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BaaS Banks Are in Time Out, and Here’s Why It’s a Big Deal

Gonzobanker

Cross River Bank recently found itself in hot water with the FDIC when the agency declared that the bank engaged in unsafe or unsound banking practices in relation to its compliance with fair lending laws and regulations, specifically the Equal Credit Opportunity Act and the Truth-in-Lending Act. In effect, Cross River is in time out.

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Preparing for Section 1071

Abrigo

In 2010, Congress enacted the Dodd-Frank Act “ [t]o promote the financial stability of the United States by improving accountability and transparency in the financial system.” It isn’t just a compliance program problem or a data management problem. Credit Risk Management. Lending & Credit Risk.

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