During a CRA consulting engagement, a need arose that required the identification of census tracts. ADI taps into its BI tool Data Connect to identify real geographic areas of opportunity.
ADI compliance consultants innovate to overcome the challenge of missing ethnicity and race data in a Fair Lending risk assessment. Assessing the Challenge Through the course of a Fair Lending risk analysis, ADI identified an issue with the client’s data that potentially affected the calculation of regression models to assess risk. ADI’s client, a high [...]
ADI helps a mortgage lender assess its CRA lending performance in the Midwest. Assessing the Challenge A large bank headquartered in the Midwest engaged ADI to evaluate its CRA lending performance in both its full- and limited-scope assessment areas. In a previous CRA performance evaluation, the bank received an overall CRA rating of Satisfactory, but with a [...]
Recently, the Financial Crimes Enforcement Network (FinCen) imposed a $75,000 penalty on Colorado money services business, Aurora Sunmart Inc., and its owner and General Manager, Jamal Awad, for violating Bank Secrecy Act (BSA) requirements. FinCen asserted that Aurora and Awad “willfully violated” the BSA’s registration, program and reporting requirements and also did not have an [...]
