Compliance Testing for the Financial Industry

Informa Research Services leads the way in fair treatment, fair lending, and compliance testing. These particular research services were developed and tested with valuable input from bank regulators and the Department of Justice.

Using mystery shop and customer survey methodologies, we capture the "customer experience" to identify areas of improvement or concern which cannot typically be gleaned from general compliance transaction testing. This type of testing greatly complements an institution’s quality control monitoring program with enhanced coverage of the true end-to-end process.

Regulatory agencies have stated:

"Self testing will be considered as a substantial mitigating factor by the primary regulatory agencies when contemplating possible enforcement actions. In addition, HUD and DOJ will consider as a substantial mitigating factor an institution's self-identification and self-correction when determining whether they will seek additional penalties or other relief under the FH Act and the ECOA." (*Source: OCC, Comptroller’s Handbook, page 166, January 2010)

We are the experts – we can provide valuable insight into the most effective program for your institution! The following are examples of the broad spectrum of compliance testing programs we offer:

Fair Lending and Fair Treatment Matched-Pair Testing:

• A self-testing mystery shop program that captures the "customer experience" to identify areas of improvement or concern.
• Capabilities of testing include mortgage, home equity, auto, small business lending, etc.
• Utilizes a matched-pair methodology to validate or invalidate potential issues gleaned from fair lending comparative analysis or HMDA and CRA data analysis.

Compliance and Suitability Testing for Non-Deposit Investment Products (NDIP):

• Another self-testing mystery shop program that captures the "customer experience" to identify areas of improvement or concern.
• Testing subjects cover NASD conduct rules, Interagency Statement of Retail Sales for NDIP, other general compliance disclosure and signage requirements, as well as, specific institution policies.

Mystery Shop Programs to Test for Various Compliance Requirements:

• Expanded mystery shop programs are available to test specific regulations, requirements, and policies as programs are designed with the institution's concern in mind.
• Other testing programs cover, but are not limited to: RESPA, FACTA, HMDA, Customer Complaint Processes, Third Party Referral Activity, etc.

For more information and to schedule a consultation with one of our market research professionals contact us at 800-848-0218 or by email at info@informars.com.