The agency found a 40% error rate in the 2016 data submitted by the Seattle bank. In addition to the fine, the institution is required to improve its compliance systems.
The agencies are still at odds over how to reform the scoring system in Community Reinvestment Act exams, but experts say the central bank’s recent draft proposal suggests a deal could be struck.
The National Credit Union Administration board member is requesting comment on a proposal to create new consumer compliance measures for "large, complex credit unions."
When Redtail Technology moved into its new building 18 months ago, CEO Brian McLaughlin ensured it had homey touches, like comfortable seating, a basketball court and slides.
ComplyAdvantage, Cinnamon and Zoovu recently raised millions of dollars to fuel expansion of their automated risk management, data-scanning and customer service products geared toward financial services companies.