6 Practical Tips for Compliance Management

Whether an auto lender has 100 compliance staffers or one, an effective compliance management system should be at the top of the priority list, said Richard Miller, chief compliance officer at Hyundai Capital America, in a session at the Auto Finance Risk & Compliance Summit last month. In a nutshell, a compliance management system – […]
  • Marcie Belles
  • June 7, 2017
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After a CFPB Exam: Act and Act Fast

Let’s say your company just finished an examination by the Consumer Financial Protection Bureau and has emerged without any legal violations or public consent enforcement orders. Congratulations! But don’t start celebrating just yet — the CFPB did find that some of your company’s internal operations were a little bit lax and need some fixing. The consequences […]
  • George Yacik
  • September 8, 2016
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Coping with CFPB Exams: How to Handle the Findings [VIDEO]

First comes the exam, then come the findings. And one sign of a good exam is no surprises, according to Linda Iannone, chief compliance officer at Toyota Financial Services. “By the time you get to the closing meeting, you should already know what the findings are going to be, and what you’re going to talk […]
  • Larissa Padden
  • August 5, 2016
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Coping with CFPB Exams: The Importance of First Impressions [VIDEO]

Building relationships with the Consumer Financial Protection Bureau and other regulators is “so important,” said Linda Iannone, chief compliance officer at Toyota Financial Services. “We haven’t been examined by the CFPB yet, but we took a very proactive approach,” Iannone told attendees at the Auto Finance Risk & Compliance Summit in May. “As soon as the larger participant […]
  • Larissa Padden
  • July 13, 2016
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Coping with CFPB Exams: The Top ‘Dos and Don’ts’ [VIDEO]

A company’s legal representation should not be present during an exam from the Consumer Financial Protection Bureau, according to Richard Miller, director of compliance at Hyundai Capital America. “There’s a different level of animosity that comes with having a separate legal counsel in that role as a participant in the exam. It definitely doesn’t run […]
  • Larissa Padden
  • July 1, 2016
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Coping with CFPB Exams, The Importance of Interviews [VIDEO]

Identify who are your subject matter experts are, engage them early, and start working on all the first day presentations – that’s the advice Richard Miller, director of compliance at Hyundai Capital America, gave on how to prepare for Consumer Financial Protection Bureau exams. Miller, along with Toyota Financial Services’ Chief Compliance Officer Linda Iannone, […]
  • Larissa Padden
  • June 24, 2016
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