As the Chief Compliance Officer of Midsize Bank, Inc., which has $40 billion in assets, and makes approximately 100,000 consumer loans each year. These include automobile and home loans, as well as loans for other large purchases, such as appliances. I am writing a memo to the bank's Board of Directors.
What are four practices identified by the CFPB that can be included in my Memorandum to the Board of Directors in which I identify the compliance risks associated with the bank's loan portfolio?