Overview of Lending Regulatory Compliance

Key Takeaways

• TRID violations carry penalties of $5,000+ per occurrence; fair lending violations can exceed $1 million for pattern-or-practice discrimination.
• Each state adds unique compliance requirements including disclosures, fee caps, anti-predatory lending laws, and examination obligations.
• The CFPB evaluates compliance management systems across four components: oversight, program, complaints, and audit.
• Third-party compliance consulting costs $2,000-$5,000/month and provides regulatory updates, policy maintenance, and examination preparation.