Amid an increasingly challenging regulatory environment, community banks must continue developing products and services to meet the needs of their customers. This requires a strong partnership between compliance and product teams, says one compliance veteran. He offers tips for getting product and compliance teams to work together more effectively, discusses where compliance can add value in the product development process, and shares lessons learned from recent BaaS consent orders.
Do your compliance and product teams have a good working relationship? What are some ways they encourage and facilitate cooperation? Any general suggestions for managing regulatory burdens?
For an update on the bevy of initiatives the CFPB aims to complete before the election, check out my interview with fintech expert Alex Johnson.
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Rob Blackwell
Chief Content Officer and Head of External Affairs
IntraFi
Arlington, VA
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