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| Partnership simplifies, automates fair-lending compliance |
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Heading into 2013, banks face
increasing pressure regarding fair lending compliance and examination.
Heightened exam scrutiny is causing many institutions to reevaluate their
current compliance programs to ensure their fair lending compliance efforts can
meet both the spirit and letter of the law.
In an effort to simplify this process, Computer Services Inc., partnered with Charlotte, N.C.-based TRUPOINT Partners to offer its Comparative Analytics Engine to CSI's NuPoint customers.
TRUPOINT's Comparative Analytics Engine is a Software-as-a-Service (SaaS)-based comparative analysis engine that simplifies compliance with fair lending, the Home Mortgage Disclosure Act (HMDA), and the Community Reinvestment Act (CRA).
The Bank of Kentucky, a Florence, Ky.-based CSI customer, uses TRUPOINT to automate HMDA and CRA compliance. "The partnership between CSI and TRUPOINT has streamlined our ability to perform comparative analysis and peer reviews of our lending practices," says Gary Menne, vice president at The Bank of Kentucky. "TRUPOINT works with CSI to preload a combination of public, private, and third-party data, which makes statistical and comparative data analysis much easier than before."
The partnership allows CSI customers to leverage TRUPOINT Analytics platform and compliance expertise to meet the increased challenge fair lending and CRA compliance. With the established relationship between TRUPOINT and CSI, NuPoint users gain the following efficiencies:
· Quickly perform statistical analysis of all loan activity.
· Identify lending disparities and understand them before the exam.
· Access prebuilt reporting for fair lending, peer analysis, and consumer lending.
· Receive interpretive guidance and support from TRUPOINT compliance analysts.
[This article was posted on November 28, 2012, on the website of ABA
Banking Journal, www.ababj.com.]
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