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?? Real-Time Data is a Game Changer for Audits! In a recent collaboration with SheppardMullin during the American Fintech Council's Future of Finance Webinar Series, I had the privilege of joining an incredible panel to discuss "Ensuring Lending Remains Fair: Navigating Compliance in Fintech and Sponsor Bank Partnerships." Moderated by Moorari Shah from SheppardMullin, we explored why real-time data is reshaping audit processes and the broader compliance landscape. I was joined by: Ben Melnicki, Chief Compliance Officer at Cross River Sarah Fernandez, Director, Risk Advisory Services at Kaufman Rossin Kareem Saleh, Founder & CEO of FairPlay AI ?? Watch this clip to see how real-time data can make compliance audits more effective and transparent. #CompliSun #FintechCompliance #RealTimeData #FairLending #ComplianceInnovation #AuditTechnology #Fintech

"Every system is perfectly designed to get the results it gets," and it is attributed to W. Edwards Deming, a renowned quality management expert. This simple yet profound insight reminds us that if you're unhappy with your outcomes, it's not about luck or circumstance—it’s about your systems. At CompliSun, we understand that compliance isn't about reacting to problems but creating systems that ensure the right outcomes every time. If your compliance process consistently leaves gaps or risks, it’s time to rethink and rebuild the system. By systemizing compliance, you set your organization up for sustainable success, minimizing risk and ensuring regulatory peace of mind. In this clip, we dive into why systemizing compliance is critical to long-term growth. Let’s build systems that work for you, not against you. #Compliance #SystemDesign #Fintech #Regtech #CompliSun

REMINDER: This insightful webinar will be live in less than 1 hour.

The CFPB just filed a complaint against Fairway Independent Mortgage Corporation for discriminatory practices. Of note, the facts at issue focused more on the fact that Fairway didn't market to or open retail offices to the majority-Black / African American areas, particularly Birmingham, Alabama metro area -- especially in contrast to Fairway's competitors. From 2018 to 2022, Fairway's lending practices demonstrated a pattern of redlining, where the company disproportionately directed its marketing and services to majority-white areas, while failing to take similar actions in majority-Black areas. The result was a significant disparity in the number of mortgage applications and loans from Black communities compared to white communities. Fairway’s peers, in contrast, received a higher percentage of applications from Black neighborhoods during the same period. This failure to proactively expand its application pool in minority areas has led to accusations of discrimination. Moreover, the complaint notes that Fairway took no substantial steps to address its redlining risk, even after data showed these discrepancies. Employees also exchanged emails using derogatory language about majority-Black neighborhoods, further reinforcing claims of intentional discrimination. The CFPB seeks remedies, including policy changes to prevent future discrimination and financial penalties for Fairway’s past practices. The complaint is attached -- any thoughts?

?? New Video Alert! One of the most overlooked advantages of a well-documented Compliance Management System (CMS) is how it helps tell your side of the story to regulators. When everything is in order, you can engage in a nuanced conversation about potential disagreements instead of facing harsh scrutiny due to poor documentation. Regulators are more likely to listen when you have your records organized, allowing for an open discussion on honest mistakes. But without proper documentation, the conversation may shift from collaboration to confrontation. Don’t leave your narrative up to chance. A solid CMS could be the difference between resolving an issue smoothly and facing more aggressive regulatory action. Watch the video to learn how! ??Colin Darke Robert "Bob" Mullenbach, CRCM #ComplianceMatters #RegTech #CompliSun #RegulatoryRisk #ComplianceManagement #FintechCompliance

Another quick clip from the insightful Webinar last week about fintech + bank partnerships. In this clip, our hosts talk about the unique and important role a compliance officer plays in this space (there may be other industries where compliance should not be one of your top priorities, but this isn't one). Let us know your thoughts, and if there is anything you wished we covered in our last webinar, let us know.

Join our CEO ??Colin Darke next week for American Fintech Council's latest Webinar

?? Complaints are more than just feedback—they're opportunities for growth. At CompliSun, we believe in embracing complaints as a vital part of compliance management. ??? Our latest infographic explains how learning from complaints can enhance your organization's compliance and improve customer trust. From spotting trends to addressing root causes, mastering complaint management is key to minimizing risks and fostering a culture of continuous improvement. We go into more depth about complaint management (and provide a template) in our free eBook you can grab here: Unleashing Innovation - Compliance Strategies for Fintechs https://lnkd.in/gEZaCxbr Link in bio #ComplianceMatters #ComplaintManagement #ContinuousImprovement #CompliSun #ComplianceStrategy #RegTech #CustomerFeedback

From our webinar last Friday discussing how to strengthen fintech and bank partnerships, and one point is to have strong board oversight/engagement. This is a quick clip, but the idea is that you want board members that have seen things go south ... you want a board member who has been burned or who has been in close proximity of someone who was burned by a regulator. It is that experience that can help you make informed decisions on both the fintech and the bank side.

Quick summary of the webinar this past Friday - we will be sharing short clips from the webinar later this week.