Compliance Monitoring/Testing Plan for a Loan Product Serviced by a Third-Party

Employee at a bank ($13.6BUSA)
Hello CBANC Family,

I am once again reaching out for help. I am hoping I can get help from you all. We will be launching an unsecured personal loan/consumer loan product in the near future, and while the loans will remain in our books,  a third party will handle the origination and servicing of these loans. Do any of you have any compliance testing/monitoring plan(s) that you are willing to share with me, please? Any guidance will be immensely appreciated. Many thanks.

    10-D Compliance

    We hope you are staying safe and keeping your spirits up during this unusual time we are currently in.  (Even if it taking some spirits to keep your spirits up😉).  COVID-19 is disrupting our business, too, even with the ability to perform our engagements remotely.  We’ve had a number of big projects get pushed back to 4th quarter, creating some open space between now and the end of July. Do you need any Consumer Compliance related work performed now?  Would you like to save some money on this work?  10-D Compliance will reduce our fees by up to 25% for any work signed now and completed by the end of July.  Do you already have a proposal from us? Contact us today and we'll reduce the price, if you can meet this timeframe.  Here is a list of all of the Compliance-related work you can save on:
    • Truth In Lending Act (Reg Z)
    • Real Estate Settlement Procedures Act (Reg X)
    • Equal Credit Opportunity Act (Reg B)
    • Home Mortgage Disclosure Act (Reg C / HMDA)
    • Flood Disaster Protection Act (FDPA)
    • Fair Credit Reporting Act/Fair and Accurate Credit Transactions Act (Reg V)
    • Consumer Protection in Sales of Insurance Act (Reg H)
    • Fair Debt Collection Practices Act (FDCPA)
    • Fair Housing Act (FHA)
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    • Secure and Fair Enforcement for Mortgage Licensing Act Expedited Funds Availability Act (Reg CC)
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    • Truth in Savings Act  (Reg DD)
    • Electronic Funds Transfer Act (Reg E)
    • Privacy of Consumer Financial Information (Reg P)
    • Community Reinvestment Act (CRA)
    • Bank Bribery Act
    • Right to Financial Privacy Act (RFPA)
    • Bank Protection Act
    • Advertisement of Membership (Part 328/Part 740)
    • Electronic Signatures in Global and National Commerce Act (ESIGN Act)
    • Unlawful Internet Gambling Enforcement Act (Reg GG)
    • ACH NACHA Audit
    • BSA/AML Audit
    • BSA/AML Model Validation
    • Wire Transfer Audit 
    • Unfair, Deceptive, Abusive Acts Practices (UDAAP) Audit
    • Loans to Insiders (Reg O) Audit
    • Garnish of Federal Benefit Payments (Part 212) Audit
    • Protecting Tenants at Foreclosure Act (PTFA) Audit
    • Website/Advertising Compliance Audit
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