Originally published on CUInsight.com. Even the best kitchen in the world—equipped with a brick oven, top-of-the-line equipment, and the sharpest knives—can’t turn a bad cook into a great one (even though it could help). The substandard cook still needs to learn some critical cooking skills before the dream kitchen can produce the pièce de résistance. [...]
Part 2 of 2 When it comes to compliance, sometimes knowing the “why” can make all the difference. In this two-part series, Ken Agle provides some background on how the gold standard, historical wars, economic development, and other events have impacted modern transaction limitations. In Part 1 of this series, Ken gave a brief overview [...]
Part 1 of 2 When it comes to compliance, sometimes knowing the "why" can make all the difference. In Part 1 of this series, Ken Agle provides some background on how the gold standard, historical wars, economic development, and other events have had upon modern transaction limitations. “My financial institution stopped paying interest on my [...]
2014 is going to be an extremely challenging year for your compliance staff. First, you have the numerous and extraordinarily complex new mortgage regulations that go into effect in January, 2014 that may affect multiple departments within your organization. These will be followed later in the year by the new combined TILA/RESPA disclosures. Second, the [...]
You've probably heard about AffirmX recently. The best way to find out what the AffirmX solution for banks really is is to see it in action in a live, no-obligation demo. Come and find out how AffirmX's innovative solution leverages the latest in secure, cloud-based technology to connect banks with experienced professionals -- zeroing in [...]
The traditional model of compliance review services has always been to randomly select and review documents and compare them to known standards and templates that reflect an optimal version of what that document should look like. But is that enough? When parents look to best help their children prosper in the world, they rely on [...]
The question of the handling of personally identifiable information comes up occasionally in a prospective customer’s evaluation of AffirmX. Philosophically, AffirmX only wants to look at documents and reports that specifically address issues related to regulatory compliance. Unfortunately, some of these documents will contain PII even though it is extraneous to the document review that [...]
Neither AffirmX nor its independent solutions sister company, AdvisX have direct relationships with Policy Pro or CU Policy Works. Those solutions as we understand them, among others that are similar are templated policies that are provided in Word format to credit unions to adapt and adjust for their own needs. While this can be [...]
The Consumer Finance Protection Bureau has created a separate web page on which it provides compliance guides, videos, and quick reference charts to assist financial institutions with the myriad of mortgage regulatory changes. Here is a link to the new web page: http://www.consumerfinance.gov/regulatory-implementation/ AffirmX customers receive Bench Reports that provide plain English interpretations of the [...]
AffirmX currently has strategic partnerships with the Mountain West Credit Union Association, covering the states of Colorado, Wyoming and Arizona, and the Maryland DC Credit Union Association. These two associations act as resellers of the AffirmX products in their respective states. Credit unions in these states can contact their league for information about the AffirmX [...]
