#67: CRA Tips: Regulatory Change Part I: Compliance Risk - The Only Constant is Change

It’s going to be a year-end like no other, and regulatory change continues to be front and center. There are several key compliance risks to be aware of and elements to reflect upon as a CRA officer. Regulators will continue to enhance their focus on oversight, supervision, and enforcement.

The adaptation to new regulations, market disruption, and expected lack of clear guidance and training from regulators will increase our risk to regulatory change. Our regulators are also adapting, and whenever there’s something new, there will be uncertainty on both sides as the changes are implemented. State agencies are also getting more involved in regulatory oversight and coming up with their own approaches to CRA and banking. There’s also an increase in fair lending risk and an increased interest in climate change and the impact of natural disasters on lower income populations.

Listen in to part one of this three part series on regulatory change.

I have also compiled a free resource that will support you as you start to prepare your bank for this monumental shift in managing risk and your CRA program. Get the CRA Regulatory Change Checklist here: https://cratoday.com/regulatory-change-checklist/

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Linda Ezuka, LinkedIn https://www.linkedin.com/in/linda-ezuka-cra-today/

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