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Wednesday, January 21, 2015

New Report Highlights 2015 Regulator Expectations

In 2015, regulators will expect banks to step up standards for governance, consumer protection compliance, third-party risk management, cybersecurity, credit quality and anti-money laundering compliance, according to a new report from Deloitte. The report also said that the Volcker Rule, liquidity requirements and resolution planning will be high on supervisors’ priorities for larger banks.

In addition to effective compliance management systems, regulators will also expect “a ‘compliant’ tone coming from top leadership,” Deloitte said.

Regulatory compliance is ultimately about protecting the reputation of the organization and its management, both in the eyes of the regulators and the public whom the organization serves.”

Regulators are expressing concern about loosening credit underwriting standards, Deloitte added, noting that “[r]egulators are increasingly likely to issue critical comments based on their discomfort with a firm’s underwriting practices.”

Read the report.

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