certified Regulatory Compliance Manager (CRCM) and has a Bachelor’s Degree in Sociology with a concentration in Criminal Justice. She is a graduate of the Schools of Banking Compliance School and has participated in various other training opportunities throughout her career. Diane understands firsthand the struggles banks face in building and maintaining successful compliance programs. Her experience and common sense approach to consumer compliance is a great asset to our clients. Diane and her husband have two kids who keep them busy. She enjoys running and other sports and is a big Bugs Bunny fan! She’s a bit crazy in that she does enjoy reading some of these regulations and she’s a “crazy cat lady!” Her cat tales are hilarious!

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