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CBA LIVE 2014 – Small Business Regulatory Update

At CBA LIVE, Bridgeforce presented to banking executives on the topic of regulatory compliance for small business banking. As a financial services consulting firm covering all aspects of lending in the credit lifecycle, Bridgeforce was able to share insights that provided the audience with actionable takeaways to enhance their small business regulatory compliance programs.

After covering the regulatory trends from overall requirements to the sequencing of these activities, Bridgeforce shared the best practices to meet the customer base of small business lending while remaining compliant. The final suggestions for action:

  1. Assess current state – assess current small business lending practices against consumer regulatory expectations and leverage differences in customer treatment to implement enhancements.
  2. Examine and consolidate policies to establish an enterprise-wide standard for what should be treated similar to “consumer”
  3. Conduct a full review of first line of defense activities across all of the bank—to ensure this is in place for both consumer and small business segments.

Download our slideshow of this presentation for more information on small business lending from defining a small business to formalizing practices and procedures for the business segment.

Category: Compliance