A Bank’s Compliance Management System (CMS) includes board and management oversight, compliance program, and compliance audit. As a component of board and management oversight, management must be responsive to updates and changes in applicable consumer protection-related laws and regulations. This function is typically the role of the Compliance Officer.

The Compliance Officer should have adequate resources to stay informed of emerging issues and changes to laws and regulations to ensure management is properly informed and responds in a timely manner. CCI has developed a page on our website with a list of resources broken down into simple categories that your Bank can use to stay informed. You can view those here.

CCI suggests you share this information with your compliance staff. In addition to compliance, CCI has expanded our services to now offer IT management consulting. Please reach out to any of our staff with questions!

Sincerely,

Jackie Smith