How Banks Can Combat Regulatory Risks With Lean 6 Sigma

Law360, New York ( August 12, 2015, 11:22 AM EDT) -- Since the end of 2010, the "Big Six" banks in the United States have spent more than $180 billion on settlements with regulators related to unsound mortgage practices and other financial misconduct.[1] Improper practices have resulted in increasing regulations and oversight by way of the Wall Street Reform and Consumer Protection Act (Dodd-Frank), which created the Consumer Financial Protection Bureau, and the issuance of multiple consent orders from the U.S. Office of the Comptroller of the Currency and U.S. Federal Reserve. Banks are incurring significant costs to ensure compliance with evolving regulations by layering controls and resources onto increasingly complex and inefficient processes....

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