Regulatory Compliance Services

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Regulatory Compliance

Experian helps financial institutions address regulations and internal policies with which they must comply. While regulators continue to push banking regulations to enhance safety and soundness, we help banks satisfy requirements and innovate to use regulations as a source of competitive advantage.

Experian can assist in satisfying some of the key laws and regulations that affect financial institutions.

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Basel III and II

 Basel III and II are global regulatory standards for capital adequacy, stress testing and market liquidity risk agreed upon by the members of the Basel Committee on Banking Supervision. Pending US regulations for Integrated Capital Framework include Basel III, Standardized and Advanced Approach and incorporation into stress testing.

 

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Comprehensive Capital Analysis and Review (CCAR) and Capital Plan Review (CapPR)

 Federal Reserve Board rule to ensure large financial institutions account for their financial risks and have sufficient capital to operate under economic stress.

 

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Fair Debt Collection Practices Act (FDCPA) and Out Of Statute (OOS)

 According to the Fair Debt Collections Practices Act (FDCPA), a debt collector cannot sue a consumer for not paying a debt that is considered to be time-barred.

 

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FFIEC Guidance: Authentication in an Internet Banking Environment

 U.S. financial institutions are required to mitigate risk using a variety of processes and technologies, employed in a layered approach. Businesses are required to move beyond simple questions, for example, to a more complex out-of-wallet identity verification procedure that incorporates broad data assets and analytics.

 

Learn More About the FFIEC Guidance

Integrated Origination Compliance

 Integrated compliance support for Experian's Baker Hill Origination and Baker Hill Advisor Origination solutions for Regulation B, FCRA, HMDA, Red Flags, USA Patriot Act, OFAC, Adverse Action and Risk Based Pricing. Solutions support the origination of commercial, small business, and direct and indirect consumer loans and lines.

Integrated Portfolio Management Compliance

 Integrated compliance support for Experian's Baker Hill Origination and Baker Hill Advisor Porfolio Risk Management solution for CRE stress testing, safety and soundness.

Large Bank Pricing Rule

 FDIC rule under Dodd-Frank Act detailing deposit insurance assessment for concentrations of leveraged loans, consumer subprime loans, and certain types of mortgage and commercial real estate loans.

 

Learn More About the Large Bank Pricing Rule

Large Collection Agency Supervision Rule

 In October, the Consumer Financial Protection Bureau (CFPB) announced that it had finalized a rule allowing the bureau to supervise large debt collection agencies, as well as write future regulations for the industry and enforce them as necessary.

 

More on the Large Collection Agency Supervision Rule

Model Risk Management

 Supervisory guidance to ensure sound practices in data and attribute governance, model validation, model development, implementation, use, governance and controls, strategies and operations.

 

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Red Flags Rule

 All financial institutions are required to have both written and operational identity theft prevention programs. Establishes reasonable procedures that 1) assist creditors and financial institutions in identifying identity theft at the time of origination and 2) set forth provisions specifically applicable to instiutions who receive notice of a customer’s change of address on an account or other red flags on an existing account.

 

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Risk-Based Pricing Rule

 Requires companies that use a credit report or score in connection with a credit decision to send a notice to a consumer when, based on a credit report or score, the company grants credit on material terms that are not the most favorable terms offered to a substantial proportion of consumers. In most cases, the rule defines “material terms” as the loan’s Annual Percentage Rate.

 

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Telephone Consumer Protection Act (TCPA)

 On February 15, 2012, the Federal Communications Commission (FCC) issued a highly anticipated Report and Order (Order) that updates and clarifies certain provisions of the Telephone Consumer Protection Act of 1991 (TCPA).

 

Learn More About the TCPA Order

Truth In Lending Act (TILA)

 The Dodd-Frank Act requires the CFPB to combine the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) disclosures that applicants currently receive at closing.

 

Learn More About the TILA

USA Patriot Act, OFAC and Anti-Money Laundering

 Laws are intended to strengthen U.S. measures to prevent, detect, and prosecute international money laundering and the financing of terrorism. These efforts include Customer Identification, OFAC and Anti-Money Laundering (AML) regulations.

 

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